How Much Is Car Insurance for 22-Year-Olds in 2024?


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ByMark Fitzpatrick
Reviewed byMark Friedlander
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ByMark Fitzpatrick
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Reviewed byMark Friedlander
Edited byCasie McCoskey
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Updated: May 20, 2024

Advertising & Editorial Disclosure

The average annual cost of car insurance for a 22-year-old driver on a full coverage family policy is around $2,175, about $1,121 more expensive than the average $1,054 paid annually by a 40-year-old driver.

Choosing the best car insurance for a 22-year-old involves balancing cost with quality coverage. Opting for higher deductibles, selecting a less expensive or pre-owned vehicle and being included on a parent's policy are effective strategies to reduce premiums.

However, we recommend prioritizing the most suitable coverage over simply seeking the cheapest option. This approach ensures better service and more comprehensive protection, catering specifically to the needs of a 22-year-old driver.

Key Takeaways

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The average cost of car insurance for 22-year-olds stands at approximately $2,175 per year under a family policy.

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Nationwide offers the cheapest full coverage for 22-year-old male drivers at $1,604 annually. Meanwhile, GEICO provides the most affordable liability-only policy at $364 per year.

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22-year-olds can prioritize comparing quotes from various insurers, maintaining a clean driving record and exploring available discounts to secure affordable coverage.

Why Trust MoneyGeek? We ensure that MoneyGeek's content meets our highest editorial standards by carefully scrutinizing it. Throughout each stage, our team writes, checks facts, edits and reviews the content produced to generate accurate information.

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These rates reflect the average cost of car insurance for 22-year-old drivers as of 2024.

Average Cost of Car Insurance for 22-Year-Olds by Coverage

The average cost of car insurance for 22-year-olds is:

  • For liability-only: $394 per year, $33 per month
  • For full coverage: $2,175 per year, $181 per month

When you opt for state minimum liability car insurance, you're getting coverage that helps pay for injuries and property damage you may cause in an accident. However, purchasing state minimum coverage can leave you vulnerable to a substantial financial loss from an at-fault accident.

22-year-old drivers seeking to balance affordability with sufficient coverage can consider factors like their vehicle's value, personal financial situation and the potential for higher costs in the event of an accident.

State Minimum Liability OnlyFamily Policy Annual Premium$394Family Policy Monthly Premium$33
100/300/100 Full Cov. w/$1,000 Ded.Family Policy Annual Premium$2,175Family Policy Monthly Premium$181
300/500/300 Full Cov. w/$1,000 Ded.Family Policy Annual Premium$2,577Family Policy Monthly Premium$215

Average Cost of Car Insurance for 22-Year-Olds by Gender

The average cost of car insurance for 22-year-olds varies significantly by gender:

  • For female drivers: $2,099 per year, $175 per month
  • For male drivers: $2,251 per year, $188 per month

Male drivers under 25 often pay more for the same coverage than their female counterparts.

Providers rate drivers based on their overall risk profile. With data showing that young male drivers are more likely to be involved in accidents and filing insurance claims, they typically pay higher premiums than female drivers of the same age.

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
FemaleFamily Policy Annual Premium$2,099Family Policy Monthly Premium$175
MaleFamily Policy Annual Premium$2,251Family Policy Monthly Premium$188

Average Cost of Car Insurance for 22-Year-Olds by State

The top two states with the most expensive average car insurance rates for 22-year-old drivers on a family policy are Louisiana ($4,673 per year) and Florida ($3,843 per year). On the other hand, Idaho offers the cheapest rates at just $990 per year.

Where you live affects your premiums because insurers take into account local factors like accident rates, vehicle crime levels and weather risks. Areas with higher risks lead to higher premiums to cover potential claims, making location a significant driver of insurance costs.

Data filtered by:Results filtered by:
Gender:
Gender:Male
AlabamaFamily Policy Annual Premium$1,840Family Policy Monthly Premium$153
AlaskaFamily Policy Annual Premium$1,640Family Policy Monthly Premium$137
ArizonaFamily Policy Annual Premium$1,823Family Policy Monthly Premium$152
ArkansasFamily Policy Annual Premium$1,552Family Policy Monthly Premium$129
CaliforniaFamily Policy Annual Premium$2,095Family Policy Monthly Premium$175
ColoradoFamily Policy Annual Premium$2,125Family Policy Monthly Premium$177
ConnecticutFamily Policy Annual Premium$1,828Family Policy Monthly Premium$152
DelawareFamily Policy Annual Premium$2,011Family Policy Monthly Premium$168

Why Car Insurance Is Expensive for 22-Year-Olds

Age is a crucial factor in car insurance costs due to risk assessment. Rates are typically higher for 22-year-olds because insurers view young drivers as relatively high-risk. However, rates generally decrease as drivers age and gain more experience. This decline is due to a combination of increased driving experience and a tendency to engage in safer driving practices, reducing the risk of accidents.

Teenagers pay the most for car insurance, with costs gradually decreasing as they reach their mid-20s. Drivers in their 50s often enjoy the lowest rates.

