Car insurance calculator for young adults

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Are you a 20- to 24-year-old wondering  if you could be getting a better deal on your auto insurance premiums? Or maybe you’re still on your parents’ policy, ready to go off on your own and you don’t know what to expect? Let us help.

Our car insurance calculator for young adults can help you quickly estimate car insurance rates in your area and even help you find the cheapest coverage.

Car insurance calculator for young adults

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Why do we ask? Car insurance rates vary based on ZIP code, age, gender and type of coverage.

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Coverage level Full coverage – 100/300/100 liability, $500 collision and $500 comprehensive deductibles. State minimum liability – Liability coverage limits vary by state, no coverage for physical damage to your vehicle. Liability only – 100/300/100 liability, no coverage for physical damage to your vehicle.

Full coverage State minimum liability Liability only

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How to estimate car insurance rates for young adults

Insure.com’s calculator is easy to use and you only need a few, non-personal pieces of information to get started. We will first go over the information you need to use the calculator, and further explain the different coverage types and limits.

What information do I need to use the car insurance calculator for young adults?

You won’t have to give out personal identifying information to use the car insurance calculator — just some basic details:

• Your ZIP code
• Your gender
• Your age
• The coverage types and limits you want

Coverage types and limits

There are three coverage levels you have to choose from in the calculator: State minimum liability, liability only and full coverage.

State minimum liability

The state minimum liability refers to the minimum amount of liability coverage mandated by your state. Each state sets its own minimum requirements, which typically include two components: bodily injury liability and property damage liability. These limits vary from state to state and usually take the form of three numbers, such as 25/50/25 or 50/100/50, representing the coverage limits in thousands of dollars.The first number refers to the bodily injury you cause to one person in an accident, the second is for bodily injury liability you cause to all persons in one accident and the third is for property damage you cause.

• Bodily injury liability (per person/per occurrence): Bodily injury liability coverage is designed to cover medical expenses, lost wages and legal fees for individuals injured in an accident where you’re found at fault. The coverage limit is typically split into two amounts: per person and per occurrence. For example, if your state minimum liability is 25/50, it means you have coverage up to $25,000 per person injured, with a maximum of $50,000 for all injuries in a single accident.
• Property damage liability: Property damage liability coverage pays for repairs or replacement of other people’s property, such as vehicles or structures, if you are at fault in an accident. For instance, if your state minimum liability is 25/50/25, the last number represents the coverage limit for property damage liability, which, in this case, would be $25,000.

When selecting state minimum liability in the calculator, the values used depend on the minimum requirement for your state, based on the ZIP code entered.

But, be aware, liability insurance covers the damage you cause. It will not cover the damage your car sustains in an accident.

Liability only

Liability-only coverage, also known as “minimum coverage” or “third-party coverage,” provides protection for damages or injuries you cause to others but does not include coverage for damage to your own vehicle or passengers. 

The coverage form is identical to the state minimum liability explained above, but at a limit higher than the minimum requirement. When selecting liability only, the calculator is using coverage limits of 50/100/50. As explained above, this is $50,000 bodily injury liability per person, $100,000 bodily injury liability per accident and $50,000 property damage liability.

Full coverage

Full coverage is a term commonly used when talking about auto insurance and is typically used to describe an auto policy with coverage for both liability and physical damage to your vehicle.

The liability coverage component protects you financially if you cause bodily injury or property damage to others in an accident.

The physical damage coverage includes comprehensive and collision coverages, which protect your own vehicle against various perils, such as theft, vandalism, natural disasters and collisions with other vehicles or objects.

• Comprehensive coverage: Often referred to as “comp” or other-than-collision,  comprehensive protects your vehicle against non-collision-related damages. It covers losses resulting from theft, vandalism, fire, natural disasters, falling objects and other specified perils. Comprehensive coverage has a deductible, which is the amount you must pay out of pocket before your insurance coverage kicks in.
• Collision coverage: Protects your vehicle in the event of a collision with another vehicle or an object, regardless of fault. It covers the cost of repairs or provides the actual cash value of your vehicle if it is deemed a total loss. Similar to comprehensive coverage, collision coverage has a deductible that you are responsible for paying before the insurance covers the remaining costs.

