Cheapest Car Insurance in Virginia (June 2024)

Virginia Farm Bureau is overall the cheapest car insurance company in Virginia. MoneyGeek's research shows that Auto-Owners and Nationwide and also offer the cheapest rates for certain types of drivers.

The best car insurance companies in Virginia provide a balance of quality customer service and affordability.

The cheapest car insurance companies for a minimum coverage policy in Virginia are:

• Virginia Farm Bureau: $310 per year
• American Family: $343 per year

Kemper offers the most expensive minimum coverage in Virginia, charging an average of $1,184 per year. In Virginia, a minimum coverage policy only includes bodily injury liability, property damage liability and uninsured motorist coverage.

A minimum coverage policy will protect you against the damages you inflict on other drivers or their property; however, it won’t cover damages to your car. You should buy a full coverage policy with comprehensive and collision insurance for full protection.

MoneyGeek found the following companies offer the cheapest full coverage policies in Virginia:

• Virginia Farm Bureau: $743 per year
• Auto-Owners Insurance Co: $811 per year

Kemper offers the most expensive full coverage car insurance company at $2,184 per year.

Opting for a policy with comprehensive and collision insurance will cause your premium to increase. For example, Virginia Farm Bureau’s full coverage policy costs $433 more than its minimum coverage policy.

However, a full coverage policy covers on-road incidents like hitting a tree and off-road incidents like flooding or other weather events.

The amount of car insurance you need will greatly influence your rates. Our sample full coverage policy has the following limits:

• $100,000 in bodily injury liability per person
• $300,000 in bodily injury liability per accident
• $100,000 in property damage liability per accident

Lowering your liability limits, increasing your deductible for comprehensive, collision, or both, or excluding comprehensive and collision insurance from your policy are ways to save on insurance premiums. However, you won’t have complete financial protection from accidents.

You can get online quotes from various insurers. However, be prepared to spend up to 15 minutes on the process. You must also enter your information and compare rates from multiple websites.

A convenient and quick alternative is MoneyGeek's car insurance calculator. It doesn't require specific personal information and can help you start to find the cheapest car insurance in Virginia.

Age is one of the biggest factors affecting car insurance rates in Virginia. Nationwide offers the cheapest options on average for teens, Virginia Farm Bureau for young adults, and Auto-Owners for seniors.

Based on MoneyGeek's analysis, the cheapest insurance companies for teens on a family policy with full coverage in Virginia are:

• Nationwide: $1,268 per year for male teens and $1,135 per year for female teens
• State Farm: $2,272 per year for male teens and $1,792 per year for female teens

The most expensive company is Kemper, charging $7,784 per year for female teens and $9,603 per year for male teens.

Teens get lower car insurance rates as they get older. The most affordable insurer for 19-year-old males in Virginia is Nationwide ($1,144).

The rates above are what the teen pays on the family policy — not the family's total policy cost. There's a significant difference in policy cost when teens buy their policy compared to when their parents add them to their policy. Plus, if a teen is under 18, they cannot legally purchase insurance without a parent or guardian as a co-signer.

A 16-year-old male driver pays around $5,585 per year for car insurance. However, they will only pay an average of $3,313 annually when added to their parent's policy, a savings of up to $2,272 per year.

Insurers provide discounts to young drivers to help families lower their premiums. For example, State Farm offers discounts for good academic performance and to distant students. Other insurance companies also provide many discounts for teens.

The following companies offer the cheapest rates in Virginia for drivers in their 20s:

• Virginia Farm Bureau: $811 per year
• Auto-Owners Insurance Co: $1,017 per year

Kempro charges the highest rates for young adults, with an average cost of $2,535 per year.

A 25-year-old driver generally pays more for a policy than a 40-year-old driver. In Virginia, providers charge an average of $287 more to insure drivers in their 20s.

Our analysis shows that the following companies offer the cheapest auto insurance for Virginia seniors:

• Auto-Owners Insurance Co: $791 per year
• Virginia Farm Bureau: $805 per year

Kemper offers the most expensive premium at $2,192 for seniors in Virginia. Senior drivers typically pay slightly more for car insurance than middle-aged drivers, but the exact difference depends on the company.

Those in their 60s pay about $13 more on average than drivers in their 30s to 50s. However, rates are sometimes higher for drivers in their 70s or older. This is because insurance companies consider senior drivers more at risk for an accident due to age-related factors, such as slower reflexes and poorer vision and hearing, compared to younger drivers.

Many insurance companies like Allstate and GEICO help senior drivers save on their premiums through discounts. Since insurers analyze various factors besides age to determine rates, you should compare quotes to find the cheapest option.

Auto-Owners is the cheapest provider for drivers with a speeding ticket, at-fault accident, and sports cars. Virginia Farm Bureau is the cheapest provider for drivers with a DUI. Nationwide is the most affordable provider for people with poor credit.

