Car Insurance in Richmond

Travelers dominates Richmond's insurance landscape with minimum coverage priced at $423 yearly, 39% below the city's $707 average. Full coverage costs $841 through Travelers, significantly less than Richmond's $1,277 average.

Farm Bureau ranks second with full coverage at $818 per year. Auto-Owners also provides competitive pricing for Richmond residents seeking affordable coverage.

Richmond's insurance market includes both national carriers and regional companies like Farm Bureau that understand Virginia-specific requirements. The city's stable economy and moderate weather patterns compared to coastal Virginia help keep comprehensive claims reasonable.

Young drivers face the highest insurance costs in Richmond, while adults enjoy the lowest premiums. Farm Bureau offers young drivers coverage for $911 per year.

Adult drivers pay $423 annually with Travelers, saving $488 compared to young drivers. Senior drivers get their best deal from Travelers at $590 per year, about 39% more than adult premiums.

Virginia Commonwealth University and the University of Richmond bring thousands of young drivers to the city's Fan District and near West End. Experienced drivers who navigate Richmond's confusing downtown street grid and challenging traffic circles with ease earn lower rates through their demonstrated skill.

Young drivers in Richmond get the cheapest rates from Farm Bureau, which offers minimum coverage at $76 per month. Travelers follows closely at $80 monthly. These insurers consistently outperform others for drivers ages 16 to 25, a group that typically pays higher premiums due to limited driving experience and higher accident frequency. Richmond’s mix of suburban traffic and interstate routes can push rates up for new drivers, making these two companies stand out for affordability.

Adult drivers between 26 and 64 will find the lowest premiums through Travelers, which charges about 43 percent less than the city average. Farm Bureau and Auto-Owners are also strong options for adults with clean driving records. These carriers reliably offer lower pricing in Richmond, where local road conditions and commuting patterns often lead to moderate insurance costs for experienced drivers.

Seniors in Richmond get the best minimum and full coverage rates from Travelers, starting at $49 per month for basic liability and $95 per month for full coverage. Penn National and Farm Bureau also remain affordable choices. These companies maintain consistent pricing for older drivers, which is valuable in Richmond where medical liability expenses can raise premiums for seniors.

High-risk drivers in Richmond can still find competitive pricing depending on the violation. Penn National, Farm Bureau, and Travelers offer the most budget-friendly premiums for drivers with bad credit, DUIs, accidents, or speeding tickets. Their rate structures are more forgiving compared to other insurers that heavily penalize high-risk profiles.

• Bad credit: Penn National (from $90 per month)
• DUI: Farm Bureau (from $45 per month)
• Accident: Travelers (from $48 per month)
• Speeding ticket: Travelers (from $44 per month)

Drivers with bad credit can secure the most affordable minimum coverage from Penn National, which charges $90 per month. Full coverage from the same company averages around $200 per month, keeping costs manageable for those needing broader financial protection. These rates are competitive in Richmond, where credit-based pricing tends to widen the gap between low- and high-risk drivers.

For drivers with a DUI, Farm Bureau offers the lowest premiums at $45 per month, significantly undercutting most carriers in Richmond. Travelers and State Farm also provide better-than-average pricing for this violation. DUI surcharges in Virginia can be steep due to increased accident risk, which makes these lower-cost options particularly valuable.

Drivers with an at-fault accident can find the cheapest rates through Travelers, with monthly premiums starting at $48. Farm Bureau is close behind at $50 per month. These companies apply smaller surcharges for accident history compared to other Richmond insurers, making them top picks for drivers looking to control costs after a recent claim.

For drivers with a speeding ticket, Travelers again offers the lowest rates, starting at $44 per month for minimum coverage. Auto-Owners and Farm Bureau also deliver affordable pricing. Richmond’s busy corridors and interstate access make speeding violations common, but these insurers offer more moderate rate increases than the broader market.

Travelers earned the top ranking in Richmond with a score of 95.17 out of 100. The company excels across pricing, customer satisfaction and claims processing metrics.

Auto-Owners follows closely with a score of 94.53, known for strong customer service and comprehensive coverage options. Both insurers maintain excellent financial stability ratings and low complaint ratios.

Car insurance in Richmond costs an average of $59 per month for minimum coverage and $106 per month for full coverage. These rates rank among Virginia's lowest, making Richmond an affordable market for drivers.

Travelers' minimum coverage rate of $35 monthly highlights the exceptional value available in this market. Your final rate depends on factors like your age, driving history and coverage choices.

In Richmond, car insurance rates by ZIP code range from $54 to $127 per month. ZIP code 23219 is the most expensive, while 23250 is the cheapest. Check the average rates for your ZIP code on the table below.

Richmond drivers face some of Virginia's highest car insurance rates, and sorting through coverage options can feel overwhelming. Our step-by-step guide will show you how to find affordable coverage that fits your needs and budget.

Car insurance rates in Richmond vary based on your driving record, credit and coverage needs. Farm Bureau and Travelers offer the lowest average premiums in the area, but compare quotes from multiple providers to find your best rate.

Get straightforward answers about finding affordable car insurance in Richmond. We'll help you understand coverage options and save money on your policy.

To help Richmond drivers find the most affordable auto insurance companies, MoneyGeek analyzed Richmond auto insurance rates based on data and information from the Virginia Bureau of Insurance and Quadrant Information Services. We studied all ZIP codes in Richmond and hundreds of thousands of quotes for 12 companies offering auto insurance in Virginia to tailor options as closely as possible to you.

Richmond Driver Profile

MoneyGeek created a sample driver profile to calculate car insurance quote averages in Richmond with the following characteristics:

• 40-year-old male
• 2012 Toyota Camry LE
• Clean driving record
• 12,000 miles driven annually
• Good credit
• Valid license
• Currently insured
• No claims history

Certain factors, such as age, driving record, credit score and military affiliation, were adjusted to find the most suitable insurance companies for specific driver profiles.

Coverage Levels in Richmond

MoneyGeek compared the most affordable insurance providers for both minimum and full coverage auto insurance policies.

The minimum coverage requirements in Virginia are:

• $30,000 bodily injury liability per person
• $60,000 bodily injury liability per accident
• $25,000 property damage liability per accident

For a full coverage policy, we used the following coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $100,000 property damage liability per accident
• Comprehensive and collision insurance, each with a $1,000 deductible

Our Best Company Rating Methodology

We rated all companies in Richmond based on the following rating scale:

• Affordability (60% of score): We evaluated quotes for various common driver profiles and compared rates to competition within the city to get this score.
• Customer Experience (30% of Score): Sources like agency reviews on Google, J.D. Power, AM Best and forums like Reddit were used to gauge customer sentiment and experiences across the board to get this score.
• Coverage Options (10% of Score): This score takes into account the amount of coverage options a provider has in addition to the uniqueness of offering and included benefits.