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Best Auto Insurance In Virginia
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According to the Insurance Information Institute (III), auto insurance in Virginia is below the national average. The average driver pays $785 annually.
Every policy is different, and so are the costs of maintaining insurance coverage. Car insurance companies take into account your location, age, gender, and driving history to calculate premiums. Other factors such as credit score, marital status, car type, previous coverage, and mileage can affect how much you pay for insurance.
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In the United States, all drivers must have liability insurance. If you are involved in an accident, liability insurance will cover damage to the other vehicle, the driver and its passengers. If you finance or rent a car, your lender will require comprehensive and collision insurance.
The two main parts of liability insurance are bodily injury and property damage, which most states require. Liability insurance also covers uninsured and uninsured motorists. This policy protects you when you are hit by a wrong driver and you don’t have enough coverage or you don’t have enough coverage.
In Part Three, Virginia requires physical, property, uninsured, and uninsured coverage. Virginia’s minimum liability requirement is 25/50/20 – up to $25,000 in damage coverage per person in an accident, up to $50,000 in damages per event, and up to $20,000 in property damage each time .
Consumer Reports compiled a list of the best cheap auto insurance rates for each state and collected price data from all insurance companies. Here are the top three insurance companies that offer the best interest rates for each credit rating, along with the average annual premium for each:
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In Virginia, for drivers 25 or older with no accidents and one car, the following companies offer the best average prices:
In Virginia, for drivers 25 or older who have had one or more accidents and one car, the following companies offer the best average prices:
The chart below shows the average parents and teen drivers will drive in Virginia. Since teen drivers are new drivers with little driving history and are more prone to accidents, the number is high. Most insurance companies offer discounts to teen drivers for good grades or driving safety ratings.
Older drivers tend to see their car insurance premiums increase as they get older, but not as much as new drivers or teens. If you’re still driving in your 60s and 70s, there are ways to negotiate lower car insurance rates, such as mileage.
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Here are the average annual car insurance premiums per household in Virginia’s most populous city:
Customer satisfaction with the car insurance company can influence your decision. Five factors that create customer satisfaction: billing process and policy information; statement; interaction; Offers privacy and price. Consumer research firm that studies clients. According to the Power 2021 survey, these are the largest auto insurance companies in the Mid-Atlantic region (including Virginia):
Here are the most popular car insurance companies in Virginia, based on the percentage of insured Virginia drivers who use them:
Another way to save is shopping. Each insurance company’s rates are different, and no two insurances are the same. Prices vary depending on whether you get comprehensive or collision coverage.
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Consider the amount and type of coverage included in your quote. Remember that you are looking for the largest coverage for your money. Don’t forget to look at the deductible, or the amount you would pay out of pocket if you had an accident.
Liz is an Insider reporter who covers topics related to personal finance. Prior to joining Insider, he worked independently on financial and auto-related topics for brands such as LendingTree and Credit Karma. He received his BA in writing from Savannah College of Art and Design. He lives and works in Cincinnati, Ohio. You can find her on Twitter @lizknueven.
Previously, Rhonda Lee worked at Personal Finance Insider, which covers life, auto, home and rental insurance to consumers. Prior to joining Business Insider, she was a writer for HuffPost covering politics, education, style, black voices, and entrepreneurship. He is also a freelance writer for PolicyGenius. He works as a lawyer in insurance defense and commercial litigation.
Editorial note: Any opinions, analyses, reviews or recommendations presented in this article are solely those of the author and have not been reviewed, approved, or approved by the card issuer. Read our editorial standards.
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Note: Although the above offer is valid at the time of publication, it is subject to change at any time and may or may not be available anymore.
Business Insider may receive a commission from Media Alpha for clicking on auto insurance quotes, but our reports and recommendations are always independent and objective. In government business in all zip codes. Minimum insurance rates meet the Virginia minimum of $30,000 in personal injury liability and $60,000 per accident, plus $20,000 in property damage coverage. Provides full coverage insurance including collision and comprehensive coverage, as well as liability limits above minimum state requirements.
Additionally, we rate the best Virginia companies based on capacity, customer satisfaction, comfort, and various driver coverages.
Geico has the best minimum auto insurance for Virginia drivers. Your Geico car insurance costs $327 per year, which is $228 less than the national average.
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The average cost of auto insurance in Virginia is $555 per year or $46 per month for minimum liability.
Minimum liability insurance has the cheapest coverage you can buy, which also makes it the cheapest auto insurance. Lower rates can make minimal coverage seem like the best option, but in Virginia, it only covers injuries to other drivers and property damage. This means that you may end up paying more in the long run if you have an accident.
State Farm offers the best comprehensive auto insurance rates in Virginia. State Farm insurance costs just $912 a year or $76 a month, which is 32 percent less than the state average of $1,350.
Comprehensive auto insurance coverage includes collision and comprehensive insurance as well as liability insurance. This means that if your car is damaged in an accident due to your fault or something out of your control (such as hail or vandalism), your insurance company will pay for the repairs.
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Car insurance costs in Virginia are usually higher for drivers with bad credit or a history of driving accidents such as speeding violations, accidents, or DUIs. Insurance companies see these accidents as a sign that you are a high-risk driver, which leads to higher rates.
Virginia drivers with recent speeding tickets can find the best fares with Geico. The average annual premium for Geico full coverage insurance is $938 – $638 less than the national average.
Drivers can expect car insurance rates to increase by 17 percent after a speeding ticket. However, not all insurance companies raise premiums by the same amount. Virginia drivers insured by Geico and Travelers will not see any rate increase after a single speeding ticket. Allstate, the most expensive insurer, raised interest rates by 28 percent.
This big difference explains why it’s important to shop for the best price, especially if your driving history has changed.
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The Farm Bureau has the cheapest auto insurance for Virginia drivers with known fault accidents. It costs $914 for full coverage – 53% less than the state average of $1,955. In fact, the company charges the same price before and after the accident.
Drivers with DUI in Virginia can find the lowest prices at the Farm Bureau, where