The average annual cost of car insurance in Virginia is $790, which is lower than the national average of $1,424 and is the seventh cheapest rate in the country. This average is for multiple locations and companies for a sample driver. MoneyGeek also reviewed averages based on coverage level, age, driving history, credit score and location.
How Much Is Car Insurance in Virginia? Rates by Coverage Level, Age, Driving History and Location
The annual cost for car insurance in Virginia is $790 on average. This average cost is for a 40-year old driver with a full coverage policy and a clean driving record.
The average minimum car insurance coverage for a driver with the above qualifications in the state of Virginia is $433. These prices can vary depending on the characteristics of the driver. If you are a young driver who wants a full coverage policy, you will pay an average of $2,202 per year.
To give you a better idea of how rates change by individual, MoneyGeek has given the average insurance costs in Virginia based on various factors.
Average Cost of Car Insurance in Virginia: Summary
MoneyGeek has classified the average car insurance costs in Virginia based on the most important factors. You can click to know more about the average costs for different driver profiles.
The most important factors that affect average car insurance costs in Virginia are your age and credit score.
Average Costs of Car Insurance in Virginia
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Why are Car Insurance Rates Cheap in Virginia?
MoneyGeek’s research shows that Virginia has the seventh cheapest average car insurance rates in the country because of its low percentage of uninsured vehicles and lower incidences of theft and vandalism.
At 11%, Virginia has one of the lowest rates of uninsured drivers and the state also ranks within the bottom 10 for motor vehicle theft.
All the above reasons contribute to low average insurance costs in the state.
Average Cost of Car Insurance in Virginia: Full Coverage vs. Minimum Coverage
The average annual cost for a minimum coverage policy in Virginia is $433, whereas a full coverage policy costs $790 on average per year. These calculations were performed based on MoneyGeek’s methodology.
The difference between the minimum and maximum average annual cost of car insurance is $357.
The cost of car insurance in Virginia can differ considerably based on the type of coverage you opt for. If you choose a car insurance policy with more features, the cost will increase.
There are a variety of car insurance policies available such as liability coverage, collision insurance and comprehensive coverage. If you buy full coverage car insurance, you get maximum coverage, but it will cost you more.
Average Cost of Car Insurance in Virginia by Coverage Level
Minimum vs. Full Coverage Car Insurance Costs in Virginia - By Company
The insurer you choose has a major effect on your annual car insurance costs. If you are looking for the cheapest liability-only car insurance in Virginia, Progressive is the best choice, on average. The same insurer also offers the cheapest full coverage car insurance policy on average in the state.
USAA is also an affordable option, although it is available only for military families.
On average, MetLife offers the most expensive liability-only and full coverage plan in Virginia.
Average Annual Costs of Car Insurance in Virginia - By Company
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How Much Is Car Insurance in Virginia by Age
Age is another factor that influences the cost of car insurance in Virginia. Generally, the younger you are, the higher the cost of car insurance is since insurers consider young drivers more likely to be involved in accidents as opposed to older drivers. This, in turn, results in higher insurance costs.
Our analysis shows an average difference of $1,412 per year between the cost of adding a 16-year old to their parent’s policy as compared to a 40-year old buying their own policy.
As a young driver, you can save money on car insurance costs by getting added to your parent’s insurance plan. Since first-time drivers are treated the same as young ones, your insurance rates would be similar to those offered to teenagers if you are new to driving.
Average Costs of Full Coverage Car Insurance in Virginia - By Age
How Does Driving History Affect Car Insurance Costs in Virginia?
Drivers who have multiple violations or have been involved in road accidents are classified as high risk and will have to pay more insurance as compared to those with spotless records. Such drivers can still find economical car insurance options in Virginia.
Our analysis shows that drivers with a speeding ticket will have to pay $187 more per year on average than those who have a clean record. The more severe the violation, the costlier the average annual car insurance plan becomes.
Average Costs of Full Coverage Car Insurance in Virginia - By Driving History
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- Driving ViolationAnnual Premium
- Safe Driver$790
- Speeding Ticket$977
- At-Fault Accident$1,183
Credit Scores and the Cost of Car Insurance in Virginia
As per MoneyGeek’s research, if you have an excellent credit score, you will have to pay an average of $126 less per year in Virginia compared to a driver with a good credit score.
You can save significantly on car insurance costs in Virginia if you have a good credit score but can be charged higher on average every year if you have a poor score.
Drivers with a poor credit score will have to pay an average of $504 more per year in Virginia than those with a good credit score.
Drivers with bad credit can still find reasonable insurance plans in Virginia.
Average Costs of Full Coverage Car Insurance in Virginia - By Credit Score
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- Credit ScoreAnnual Premium
- Below Fair$1,076
How Much Is Car Insurance in Your City?
Car insurance costs can not only vary significantly from one state to another but also within a single state.
The city of Newport News has the cheapest average car insurance costs per year, while Alexandria is the most expensive city in Virginia for car insurance. The average annual cost of car insurance in Newport News is $739, whereas in Alexandria, the average cost is $843.
Cities that are densely populated or those with higher chances of road accidents and natural disasters tend to have higher car insurance rates.
Average Costs of Full Coverage Car Insurance in Virginia - By City
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Frequently Asked Questions About Virginia Car Insurance Rates
The ideal car insurance plans in Virginia depend on the driver profile. Examining some of the most common questions about car insurance costs in Virginia will help you decide on the best option for you.
Car insurance quotes across Virginia were collected in collaboration with Quadrant Information Services. These policies were considered keeping in mind a 40-year old driver with complete coverage and a spotless driving record unless adjusted for by factors described above such as age, credit score, prior driving violations and coverage levels. The particular limits of the full coverage policy are detailed on our methodology page.
MoneyGeek also collected state-specific data on traffic, uninsured motorists, the urban share of the population and motor vehicle theft rates.
- Highway traffic density was calculated with 2019 data from the Federal Highway Administration
- Data on uninsured motorists was drawn from 2019 data from the Insurance Research Council
- Urban share of population was calculated using the latest data from the U.S. Census Bureau
- Data on motor vehicle theft rate was drawn from the FBI Crime in the United States Report for 2019
About the Author
- Insurance Information Institute. "What determines the price of an auto insurance policy?." Accessed September 13, 2021.
- Insurance Information Institute. "What is covered by a basic auto insurance policy?." Accessed September 13, 2021.