Leif Olson, Car Insurance Writer
@leif_olson_1
A full coverage car insurance policy for a 23-year-old is about $2,087 per year, on average. In comparison, an auto insurance policy with the state-minimum level of coverage costs about $1,013 per year for a 23-year-old.
Car Insurance Premiums for 23-Year-Olds
| Age | Full Coverage | Minimum Coverage |
| 23 years old | $2,087 per year | $1,013 per year |
| 16 years old | $9,160 per year | $3,192 per year |
| 25 years old | $1,679 per year | $815 per year |
| 45 years old | $2,117 per year | $671 per year |
| 65 years old | $2,028 per year | $680 per year |
*Premiums are based on data from Quadrant Information Services; actual premiums will vary.
To learn more, check out WalletHub’s guide to the cheapest full coverage car insurance.
People also ask
When 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 25% 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 |
How does age affect the cost of car insurance?
Age affects the cost of car insurance by up to 389% on average because certain age groups are statistically more likely to be involved in accidents. Age is a factor in car insurance pricing in nearly all states, though California, Hawaii and Massachusetts do not allow the practice.
Average Car Insurance Rates by Age
| Age | Average Annual Cost |
| 16 | ... |
How much is car insurance for a 23-year-old?
Car insurance for a 23-year-old costs an average of $1,013 per year for minimum coverage. Twenty-three-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 23-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 23-year-old drivers are...
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