Cheapest and Best Car Insurance Companies in Richmond, VA

Your driving profile, age and coverage requirements will determine the best car insurance company for you. In Richmond, American Family has the cheapest minimum and full coverage car insurance. Auto-Owners Insurance offers the lowest rates after a speeding ticket or at-fault accident, and State Farm is the cheapest for drivers with DUIs. Nationwide is the cheapest for teens and USAA for veterans. Cincinnati Insurance offers excellent customer service and is the best overall.

Based on MoneyGeek's analysis, the following providers offer the most affordable minimum coverage car insurance in Richmond:

• American Family: $257 per year
• Mercury: $292 per year

Kemper is the city’s most expensive minimum coverage insurance company, with a yearly cost of approximately $1,369 as of October 2022. American Family also offers the most affordable car insurance in Virginia, with an average yearly cost of $243 throughout the state. This cost is lower than the insurer’s rates in Richmond, demonstrating how premiums can vary depending on location.

In Virginia, drivers must have minimum coverage insurance for bodily injury, property damage and uninsured/underinsured motorists. The coverage limits are as follows:

• $25,000 bodily injury liability coverage per person
• $50,000 bodily injury liability coverage per accident
• $20,000 property damage liability coverage per accident
• $25,000 uninsured/underinsured motorist coverage per person
• $50,000 uninsured/underinsured motorist coverage per accident
• $20,000 uninsured/underinsured motorist property damage coverage per accident

Bodily injury liability insurance covers costs related to injuries sustained by other individuals in an accident that you caused. For instance, if your bodily injury liability limit is $25,000 per person, your insurance company will cover damages to the other party involved up to that amount. However, damages exceeding this limit will be your responsibility.

For those seeking full coverage insurance, the most affordable options in Richmond are:

• American Family: $632 per year
• Auto-Owners Insurance: $777 per year

Kemper's policies are the most expensive in the city, at approximately $2,381 per year as of October 2022. American Family also provides the cheapest full coverage car insurance in Virginia, with an average cost of $601 per year. The company’s rates across the state are lower than its rates in Richmond, highlighting the impact of location on car insurance premiums.

Full coverage auto insurance policies offer more extensive protection than minimum coverage policies. They include collision and comprehensive coverage on top of meeting state-required liability limits.

• Collision Coverage: Pays to repair or replace your car in case of a covered collision with another object or vehicle.
• Comprehensive Coverage: Pays for damages to your car resulting from events other than collisions, such as theft, vandalism or natural disasters.

MoneyGeek recommends that new vehicle drivers get full insurance coverage to protect their investments. However, a full coverage policy may not be cost-effective if you have an older or low-value car.

MoneyGeek’s study shows that the following car insurance providers offer the most affordable rates in Richmond after a driving offense:

• Speeding Ticket: Auto-Owners Insurance ($864 per year)
• At-Fault Accident: Auto-Owners Insurance ($777 per year)
• DUI: State Farm ($918 per year)

The highest premiums come from National General ($3,506 per year after a speeding ticket), Kemper ($3,562 per year after an at-fault accident) and GEICO ($3,146 per year after a DUI).

Even the most affordable insurance provider will typically charge drivers with violations higher rates.

After a violation, your premium will increase relative to the violation’s severity. In Richmond, your car insurance will cost an average of $455 more after a speeding ticket and $749 more after a DUI. To find affordable car insurance options with a bad driving record, shop around and compare quotes from different providers.

The following car insurance providers offer the most affordable premiums in Richmond for families adding a teen to their policy:

• Nationwide: $1,267 per year for female teens and $1,409 per year for male teens
• Auto-Owners Insurance: $2,342 per year for male teens
• State Farm: $1,860 per year for female teens

Kemper is the most expensive option for teen drivers in the city, with annual rates of approximately $8,557 for females and $10,662 for male teens. Insurance companies typically view male teenage drivers as a higher risk and charge them higher premiums. However, this gender gap tends to decrease by early adulthood.

Car insurance for teen drivers is costly. The most cost-effective way to insure teens is to add them to a family policy. In Richmond, you can save up to $2,272 per year by adding your teenage son to a family policy versus purchasing a separate one. Comparing rates from different providers can also help you find cheap car insurance for teens.

According to MoneyGeek’s analysis, the following are the cheapest full coverage car insurance options for military-affiliated drivers in Richmond:

• USAA: $618 per year
• American Family: $632 per year

The lowest rates for minimum coverage policies for drivers with a military background come from American Family and Mercury, with prices averaging around $257 and $292 per year, respectively.

Getting an online quote in Richmond, Virginia, requires you to provide personal information and takes at least 15 minutes per company. Instead, you can use MoneyGeek's car insurance calculator to get a quick estimate of rates using just your age, vehicle type, driving history and preferred coverage.

Your choice of the best car insurance provider depends on how much you value affordability, service quality and coverage options.

MoneyGeek’s study of auto insurance companies in Richmond determined the highest-performing companies in various categories:

• Best overall: Cincinnati Insurance (MoneyGeek score of 84 out of 100)
• Best for service: Cincinnati Insurance (MoneyGeek score of 74 out of 100)
• Best cheap: American Family (MoneyGeek score of 83 out of 100)

Note that a company’s MoneyGeek rating can differ depending on the category’s weighting. For individuals with a military background, USAA is the top-rated auto insurance provider, with a MoneyGeek score of 85 out of 100.

Additionally, we recognize Progressive as the best overall car insurance provider in Virginia. This disparity between the state and city's top insurers highlights the impact of location on rates, which consequently affects a company's overall rating.

MoneyGeek evaluated affordability, service quality and coverages of car insurance providers in Richmond and found that the best overall are:

• Cincinnati Insurance: MoneyGeek score of 84 out of 100 ($889 per year)
• American Family: MoneyGeek score of 80 out of 100 ($632 per year)

Cincinnati Insurance stands out over its 13 competitors, thanks to its affordable rates and outstanding customer service. It offers excellent value for the money. Additionally, USAA is MoneyGeek’s top choice for drivers with a military background, receiving a score of 85 out of 100.

If customer service is your priority regardless of cost, MoneyGeek's analysis shows that these companies offer the best customer service in Richmond:

• Cincinnati Insurance: MoneyGeek score of 74 out of 100 ($899 per year)
• Erie: MoneyGeek score of 70 out of 100 ($918 per year)

Cincinnati Insurance offers the city’s best customer service and has extensive coverage options. The company is relatively affordable compared to most of the city’s providers. This means it offers outstanding service without charging a premium price.

Based on price and service quality, the following companies offer the best minimum coverage car insurance in Richmond:

• American Family: MoneyGeek score of 83 out of 100 ($257 per year)
• Cincinnati Insurance: MoneyGeek score of 83 out of 100 ($424 per year)

While a minimum coverage policy is the cheapest option, it does not cover liability costs or damage to your vehicle.

MoneyGeek’s research reveals that the average cost of full coverage auto insurance in Richmond is $988 per year as of October 2022. This quote is for a full coverage car insurance policy that includes $100,000 bodily injury liability per person, $300,000 in bodily injury liability per accident and $100,000 in property damage liability per accident.

Car insurance in Richmond is approximately $48 more expensive than the cost of car insurance in the state of Virginia. It’s also $277 cheaper than the national average. These price differences demonstrate how location can impact your car insurance rates.