Virginia Auto Insurance Rates: Find Affordable Coverage

Finding affordable auto insurance in Virginia is a big deal for many drivers. NerdWallet found that Virginia Farm Bureau is the cheapest, with full coverage at an average of $780 per year or $65 per month. The average cost for full coverage is $1,619 per year or $135 per month.

For minimum coverage, Virginia Farm Bureau offers it for about $309 per year. Drivers can save by comparing quotes from different insurers to get the best rates.

Key Takeaways

• The cheapest full coverage auto insurance in Virginia is Virginia Farm Bureau at $780 per year on average.
• The average cost of full coverage auto insurance in Virginia is $1,619 per year.
• Minimum coverage in Virginia averages $649 per year, but can be found for as low as $309 per year with Virginia Farm Bureau.
• Drivers can save money by comparing quotes from multiple insurers to find the best rates.
• Virginia’s auto insurance costs are generally lower than the national average.

Overview of Auto Insurance Rates in Virginia

Factors Affecting Virginia Auto Insurance Rates

Finding the right auto insurance in Virginia can be tough. But knowing what affects your rates is key to getting a good deal. A recent study by NerdWallet found several important factors that can change your insurance costs.

Age is a big factor in Virginia auto insurance rates. Young drivers under 25 often pay more because they’re seen as more likely to have accidents. But drivers in their 30s to 50s usually pay less.

Your driving record also matters a lot. If you’ve driven safely without any accidents or tickets, you might get lower rates. But if your record isn’t clean, you could pay more.

• Virginia auto insurance companies also look at your credit scores. Drivers with good credit usually pay less.
• The level of coverage you choose is important too. Choosing the state’s minimum coverage costs less than a full policy with extra protection.
• Where you live in Virginia can also affect your rates. Cities like Norfolk and Newport News tend to have higher premiums than rural areas.

Knowing what affects Virginia auto insurance rates helps drivers make better choices. They can find coverage that fits their budget and needs.

virginia auto insurance rates: Comparing Top Providers

Finding the best auto insurance companies in Virginia can seem hard, but help is available. Sites like NerdWallet and Bankrate make it easier. They show that Virginia Farm Bureau, Travelers, Geico, Erie, and State Farm are among the top insurance providers in Virginia for price.

Virginia Farm Bureau is the cheapest for full coverage, with a yearly cost of just $780. State Farm is the cheapest for minimum coverage, at about $330 a year. Erie and Auto-Owners also offer good prices for drivers in Virginia.

It’s smart to compare quotes from several top insurance providers in Virginia. This way, you can find affordable coverage that suits your needs and budget.

“Comparing car insurance quotes from different providers is crucial for Virginia drivers to find the most cost-effective coverage that meets their individual requirements.”

Minimum Coverage Auto Insurance in Virginia

In Virginia, drivers can choose to get minimum coverage for their cars. This means they must have $25,000 for injuries to one person, $50,000 for injuries in an accident, and $20,000 for damage to someone else’s property. This basic coverage costs about $38 a month.

The cost of this basic coverage can change based on things like the driver’s age, past driving record, and credit score. Young drivers, aged 22 to 29, usually pay more, about $552 a year. Those aged 30-59 pay closer to $455 annually.

Factors Affecting Minimum Coverage Rates

• Age: Younger drivers often face higher minimum coverage rates due to their lack of experience and perceived higher risk.
• Driving Record: Drivers with a history of accidents, speeding tickets, or other violations can expect to pay more for minimum coverage.
• Credit Score: Insurers in Virginia may consider a driver’s credit score when determining minimum coverage rates, with those having lower scores typically paying higher premiums.
• Coverage Levels: The specific minimum coverage requirements set by the state can also impact the overall cost of a policy.

To find the most affordable minimum coverage auto insurance in Virginia, drivers should compare quotes from multiple providers. Some of the cheapest options include American Family, which offers an annual premium of $269, and Virginia Farm Bureau, with an average annual cost of $351 for minimum coverage.

While minimum coverage policies may seem like the most budget-friendly option, it’s important to carefully consider the potential risks and consequences of being underinsured. Drivers should weigh their individual needs and circumstances to determine the appropriate level of auto insurance coverage in Virginia.

Full Coverage Auto Insurance in Virginia

In Virginia, the average cost for full coverage auto insurance is about $1,619 yearly or $135 monthly, says NerdWallet. But, the price can change a lot based on the insurance company you pick.

For the cheapest full coverage, Virginia Farm Bureau is a top choice with an average yearly cost of $780. Travelers, Geico, and State Farm also offer good rates, between $959 and $1,185 yearly.

Many things can affect the price of a full coverage auto insurance policy in Virginia. Your age, driving record, credit score, and the coverage limits you choose matter. Keeping a clean driving record and good credit can lower your costs.

