Location plays a huge role in car insurance rates. Car insurance companies in Richmond, Virginia will look at many different variables when calculating quotes, so if you’re looking for the best deal, you should compare quotes from several different insurers.
Compare the Cheapest Car Insurance Quotes in Richmond, VA
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Average Cost of Car Insurance in Richmond
Richmond$819
Virginia$790
US$1,424
Richmond’s average car insurance rate is $819 per year, which is 42.5% lower than the national average. Though this rate is 3.7% higher than the average annual premium in Virginia, you can still get cheap car insurance in Richmond if you look around.
The Best Cheap Car Insurance Companies in Richmond
Car insurance companies in Richmond typically offer rates that are less expensive than those in many other American cities. By comparing rates from different companies, you can find the best deals for your specific circumstances. Progressive’s average premium in this city, for example, is $289 cheaper than the city average. MetLife, meanwhile, charges around $366 more than the average car insurance rates in Richmond.
Company
Amountper year
1. Progressive
In 2020, Progressive ranked #1 in Richmond for the cheapest car insurance for the average driver.
$530
2. USAA
In 2020, USAA ranked #2 in Richmond for the cheapest car insurance for the average driver.
$631
3. Erie
In 2020, Erie ranked #3 in Richmond for the cheapest car insurance for the average driver.
$715
4. GEICO
In 2020, GEICO ranked #4 in Richmond for the cheapest car insurance for the average driver.
$729
5. Nationwide
In 2020, Nationwide ranked #5 in Richmond for the cheapest car insurance for the average driver.
$760
6. State Farm
In 2020, State Farm ranked #6 in Richmond for the cheapest car insurance for the average driver.
$791
7. Travelers
In 2020, Travelers ranked #7 in Richmond for the cheapest car insurance for the average driver.
$844
8. Allstate
In 2020, Allstate ranked #8 in Richmond for the cheapest car insurance for the average driver.
$885
9. Mercury
In 2020, Mercury ranked #9 in Richmond for the cheapest car insurance for the average driver.
$938
10. MetLife
In 2020, MetLife ranked #10 in Richmond for the cheapest car insurance for the average driver.
$1,185
Personalized Quotes to Get You the Cheapest Car Insurance in Richmond
To get the best car insurance in Richmond, having a personalized quote is recommended. Age, gender, credit score, driving history and marital status are just some of the factors that car insurance companies in Richmond look into. Because so many aspects of your personal profile are considered, it’s best to get a quote that suits your unique situation.
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Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
Cheapest Car Insurance in Richmond by Coverage Amount
How much car insurance coverage you purchase in Richmond also affects how much your policy will cost. Coverage includes required liability coverage and optional items like collision, comprehensive, and deductibles.
Visit these guides to learn more:
Virginia Minimum Liability Requirements
| Item | Description |
|---|---|
| Bodily Injury and Property Damage | $25,000 per person, $50,000 per accident and $20,000 for property damage. A more protective level is 100/300/100. |
| Uninsured Motorist | $25,000 per person, $50,000 per incident and $20,000 for property damage. The minimum coverage may not be enough if you're in a serious accident. |
When you get quotes from car insurance companies in Richmond, you’ll see numbers like 50/100/50 associated with some policies. The first 50 refers to $50,000 coverage of medical expenses per individual, while the middle number means there is a $100,000 cap per vehicle for medical expenses. The last number indicates $50,000 for property damage. Note that only a full-coverage plan can cover your own expenses. Most car insurance quotes in Richmond have a difference of around $250 between a liability-only plan and a full-coverage plan.
Average Car Insurance Premiums by Coverage Type
Liability Only
| Company | State Minimumper year | 50 / 100 / 50per year |
|---|---|---|
| 1. Progressive | $346 | $374 |
| 2. USAA | $305 | $349 |
| 3. Erie | $360 | $401 |
| 4. GEICO | $379 | $426 |
| 5. State Farm | $410 | $475 |
| 6. Nationwide | $465 | $483 |
| 7. Travelers | $459 | $511 |
| 8. Allstate | $428 | $481 |
| 9. Mercury | $453 | $525 |
| 10. MetLife | $666 | $751 |
Full Coverage
| Company | 50 / 100 / 50per year | 100 / 300 / 100per year |
|---|---|---|
| 1. Progressive | $471 | $530 |
| 2. USAA | $591 | $631 |
| 3. Erie | $659 | $715 |
| 4. GEICO | $679 | $729 |
| 5. State Farm | $713 | $791 |
| 6. Nationwide | $756 | $760 |
| 7. Travelers | $786 | $844 |
| 8. Allstate | $836 | $885 |
| 9. Mercury | $864 | $938 |
| 10. MetLife | $1,211 | $1,185 |
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Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.
Cheapest Car Insurance in Richmond If You Have Tickets
In Richmond, having a clean driving history can save you quite a bit of money. For instance, an Erie policyholder in Richmond with a clean record pays an average of $715 per year, while a speeding ticket bumps that rate up to around $747. If you have an at-fault accident on your record, you’ll pay $934 on average, and a DUI increases the typical rate to about $1,120.
| Company | Speeding Ticketper year | At-Fault Accidentper year | DUIper year |
|---|---|---|---|
| 1. Progressive | $704 | $911 | $744 |
| 2. State Farm | $865 | $940 | $865 |
| 3. USAA | $762 | $921 | $1,152 |
| 4. Erie | $747 | $934 | $1,120 |
| 5. Nationwide | $940 | $1,098 | $1,295 |
| 6. GEICO | $729 | $1,085 | $1,837 |
| 7. Travelers | $1,176 | $1,237 | $1,367 |
| 8. Allstate | $1,154 | $1,480 | $1,297 |
| 9. Mercury | $1,357 | $1,609 | $1,259 |
| 10. MetLife | $1,450 | $1,761 | $3,402 |
Average Cost of Car Insurance by Postal Code
Car insurance companies in Richmond also look at ZIP codes when determining their quotes. If you live in ZIP code 23223, you could pay around $34 more than drivers in ZIP code 23234. The difference relies on the number of car-related incidents in a specific area, such as uninsured motorists, thefts, accidents and more.
| Zip Code | State Minimumper year |
|---|---|
| 23234 | $802 |
| 23223 | $837 |
Insurance Providers That Serve Richmond
Factors That Impact Insurance Costs in Richmond
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of car thefts also contribute to car insurance rates in Richmond. How Richmond ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Shopping around for car insurance in Richmond could save you $289, which is enough to buy:
96Cups of Coffee
22Months of Your Favorite Streaming Service
Methodology and Assumptions
MoneyGeek’s average premium rates for Richmond are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on overage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.