Driving is an enjoyable experience, especially in the scenic Virginia area. Knowing that you have found the best cheap car insurance in Virginia through diligent research is just a bonus.
The cost of car insurance in Virginia depends on several factors including your age, gender, driving habits, and car model.
Most insurers assess these factors before setting monthly premiums.
Given that the considerable selection of car insurance providers, you need to comparison shop to tell them apart and to choose your preferred option.
Make sure that you have offers in hand to compare as you start the bargaining process to increase your chances of getting cheaper car insurance premiums.
Cheap Car Insurance In Virginia
Here are the top 3 providers of cheap car insurance in VA:
American Family Insurance
With American Family insurance you get all the protection you need under one roof.
The firm is based in Wisconsin and has been in operations for slightly more than nine decades, ensuring its vast experience in the industry.
A notable feature is how it allows its extensive client base to obtain customized solutions.
Since 1937, Progressive Insurance has offered exceptional insurance services, and it provides numerous discount options.
Its Snapshot® program makes sure that your premium rates reflect your driving habits, and the company’s coverage and benefits are among the most comprehensive in the insurance market.
MetLife‘s good financial ratings have made it a permanent fixture in the world of auto insurance.
A good number of third-party agencies rate it highly regarding customer experience and support.
You can also make the most of its group, safe driving, and bundling discounts.
This isn’t necessarily a company that provides you with the cheapest car insurance in VA. But instead, this is a site that will allow you to gather quotes from multiple car insurance companies all in one place.
Established in 2006, QuoteWizard is an online insurance marketplace that links car owners with various policy offerings on the market.
Since 2006, the company has assisted over 32 million shoppers to compare insurance rates from its wide range of partner carriers.
Given its extensive network of carriers, you can be sure to save more money with QuoteWizard.
How Much Is Car Insurance In Virginia?
The average cost of car insurance is lower in Virginia than in neighboring states.
It’s also lower than the countrywide average of $1,009.38, according to the National Association of Insurance Commissioners.
|Average Cost of Car Insurance in California||$986.75|
|Average Cost of Car Insurance in Oregon||$904.83|
|Average Cost of Car Insurance in Nevada||$1,103.05|
|Average Cost of Car Insurance in Arizona||$972.85|
|Countrywide Average Cost of Car Insurance||$1009.38|
The above statistics indicate how the cost of insurance in Virginia fares with that of surrounding states. The premium rates in the state are slightly lower thanks to specific demographics.
Look at how the population density, crime rate, traffic conditions, and disposable income all influence the cost of car insurance in Virginia.
Virginia has a population density of 210 persons per square mile, which is much higher than the national average of 90 persons per square mile.
Its population density is, however, three times lower than nearby Maryland, which has a population density of 611 persons per square mile.
Insurance providers assume that drivers in Virginia are less likely to get involved in road accidents thanks to the lower population density, hence the corresponding lower car insurance premium rates.
Vehicle Theft Rates
Vehicle theft rate is not very rampant in Virginia, and the state does not feature in the top 10 states with the most number of motor vehicle thefts.
That said, the 2016 NCIB’s hot wheels report indicated that the following vehicles are more likely to be stolen in Virginia. :
- Honda Accord
- Toyota Camry
- Ford Pickup
- Honda Civic
- Toyota Corolla
- Chevrolet Impala
- Ford Explorer
- Nissan Sentra
Owners of these vehicles may have to pay higher rates to account for the increased likelihood of theft.
Auto insurance providers are also mindful of the traffic conditions of a particular state as they set their monthly premium rates.
The most important conditions they consider here are the traffic density and rate of accidents.
The former can be calculated as the number of miles each registered vehicle travels and as the number of miles traveled per mile for every roadway.
Virginia has a traffic density of 1,082,222 vehicle miles per highway mile, which is higher than nearby locations such as West Virginia, which has a traffic density of 493,227 vehicle miles per highway mile.
Accident rates, on the other hand, are given per 1000 registered vehicles and 100 million vehicle miles.
Virginia has an accident rate of 0.87 per 100 million vehicle miles which is lower than the national average that is 1.08 per 100 million vehicle miles.
The state’s vehicle miles per registered vehicle are also less than the countrywide average with 11,628 and 12,010 respectively.
The average disposable income in a particular state influences the type of vehicles in the state.
Lower disposable incomes are directly proportional to lower-priced cars, which saves the insurance company money on claims, as more expensive vehicles are costlier to repair. Virginia’s disposable income ($43,904) is slightly higher than the nationwide average per capita disposable income (40,859).
As the difference is minor, this doesn’t translate into considerably higher rates.
What is Mandatory for Car Insurance in Virginia?
The Virginia Department of Motor Vehicles regulates car insurance coverage in Virginia. The department serves approximately 6.2 million licensed drivers with over 7.8 million registered vehicles.
