Candace Baker, Car Insurance Writer
@candacebaker
Car insurance for a 20-year-old is $1,569 per year for minimum coverage, on average. Twenty-year-old drivers pay even more for full coverage, which typically includes comprehensive and collision insurance in addition to the state's minimum requirements.
Twenty-year-olds 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. Because the cost of coverage for 20-year-olds is so high, it's important to shop around for multiple quotes before buying a policy. Some of the best car insurance companies for 20-year-old drivers are USAA, GEICO, and AAA.
Cost of Car Insurance for a 20-Year-Old by Company
Company | Cost |
$899 per year | |
$930 per year | |
$938 per year | |
$975 per year | |
$1,030 per year |
Note: Rates are an approximation based on a driver in California with minimum coverage. Actual rates will vary.
Cost of Car Insurance for a 20-Year-Old in the Largest States
State | Cost |
$1,391 per year | |
$1,981 per year | |
$2,500 per year | |
$3,651 per year | |
$1,363 per year |
Note: Rates are an approximation based on a driver with minimum coverage and a clean driving record. Actual rates will vary.
The exact cost of car insurance for a 20-year-old depends on a few other factors as well, including their driving record, gender, and vehicle type.
Additionally, whether a 20-year-old is buying their own policy or being added to their parents' policy makes a difference. Adding a 20-year-old to an existing policy will raise the premiums, but will likely still be a more cost-effective option than having the 20-year-old purchase their own policy.
To learn more, check out WalletHub's guide to the best car insurance for teens and young drivers.
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