Leif Olson, Car Insurance Writer
@leif_olson_1
No, car insurance does not go up at age 24. Although car insurance for 24-year-olds is still pretty expensive compared to the overall average of $56 per month, it is less costly than coverage for younger drivers since 24-year-olds typically have more driving experience.
Cost of Car Insurance by Age
| Driver's Age | Average Premium |
| 16 years old | $266 per month |
| 21 years old | $101 per month |
| 22 years old | $91 per month |
| 24 years old | $79 per month |
| 25 years old | $68 per month |
| 45 years old | $56 per month |
| 65 years old | $57 per month |
Note: Premiums reflect state-minimum coverage.
It's important to remember that age is not the only factor used to calculate insurance risk. Insurers also account for things like your driving record, your ZIP code, and the make and model of your vehicle.
Because companies use different factors to determine your premiums, it's important to compare multiple quotes from different insurers to make sure you're getting the best deal. To learn more, check out WalletHub's guide to comparing car insurance rates.
People also ask
How much is car insurance for a 24-year-old?
Car insurance for a 24-year-old costs an average of $952 per year for minimum coverage. Twenty-four-year-old drivers pay more for car insurance than older, more experienced drivers because insurers consider them to be high-risk, meaning they're more likely to file a claim.
The exact cost of car insurance for a 24-year-old depends on a few factors, including their driving record, gender, location, vehicle, and car insurance company. Some of the best insurance companies for 24-year-old drivers...
read full answer by Candace Baker, Car Insurance WriterWhen does car insurance go down?
The cost of car insurance typically goes down the most between the ages of 18 and 19, when rates drop by about 30% on average. Car insurance premiums generally continue to go down each year until age 25, when rates begin to level off for the next few decades. When drivers turn 25 years old, they can expect a discount of about 14%.
When Car Insurance Rates Go Down the Most
| ... | Average Rate | Change from Previous Age |
At what age is car insurance cheapest?
Car insurance is cheapest around age 55, on average, according to WalletHub data. Middle-aged drivers with experience on the road are the least expensive to insure because they have the lowest accident and claims rates, especially compared to senior and teenage drivers, who are the most likely to be involved in car crashes. Overall, car insurance is cheapest for drivers aged 35-65.
Cheapest Ages for Car Insurance
| Age | Average Premium |
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