There are nearly 6 million licensed drivers on Virginia roads according to the Federal Highway Administration. With this many drivers, there is no shortage of insurance companies vying for the title of best insurance company, especially in Virginia Beach. The average annual car insurance premium for Virginia Beach is $1,378 for full coverage and $538 for minimum coverage.
Even the best car insurance company could offer cheap rates for Virginia Beach residents. Bankrate used financial strength, customer service ratings and premium costs to find the best 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 have strong financials, great customer service and offer affordable rates. The table below shows the top insurers in Virginia Beach with their customer service scores and average annual premiums.
|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|
|MetLife||886 / 1,000||$906||$2,087|
|Nationwide||876 / 1,000||$422||$828|
|State Farm||881 / 1,000||$431||$1,050|
Erie ranks seventh in market share for car insurance in Virginia, insuring 4.1% of vehicles. The company scored 880 on the 2020 J.D. Power Auto Claims Satisfaction Study, seventh out of 25 companies. On the 2020 Auto Insurance Study, Erie came in second in the Mid-Atlantic region with 850 points. Its high scores in both studies reflect Erie’s ability to handle claims satisfactorily and make timely claim payouts.
Comparing average annual premiums, Erie is in the middle compared to the other best car insurance companies in Virginia Beach.
With a 19.6% market share, Geico — also known Berkshire Hathaway — is the number one writer of car insurance in Virginia. Geico also has the cheapest rate on our list of best car insurance companies in Virginia Beach. On the 2020 J.D. Power Auto Claims Study, Geico came in one point below average at 871 points and one point above average on the regional Auto Insurance Satisfaction study with 841 points.
Although MetLife did not rank in the top 10 car insurance companies in the Mid-Atlantic region, it is still in our top pick because of its high study rankings. Metlife came in fifth of 25 companies for Auto Claims Satisfaction with 886 points and seventh with 831 points on the Auto Insurance Satisfaction Study. However, Metlife may not be the cheapest rate in Virginia Beach, as it has the highest rates on our list. To help save on premiums, drivers may consider looking into discounts with the provider like for enabling automatic payments.
Nationwide comes in sixth out of 10 of the most written car insurance premiums in Virginia, but comes in on top as having the second-lowest average minimum coverage premium on our list for Virginia Beach. Nationwide is ninth on the 2020 J.D. Power Auto Claims Study with 876 points and sixth in the Mid-Atlantic region with 835 points for auto insurance satisfaction.
State Farm is the second-largest insurer in Virginia behind Geico, with nearly 15% of the market share. It has the second-lowest average full coverage rate on our list and ranks somewhere in the middle for minimum average annual premium. State Farm has 881 points in sixth place on the 2020 J.D. Power Auto Claims Satisfaction Study, but is the number one insurance provider in the Mid-Atlantic region with 855 points on Auto Insurance Satisfaction Study.
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 $1,674 for full coverage and $565 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, but is only available to military members, veterans and their families. For full coverage, Progressive may be the best bet for cheap rates compared to its competitors. Each company 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
In Virginia, just like most states, you’re required to carry a minimum amount of 25/50/20 liability coverage, which includes:
- $25,000 per person for bodily injury
- $50,000 per accident for bodily injury
- $20,000 per accident for property damage
Although you may want the cheapest option of minimum coverage, full coverage may be necessary in certain situations. If you have a loan, are leasing the car or if your car is still worth a fair amount, full coverage may be worth the extra cost or even required by your lender.
All the rates we provide include more than the minimum requirement. 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, 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 five 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.
- Good student discount: Insuring teen drivers can be expensive, but if a driver under 25 is on the policy with good grades in school, 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 multi-policy discounts on your existing policies.
- Safety features: Having air bags, anti-lock brakes and other safety features could provide 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 low.
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. However, the actual amount you will pay depends on where you live, the type of car you drive and the driving history of you and the other insured individuals on your policy.
How much car insurance do I need in Virginia Beach?
If you are involved in a major accident with high property damage or serious injuries, you will likely need more liability coverage to protect you financially. When getting quotes for car insurance coverage in Virginia Beach, shop around and ask about the best coverage options for your financial picture.
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.