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There are nearly 6 million licensed drivers on Virginia roads, and with so many drivers behind the wheel, there are lots of auto insurance companies to choose from in the commonwealth. As such, Virginia Beach drivers typically have their pick of car insurers when looking for the best cheap car insurance.
The average annual auto insurance premium for Virginia Beach is $1,378 for full coverage and $538 for minimum coverage. However, some car insurance companies that offer coverage in Virginia Beach are typically less expensive than others. If you are in the market for the best affordable auto insurance, Bankrate can help. We used data from Quadrant Information Services to find the best cheap car insurance companies in Virginia Beach.
Best car insurance companies in Virginia Beach
The following best car insurance companies offering coverage to Virginia Beach residents are financially strong, offer great customer service and affordable rates. Keep in mind that these premiums are averages – the cost of your auto insurance will ultimately depend on numerous personal rating factors, including your age, gender, ZIP code, motor vehicle record, credit-based insurance score, auto claims history, make and model of your vehicle, and the coverages and deductibles you choose.
|Insurance Company||J.D. Power Score||Average Annual Premium for Minimum Coverage||Average Annual Premium for Full Coverage|
|Erie||880 / 1,000||$427||$1,082|
|Geico||871 / 1,000||$380||$1,203|
|Nationwide||876 / 1,000||$422||$828|
|State Farm||881 / 1,000||$431||$1,050|
Erie is a super-regional carrier that ranks amongst the 20 largest U.S. auto insurers based on its national market share. The company scored 880 on the 2020 J.D. Power Auto Claims Satisfaction Study, seventh out of 25 companies. In the 2021 Auto Insurance Study, Erie ranked second in the Mid-Atlantic region with 856 points. Its high scores in both studies reflect Erie’s ability to handle claims satisfactorily and make timely claim payouts. Additionally, the company carries an A+ (Superior) financial strength rating from AM Best.
Comparing average annual premiums, Erie is in the middle compared to the other best car insurance companies Bankrate recommended for Virginia Beach drivers.
Learn more: Erie Insurance review
With a 13.6% market share, second-highest in the U.S. according to the Insurance Information Institute (Triple-I), Geico is one of the largest car insurance providers in Virginia Beach. Geico also has the cheapest rates on our list of best car insurance companies in Virginia Beach, based on sample data. In the 2020 J.D. Power Auto Claims Satisfaction Study, Geico scored one point below average at 871 points and one point above average in the regional Auto Insurance Satisfaction study with 841 points. Geico is rated A++ (Superior) by AM Best for its financial strength, the highest level possible.
Learn more: Geico Insurance review
Nationwide is the eighth largest car insurance provider in the U.S. based on direct written insurance premiums. Plus, Nationwide also has the second-lowest average minimum coverage premium on our list for Virginia Beach. However, Nationwide ranked ninth in the 2020 J.D. Power Auto Claims Study with 876 points and is also rated below average in the Mid-Atlantic region with 823 points for auto insurance satisfaction. Nationwide also carries an A+ (Superior) financial strength rating from AM Best.
Learn more: Nationwide Insurance review
State Farm is the largest car insurance company in the U.S., with more than 16% of the market share. It has the second-lowest average full coverage rate on our Virginia Beach list and ranks somewhere in the middle for minimum average annual premium. State Farm has 881 points and placed sixth on the 2020 J.D. Power Auto Claims Satisfaction Study, but is the top insurance provider in the Mid-Atlantic region with 855 points earned in the Auto Insurance Satisfaction Study. State Farm is rated A++ (Superior) by AM Best for its financial strength. The company also has a network of exclusive agents to serve customers who like to handle their insurance needs in-person.
Learn more: State Farm Insurance review
Cheapest car insurance in Virginia Beach
The average cost of car insurance is higher in Virginia Beach than the state of Virginia. In Virginia Beach, the average cost for full coverage is $1,378 per year compared to Virginia’s $1,304 per year, and $538 per year for minimum coverage with Virginia’s average cost at $441 per year. However, both are still cheaper than the average annual cost of car insurance in the U.S., which is $1,655 for full coverage and $480 for minimum coverage.
