Cheapest Car Insurance for 23-Year-Olds

Progressive provides the most affordable option for 23-year-olds with rates starting at just $86 monthly, while Nationwide comes in second at $96 per month. GEICO, Allstate, and State Farm are also good, cheap options for budget-conscious young drivers.

Rates are for a family policy for both male and female drivers with clean records and good credit insuring a 2012 Toyota Camry with minimum liability coverage.

GEICO provides the most affordable minimum liability car insurance for 23-year-olds at $84 per month, with State Farm offering competitive rates at $113 monthly. Young drivers at 23 can also secure quality coverage at reasonable prices through Progressive, Allstate, and Nationwide.

Rates are for a family policy for both male and female drivers with clean records and good credit insuring a 2012 Toyota Camry.

For low-cost comprehensive coverage, GEICO leads with the lowest rates for 23-year-old drivers at $184 monthly, delivering significant savings without compromising on protection. State Farm follows as a solid second choice at $236 per month with extensive agent support. Young adults seeking full coverage can also find competitive options through Allstate, Nationwide, and Progressive, though regional insurers may provide even better value where available.

Rates are for a family policy for both male and female drivers with clean records and good credit insuring a 2012 Toyota Camry.

Car insurance premiums for 23-year-olds on family policies vary with monthly costs ranging from as low as $51 to as high as $217. GEICO is the most affordable provider in 39 states, while State Farm and Progressive offer the best rates in the remaining markets. Here's a comprehensive breakdown of the lowest-cost insurers for 23-year-olds in each state.

Rates are for male and female drivers with clean driving records and good credit insuring a 2012 Toyota Camry with minimum coverage.

Because of their higher accident risk, 23-year-old male drivers generally face higher insurance premiums than females. Below, we showcase the most cost-effective national insurance providers for both men and women in this age group.

For 23-year-old female drivers seeking minimum liability coverage, GEICO stands out with the lowest national rates at just $86 monthly, offering significant value with annual premiums nearly $500 less than Progressive's $144 rate and substantial monthly savings compared to other major carriers.

Rates are for female drivers with clean driving records and good credit insuring a 2012 Toyota Camry.

GEICO delivers the cheapest car insurance rates for 23-year-old male drivers at just $82 monthly for minimum liability coverage, while State Farm averages $119 per month and Nationwide $158 per month. Young men can save nearly $76 per month by choosing GEICO over higher-priced alternatives, adding up to substantial long-term savings.

Rates are for male drivers with clean driving records and good credit insuring a 2012 Toyota Camry.

The MINI Cooper leads at just $59 monthly compared to a Tesla Model X at $97 monthly. That's $456 in annual savings that could go toward an emergency fund or pay down student loans. Below are the cheapest cars to insure.

Rates are for drivers with clean driving records and good credit.

Vehicle type significantly impacts insurance premiums for young drivers, with smart choices delivering both savings and practical benefits. Minivans offer the lowest rates at $68 monthly while providing excellent safety ratings and cargo space, compared to Sedans at $71 monthly, though sedans provide better fuel economy and style.

On average, annual car insurance costs for 23-year-olds are approximately $125 per month for minimum coverage and $253 for full coverage. Keep in mind that these averages apply to drivers with clean records and good credit. Your actual rate may differ based on your individual driver profile.

Male 23-year-olds pay higher premiums than females due to statistical risk factors. For minimum liability coverage, females pay $125 monthly while males pay $127, just a $2 difference. The gap widens to $18 for full coverage, with females paying $293 compared to males $311 per month.

Liability limits expressed above (e.g., 100/300/100) refer to bodily injury liability per person, bodily injury liability per accident and property damage liability per accident, respectively. Numbers expressed after these limits are deductible amounts for both collision and comprehensive coverage.

State-based car insurance costs for 23-year-olds demonstrate large differences, with drivers in some states paying as low as $51 monthly while others face rates up to $217 per month. Factors such as local claim frequency, state minimum requirements, and regional economic conditions contribute to these pricing disparities. The detailed breakdown by state below provides insight into what you can expect to pay in your area.

Car insurance for 23-year-olds remains relatively expensive because they are still classified as high-risk drivers. However, their premiums are generally lower than those for younger drivers. Teen drivers, mainly those aged 16 to 19, are involved in accidents and violations at higher rates, with fatal crashes nearly three times more frequent than those of older drivers. Risky behaviors such as speeding, distracted driving, nighttime driving and not wearing seat belts contribute to these elevated risks, especially for male drivers.

Twenty-three-year-old drivers typically encounter some of the highest car insurance premiums among older age groups. Fortunately, there are effective strategies that 23-year-olds and their families can use to lower these expenses. Below are our top tips for finding the most affordable coverage:

Car insurance for 23-year-olds can be pricey, but there are ways for young drivers and their families to find more affordable options. Comparing quotes, staying on a family policy and taking advantage of discounts can help reduce costs. Nationwide, GEICO and State Farm are often among the most affordable providers for 23-year-olds, but shopping around is crucial to securing the best deal.

Finding affordable car insurance for 23-year-olds can be challenging due to the risk factors that contribute to higher premiums for this age group. To help, we’ve provided answers to some of the most frequently asked questions on this topic:

MoneyGeek used a sample driver profile to determine national and state averages for vehicle insurance for 23-year-old drivers. Using this information, we assist readers in selecting the best policy at the lowest price possible.

Data Sources and Depth

We collected data from each state's insurance department and Quadrant Information Services. The data consists of 4,284 price estimates from 100 different ZIP codes and six auto insurance providers.

Sample Driver Profile

MoneyGeek calculates yearly car insurance policy estimates based on a policyholder with the following characteristics:

• Toyota Camry LE
• Clean driving record
• 12,000 miles driven every year

To determine which companies provide the most affordable policies, MoneyGeek compared rates for 23-year-old drivers across different states. We made adjustments to this profile to reflect the differences in age, location and driving behavior.

Coverage Levels and Deductibles Explained

A deductible is the money you have to pay out of your own pocket before your insurance company will pay for your claim. Most drivers would benefit from purchasing full coverage vehicle insurance, which covers both collision and comprehensive damage.

For minimum liability coverages, we used state-required limits to judge which provider was most affordable. For full coverage, we used 100/300/100 liability limits with a $1,000 deductible for comprehensive and collision coverage when researching the cheapest providers. Liability limits of 100/300/100 stand for:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $100,000 property damage liability per accident

Learn more about MoneyGeek's car insurance methodology.