Auto Insurance For Young Adults

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Auto Insurance For Young Adults – The average cost of car insurance for a 24-year-old is $314 per month, or $3,765 per year. For 24-year-olds looking for cheap car insurance, we recommend Erie, USAA and Geico.

We compared the average cost of car insurance for 24-year-olds by gender, company, age and state. To find the cheapest car insurance coverage, compare quotes from multiple insurance companies and identify possible discounts.

Auto Insurance For Young Adults

Auto Insurance For Young Adults

Erie, which is available in 13 states, offers affordable car insurance for 24-year-olds, at $120 a month. USAA offers the second tier for the cheapest price, at $153 per month. However, only current and former members of the military and their families can qualify for the USAA policy.

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Geico was the cheapest car insurance company for a 24-year-old available to most drivers, at a rate of $176 per month.

The wide variation in car insurance rates between insurance companies shows why young drivers should shop around for the cheapest car insurance. For example, the average cost of insurance for a 24-year-old through Allstate is $405 more expensive per month than in Erie.

The average cost of auto insurance for a 24-year-old male driver is $321 per month, compared to $306 per month for a 24-year-old female driver.

Car insurance is usually more expensive for male drivers than for female drivers, and the rate differences are often greater between young men and women. Male drivers usually pay more for insurance because they tend to have more accidents.

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However, some states and local municipalities prohibit insurers from using gender as a factor in determining car insurance premiums. These states include California, Hawaii, Massachusetts, Montana, North Carolina, Pennsylvania and parts of Michigan. This means that male drivers aged 24 should pay the same as female drivers in the states, all else being equal.

Just a small difference in age can have a big impact on youth rates. The average cost of comprehensive auto insurance for a 24-year-old is $302 per month cheaper than for an 18-year-old. The average difference between the price of a 23-year-old and a 24-year-old is very small, for $21 a month.

Due to inexperience and a tendency to get into more accidents, car insurance for young drivers under 25 can be expensive.

Auto Insurance For Young Adults

For each state in our study, we found the cheapest car insurance companies for 24-year-olds. Geico was the cheapest in most states (four), but those are average rates. The best way to get the cheapest rate for you is to get free quotes from multiple insurers.

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The average cost of car insurance varies greatly by state. Auto insurance in North Carolina is the cheapest for 24-year-olds, at $139 a month. That’s $773 cheaper than the average cost of insuring a 24-year-old in Michigan.

We recommend comparing quotes from multiple insurance companies to find the best car insurance plan. Insurers use many criteria to price car insurance policies. Relevant factors may include not only your age, but also your driving record, claims filing history, vehicle and more.

Considering the many factors that affect the cost of car insurance, the insurance that gives you the cheapest rate can be very different from the other person.

Twenty-four-year-olds can also reduce their costs by taking advantage of available discounts. Common car insurance discounts available to drivers over the age of 24 include:

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The discounts available and the amount you’ll save can vary greatly depending on the insurance company. This difference highlights the benefits of shopping around for multiple car insurance quotes to get the best rate.

The study collected auto insurance quotes from thousands of zip codes in the nation’s nine most populous states. We used 24-year-old male and female drivers and 2015 Honda Civic EX drivers as our driver samples. All other factors that affect car insurance costs are constant.

Our analysis involved 29 different insurers, although auto insurance premiums were only included in the analysis if their policies were available in at least three of the nine states.

Auto Insurance For Young Adults

S Analysis collected insurance-level data from Quadrant Information Services. These rates are publicly available from insurance files and should only be used as a reference for comparison purposes – your own quote may vary.

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To get an insurance quote over the phone, call: (855) 596-3655 | Agents are available 24 hours a day, 7 days a week! Finally, the time comes for the chicks to leave the nest. When children leave home, they often go through several phases. Children turn 18, graduate high school, and may go to college, but their parents provide support in many ways. At what age does a child need their own auto insurance policy? This depends on where your child lives and whether he is still your dependent.

There is no set age or time limit that dictates how long your child can stay on your car insurance. As long as he is a dependent, your child can remain on your policy. Requirements may vary from provider to provider, but, in general, the rules are:

A college student may live most of the year in a dormitory, fraternity or sorority house, or share an apartment or house off campus with other students. But your home is still your child’s permanent residence while they attend college, and that qualifies your child to remain on your auto insurance policy.

Including your teen or adult driver on your car insurance policy is a good move for several reasons:

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If you let your child drive any of your vehicles, they will need to be covered under your insurance. All household members who share the same car must be covered under the same car insurance policy. As long as your child is a permanent resident of your household and you own a car, to legally drive it, he will be listed as a driver on your car insurance policy.

If it’s time for your child to buy a separate car insurance policy, we can help. We can help you with changes to your existing policy and help your child find the right car insurance at the best rates available. “Expert verified” means that our Financial Review Board has evaluated the article for accuracy and transparency. The Review Board consists of a panel of financial experts whose goal is to ensure that our content is always objective and balanced.

Written by Cate Deventer Written by Cate Deventer Arrow Right Insurance Writer & Editor Kate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent. Connect with Cate Deventer on Twitter Twitter Connect with Cate Deventer on LinkedIn LinkedIn Contact Cate Deventer via Email Cate Deventer

Auto Insurance For Young Adults

Edited by Mariah Posey Edited by Mariah PoseyArrow Rights Insurance Editor Mariah Posey is an auto and homeowners insurance writer and editor of. He aims to make the insurance journey as comfortable as possible by putting the reader at the forefront of his mind in his work. Connect with Mariah Posey on Twitter Twitter Connect with Mariah Posey on LinkedIn LinkedIn Contact Mariah Posey via Email Mariah Posey

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Auto Insurance For Young Adults

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