Car Insurance for 22-Year-Olds | Bankrate

When you’re a younger, less experienced driver, you can typically expect to pay more on average for car insurance, at least until you reach a certain age and have more driving experience. As a 22-year-old driver, you likely have a few years of experience under your belt, which is reflected in lower average insurance costs compared to 18- or 19-year-old drivers. And, if you maintain a clean driving record, your rates will likely continue to drop as you age.

But even though 22-year-old drivers pay less, on average, than teen, 20- or 21-year-old drivers, there may still be opportunities for you to save money on your auto insurance. That’s because your auto insurance rates are based on numerous factors, so it can be helpful to understand what insurance companies use to determine your premium. Bankrate research, which includes average premium costs for 22-year-olds by gender, state, and company, could help you get a handle on your auto insurance expenses.

Reading: How much is car insurance for 22 year old

how much does car insurance cost for a 22 year old?

The average cost of car insurance for a 22-year-old driver with their own full-coverage policy is $2,779 per year, according to premium data provided by Quadrant Information Services. that works out to around $232 per month. If you have a policy with minimum coverage, the average annual rate for a 22-year-old is $836. Unsurprisingly, these rates are higher than the national average cost of car insurance, which is $1,771 for full coverage and $565 for minimum coverage per year.

As you gain more experience behind the wheel and stay free of accidents and traffic violations, you may see your auto insurance rates gradually decrease. The sample bankrate profile for a 22-year-old driver represents a 22-year-old with his own policy, which he rents rather than owns his own home. Since many 22-year-olds may have moved out of their parents’ home and live on their own, but may not yet own a home, these rates are generally helpful and representative of this age group.

For 22-year-olds on their parents’ policies, the average cost of a full coverage policy is $2,466 per year and the average cost of a minimum coverage policy is $769 per year. That’s slightly lower than the average cost of car insurance for 22-year-olds on their own policies.

Most insurance companies generally consider drivers under the age of 25 to be relatively inexperienced and are often charged a higher premium to compensate for the higher risks they present. In general, the older you get, assuming you can maintain a clean driving record, the lower your premium will be.

average cost of auto insurance for 22 year old men and women

Gender is one of several factors insurance companies typically use to determine your premium (except in states where this qualifying factor is prohibited). Statistically, women tend to have fewer crashes, have fewer DUI crashes, and most importantly, have fewer serious crashes than men. Therefore, all things being equal, women often pay less for car insurance than their male counterparts, according to the Insurance Information Institute.

In seven states, insurance companies are prohibited from using gender when calculating premium. however, in most areas of the us. In the US, your gender will be among the qualifying factors that affect how much you pay for insurance.

average cost of auto insurance for 22 year olds by state

Insurance rates vary by state, so knowing both the national average premium for your age group and the average premium for your state can help you compare. Along with the different regulations surrounding insurance in each state, each individual zip code has different rates of collisions, vehicle thefts, and repair costs. All of these factors determine the average rates quoted in each state.

*these states do not allow insurers to rate consumers differently based on gender.

best auto insurance companies for 22 year olds

See also: Auto Death Indemnity Coverage | TheTruthAboutInsurance.com

Auto insurance companies vary widely, not only in the rates they charge, but also in the types of coverage, discounts, features of the policies they offer, and corresponding third-party ratings. Bankrate’s insurance editorial team reviewed the best auto insurance companies by market share in the nation. our criteria included third-party customer satisfaction scores and financial strength ratings. If you’re looking for the best auto insurance for 22-year-old drivers, comparing quotes from these top four providers will give you an idea of ​​how rates vary depending on your circumstances:

american family

american family, commonly known as amfam, has the highest premiums among the insurers on our list, but its overall average premium is still cheaper than the national average for 22-year-olds. the ninth largest in the usa uu. An auto insurer based on market share according to the Insurance Information Institute (Triple-I), Amfam offers some unique discounts that could help you save, including a youth volunteer discount and a generational discount, which you can take advantage of if your parents are insured with amfam. You can customize your policy with optional coverages, such as accidental death and dismemberment coverage or gap coverage. amfam is fiscally sound and has a financial strength rating of a (excellent) from am best.

more information: american family insurance review

geiko

geico’s low average rates are already competitive, but the second largest rate in the us. uu. the auto insurer also has one of the most comprehensive lists of discounts available in the industry. 22-year-olds can save extra money by taking advantage of discounts that include good students, military and federal employees, and vehicle safety equipment. Keep in mind, however, that Geico does not offer gap insurance, so if you want gap coverage, you’ll have to purchase it from a competitor. geico has an a++ (superior) financial strength rating from am best, the highest level possible.

