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Average Car Insurance Costs for 22-Year-Olds – ValuePenguin

For a 22-year-old looking for the cheapest car insurance, we recommend erie, usaa and geico. erie offers the lowest auto insurance rates for drivers 22 and under at $1,922 per year for comprehensive coverage, based on our analysis of thousands of rates in multiple states.

how much does car insurance cost for a 22 year old?

erie insurance, which is available in 13 states across the country, has the lowest rate for a 22-year-old at an average cost of $1,922 per year for full coverage. USAA ranks second at a rate of $1,999 per year, though only current and former members of the military and their families can qualify for a USAA policy.

Reading: How much is insurance for a 22 year old male

At a rate of $2,317 per year, Geico is the cheapest auto insurance company for 22-year-olds available in all 50 states.

The significant variation in prices between insurers illustrates why young drivers should always look for auto insurance quotes.

car insurance cost for 22 year old male and female drivers

Car insurance for a 22-year-old male driver costs an average of $4,425 per year, compared to $4,183 per year for a 22-year-old female driver. The average price of auto insurance is typically more expensive for young male drivers because they tend to have more accidents.

Several states prohibit insurance companies from using gender to calculate auto insurance premiums. These states include California, Hawaii, Massachusetts, Montana, North Carolina, and Pennsylvania, as well as parts of Michigan. this means that, all else being equal, 22-year-old male and female drivers should pay the same rates in these areas.

the average cost of car insurance by age

See also: Who Has the Cheapest Auto Insurance Quotes in Colorado? – ValuePenguin

The average annual cost of auto insurance for a 22-year-old is $4,304, or nearly $359 per month. Since drivers under the age of 25 are considered riskier by insurers, car insurance premiums can be particularly expensive for this age group. however, just a few years of age difference can have a big impact on rates.

For example, when you turn 22, your annual fee will likely drop by an average of $307.

cheapest car insurance for 22 year olds by state

geico offers the lowest rates in four of our nine sample states. however, these are average rates and the best way to find the cheapest rate for you is to shop around.

cost of car insurance for 22-year-olds by state

The average cost of auto insurance varies significantly by state. North Carolina offers the cheapest auto insurance for 22-year-olds at $1,751 per year, which is $2,553 cheaper than average. On the other hand, auto insurance policies in Michigan are by far the most expensive for 22-year-olds, at $8,234 above average.

how to buy cheap car insurance at age 22

Comparing quotes from multiple insurers is often the best way to find affordable auto insurance. Insurers use many variables to determine auto insurance rates, such as your driving record, previous claim filing history, age, vehicle type, and more. Given the variability of factors that affect auto insurance premiums, the insurance company that offers the cheapest rate for one person is often different from the cheapest insurer for another person.

A 22-year-old can also benefit from staying on his parents’ policy as long as possible and taking advantage of possible discounts. a combined family policy may be more expensive for your parents; however, the total cost tends to be substantially cheaper than if you had to pay for two different policies. You can stay on your parents’ auto insurance as long as you live in the same house or go to school full time.

See also: Rx Costs

Common car insurance discounts available to drivers age 22+ include:

The type and amount of a discount can vary substantially between insurers and locations, which is another reason to shop around for auto insurance quotes.

You can also get a ballpark estimate of the cost of insurance using our auto insurance calculator.

methodology

This analysis used auto insurance quotes from thousands of zip codes in nine of the most populous states in the us. uu. Sample drivers were 22-year-old male and female drivers of a 2015 Honda Civic Ex. Both drivers had clean driving records.

The full coverage policy limits were:

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

valuepenguin analysis collected insurance rate data from quadrant information services. rates were publicly obtained from insurer filings and should be used for comparison purposes only. your own quotes may be different from the averages we calculate.

See also: How to Report an Accident to Insurance – FindLaw

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