The table below shows the cheapest rates for car insurance in Virginia Beach.
|Insurance Company||Average Annual Premium for Minimum Coverage||Average Annual Premium for Full Coverage|
USAA has the cheapest minimum coverage rates for Virginia Beach drivers on average, but the company’s insurance policies are only available to eligible USAA members. For a full coverage auto policy, Progressive may be the best option for cheap rates compared to its competitors. Each company on Bankrate’s “cheapest” list offers discounts and multiple insurance products to drive down the cost even further, but also have strong financial ratings so you know they can pay out claims when the time comes.
Virginia Beach insurance requirements
For the first time since 1975, Virginia implemented significant changes to its financial responsibility law, effective Jan. 1, 2022. Drivers in the commonwealth are now required to carry the following minimum coverages for liability and property damage:
- $30,000 per person for bodily injury
- $60,000 per accident for bodily injury
- $20,000 per accident for property damage
Although you may want to purchase the cheapest option of minimum coverage, most insurance professionals recommend considering full coverage to reduce the risk of paying money out of out-of-pocket for expensive accidents. If you have a loan, are leasing your vehicle or if your car is still worth a substantial market value, full coverage may be worth the extra cost or may even be required by your lender or leasing entity.
Depending on your coverage options and savings, there are several ways you could help find fuller financial protection with the best car insurance companies offering coverage in Virginia Beach.
Car insurance discounts in Virginia Beach
When you get a quote for an auto policy, whether it is from your current insurance company or one you are shopping for, it is a good idea to ask about discounts. Here are six common discounts that could save you money on your car insurance:
- Defensive driving course: If you successfully complete a driver education or defensive driving course, you might be able to save even more.
- Safe driving/telematics: Many car insurance companies offer safe driving reward programs that track your driving habits via telematics, like speed and brake force. By demonstrating safe driving skills, you may get offered a lower rate through these usage-based insurance programs.
- Good student discount: Insuring teen drivers can be expensive, but if a driver under the age of 25 is on your policy and has good grades in high school or college (typically a B average or better), they may be eligible for this discount.
- Multi-policy: Insuring your car, home and other insurance products with the same company could entitle you to bundling discounts on your existing policies.
- Safety features: Having air bags, anti-lock brakes and other safety features could generate discounts by making your car safer to drive and cheaper to insure.
- Vehicle usage: You may qualify for a discount on your car insurance if you maintain a low annual mileage on your vehicle. Some ways to do this include carpooling to work or averaging less than 7,500 miles per year, which most insurance companies categorize as a low-mileage driver.
Frequently asked questions
What is the best car insurance company?
The best car insurance company is the one that fits your needs the best. Whether you want excellent customer service, 24/7 availability, mobile app features or just the best price, there are options for you to find the best car insurance company in Virginia Beach with cheap rates.
How much does car insurance in Virginia Beach cost?
The average annual premium for car insurance in Virginia Beach is $1,378 for full coverage and $538 for minimum coverage. This is higher than the average auto insurance rates across the commonwealth but less than U.S. averages. However, the actual amount you will pay depends on where you live, the type of car you drive, your driving history, claims history and other individual rating factors.
How much car insurance do I need in Virginia Beach?
Drivers in Virginia Beach are required to carry at least 25/50/20 in liability insurance, which includes bodily injury and property damage liability coverage. However, fault accidents can be very expensive, so it can often make sense to purchase more liability insurance than you are required to have in order to be protected financially. Other policies, like collision and comprehensive coverage, are optional.
How can I get a cheaper car insurance premium in Virginia Beach?
There are many different ways to save money on your auto policy. Taking advantage of discounts is one of the best ways to lower your rate. In addition, you can often save on your auto insurance by improving your credit score and having a clean driving record. Many carriers also offer payment discounts if you enroll in autopay or pay your annual premium upfront and in full.
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.