Auto Insurance Costs in Virginia

This is one of the most densely populated states in the US with over 8 million residents and well over 5 million drivers. Car insurance rates in Virginia vary hugely and perhaps more than any other place. The difference between the cheapest and the most expensive quotes can be as much as seven times that shopping around to find the lowest becomes essential in the Old Dominion State. Imagine you are paying 7 year worth of premium in one year simply because you didn’t check alternative prices. It certainly isn’t something you can laugh and forget about.

It appears to be a middle of the road kind of place and nothing really out of ordinary in terms of motoring. It neither has the highest or lowest automobile insurance rates. Uninsured Drivers figures (11%) are better than the national average. And many other metrics including living costs, auto ownership and the accident figures are not far off from national averages.

Driving licenses, traffic rules, policies and licensing is legislated by states, rather than the federal government. The local rules and laws can affect the costs negatively or positively. People need to arrange new car insurance after moving to a different state in oder to follow the rules of their new zip code. Quite a few of them allow a transitional period in which you can still keep a current policy from another jurisdiction.

Virginia Liability Requirements

Collection of Pictures from VirginiaBasic liability coverage limits are enforced here too and they are:

  • $25,000 for bodily injury or death per person.
  • $50,000 total for bodily injury or death per accident.
  • $20,000 for property damage. 

You can find more information on the DMV website including the penalties for non-compliance with these laws and who is licensed to sell products from the commissioner’s office.

Most experienced motorists would know that minimum limits are just there to protect the public against people who wouldn’t otherwise want to buy liability coverage, which plays a very important role in defending against any claims due to your fault or negligence. People cannot easily deal with these by themselves as it would be stressful, time consuming and costly. Companies will deal with most of the issues and be there to pay for the damages and injuries. This is a huge relief mentally and financially.

You have a lot more options when it comes to choosing. You will probably be able to find cheap vehicle insurance in Virginia from a few reputable providers that offer good packages. You could have a reasonably priced full policy that includes Collision and Comprehensive coverage as well as many other extras. Don’t settle for the first quote offered to you. Take time to learn and explore more as this point has already been stressed above.

Automobile Insurance Costs in Virginia

Every motorist has a background almost as unique as a fingerprint and therefore it isn’t easy to even guess how much you could pay for a policy. Nearly everything about you affects rates charged to you. Your age, gender, education, driving record, claims, previous coverage details, homeownership, credit score and profession are only some of the factors that are looked at while calculating quotes. Also, the automobile you drive is a very influential factor that makes it even more complicated to guess a premium amount.

However, average vehicle insurance rates offer a good indication about the costs in a state. These figures will help you see where your premium is in comparison to others. So, the average cost is $719, which is derived from dividing the total premium paid to the number of policyholders in the region. On the other hand, you may need to spend around $1,020 for a full coverage.

As you can see above the difference between buying an average policy and full coverage is only $300. However, this gap could be reduced even further by shopping around. Some companies are known to offer better prices for full policies. Actually, some of them aren’t really keen to sell liability only. Perhaps you should find out the differences between full and liability only policies before making any decision.

You can always use an intermediary to help make sense of things. Otherwise, you can search online for more information and get alternative vehicle insurance quotes to compare with each other. Getting them on the Internet is pretty helpful in many ways. In a quick few minutes you find out a lot about what is available in the market and how much your chosen cover will cost. If you are happy with what you are offered you can start looking into providers.

Otherwise, you could change a few things like deductibles and coverage and go for another round. Actually, you could even check prices for a car you are considering buying. The type of vehicle is one of those most influential factors in premium calculations. Therefore, you want to get it right so that you can save many years to come, instead of paying higher premiums. The same applies to choosing a place to live as well. Auto insurance in some zip codes are much more expensive than the surrounding neighborhoods. You can quickly find out how expensive the chosen neighborhood is before paying down a deposit for rent or a new home.

Least Expensive Car Insurance Companies in Virginia

Knowing a few competitive carriers in this state becomes even more valuable when you are aware of the huge price gap. They are listed below to get your quest for the best deals started. You should definitely try them even if it doesn’t go any further than that.

  1. Travelers, $666
  2. Penn National, $733
  3. Cincinnati, $748

The quoted figures are for liability only. You should expect to pay a little bit more for auto insurance in cities like Alexandria, Richmond, Virginia Beach and Norfolk. Also, you should get a few more quotes. Even though we listed some companies above, the best rates for you may come from totally different sources depending on your age and recent record. As a general rule, prices are cheaper for good, experienced and middle aged drivers. Naturally, riskier ones must pay more.