How Much Is Car Insurance For A 20 Year Old Per Month?

Buying a car is an exciting experience, especially for 20 year old drivers. But there is one factor that can put a damper on the process: car insurance. While car insurance is essential to protect yourself and others on the road, it can be quite expensive. The cost of your car insurance plan will depend on a variety of factors, including the type of car you choose to buy, your driving record, and your location. So, how much is car insurance for a 20 year old per month?

Factors that Impact Car Insurance Costs

When it comes to how much car insurance costs, there are several factors that come into play. Your age is one of the biggest factors, as younger drivers are seen as more high-risk in the eyes of insurance companies. Your driving record is also important, as any accidents or tickets you’ve received in the past can increase your rates. The type of car you choose to buy is also important, as certain makes and models are seen as more risky. Finally, your location can make a difference, as certain parts of the country tend to have higher or lower car insurance rates.

Average Car Insurance Rates for 20 Year Olds

According to the Insurance Information Institute, the average cost of car insurance for 20 year olds is around $2,735 per year, or $228 per month. This is higher than the national average for all drivers, which is around $1,548 per year, or $129 per month. However, it’s important to note that these are just averages, and your own rates could be lower or higher depending on factors like your driving record, the type of car you drive, and the insurance company you choose.

Ways to Save on Car Insurance

If you’re a 20 year old driver looking to save on car insurance, there are a few things you can do. First, shop around and compare rates from different insurance companies. You may find that one company offers a better rate than another. Additionally, you may want to consider raising your deductible, which is the amount you pay out of pocket before your insurance kicks in. This can help lower your monthly premiums. Finally, consider taking a defensive driving course, as this can help you qualify for discounts on your car insurance.

Bottom Line

As a 20 year old driver, you can expect to pay more for car insurance than the average driver. However, there are still ways to save on car insurance, such as shopping around for the best rate, raising your deductible, and taking a defensive driving course. The average cost of car insurance for 20 year olds is around $2,735 per year, or $228 per month. By taking the time to compare rates, you can find the best car insurance plan for your budget.