Virginia drivers pay $441 annually for basic coverage and $1,304 to get full coverage. This is considerably lower than the national average car insurance cost, which is $565 annually for minimum coverage, and $1,674 per year for full coverage. However, many drivers are still looking for ways to reduce their rates and actively search for the lowest car insurance in Virginia.
Virginia residents need adequate car insurance. According to the Insurance Information Institute (III) 2019, 10.5% of Virginia drivers were not insured. Other than the 128,172 automobile accidents in Virginia in 2019, Virginia drivers should be aware of other events such as dear collisions which were up 11% over the previous year. Insurance can protect you from both the more common and more unusual types of injury or damage.
Bankrate has compiled a list highlighting the best and cheapest car insurance providers for Virginia . Each provider was evaluated for their 2021 average premium, coverage, and availability of discounts.
Virginia has the cheapest car insurance
It can be hard to find cheap car insurance in Virginia because there are so many companies offering different coverages and providing different levels of customer service. The national provider, which issues policies all across the United States, is often the best option. Larger providers can often offer lower prices than local providers because they have more risk and may also be able to provide greater discounts.
Bankrate created a list of car insurance providers in each state. This was based on their market share and compared their average annual premiums to find the most affordable options. The companies below offer competitive state rates and great coverage, as well as meaningful discounts that will add more value to your money.
Erie
Erie has a lower rate than Virginia’s average, even though it doesn’t offer full or minimum coverage at the lowest rates. Policyholders can get coverages that are not available with other companies for a slight premium increase. Erie’s Rate lock guarantee could include accident forgiveness or diminishing deductibles.
J.D. rates Erie highly for customer satisfaction. J.D. Power’s 2020 Auto Claims Study placed seventh, just behind other national providers. Erie offers several discounts that are available to all Virginia drivers. The discount for college students is a great way to save money if you are not driving as often while you’re enrolled at college.
Geico
Geico offers the lowest minimum coverage in Virginia, even though most drivers prefer to buy higher amounts. Although its full coverage premiums are lower than the average in Virginia, they will still keep you at affordable rates. Geico offers discounts to offset its full coverage rates, which is in addition to its trusted insurance reputation. Geico offers a wide range of discounts that few companies can match. The savings you could make with each discount are significant, if you are eligible.
Geico might offer a 22% discount if you have been in an accident-free five year period. Geico can save you up to 25% if you insure multiple vehicles. You could save 23% or more on your personal injury and medical insurance if you drive a car equipped with air bags.
State Farm
State Farm offers competitive rates on minimum and full coverage. It also offers a number of discounts that are well below the industry average. One discount that is worth mentioning is the Drive safe and Save discount. This discount uses your smartphone’s GPS to determine how safe you are as a driver. You could save more if you have better driving habits. The multiple-line discount is another notable discount. You can save an additional 17% if you combine your car insurance and homeowners insurance, renters, or condo insurance.
There are agents in more than 160 Virginia cities and towns that can help you find out which discounts may apply to you, or how you can get the most from your State Farm coverage.
USAA
USAA offers insurance services to retired and active military as well as eligible family members. All those who are eligible have access to the best insurance provider in the industry. USAA is awarded top customer service awards every year. USAA also offers competitive premiums in many states, including Virginia, where it costs less than $400 per month for full coverage.
USAA offers discounts that are comparable to other companies, but they do not offer as many. The discounts that USAA offers are often appropriate for active military personnel. For example, if you have to park your car while on active duty, you can save as much as 15%
Virginia drivers must have minimum coverage
25/50/20 is the minimum coverage required for Virginia drivers. Your insurance must be at least:
- $25,000 per accident for bodily injury/death to another driver
- $50,000 per accident for bodily injury/death to more than two people
- $20,000 per incident for property damage
You should remember that minimum coverage doesn’t necessarily cover you against total loss. Many new cars cost more than $20,000. For example, many new cars are more expensive than $20,000. Any amount above the minimum coverage would need to be paid outright.
Full coverage, even if you are looking for affordable options, is worth paying to prevent being liable for any damage to your vehicle. Your lender may require collision and comprehensive coverage if your vehicle is leased.
How to Get Virginia Car Insurance at a Cheap Price
Here are some tips to help you find the best Virginia car insurance.
- Because each provider sets your premium differently, it is a good idea to shop around One provider might heavily consider your credit score, while another may place more importance on your driving record.
- Compare discounts: Once you’ve determined which providers offer the lowest prices, you might want to consider discounts. You may find state pages on provider websites that provide details about discounts for drivers in Virginia. You may be eligible for some of the discounts that are available to you. To verify your eligibility and the amount of savings, you may need to talk to a representative from the company.
- Your deductible should be increased: Insurance experts recommend that you ensure that you have enough funds to cover any costs in the case of a claim.
- Your credit score can be improved. Although it takes time, improving your credit score is often well worth the effort. Credit score is frequently weighed during the underwriting process. Budgeting, paying on time and paying off your debts can all help to build your credit score. A score of 700 or higher is generally considered to be good. This was the average score of Virginia residents in 2020.
Questions frequently asked
What is the best Virginia car insurance?
There are many great Virginia car insurance companies, but it all depends on your criteria. Do you want the best customer service, lowest premium or strong financial ratings? There may be other factors that you are looking for based on your own criteria. Shopping around might help clarify.
What is the average cost for car insurance in the United States?
According to 2021 data, Quadrant Information Services, the average cost for full coverage car insurance was $1674. Virginia’s average annual cost for full coverage is $1,304 per year, which is significantly lower than the national average.
Is Virginia a no-fault state?
Virginia is not a state that does not allow for any fault. Virginia drivers should consider buying more than the minimum state liability.
Does Virginia require underinsured/uninsured motorist coverage?
Yes. With underinsured/uninsured motorist coverage, once the other person’s policy’s limits are reached, your insurance kicks in. These limits often match the state’s minimum liabilities requirements. If the policy of another driver paid $20,000 for damage to property, your policy would pay up to $20,000 more.
How do you find the best car insurance in Virginia?
Car insurance rates can be as personalized as finding the best provider. The best way to find the lowest premium is to shop around, apply for multiple discounts that you are eligible for, and then see if there are any opportunities to make you a low risk insured. Your rates may be affected by factors such as your credit score, your driving record, and consistent coverage.