Best Cheap Car Insurance Companies for 23-Year-Olds

For 23-year-old drivers, GEICO offers the most affordable car insurance with an average yearly rate of $1,655. This cost is considerably lower than the average annual premium of $3,249 for the same age group.

Premiums for 23-year-old drivers are less expensive than for younger drivers due to their growing driving experience and reduced risk profile. However, rates are higher compared to older age groups, who typically have more years of driving experience and proven safe driving records, leading to lower perceived risk and subsequently lower insurance costs.

For 23-year-olds seeking affordable car insurance, the two cheapest car insurance options are:

• GEICO: $138 per month, $1,655 per year
• State Farm: $155 per month, $1,862 per year

These rates reflect the cost of an individual policy. At the age of 23, drivers have more experience behind the wheel than younger individuals, and many choose to live on their own, which often makes them ineligible for family policies.

While 23-year-olds have better driving experience, they are still considered high-risk drivers, leading to higher premiums than those for older adults. To help manage these costs, you can take advantage of student discounts on car insurance, catering particularly to young students seeking to save money.

Massachusetts is the cheapest for 23-year-old drivers, with an annual premium of $332 from State Farm. Idaho follows with a $507 annual premium from State Farm.

Car insurance costs for 23-year-old drivers can vary depending on where they live. Some states have stricter laws on state minimum car insurance requirements, or they might have more car crashes or thefts. All of these things can make insurance prices go up. For a young driver, the cheapest insurance in one state may not be as good in another state with more risks. Parents should look at different quotes and consider what's unique to their state when choosing insurance for a 23-year-old driver.

The rate for a 23-year-old man is slightly higher than for a woman driver of the same age. GEICO is the most affordable car insurance provider for both men and women.

• For men: GEICO, $128 per month, $1,538 per year
• For women: GEICO, $123 per month, $1,476 per year

Car insurance for a 23-year-old man tends to be more expensive than for a woman. This is often because men are statistically seen as higher risk due to their driving behavior.

Here are the two cheapest cars to insure for 23-year-old drivers, ensuring they stay on budget while driving safely. For cost-conscious young adults, the Subaru Forester and Subaru Outback rank as the most affordable options:

• Subaru Forester: $112 per month, $1,348 per year
• Subaru Outback: $121 per month, $1,449 per year

It's wise to pick the safest and most affordable car. Choosing older, dependable models with strong safety ratings can help cut insurance costs. These cars often offer significant savings without compromising on necessary safety features, making them a smart choice for 23-year-old drivers.

For 23-year-olds, the best car insurance comes from GEICO, with an individual monthly premium of $138 and an annual cost of $1,655.

A solo car insurance policy for 23-year-olds is often more expensive, but rates can vary wildly from company to company. It isn’t unusual for the same driver to get quotes that vary by hundreds of dollars or more each year. Getting multiple quotes is vital to finding the best car insurance and keeping insurance costs low for young drivers.

Any full coverage policy will include liability, comprehensive and collision coverage, but you may want to add roadside assistance, rental car coverage or rideshare insurance. These will increase the policy cost, but comparing the price of the desired policy with multiple insurance companies helps you find the lowest cost without having to give up these beneficial additional coverages.

One of the easiest ways to get cheap car insurance for a 23-year-old who still lives at home is to have them on the family insurance policy. This gives them access to all of the discounts of a family policy, including a multiple-vehicle discount and a bundled policy discount.

But, if you have your own apartment or home as your permanent residence, you won't be able to be on the family policy. You could qualify for a bundled policy discount if you have renters or homeowners insurance with the same company as your auto insurance.

Auto insurance is more expensive for a 23-year-old because they have less experience driving and are more prone to dangerous behavior behind the wheel, leading to more at-fault accidents. Insurance companies charge more to account for these factors.

Young drivers often face high insurance premiums due to perceived risks. Uncover cost-effective car insurance options tailored for 23-year-olds that combine value and coverage.