The average cost of car insurance that Virginia drivers pay annually is $441 for minimum coverage, and $1,304 for full coverage. This is significantly less than the national average cost of car insurance, which runs $565 per year for minimum coverage and $1,674 for full coverage. Still, most drivers are looking for opportunities to lower rates and are actively searching for the cheapest car insurance in Virginia.
Adequate car insurance is a necessity in Virginia. According to 2015 data from the Insurance Information Institute (III), 9.9% of Virginia drivers were uninsured. The Virginia DMV reported 827 deaths, 65,708 injuries, and 128,172 car crashes occurred in the state in 2019. Car insurance can help protect you financially if you ever get in an accident.
To help you find the best car insurance in Virginia at the lowest rates, Bankrate compiled a list of the top cheapest car insurance providers in Virginia.
The cheapest car insurance in Virginia
Finding cheap car insurance in Virginia can be difficult because there are many car insurance companies providers with varying coverages and differing levels of customer service. In most situations, the cheapest provider is usually a national provider that issues policies across the United States. This is because large providers are often able to offer lower prices compared to local providers due to more distributed risk, and can also provide a greater amount of discounts.
Here are the companies offering the cheapest car insurance in Virginia, based on average annual rates.
|Car insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
For minimum coverage, Geico averages some of the cheapest auto insurance rates in Virginia. For full coverage, it lands middle-of-the-pack among our top providers. However, Geico offsets full coverage rates with discounts. Geico offers a plethora of discounts that many companies are not able to match, and the amount you might save with each discount is significant if you are eligible.
For example, after five years without an accident, Geico may give you up to a 26% discount. Insure multiple vehicles with Geico, and you may save up to 25%. Drive a car with full-front air bags (meaning both driver and passenger), and you could save an additional 40%.
USAA provides insurance services to active and retired military, as well as their eligible family members. Those who qualify have access to one of the best insurance providers in the business. Year after year, USAA receives top awards for its customer service alone. Even better, USAA offers highly-competitive premiums in most states. USAA offers a decent range of discounts, but not as many other companies. However, the discounts it does offer are often suited to active military. If you need to garage your vehicle while you’re on active duty, for example, you could save up to 15%.
Even though Erie Insurance is not the cheapest for either minimum or full coverage, it’s worth consideration. Erie Insurance is highly rated for customer satisfaction by J.D. Power in its 2019 auto claims study. For the Mid-Atlantic region, Erie ranked #2 in the 2020 study. However, Erie only offers a handful of discounts — which are applicable to most drivers. A particularly valuable discount is the discount for college students, helping you save if you or your child isn’t driving as much while enrolled in college.
State Farm offers extremely competitive rates for both minimum and full coverage, and it offers quite a few discounts compared to the industry average. A particular discount of note is the Drive Safe and Save discount, which uses your smartphone to determine how safe of a driver you are. The better your driving habits, the more you save. Another notable discount is the multiple line discount. When you bundle your car insurance with homeowners insurance, renters insurance, or condo insurance, you could save up to an additional 17 percent.
Affordable coverage for Virginia drivers
The minimum amount of coverage required for all Virginia drivers is 25/50/20. This means that your insurance must amount to at least:
- $25,000 per accident for any bodily injuries/death done to another driver
- $50,000 per accident for any bodily injuries/death done to two or more people
- $20,000 per accident for any dealt property damage
Keep in mind that minimum coverage does not necessarily protect you against a total loss. For example, many new cars are more expensive than $20,000. If you total a new car that costs more than your minimum coverage, any amount that exceeds the $20,000 would have to be paid by you out of your own pocket.
How to get cheap car insurance in Virginia
To find the cheapest car insurance in Virginia, there are a few tips to help:
- Shop around: Comparison-shopping is important because each provider weighs premium variables and rate factors a little differently. For example, one provider may factor in your credit score quite heavily, while another may more highly value your driving record.
- Compare discounts: After you’ve determined who the cheapest providers are, you may want to look at discounts. Consider the ones that apply to you and that you may qualify for. You may need to speak to a company representative to determine what you qualify for and how much the savings would be.
- Increase your deductible: If you raise your deductible, make sure you have enough in your savings account to cover it in the event of a claim.
- Improve your credit score: Improving your credit score takes time, so get new quotes every time your policy is up for renewal to see where you can get the best rates.
Frequently asked questions
What is the best car insurance in Virginia?
That depends on what you’re looking for in a provider. Are you looking for best in customer satisfaction, lowest premium, or strongest financial rating? Check out the best Car Insurance in Virginia page to learn more.
What is the average cost of car insurance in the U.S.?
The average cost of full coverage car insurance is $1,738, according to 2021 data from Quadrant information services. Virginia is well under this amount, as the average amount most Virginians pay is $819.77 a year for full coverage.
Is Virginia a no-fault state?
No, Virginia is not a no-fault state. This is why Virginia drivers should strongly consider purchasing more than just the state-required minimum liability.
Does Virginia require underinsured/ uninsured motorist coverage?
Yes, it does. With underinsured/uninsured motorist coverage, once the other person’s policy’s limits are reached, your insurance kicks in. The limits are often the same as the state’s minimum liability requirements. Therefore, if the other driver’s policy paid $20,000 for property damage, your carrier would provide up to an additional $20,000 more if needed.
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 coverages that meet each state’s requirements. Our sample drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.