Auto Insurance in Virginia

This is one of the most densely populated states in the US with over 8 million residence and well over 5 million drivers. Car insurance rates in Virginia vary hugely and perhaps more than any other state. The difference between the cheapest insurer and the most expensive one can be as much as seven times that shopping for the best quotes becomes essential in the Old Dominion State. Imagine you are paying 7 year worth of premium in one year simply because you didn’t shop around to find the cheapest quotes.

It appears to be middle of the road kind of state, nothing really sticks out. The state neither has the highest or lowest auto insurance rates. Uninsured Drivers figures (11%) are better than 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, insurance and licensing is legislated by the state in Virginia as in every other state in America. State 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 state. Quite a few states allow a transitional period in which you can still keep your current policy from another state.

Virginia Liability Requirements

Auto Insurance in VirginiaMinimum liabilities coverage required in VA 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 Virginia Department of Motor Vehicles website including the penalties for non-compliance with driving laws. You can also find out more about the insurers and who is licensed to sell products from the state department.

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. This cover plays a very important role in protecting yourself against any claims due to your fault or negligence. Dealing with these claims on your own would be stressful, time consuming and costly. Your auto insurer 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 coverage policy that includes Collision and Comprehensive coverage as well as many other extras. Don’t settle for the first quote offered to you. Take your time to learn and explore more as this point has already been stressed above.

How Much Does Automobile Insurance Cost in Virginia?

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

However, there is a way of providing indications as to how much is vehicle insurance on average in your state. This average figures will help you see where your premium is in comparison to other policyholders in your state. So, the average cost is $719, which is derived from dividing the total premium paid to number of vehicles in the state. On the other hand, you may need to pay around $1,020 for a full coverage.

As you can see above the difference between buying an average policy and buying full coverage is only $300. However, this gap could be reduced even further by shopping around. Some insurers are known to offer better prices for full coverage policies than liabilities only. Actually, some insurers aren’t really keen to sell liability only policies. Perhaps you should find out what does liability car insurance cover and what does full coverage policy cover before making your mind up.

You could look at your options carefully with the help of a broker and select a good level of coverage to protect yourself. Otherwise, you can search online for more information and get alternative quotes to compare with each other. Online quotes are 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 reliability of the insurer.

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

Least Expensive Car Insurance Companies in Virginia

When you know there is a huge price gap between a cheap and expensive insurer the knowledge of the competitive carriers in your state becomes even more valuable. These companies are listed below to get your quest for the best deals started.

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

The prices quoted are for minimum liability coverage. You should expect to pay a little bit more for auto insurance in cities of VA like Alexandria, Richmond, Virginia Beach and Norfolk. Also, you should get a few more quotes. Even though we listed some companies above the best price company for you may be totally different depending on your age and recent driving record. As a general rule, the cheapest insurers are generally cheap for good, experienced and middle aged drivers. They may not be as cheap for riskier drivers.

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