Best Cheap Car Insurance Companies for 24-Year-Olds

The most affordable car insurance for 24-year-old drivers is offered by GEICO, with an average yearly rate of $1,571. This rate is much cheaper than the average premium for this age group, which is $3,063.

The cost of car insurance for 24-year-old drivers is less expensive than for younger age groups because at 24, drivers have more experience and, statistically, get into fewer accidents. However, these rates are still higher than those for older drivers who have even more driving experience and are viewed as lower risk.

The cheapest car insurance companies for 24-year-olds are:

• GEICO: $131 per month, $1,571 per year
• State Farm: $144 per month, $1,724 per year

These rates represent the cost of an individual policy. Many 24-year-olds have enough driving experience and live on their own, which means they usually can't qualify for a family policy.

While 24-year-olds may have more driving experience than younger drivers, they are still considered high-risk drivers, which contributes to higher premiums in comparison to older adults. To help manage these costs, 24-year-olds should explore all available discounts.

The cheapest state for car insurance for 24-year-olds is Massachusetts, with the lowest annual premium of $332 from State Farm. The second cheapest is Idaho, with the lowest premium of $464, also from State Farm.

Car insurance costs for a 24-year-old vary greatly from state to state. Minimum coverage laws, more accidents and car thefts can affect premiums.

Below are the cheapest car insurance companies for male and female 24-year-old drivers.

• For males: GEICO, $121 per month, $1,454 per year
• For females: State Farm, $116 per month, $1,392 per year

Car insurance for a 24-year-old male driver generally costs more than for a female driver because young male drivers are statistically more likely to be involved in accidents.

Here are the cheapest cars to insure for 24-year-old drivers:

• Subaru Forester: $107 per month, $1,279 per year
• Subaru Outback: $114 per month, $1,368 per year

To save money, consider choosing a safe and affordable car. Older cars that are reliable and have good safety ratings are usually cheaper to insure.

GEICO stands out as the best car insurance company for 24-year-olds, with an average monthly premium of $131 and an annual premium of $1,571.

A top provider like GEICO offers quality coverage, solid customer service and financial stability, which can significantly impact your experience if you get into an accident and need to file a claim.

Full coverage car insurance for a 24-year-old driver costs an average of $3,063 per year. While car insurance premiums are based partly on age, they are also influenced by a variety of other factors, including gender, driving history and credit history. To get the best auto insurance for your particular situation, shop around and compare rates and coverage between different providers.

While car insurance is typically more expensive for 24-year-olds than it is for older drivers, there are still plenty of ways to reduce your monthly premium and find the cheapest car insurance available to you. Young adult drivers may significantly reduce auto insurance costs if included on a family insurance policy, but their permanent residence must be the family's home for this option.

Car insurance is expensive for 24-year-olds primarily because younger drivers are riskier drivers. While you might be an incredibly safe and responsible driver, statistically speaking, young people are more likely to get in at-fault accidents that require insurance companies to pay out.

Many 24-year-olds struggle to find affordable car insurance due to their age group's higher risk profile. Get answers to find the cheapest rates for car insurance.