Virginia is one of two states that does not require car insurance or a huge bond to drive. Virginia drivers can skip car insurance and pay $500 to the state annually. The $500 payment, however, does not provide any form of coverage and in case of a collision, the driver who caused it is still liable.
If a Virginia resident purchases insurance the state does mandate minimum coverage amounts including:
- $50,000 for all the injuries in an accident
- $25,000 for injuries on a single person in an accident
- $20,000 for property damage in an accident
Virginia law also requires drivers who have insurance to buy the underinsured or uninsured motorist coverage. This policy is designed to take care of damage and injuries when uninsured or underinsured drivers cause an accident. The minimums on the policy are similar to the liability coverage minimums.
The Virginia Division of Motor Vehicles works together with insurance companies to make sure that its insurance rules are not flawed. It can monitor your insurance status electronically and can suspend your driver’s license, license plates, and vehicle registration if you fail to comply with the regulations.
Suspended drivers must pay a $500 fine to have the suspension lifted, pay a $220 driver’s license reinstatement fee and a 3-year proof of insurance certification.
How To Reduce The Cost Of Your Car Insurance In Virginia
Opting out of car insurance to reduce your monthly expenditure is a foolhardy decision.
There are plenty of options for you to exploit in your quest to pay as little as possible for your car insurance in Virginia.
Seek Out Discounts
Drivers with impressive track records are the greatest beneficiaries of auto insurance discounts. If you can keep your vehicle free from accidents and moving violations for three years, then your premium rates are likely to remain low.
Companies offer discounts on many other grounds too, though, including low annual mileage, anti-theft devices, firm loyalty, defensive driving courses, and a good credit record.
If you have more than one car, use the services of a single insurer to cover both. You can also purchase your household and car insurance from the same provider.
Either of these options can line you up for potential deductions on your monthly premiums. Group plans have also proved worthwhile for employees of the same firm and members of associations.
Reduce Coverage On Older Cars
Older cars have fewer insurance needs compared to newer cars. As such, they may not require comprehensive or collision coverage, especially if the value of the car is less than ten times the cost of the policy.
Dropping these coverage options should save you lots of cash at the end of the month, but you should make sure you that can pay for vehicle replacement or damages.
Go For Higher Deductibles
Deductibles represent what you can comfortably pay in the event of an accident before your insurance policy kicks in. Higher deductibles usually translate to lower comprehensive and collision coverage rates. They should, however, remain within your budget, as it does mean you will have to pay more upfront.
Car insurance agencies ask a host of questions to determine suitable rates for prospective clients. Every application will require information concerning your car, driving habits, and household drivers.
Regarding the car, insurers most often ask for its make or model, any safety features available, its VIN, annual mileage, as well as any anti-theft devices.
You also need reliable information on your area of residence, drivers in your residence, car parking accommodations, and how much deductible you want to pay.
What Can Increase The Cost Of Your Car Insurance In Virginia?
Some factors are known to drive up the cost of car insurance in Virginia. They go beyond your location and depend a lot on your behavior on the road. Your age, driving record, annual mileage, and car model can all cause you to pay more for your car insurance.
Young novice drivers are the riskiest road users. Their limited experience on the road and a higher risk of accident cause auto insurance providers to give them higher monthly premiums.
Some insurers may choose to drop the rates by up to 20 percent for more experienced drivers. Elderly drivers may also pay more due to slower reflexes which increase their accident risk.
Poor Driving Record
The risk to your insurer is directly proportional to your behavior on the road. Higher car insurance rates are a given to drivers with moving violations and accidents on their vehicle record.
The magnitude of the violation largely determines the percentage increase of the rates. Drivers with significant violations pay far much more than those with minor violations like a speeding ticket.
The replacement cost, repair bills, and theft rates of vehicles vary depending on the model of the vehicle.
Insurance providers use data on such factors to determine the cost of your car insurance. High-end vehicles tend to warrant higher auto insurance costs despite their extra safety features.
If you spend a lot of time on the road, then your accident risk is increased. It is always important to inform your insurer when you change your driving patterns. Less mileage may help to reduce your monthly premiums.
With all these factors in mind, you should be able to get the cheapest car insurance in Virginia. Assessing the service providers and insurance options available should make your quest a little simpler.
Shopping for Cheap Car Insurance in VA
To get the cheapest car insurance in Virginia, you need to be familiar with the car insurance companies that offer the best deals, which means you should shop around. Aside from conducting internet research, ask neighbors, co-workers, and friends.
The more independent ratings and reviews you collect, the better informed your final decision will be. While shopping around, remember to get at least three quotes. Factor in their prices, services, and financial strength.
When looking for the best car insurance companies, it helps to start with providers that have been in the industry for a while.*While we make every effort to keep our site updated, please be aware that "timely" information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.