Cheapest Car Insurance for 23-Year-Olds (2023)

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.

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.

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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.

How much does car insurance cost for 23-year-olds?

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

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:

• Pay-in-full discount

• Defensive driver course discount

• Low mileage discount

• Electronic billing discount

• Auto-pay discount

Travelers

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

• Multi-car discount

• Continuous insurance discount

• Good student discount

• Affinity membership discounts

• Safe driver discount

• Defensive driver discount

Mile Auto

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

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

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:

• Bundling discounts

• Safe driver discount

• Defensive driving discount

• Low-mileage discount

• Anti-theft device discount

• Accident forgiveness

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.

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.

See More: Best and Worst Sites to Compare Car Insurance

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:

• Anti-theft discount

• Accident forgiveness

• TeenSMART driver education

• Defensive driver course discount

• Married couple discount

• Multi-vehicle discount

• Bundling discount

• Good student discount

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:

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