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Updated June 15, 2022
Finding affordable auto insurance rates can be tough for 23-year-olds. They’re not teen drivers anymore, but they haven’t reached the typical drop in insurance premiums that an older driver can expect. Young drivers are still viewed as a risk by auto insurance companies and have a shorter driving history to prove themselves.
If you’re in this age group, paying more money every month than older drivers is nothing new to you. However, you can still save money and find cheap car insurance by comparing car insurance with Insurify. This easy-to-use tool simplifies the process of getting quotes from multiple insurance companies, making it easy and painless to find affordable insurance.
The average cost of car insurance for 23-year-olds is about $240 per month.
23-year-olds see the lowest rates in Ohio, Massachusetts, and Illinois.
The best way to find cheap car insurance is to compare quotes and apply any available discounts to your policy.
Cheapest Car Insurance Companies for 23-Year-Olds
When you think of car insurance companies, your mind may turn to the big insurers you’ve seen commercials for, such as GEICO, Allstate, State Farm, and USAA. However, those aren’t the only insurers out there. We found better average monthly costs from these five insurance companies.
|Insurance Company||Cheapest Monthly Quote|
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Average Car Insurance Rates by Age and Gender
When you buy a car insurance policy, the cost of car insurance is determined largely by risk. The way insurance providers assess risk includes personal information about you, such as age and gender. Younger drivers pay more because they have a shorter driving history and tend to make riskier decisions behind the wheel.
Similarly, statistics show that male drivers tend to get into more accidents and traffic violations than female drivers, so they pay higher car insurance premiums, except in states that prohibit this practice. When analyzing car insurance rates by age, young drivers will always pay way more on average than their older counterparts, regardless of gender.
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How much does car insurance cost for 23-year-olds?
How much does car insurance for 23-year-olds cost?
Drivers in their early 20s see some of the highest monthly rates for car insurance. However, 23-year-olds can often qualify for discounts that make the cost a bit more manageable.
With age comes wisdom, freedom, and more affordable car insurance rates. While young adults pay more than older drivers, costs start to decrease for drivers in their twenties. Monthly rates can be as low as $85 for 23-year-old drivers. That cost will continue to fall with each passing birthday.
23-year-olds can find low car insurance quotes by shopping around between multiple insurance companies and looking for car insurance discounts that help lower premiums. Be sure to explore different discounts car insurance companies offer. Being eligible for a good student, bundling, or clean driving record discount could cut your monthly rates in half.
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National General specializes in insuring high-risk drivers, who have a hard time finding affordable coverage anywhere else. It also offered the cheapest car insurance we found, at $85 a month for a 23-year-old driver in Ohio. You can even get an SR-22 form from National General if you need one.
A few of the discounts that National General offers to 23-year-old drivers include:
Defensive driver course discount
Low mileage discount
Electronic billing discount
One of the biggest insurers nationwide, Travelers is a leader in the car insurance space. It has lots of different policy options to choose from, so you can get a plan that just meets your state minimum requirements or more comprehensive or full coverage that includes collision coverage, property damage, and higher limits.
A few of the discounts that Travelers offers to 23-year-old drivers include:
EFT, pay in full, good payer discounts
Continuous insurance discount
Good student discount
Affinity membership discounts
Safe driver discount
Defensive driver discount
Mile Auto is an innovative insurer that offers pay-per-mile insurance. Rather than install a tracking device to track your mileage, customers simply send in a photo of their odometer once a month and are charged accordingly.
Mile Auto does not offer additional discounts, but if you don’t drive much, you stand to save quite a bit of money.
Clearcover is renowned for its top-notch digital experience. It’s extremely easy to manage your account from your phone, from filing a quote to paying your bill. Available in 15 states, it’s ideal for rideshare drivers or anyone who prefers interacting with their insurance company through an app rather than talking to an insurance agent.
Clearcover doesn’t publicize its car insurance discounts; it uses the same criteria other insurers do to set your rate, but you won’t see the criteria that go into it.
Safeco is a subsidiary of Liberty Mutual, an insurance giant. It’s sold exclusively through independent agents and offers many options to customize your policy. It also rewards safe drivers with things like accident forgiveness, a diminishing deductible, and a partial refund of your policy premium for remaining accident-free.