more information: geico insurance review

state farm

state farm, the largest in the us. auto insurer with a 16% market share, may attract 22-year-old drivers who value working with a local insurance agent in person. The company has more than 19,000 exclusive agents across the country, so chances are you have a local state farm agency nearby. You may be able to lower your premium further with the company’s Steer Clear safe driving telematics program that tracks your driving habits, or by being a good student who maintains a B average or better. State Farm also offers several other insurance products, if you’re looking to expand your financial protection, including coverage for homes, condos and renters, and provides additional banking services. however, with the second highest premiums on our list, state farm may not be the best option for budget-conscious 22-year-old policyholders. I am the best state farm rate a++ (superior) for financial strength.

more information: state agricultural insurance review

united states

usaa, the fifth largest country in the us. the nation’s auto insurer, is known for its competitive premiums and high-quality customer service. However, one drawback to USAA may be that the company only sells insurance to active-duty military, veterans, and their qualifying family members. If you qualify for membership, USAA offers a few perks to consider. In addition to low premiums, the company offers numerous discounts for 22-year-olds, including safe driving, good student, and new car ownership. usaa has an a++ (superior) financial strength rating from am best.

more information: usa insurance review. uu.

cheapest car insurance for 22-year-olds

22-year-olds tend to start and establish an independent life. rent or mortgage payments, utility bills, car loan payments, and student loan payments can keep these young adults operating on a strict budget. If you’re looking for the cheapest auto insurance companies, the following major providers offer average rates that are below the national average for 22-year-olds:

See also: What Does BIN, RX, RXGRP and PCN Mean On An Insurance Card?

Regardless of the average rate for 22-year-olds, keep in mind that auto insurance premiums are personalized. your individual qualifying factors will ultimately determine how much you’ll pay. Your choice of vehicle, the level of coverage you purchase, and your driving record will factor into your premium, so you could pay more or less than these average premiums.

how to save on car insurance for 22 year olds

While the average cost of car insurance for 22-year-olds tends to be higher than for older drivers, there are several ways you can lower your car insurance rate.

maintain a good driving record

One of the best ways to keep your insurance premium low is to avoid at-fault accidents and traffic violations. The more accidents and moving violations you have on your motor vehicle record, the higher your premium is likely to be. Practicing safe driving habits not only keeps you, your passengers, and those around you safe, it can also help keep your auto insurance premiums low. Since some insurers offer good discounts for driving, safe driving is further incentivized.

get good grades

Many insurance companies offer discounts for teens and young adults if they have good grades in high school or as a full-time college student. You will probably need to present a recent report card to your insurance company to qualify for this discount. each company has different requirements, so be sure to ask your insurance company if you qualify.

go to college without a car

If you’re a college student living away from home, you may qualify for a discount on your auto insurance policy if you decide to leave your car behind. most companies dictate how many miles you must be away from home to qualify for this discount. for example, you may need to attend a school that is at least 100 miles from your home address to qualify.

how to get the best car insurance for a 22 year old

There are several tips a 22-year-old driver can use to find the best auto insurance for their needs. these include:

  • Check. Each insurance company calculates rates differently, and each may also offer different types of coverage options or discounts to drivers. searching auto insurance quotes can help you find the best auto insurance company for the coverage you need at a rate that fits your budget.
  • Ask about discounts. In many cases, auto insurance discounts can be stacked to maximize savings. ask about available discounts you may qualify for to help maximize your savings whenever possible.
  • Drive carefully. By practicing safe driving habits, you can better maintain a clean driving record. Not only can this keep rates low, but it can also make you eligible for top auto insurance companies and safe driving discounts in many cases.
  • Work with an agent. As a 22-year-old, you may not know which coverages you need and which are optional for your specific situation. Working with a licensed agent, whether it’s a captive agent like a state farm agent or an independent agent, can help ensure you get the right policy without paying for additional coverage you don’t need.
  • frequently asked questions

      • what is the best car insurance company?
        • can a 22 year old be added to his parents insurance policy?
          • Does the type of car I drive affect my insurance rates?
            • how fast can I get car insurance?

              methodology

              bankrate uses quadrant information services to analyze 2022 rates for all zip codes and carriers in all 50 states and washington, d.c. Rates quoted are based on a 22-year-old male and female driver with a clean driving record, good credit, and the following total coverage limits:

              • $100,000 bodily injury liability per person
              • $300,000 bodily injury liability per accident
              • $50,000 property damage liability per accident
              • $100,000 uninsured motorist bodily injury per person
              • $300,000 uninsured motorist bodily injury per accident
              • $500 collision deductible
              • $500 comprehensive deductible
              • To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. our base drivers own a 2020 toyota camry, commute five days a week, drive 12,000 miles a year, and have a renters insurance policy.

                These are sample rates and should only be used for comparison purposes.

                Gender: Seven states prohibit insurers from using gender as a determining factor in calculating premiums: California, Hawaii, Massachusetts, Michigan, Montana, North Carolina, and Pennsylvania.

                age: rates were calculated by evaluating our base profile with ages 18-60 (base: 40 years) applied. Depending on age, drivers may be renters or owners. two states prohibit insurers from using age as a rating factor: hawaii and massachusetts

                See also: Will a trampoline affect your homeowners insurance? | Huff Insurance Blog

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