The most affordable car insurance providers in Virginia for drivers with a speeding ticket are:

• Auto-Owners Insurance Co: $833 per year
• Erie: $954 per year

National General is the most expensive car insurance provider in Virginia after a ticket, with an annual rate of up to $3,192. Those with a ticket on their driving record face a substantial financial penalty for car insurance — they pay $391 more for the cheapest company's coverage than those with a clean record.

The following insurance companies have the cheapest rates for drivers with an at-fault accident on their record:

• Auto-Owners Insurance Co: $756 per year
• Virginia Farm Bureau: $979 per year

Kemper offers the priciest policy for drivers with accidents on their records, with an average cost of $3,265 per year. On average, drivers with an accident pay $585 more than someone with a clean driving record.

MoneyGeek’s analysis shows that the cheapest insurance companies for drivers with a DUI in Virginia are:

• Virginia Farm Bureau: $934 per year
• Progressive: $1,129 per year

Cincinnati Insurance charges the most to insure drivers with a DUI in Virginia. A policy with this company costs an average of $2,877 per year. Drivers with a DUI pay as much as $645 more for car insurance than drivers with no violations on their records.

MoneyGeek found the following companies offer affordable rates for drivers with a bad credit score (below 580):

• Nationwide: $1,131 per year
• Virginia Farm Bureau: $1,138 per year

The most expensive insurer for drivers with bad credit is American Family, charging an average of $3,423 per year. The average annual premium for drivers with a credit score below 580 is $905 more than for drivers with a strong credit history (above 750).

Auto insurance companies charge higher rates to insure drivers with bad credit scores because such drivers are more likely to file a claim. Virginia’s laws permit insurers to consider credit-based insurance scores when determining rates.

Comparing rates from different insurers can help you find the cheapest policy. You can also take advantage of various discounts to save on car insurance.

MoneyGeek found that the cheapest car insurance companies for sports car drivers are:

• Auto-Owners Insurance Co: $776 per year
• Travelers: $824 per year

Kemper offers the most expensive policy for a sports car owner, charging an average of $2,639 per year. Insurance costs are generally higher for drivers with a sports or luxury car than drivers with a Toyota Camry, with a difference of $178.

MoneyGeek used a Ford Mustang as the sample sports car for this analysis. Your insurance cost may vary based on your car model. Insurers generally charge significantly high rates to insure electric, luxury or sports cars.

MoneyGeek found that the cheapest car insurance company for veterans and active-duty military members is Virginia Farm Bureau, charging an average of $743 per year.

USAA is another option; USAA tailors its policies to active-duty military members and veterans. Its policies are available in all 50 states and Washington, D.C., and cost an average of $831 per year.

GEICO is another option with military-focused coverages and discounts, which could lead to savings of up to 15% on your policy.

The cost of car insurance can greatly vary based on where you live in the state. Insurance companies will consider you risky to insure and charge higher rates if you live in an area with high theft, vandalism, or accidents.

Hampton is the cheapest city for car insurance in Virginia — Virginia Farm Bureau charges $808 per year for a policy in this city. The most expensive city for car insurance in Virginia is Richmond. Virginia Farm Bureau charges an average of $907 per year to get a policy in this city.

Our list of Virginia cities below can help you compare average car insurance rates based on your location.

Auto insurance laws in Virginia require drivers to carry a policy with at least bodily injury liability (BDL) and property damage liability (PDL) coverages. It also makes purchasing uninsured/underinsured motorist coverage mandatory, which most states do not require.

Virginia drivers must have an auto policy that meets the state’s minimum requirements. Based on the state’s law, drivers should purchase bodily injury liability (BDL), property damage liability (PDL) and uninsured/underinsured motorist coverages.

You will pay less for a minimum coverage policy; however, it might not offer sufficient protection. Even though it’s your personal decision, you should buy as much liability coverage as possible based on MoneyGeek’s recommendations.

Drivers with serious violations must file an SR-22 in Virginia, and those with a DUI must file an FR-44. You’ll likely need more coverage with such violations on your record.

Based on MoneyGeek’s recommendations, you should get a policy with $100,000 in bodily injury liability insurance per person, $300,000 in bodily injury liability insurance per accident and $100,000 in property damage insurance per accident.

Drivers who have financed or leased their vehicles must buy comprehensive and collision insurance. Collision insurance protects against damages if your vehicle hits an object or another car on the road. Comprehensive insurance covers your vehicle's repair or replacement cost if it’s stolen or damaged due to vandalism or weather hazards.

You should always consider buying comprehensive and collision insurance if you own a luxury or sports car.

An alternative to a car insurance policy in Virginia for business vehicle owners is a certificate of self-insurance from the Virginia Department of Motor Vehicles. With self-insurance, drivers pay the cost of damages caused in an accident.

You must submit the following documents to get a certificate of self-insurance in Virginia:

• List of vehicles registered in Virginia
• FR 302, Application for Self-Insurance
• Latest consolidated financial report certified by a reputable firm of CPAs

Although this certificate is continuous, you must file a financial statement at the end of each fiscal year.

MoneyGeek answers the following commonly asked questions to address concerns regarding the cost and quality of car insurance in Virginia.