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Cheapest car insurance in Virginia for 2023
The average cost of car insurance in Virginia is $294 per year for minimum coverage, according to Bankrate’s analysis of average rate data. On the other hand, Virginia drivers with full coverage car insurance pay an average of $770 per year. Both of these average car insurance rates are lower than the national average. Nationwide, drivers pay an average of $565 per year while the cost of full coverage averages $1,674 per year.
However, car insurance is based on individual factors, which means that individual driver rates can vary widely from the average. Still, it’s possible to find affordable car insurance in Virginia while also maintaining the right coverage for your needs. To help you get started, Bankrate found the cheapest auto insurance companies in Virginia.
The cheapest car insurance companies in Virginia
Finding the cheapest car insurance companies in Virginia involves comparing the rates for both minimum and full coverage from several national insurance providers. Bankrate utilized Quadrant Information Services and third-party sources to identify the cheapest carriers with financial strength and high customer satisfaction ratings. This provides drivers with an estimate and the ability to make a more informed decision.
Although there are numerous insurance providers offering cheap rates, your exact rates will depend on a variety of personal factors. These factors may include your zip code, vehicle, miles driven, driving history and age.
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The cheapest companies for minimum coverage in Virginia
The five cheapest car insurance companies for minimum coverage in Virginia include USAA, Geico, Alfa, State Farm and Erie. Premiums range from $294 to $350 annually.
The cheapest companies for full coverage in Virginia
If you are looking for full coverage in Virginia, the cheap car insurance companies include:
Events that can impact your cheap rates in Virginia
Finding cheap rates in Virginia is one part of purchasing an auto insurance policy. Certain events or life changes can have an impact on your premiums after you purchase your policy. These include:
- Adding a teen driver: Teen drivers are considered a higher risk to insurance providers. As a result, your premiums are likely to increase if you add a teen driver to your policy. Luckily, there are ways you can possibly cut the costs you incur by adding a teen driver to your policy. This includes taking advantage of discounts for good grades and having your teen take a driver safety course.
- Received a speeding ticket: If you receive a speeding ticket or other moving violation, it is possible your rates will increase. The increase in premiums might be felt for up to three years. It may be possible to lower the cost of your premiums by taking defensive driving classes or completing other driver safety courses.
- Involved in an at-fault accident: Not only are at-faults stressful and scary to deal with, but they can also wreak havoc on your premiums. Some drivers will see an impact for up to five years. Accidents happen, and some insurance providers are less concerned with prior accidents than others, so shopping around for a new carrier with more competitive rates may be a good solution.
- Deemed a high-risk driver: If you are considered a high-risk driver due to factors like being convicted of a DUI or having multiple at-fault accidents in a short period of time, you will likely pay much higher rates for your car insurance. Shopping for insurance providers offering cheaper rates may not only make it more affordable, but may also be necessary if you want to find a provider willing to provide coverage.
Cheapest cities in Virginia for minimum coverage
Rates not only vary from one state to another, but can change depending on the zip code (in states where allowed). The table below shows how Virginia auto insurance rates can vary. This is important to remember if you choose to move within the state, which could have an impact on your rates.
|City||Average annual minimum coverage premium||Average monthly minimum coverage premium|
Cheapest cities in Virginia for full coverage
Full coverage policy costs can also vary by city and ZIP code. The costs are impacted by factors such as cost of living and cost of repairs on vehicles in each area. The cheapest Virginia cities for full coverage auto insurance include:
|City||Average annual full coverage premium||Average monthly full coverage premium|
Minimum coverage requirements for Virginia drivers
Drivers in Virginia are required to carry minimum liability coverage unless the driver is willing to pay the uninsured vehicle fee. The uninsured vehicle fee is a $500 fee paid directly to the DMV that allows you to drive without insurance for 12 months, but does not provide you with any insurance coverage. Massachusetts state minimum coverage includes:
- $30,000 bodily injury liability per person
- $60,000 bodily injury liability per accident
- $20,000 property damage liability per accident
Uninsured and underinsured motorist coverages must be offered but can be declined in writing. Purchasing only the minimum required coverage could put drivers in Virginia in a vulnerable situation. There is no guarantee minimum coverage would cover the entire cost of an at-fault accident — nor will it provide any payment towards the repair or replacement of your own vehicle — which can make it even more difficult to financially recover from an accident.
Here is how to find (and keep) cheap car insurance in Virginia
Finding cheap car insurance rates in Virginia is one piece of the puzzle, but so is keeping your low rates over time. Here are a few things to keep in mind as you navigate through your insurance provider choices and quest for affordable rates:
- Comparing numerous insurance providers is key. The best way to know if you are getting the cheapest rates is to compare a number of insurance providers. Rates vary from one carrier to another, which means you can benefit from shopping around. Keep in mind the coverage limits that are best for you, and be sure to compare coverage options in addition to rates.
- Maintain good driving records and safe driving habits. Maintaining a clean driving record not only keeps you safer on the road, but also helps you qualify for additional savings. Also, as your vehicle ages, you should make it a regular habit to review your policy and adjust coverages as necessary.
Frequently asked questions
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full 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 coverage that meets each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.