Cheapest Car Insurance Companies for 22-Year-Olds

The cheapest car insurance companies for 22-year-old male drivers with full coverage family policies are:

  • Nationwide: $1,604 per year, $134 per month
  • GEICO: $1,639 per year, $167 per month

Car insurance is typically more expensive for 22-year-olds due to a high risk of accidents. However, after age 25, accident risk declines while other rating factors become more significant in determining premiums. Differences in premiums between companies demonstrate how comparing quotes can result in significant consumer savings.

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
NationwideFamily Policy Annual Premium$1,604Family Policy Monthly Premium$134
GEICOFamily Policy Annual Premium$1,639Family Policy Monthly Premium$137
TravelersFamily Policy Annual Premium$1,743Family Policy Monthly Premium$145
State FarmFamily Policy Annual Premium$1,832Family Policy Monthly Premium$153
AllstateFamily Policy Annual Premium$1,909Family Policy Monthly Premium$159
ProgressiveFamily Policy Annual Premium$2,387Family Policy Monthly Premium$199
FarmersFamily Policy Annual Premium$2,676Family Policy Monthly Premium$223

Average Cost of Car Insurance for 22-Year-Olds in an Individual Policy vs. Family Policy

The average cost of an individual full coverage policy for a 22-year-old is around $3,535 annually while being part of a family policy reduces this to approximately $2,175 per year. This considerable reduction in cost is a major benefit to young adults.

However, there are drawbacks, such as the potential increase in the family's overall premium in case of accidents or violations by the young driver.

Data filtered by:Results filtered by:
Coverage:
Coverage:100/300/100 Full Cov. w/$1,000 Ded.
$2,175Individual Premium$3,535Increase in Premium$1,360

What Affects Car Insurance Costs for 22-Year-Olds

At 22, your driving history and credit record significantly determine your car insurance premium. We explore these and other factors below:

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    Driving history

    A clean driving record with no accidents or traffic violations leads to lower rates, as it suggests responsible driving behavior and lower risk.

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    Type of vehicle

    Insurance for high-performance or luxury cars is typically higher. Safer, modest vehicles often have lower premiums due to cheaper repair costs and better safety features.

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    Location

    Premiums vary based on where the driver lives. Urban areas with higher traffic and vehicle theft rates generally see higher insurance costs compared to rural areas.

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    Credit score

    A good credit history can indicate financial responsibility, leading to lower insurance rates, as insurers often correlate creditworthiness with responsible driving.

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    Gender

    In many states, young male drivers pay more than female ones due to statistics demonstrating higher-risk behavior. However, this factor is diminishing, and some states have outright banned this practice.

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    Annual mileage

    Lower annual mileage can reduce premiums, as less time on the road means a lower chance of accidents.

How to Find Cheap Car Insurance for 22-Year-Olds

Shopping around and driving a safer and older car can potentially save you hundreds of dollars on car insurance premiums. We have other tips for saving on insurance costs below:

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    Shop around

    Research and compare quotes from multiple insurers to find the best rates. Prices can vary significantly between companies for the same coverage.

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    Choose a safe, affordable car

    Opt for a vehicle that's cheaper to insure. Generally, safer, less expensive cars with good safety ratings have lower insurance costs.

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    Increase your deductible

    Opting for a higher deductible can lower your monthly premiums. Ensure the deductible is affordable in case of a claim.

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    Look for discounts

    Many insurers offer discounts for good students, students away at school, defensive driving courses and low mileage. Always inquire about available discounts.

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    Maintain a good credit score

    A higher insurance-based credit score can lead to lower insurance rates. Pay bills on time and manage credit responsibly to improve your score.

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    Build a clean driving record

    Over time, maintaining a clean driving record without accidents or traffic violations will significantly lower insurance rates.

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    Consider usage-based insurance

    Enroll in a usage-based insurance program if you're a low-mileage or safe driver. These programs track driving behavior and can offer discounts for safe driving habits. State Farm offers a program, Steer Clear, specifically for drivers under 25.

How to Find the Best Car Insurance Coverage for 22-Year-Olds

The best coverage for a 22-year-old balances affordability and protection. If your premiums cost over 10% of the worth of your car, you’re likely paying too much for coverage. Consider the following tips:

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    Assess your risk factors

    Consider factors like driving frequency, car theft and vandalism rates in the area and vehicle type. Understanding these can help determine the right level of coverage, especially for collision and comprehensive insurance.

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    Understand coverage types

    Learn about different coverages such as liability, collision, comprehensive and uninsured motorist protection. Knowing what each covers will help you decide what's essential for your situation.

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    Consider policy add-ons

    Look into additional coverages like accident forgiveness and personal injury protection. These can offer extra security in various scenarios.

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    Balance deductibles and premiums

    Choose deductibles you can afford in case of a claim, but remember that higher deductibles can lower your premium.

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    Regularly review and update your policy

    As your life changes, so do your insurance needs. Regularly update your policy to match your current circumstances and coverage requirements.

FAQ About Car Insurance for 22-Year-Olds

How much is car insurance for a 22-year-old?
Why is my car insurance so high at age 22?
What is the cheapest car insurance provider for a 22-year-old?
How can a 22-year old stay on a family policy even while away at college?
What states prohibit gender and credit history as rating factors?

About Mark Fitzpatrick


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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.