Cheapest Car Insurance In Virginia (2024) (original) (raw)

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04/18/2024 08:49 AM

Due to the increasing costs of car insurance, it is recommended that drivers in Virginia compare different policy options in order to find the coverage that is the most affordable. Our reviews team has researched the best car insurance companies nationwide. We carefully examined the reputation, satisfaction of customers, coverage options, and average premiums for each provider.

In this review, we will discuss the most effective methods to lower your insurance costs and identify the least expensive car insurance options in Virginia that match your driving profile.

Key Points

• Travelers is the cheapest car insurance company in Virginia overall, with an average rate of $34 per month for minimum coverage and $108 per month for full coverage.
• Erie and GEICO also offer affordable car insurance rates for many driver profiles.
• If drivers are under 25 or have any traffic violations, they can expect car insurance rates that are higher than the average.
• You can save on car insurance by opting for minimum coverage, looking for discounts, increasing your deductible, and bundling your auto insurance with other policies.

Cheap Car Insurance Virginia

Different car insurance companies have their own unique ways of assessing driver profiles. This means that the provider that offers the lowest rates for one driver might not be the most affordable option for you. To illustrate this, here is a breakdown of the least expensive auto insurance companies and the rates they offer for various driver profiles in Virginia.

*Unless stated otherwise, average costs are minimum-coverage rates for single male drivers between the ages of 25 and 35 with a clean driving history.

What Is The Cheapest Car Insurance Company In Virginia?

In general, we discovered that Travelers provides the most affordable car insurance in Virginia for most types of drivers. The following sections will cover the average monthly costs of both minimum- and full-coverage car insurance from the cheapest companies in Virginia.

These rates apply to drivers in Virginia who are of various ages, live in different places, and have diverse driving experiences. The cheapest companies are organized by minimum coverage costs.

Cheapest Minimum Coverage In Virginia: Travelers

Drivers looking for the most affordable coverage that just meets Virginia state minimum requirements may find it at Travelers for about $34 per month or $407 per year on average.

Cheapest Full Coverage In Virginia: Travelers

If you want better coverage for a good price, Travelers is the best choice. The provider offers full-coverage insurance for an average of $108 per month.

Full-coverage insurance policies in Virginia generally include liability insurance, uninsured/underinsured motorist coverage, collision coverage, and comprehensive insurance.

Cheapest Car Insurance In Virginia: Age

Below, you’ll find average insurance costs for Virginia drivers ages 16 to 55 as well as the top five cheapest car insurance companies for each age group. People who are between the ages of 30 and 55 often get the most affordable car insurance rates. This is because they have more driving experience and are less likely to be involved in accidents compared to younger drivers.

Average Car Insurance Rates By Age

Cheapest Virginia Car Insurance: Young Drivers

As mentioned, teenage drivers and early 20s typically pay the most expensive car insurance rates. That’s mostly because these drivers have less practice driving and are more likely to not follow traffic rules and have car crashes.

In fact, the fatal crash rate per mile driven for teen drivers was nearly three times the rate for drivers 20 years old and older in 2021, according to the Insurance Institute for Highway Safety.

Cheapest Virginia Car Insurance For 16-Year-Olds: Erie

If you’re a teen driver or the parent of one, Erie may be your best bet for finding the most affordable car insurance in Virginia.

The company’s cheapest average rates for 16-year-old drivers are $98 per month or $1,175 per year, which is relatively affordable compared to other states. If you’re looking for full coverage, the average is $270 per month or $3,235 per year from Virginia Farm Bureau.

Cheapest Virginia Car Insurance For 25-Year-Olds: Travelers

Car insurance rates decrease a lot for young drivers in their 20s, compared to what teenagers have to pay. However, the rates for this age group can still be quite high depending on the insurance company you choose.

Travelers provides the cheapest car insurance costs on average at $34 per month or $411 per year for minimum coverage. Travelers costs $112 per month or $1,345 per year for full coverage.

Cheapest Virginia Car Insurance: Adult Drivers

Auto insurance rates are usually the cheapest for people in their forties who drive. You can compare typical car insurance expenses of drivers in their 30s, 40s, and 50s from the top five cheapest companies for each age group below.