When selecting full coverage, the calculator is using coverage limits of 100/300/100 and comprehensive and collision deductibles of $500. Written out, this is $100,000 bodily injury liability per person, $300,000 bodily injury liability per accident, and $100,000 property damage liability.

Use full coverage calculator to determine average annual car insurance rates in your state based on your vehicle type.

Car insurance for young adults: Rates by state and age

Auto insurance rates vary widely from one area to the next. Hawaii has the lowest insurance premiums on average for young adults at $1,309. North Carolina had the second-lowest at $1,573 and Ohio third with $1,693.

Here is a state-by-state rundown of how much you can expect to pay, at different age levels, for a full-coverage insurance policy including comprehensive and collision coverage, annually. 

The premiums below are based on 100/300/100 liability coverage with a $500 comprehensive/collision deductible.

How are car insurance rates determined for young drivers?

There are a lot of factors that go into the cost of your auto insurance premiums, age is just one. The main components that drive the cost of car insurance for young drivers are your driving record, the vehicle you drive, how you use it and where you are located. In addition to age, your insurer may factor in your gender and credit (in certain states) when determining rates. Your car insurance premiums also depend on the coverage levels and amount of insurance you buy.

Car insurance discounts for young adults

It’s 2023 and inflation is top of mind for everyone, and young adults are no different. There is no better time to maximize your savings by taking advantage of discounts on your auto insurance. The discounts listed below are among the most popular discounts for young adults.

• Good student discounts
• Safe driver discounts
• Driver training discounts
• Student-away-at-school discounts

Discounts generally apply to specific coverages and their associated premiums, not the total policy premium. You may be eligible for even more discounts not included on this list, reach out to your agent to see what discounts are available to you.

Good student discounts

Young adults that are students could be eligible for a good student discount. Most car insurance carriers offer this discount and you typically need a B average or better. 

How much is a good student discount for car insurance worth? The savings can equate to between 5% and 31% or more for eligible students up to age 25. 

Safe driver discounts

If you have a clean record, you may be eligible for a safe or good driver discount on your auto insurance premiums. While the timeframes can change, you typically need to be ticket-free and/or accident-free for three or more years.

Driver training discounts

Ask your insurance agent to recommend an applicable defensive driving or driving education class available online or in person. Completing this course can result in a rate reduction from your carrier if they allow it, which typically lasts for three years.

Student-away-at-school discounts

If you’re a student away at school without a vehicle, you may be able to save on the cost of auto insurance while staying continuously covered. The insurance companies understand that your vehicle usage will decrease significantly while away at school, but still provide coverage for when you are home on holidays or school breaks. The address must be 100 miles from home to qualify for this discount.

Final thoughts on car insurance for young adults

Maintaining a good, clean driving record is the best way to keep your auto insurance premiums affordable. Driving infractions and claims can increase auto insurance rates for three to five years. It pays to be a good driver.

Once you’ve built up continuous coverage, either on your parent’s auto policy or your own, it is important to keep it. If your policy cancels and you cannot reinstate it, you reset the clock on prior coverage and your rates will increase dramatically. 

Methodology

Insure.com commissioned Quadrant Information Services to report average auto insurance rates for a Honda Accord LX for 34,523 ZIP codes in the United States. The rates used in the car insurance calculator are for young adults aged 20 to 24 who have a clean record, good credit and drive 10,000 miles annually. Average rates are for comparative purposes. Your own rate will depend on your personal factors and vehicle.

Brent Buell

Data Journalist

 

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Before joining QuinStreet, Brent worked for nearly four years at NYCM Insurance (a personal and commercial insurance carrier based in New York) between his roles as a product analyst and a commercial lines underwriter. Before joining NYCM, Brent owned and operated a captive insurance agency. He holds a property & casualty broker’s license and is a Chartered Property Casualty Underwriter (CPCU). Brent is also a father of two boys and is an avid automotive enthusiast.