A few of the discounts that Safeco offers to 23-year-old drivers include:
Safe driver discount
Defensive driving discount
Anti-theft device discount
See More: Best Car Insurance Companies
Best Auto Insurance Discounts for 23-Year-Olds
Do you qualify for discounts on your car insurance? Most insurers offer discounts of some kind, and they can be an easy way to lower your premiums. Here are some of the most common discounts that 23-year-olds qualify for.
|Discount for 23-Year-Olds||How to Get It||Companies That Offer It|
|Good Student Discount||Maintaining a B average in college||State Farm, Progressive, GEICO, Allstate, Farmers, Nationwide, AAA, Travelers, USAA, others|
|Distant Student Discount||Leaving your car at home while you’re away at college||Progressive, Allstate, Farmers, GEICO, State Farm|
|Safe Driver Discount||Not getting into accidents for a certain period of time (usually three to five years)||Travelers, Safeco, most other insurers|
|Bundling Discount||Buying your car insurance at the same place you get renters insurance or other policies||Nearly all major insurers offer a bundling discount|
Tips for Cheaper Car Insurance
Need to lower your premiums even further? There are lots of things you can do to secure lower premiums. Try these strategies to discover lower costs for car insurance.
Shop Around for Car Insurance
If you’re trying to lower your car insurance costs, one of the best things you can do for yourself is to compare auto insurance quotes from different insurance companies. Insurify simplifies the process by bringing together many top insurers with its easy-to-use tool. Just put in some information about yourself, your car, and your driving history to see how much you could save.
Remain on Your Parents’ Policy
Staying on your parents’ car insurance policy can save you all kinds of money. That’s because they likely qualify for discounts that you don’t, which lowers the cost for everyone. Your parents may be eligible for things like homeowners discounts and bundling discounts for buying home or life insurance from the same company.
Drive an Older, Safer Car
Older cars are cheaper to insure because they’re cheaper to replace than new cars. You may also qualify for discounts if your car has certain safety features installed.
Select a High-Deductible Plan
The higher your deductible is, the lower your premiums will be. That’s because you’re essentially telling your insurance company that you’ll take on a larger share of your car’s replacement or repair costs if you get in an accident. Selecting a higher deductible can help you save on car insurance costs
Keep a Clean Driving Record
Driving safely is the easiest way to keep your car insurance costs low. If you can prove you’re a low risk to insure, then insurance companies will reward you with low premiums. Drivers with a clean driving record benefit from the lowest car insurance rates.
Maintain a Good Credit Score
Having a high credit score can get you all kinds of discounts in life, from lower interest rates on loans to cheaper car insurance. Insurance companies believe people with good credit histories are lower-risk drivers and will adjust rates accordingly.
Take Advantage of Discounts
Cash in on all the car insurance discounts you might be eligible for. Some might include:
Cheapest States for Car Insurance for 23-Year-Olds
23-year-old drivers who live in the following states can enjoy the low car insurance rates that come with their location:
|State||Insurance Company||Cheapest Monthly Premium|
The Best Way to Compare and Get Cheaper Car Insurance
It is possible to find affordable car insurance as a 23-year-old. It starts with getting quotes from several insurers to make sure you’re getting the best rate possible. Insurify helps make the process simple.
By providing a central marketplace to review and compare auto insurance quotes simultaneously, Insurify makes it easy to see which plans offer the coverage you need.
Frequently Asked Questions
We found car insurance as cheap as $85 a month for a 23-year-old, so it’s definitely possible to find affordable insurance at age 23. The cost for your policy specifically depends on many things, including your age and gender.
You can find affordable car insurance by comparing quotes from lots of different insurers. Try exploring your options with Insurify, which helps you compare car insurance rates from multiple insurers to make sure you’re getting the best rate possible.
When you’re 23, you have a short driving history. Insurance companies don’t quite know if they can trust you with low rates yet. Being a safe driver and avoiding accidents and traffic violations prove that you’re not a risky driver and can be trusted with low rates.
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Data scientists at Insurify analyzed over 40 million auto insurance rates across the United States to compile the car insurance quotes, statistics, and data visualizations displayed on this page. The car insurance data includes coverage analysis and details on drivers' vehicles, driving records, and demographic information. With these insights, Insurify is able to offer drivers insight into how their car insurance premiums are priced by companies.