Cheapest Virginia Car Insurance For 35-Year-Olds: Erie

Drivers in their mid-30s may insure their cars at the cheapest cost by getting a minimum coverage car insurance policy from Erie. The company offers average minimum-coverage costs of $32 per month or $384 per year. For full coverage, Travelers’s rates average $104 monthly or $1,249 annually.

Cheapest Virginia Car Insurance For 45-Year-Olds: Erie

Forty-five-year-old drivers may find the most affordable minimum coverage from Erie, with average rates of $31 per month or $367 per year. The cheapest full coverage comes from Travelers at $94 per month or $1,122 per year.

Cheapest Virginia Car Insurance For 55-Year-Olds: Erie

Erie generally offers the most affordable car insurance rates in Virginia for people in their 50s. The insurer’s average premiums are $30 monthly or $355 annually for minimum coverage. The cheapest full coverage option is from Travelers, costing $94 monthly or $1,122 annually

Cheapest Car Insurance In Virginia: High-Risk Drivers

Besides the type of coverage and how old you are, how safe you drive is a big factor in determining your car insurance cost. Auto insurers typically determine if you’re a high-risk driver by looking at how many infractions are on your driving record, including speeding citations, at-fault accidents, and DUI convictions.

Average Car Insurance Rates For High-Risk Drivers

Drivers who pose a greater risk have to pay more for their car insurance because they have many violations on their driving records. On average, Virginia motorists who are deemed high-risk may find the most affordable rates from Travelers for minimum coverage or Travelers for full coverage.

Cheapest Virginia Car Insurance For Drivers With A Speeding Ticket: Travelers

Drivers with a speeding citation on their record can generally find the most affordable coverage from Travelers, with average rates of $40 per month or $476 per year for minimum coverage and $143 per month or $1,717 per year for full coverage.

Cheapest Virginia Car Insurance For Drivers With An At-Fault Accident: Auto-Owners

Getting into a car accident in Virginia may lead to higher car insurance costs. Auto-Owners tends to offer the most affordable rates on average at about $38 per month or $458 per year for minimum coverage and $134 per month or $134 per year for full coverage.

Cheapest Virginia Car Insurance For Drivers With A DUI: Virginia Farm Bureau

If you’re a motorist with a DUI conviction, you may find the cheapest minimum car insurance in Virginia from Virginia Farm Bureau for $49 per month or $584 per year on average. They also have rates of $155 monthly or $1,866 annually for full coverage.

Cheapest Virginia Car Insurance For Drivers With Poor Credit: GEICO

People who have bad credit have to spend more money on their car insurance. Those who don’t have the best credit history may want to check out GEICO, which has an average minimum-coverage rate of $52 per month or $624 per year and an average full-coverage rate of $179 per month or $2,148 per year.

Average Cost Of Car Insurance In 10 Virginia Cities

Another thing that affects how much you need to pay for car insurance in Virginia is the location where you reside. Auto insurance companies consider drivers riskier to cover in areas with:

• Larger numbers of people
• There are an increased number of cars driving on the road.
• More car accidents happening at a greater frequency.
• More traffic violations occurring at a greater frequency.
• More incidents of car theft and slashed tires
• Extreme climatic conditions

Certain factors that increase the likelihood of risk have a greater impact on people who own cars in big cities. As a result, drivers in heavily populated cities have to pay the highest average amount for minimum car insurance coverage. On the other hand, drivers in rural areas with lower crime rates and smaller populations are more likely to have access to more affordable insurance rates.

Top 5 Car Insurance Companies In Virginia

Besides the price, we have studied more than 40 insurance companies in Virginia. We looked at how well they cover you, the service they provide, and how reliable they are. From that analysis, we have identified the top five insurers for Virginia residents. Based on our research, we found Travelers to be the best provider for most drivers in Virginia. Here are the ratings for the choices we recommend.

*The overall and category ratings above are based on nationwide factors.