It’s smart to look around and compare quotes from different insurers. This way, you can find the best full coverage auto insurance in Virginia for your budget and needs. Knowing what affects rates helps you make a smart choice and get a good deal.

“Protecting your vehicle with full coverage auto insurance in Virginia is a wise investment. It provides the comprehensive protection you need in case of accidents or unexpected events.”

Whether you’re new to driving or have been driving for years in Virginia, checking out your full coverage auto insurance options is a good idea. With some research and comparison, you can find the average cost of full coverage car insurance in Virginia that fits your driving habits and budget.

Auto Insurance Rates for High-Risk Drivers in Virginia

For drivers in Virginia with poor credit or records, finding high-risk auto insurance can be tough. But, insurers like Travelers and Geico offer cheapest car insurance for drivers with poor records in Virginia.

Travelers has the lowest rates for drivers with a recent speeding ticket or accident. Geico offers the cheapest full coverage for those with poor credit. Virginia Farm Bureau is also a good choice for high-risk drivers. It’s key to shop around and compare quotes to find the best rates.

High-risk drivers in Virginia pay about 30% more than low-risk ones. They pay an average of $1,068 a year, while low-risk drivers pay $743. A DUI or accident can greatly increase insurance costs. DUI offenders see a 79% increase, and SR-22 offenders see an 18% rise.

• 33% of fatal crashes in Virginia in 2020 involved alcohol.
• 30% of fatal crashes were due to speeding.
• 13% of fatal crashes were from distracted driving.
• 5% of fatal crashes were hit-and-runs.
• 2% of fatal crashes were from drowsy driving.

Progressive offers the cheapest car insurance for high-risk drivers in Virginia, at $699 a year for those with a DUI. GEICO and Nationwide also offer affordable options for drivers with poor credit or records, at $769 and $2,975 a year, respectively.

The Virginia Automobile Insurance Plan (VAIP) was started in 1972 for high-risk drivers who can’t get insurance elsewhere. By knowing what affects high-risk auto insurance rates and comparing quotes, drivers in Virginia can find affordable coverage.

Young Drivers and Auto Insurance Rates in Virginia

For young drivers in Virginia, especially teens and early 20-somethings, auto insurance can be expensive. But, there are insurers that offer cheaper options for this group.

For 20-year-olds, Travelers has the cheapest full coverage policies, costing about $1 a year. Geico and Virginia Farm Bureau are also good choices for saving money. As drivers get older, their insurance rates usually go down. So, it’s important for young Virginians to shop around for the best deals.

Teen drivers face the highest crash risk, making their fatal crashes more likely to happen with other teens in the car. Driving at night and not wearing seatbelts also increases their accident risk.

To help with the high costs, insurance companies offer discounts for good grades. Nationwide gives the cheapest rates for 19-year-old males in Virginia at $1,144 a year. State Farm offers lower prices for female teen drivers.

By knowing what affects insurance costs for young drivers in Virginia and using discounts, they can find affordable coverage. This way, they can manage their budgets better.

Auto Insurance Discounts in Virginia

Virginians can save money on auto insurance by taking advantage of discounts. Keeping a clean driving record is a common way to cut costs. Companies like State Farm, GEICO, and Travelers offer discounts for safe driving, saving up to 5% on premiums.

Students with good grades can get discounts too, saving up to 25% on their auto insurance. Bundling auto and home insurance can also lead to savings.

• Vehicle safety features, like anti-lock brakes, can earn drivers discounts of up to 30%.
• New policyholders with safe driving histories may qualify for discounts of up to 25% on their initial coverage.
• Participating in usage-based programs like Liberty Mutual’s RightTrack® can provide initial discounts that can increase over time based on driving behavior.

Drivers should check their eligibility for discounts and shop around to find the best rates. By exploring these savings, Virginians can save hundreds on their auto insurance each year.

“Various discount opportunities are available for auto insurance in Virginia, subject to state laws and regulations, and may vary by state, with personalized underwriting criteria and individual qualifications for applicants.”

To find affordable auto insurance in Virginia, compare quotes and use all eligible discounts. Keeping a safe driving record helps too. This way, Virginia drivers can save on car insurance and get the coverage they need at a good price.

Conclusion

Drivers in Virginia can find affordable auto insurance by comparing quotes from different companies. They should also look for discounts. Insurers like Virginia Farm Bureau, Travelers, Geico, and State Farm offer good rates.

Things like age, driving record, credit score, and coverage levels affect virginia auto insurance costs. It’s important for Virginia drivers to shop around. This way, they can find the best insurance for their budget and needs.

Understanding what affects auto insurance prices in Virginia helps drivers make smart choices. Many Virginia drivers pay less for insurance than the national average. This means they can get good coverage without spending too much.

The virginia auto insurance market lets drivers save money while still getting the right coverage. By using discounts, comparing quotes, and considering what affects rates, Virginia drivers can find the best insurance deals. This helps them balance cost and protection well.