How Much Is Car Insurance in Virginia? (2023 Averages)
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Factors that affect the cost of a car insurance policy include coverage amount and driver profile. For example, the average driver in Virginia pays around $790 per year for full coverage but only $433 for a state minimum policy. Adding a teenage driver to a policy increases the full coverage premium to roughly $2,202, while a violation brings the rate to $977 per year on average.
Your chosen insurance company also impacts how much you spend on car insurance annually in Virginia. For example, a full coverage policy from Progressive has an average annual premium of $504. In comparison, Allstate charges around $908 per year for the same policy.
The Average Cost of Car Insurance in Virginia
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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- DriverAverage Annual PremiumAverage Monthly Premium
- The Average Driver$790$66
- Drivers Buying Minimum Coverage$433$36
- Adding a Young Driver$2,202$184
- Drivers With a Violation$977$81
- Drivers With Poor Credit$1,263$105
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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
If you’re on a budget, your best bet is to purchase a state minimum policy in Virginia. However, it is possible to adjust your liability limits to get more protection, for example, to 50/100/50 or 100/300/100.
These numbers are shorthand for the liability coverage levels of your Virginia car insurance policy. For example, 50/100/50 translates to:
- $50,000 in bodily injury liability per person
- $100,000 in bodily injury liability per accident
- $50,000 in property damage liability per accident
Full coverage car insurance also includes comprehensive and collision coverage, which helps you pay for damages to your car.
Average Cost of Car Insurance 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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- CompanyMinimum CoverageFull Coverage
- $333$504
- $333$664
- $350$670
- $350$676
- $439$714
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
- DUI$1,414
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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
- Excellent$633
- Good$759
- Fair$905
- Below Fair$1,076
- Poor$1,263
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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- CityAnnual Premium
- $843
- $762
- $763
- $739
- $816
- $819
- $777
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.
About Mark Fitzpatrick
sources
- 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.