How To Get The Cheapest Car Insurance In Virginia

In Virginia, you have multiple options to reduce the amount you pay for your car insurance. These include:

• Opting for minimum coverage: By purchasing only the least amount of coverage mandated by your state, you can obtain the most inexpensive car insurance available.
• Seeking out discounts: Most insurance companies have multiple discounts that can help cut down on premium costs, from military and good student discounts to discounts for drivers that remain accident free for five years.
• Raising your deductible: A higher deductible will lower your premium costs, but you’ll have to pay more out of pocket if you file a claim.
• Bundling your auto insurance: You can often bundle your auto insurance with a homeowners insurance policy or other type of coverage to earn a discount.
• Comparing quotes: Getting price estimates from several different companies can give you an idea of which provider is likely to offer the most advantageous offer.

Many insurance companies also offer usage-based insurance programs as an excellent way to save money. These programs use telematics to monitor your driving habits–from your speed and braking to the time of day you drive. If you drive safely, you might receive a significant price reduction. However, certain programs may increase your rates if you engage in dangerous driving habits.

Some companies also offer diminishing deductibles and accident forgiveness. A diminishing deductible option decreases your deductible amount each time you renew your policy. Accident forgiveness ensures that your rates won’t increase after your first accident with the company.

What Does Virginia Require For Car Insurance?

Drivers in Virginia must meet minimum insurance requirements as outlined by state law, which include basic liability insurance and uninsured/underinsured motorist (UM/UIM) coverage:

• $60,000 bodily injury liability per accident
• $30,000 bodily injury liability per person
• $20,000 property damage liability per accident
• $50,000 underinsured/uninsured motorist bodily injury coverage per accident
• $25,000 underinsured/uninsured motorist bodily injury coverage per person
• $20,000 underinsured/uninsured motorist property damage coverage per accident
• Car insurance in Virginia is optional, but drivers who do not purchase insurance pay a $600 fee

Liability coverage only takes care of other parties’ injuries and property damages in an accident that you cause. UM/UIM covers your injuries and property damages, but only in the case that the at-fault driver has little to no auto insurance.

Getting comprehensive insurance will ensure that your car is covered if stolen, vandalized, or damaged by floods, fire, animals, or other natural disasters. Collision insurance covers your car repairs after an accident.

Our Take: Best Cheap Car Insurance In Virginia

When it comes to both minimum and full coverage, Travelers is the best and cheapest car insurance company for most drivers in Virginia. While the above costs can give you an idea of what you’d pay for car insurance in Virginia, seeking an individualized rate will help give you a more accurate picture of what you’ll pay.

Many companies offer quick and no-cost tools online to help you get insurance quotes. Alternatively, you can directly contact an insurance agent or representative at the company. Once you have gathered quotes from at least three providers, compare them to find the best option for you.

Best Cheap Car Insurance In Virginia: FAQ

Here are some frequently asked questions about car insurance in Virginia:

How much is car insurance per month in Virginia?

The average cost of minimum-coverage car insurance in Virginia is $54 per month or $652 per year. For full coverage, the average is $179 per month or $2,150 per year.

Is Virginia car insurance cheaper?

Virginia auto insurance is typically cheaper than the national average. Nationwide, the average cost of minimum-coverage insurance is 670peryear,whiletheaverageinVirginiais∗∗670 per year, while the average in Virginia is 670peryear,whiletheaverageinVirginiais∗∗652 per year. For full coverage, residents of Virginia pay about $2,150 per year on average, which is less than the national average of $2,216 per year.

How We Rate Insurers

Our review process aims to deliver consistent and unbiased assessments of car insurance providers. While there are multiple qualities that make a car insurance company successful, our review team focuses on those we believe are the most important for consumers:

• Cost: Cost can be difficult to compare between insurers because so many factors impact annual premiums. The cheapest insurer for one driver may not be the cheapest for another. To determine our cost score, we look at insurance rate estimates generated by Quadrant Information Services, discount opportunities, and consumer reports.
• Coverage: To determine our coverage score, we look at the number of coverage options available as well as coverage limits and deductible options. Our ratings also take into account additional services and benefits like roadside assistance.
• Reliability: It’s important that an auto insurer is able to meet its claims obligations. Companies with a strong financial strength rating from AM Best score best in this category. Established insurers with a long history of reliable service also receive positive marks.
• Service: We comb through customer reviews on sites like the Better Business Bureau (BBB) to learn about customer experiences. Insurers with a low volume of complaints score well in this area. We also consider the claims process, giving higher ratings to car insurance providers that offer easy-to-use claims apps.

*Data accurate at time of publication.