Cheapest Car Insurance in Virginia (2024 Rates) (2024)

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What Is the Cheapest Car Insurance in Virginia?

Cheapest Car Insurance Coverage in Virginia

Virginia drivers have a great chance of finding affordable car insurance because the state’s average rates are cheaper than the national average, based on our rate data. However, coverage level is one of the greatest determining factors when it comes to the price of car insurance.

Below are the cheapest auto insurance options in Virginia for both liability and full coverage.

Cheapest Liability Car Insurance in Virginia

State Farm offers the cheapest liability car insurance our team could find for Virginia drivers at $28 per month.

Cheap Auto Insurance Quotes in Virginia by ZIP

Below, you can get personalized cheap auto insurance quotes for your specific location in Virginia.

Average Car Insurance Cost Virginia

Virginia Car Insurance Requirements: What You Need To Know

For many years, car owners in Virginia have had the option to pay a $500 uninsured motorist fee to the Department of Motor Vehicles (DMV) in lieu of having liability insurance. In 2023, the state legislature appproved state bill § 46.2-706, which eliminates this option and requires all drivers to carry a minimum liability insurance policy to register a vehicle.

The new law takes effect on July 1, 2024. After this date, car owners have a 30-day grace period to purchase an auto insurance policy that meets state minimum requirements. If drivers fail to comply by the end of this period, the DMV can issue punishments that include:

• A $600 noncompliance fee.
• Suspension of your driver license, vehicle registration and license plates following an opportunity for an administrative hearing. These suspensions are upheld until you pay the noncompliance fee and submit proof of a valid insurance policy.
• A $145 driver license reinstatement fee.

If you are in a hurry to find coverage to be in compliance with the new Virginia car insurance law, you can use the tool located at the bottom of the page to get quick quotes.

Virginia Car Insurance Minimum Coverage Requirements

Even before the new law, Virginia has had minimum coverage requirements for drivers who opt for auto insurance over the uninsured motorist fee. After July 1, all car owners will be required to carry an auto policy that includes at least the following coverages:

• Bodily injury liability insurance: $30,000 per person and $60,000 per accident
• Property damage liability coverage: $20,000 per accident
• Underinsured/uninsured motorist coverage: $30,000 per person and $60,000 per accident
• Uninsured motorist property damage insurance: $20,000 per accident

Virginia Commercial Auto Insurance Requirements

If you own a business, you’re required to have commercial auto insurance coverage that depends on the weight of the vehicle and its use:

• 1-6 people: $350,000 CSL
• 7-15 people: $1.5 million CSL
• 16 or more people: $5 million CSL

For property carriers, requirements are:

• Vehicles more than 7,500 but less than 10,000 pounds: $300,000 CSL
• Vehicles 10,000 pounds or more: $750,000
• Intrastate property carriers: $750,000 CSL

Buying Car Insurance in Virginia: Quick Guide

Whether you’re shopping for a policy for the first time or have had coverage for years, learning more about car insurance can help you get the right policy for your needs and save money. In the following guide, our insurance team provides definitions of key terms and other important information. We also provide some tips on how to choose a policy and find the best rates available.

Car Insurance: Key Terms

When researching and shopping for auto insurance, you’ll come across a few terms that are important to understand. These include:

• Premium: The price of your car insurance policy, paid either at once or across monthly payments. You may also see the terms “rates” or “costs” used to refer to premiums.
• Deductible: The maximum out-of-pocket cost you have to pay towards a covered repair or replacement.
• Loss: An event resulting in damages to people or property. You may see the term “covered loss,” which refers to a loss that falls under coverage outlined in an insurance contract.
• Claim: A request for an insurer to pay for costs related to a loss.
• Exclusion: Items or sources of losses specifically not covered under an insurance agreement.
• Total loss: A loss in which an insurer determines that a vehicle is beyond repair or the cost of repair exceeds its value.

Types of Car Insurance Coverage in Virginia

Beginning July 1, all drivers in Virginia must have a policy that meets the state’s minimum insurance requirements outlined above. Insurers also offer other types of coverage that protect your own assets and potential expenses which you can add to your policy.

Liability Coverage

Liability insurance refers to coverage that pays out claims to other parties involved in an accident you’re found at fault for. There are four components to Virginia’s minimum liability insurance requirements, including:

• Bodily injury liability coverage: Covers medical expenses and related costs for other parties resulting from a collision for which you are found at fault.
• Property damage liability coverage: Covers the cost of repairing or replacing vehicles and other personal property damaged in an accident you caused.
• Uninsured/underinsured motorist coverage: Covers costs related to an accident caused by a driver who lacks coverage or has insufficient coverage.

Full Coverage

The term “full coverage” refers to policies that include coverage for your own property and expenses in addition to liability insurance. In most cases, full coverage policies are recommended to help you avoid potentially-catastrophic financial losses. When insurers and agents use the term “full coverage,” they are typically talking about policies that include the following:

• Collision coverage: Covers the cost of repairing damage or replacing your vehicle and personal property resulting from an accident, regardless of who is found at fault.
• Comprehensive coverage: Covers repair or replacement costs for your vehicle for losses from sources other than a collision, such as theft, severe weather or fire.

Additional Coverage Options

You’ll also find other types of coverage you can add to your policy that help protect against some of the other costs related to losses. Some of the most common include:

• Roadside assistance: Covers emergency assistance costs such as towing, fluid delivery or tire repair and replacement.
• Rental car reimbursem*nt: Covers the cost of a rental car while your vehicle is out of service due to a covered loss.
• Trip interruption: Covers costs such as food and accommodation resulting from a covered loss that happens away from home.
• Guaranteed asset protection (GAP) coverage: Covers the difference between what you owe on a vehicle and what the vehicle is worth in the event of a total loss.
• Rideshare coverage: Covers your vehicle while you use it for providing rideshare services for companies such as Lyft or Uber that aren’t covered by those companies’ policies.

How Insurance Premiums Work: Cost Factors

Car insurance providers base the premiums they offer on a variety of factors related to you and your vehicle. That’s why you may find significant differences in the quotes you get from different providers, even for the same coverage.

The factors that go into your rate calculation include:

• Age: Young drivers and especially teen drivers often pay much higher rates for insurance than drivers in other age groups.
• Location: Insurers adjust their rates to different ZIP codes based on local risk factors, meaning drivers on one side of town may pay more or less on average than their cross-town neighbors.
• Driving record: Drivers with traffic violations such as speeding, accidents, and other blemishes on their driving records tend to pay higher rates than those with clean records.
• Credit score: In Virginia, insurers can use your credit score as a factor in your rates. Drivers with lower credit scores can pay substantially higher rates than those with good scores.
• Gender of record: Drivers listed as male have higher accident rates than those listed as female. As a result, those listed as male tend to pay more for car insurance.
• Deductible: Most insurers allow policyholders to choose the deductible amount for their policy. Higher deductibles tend to result in cheaper premiums and vice versa.
• Vehicle: The make, model and year of your vehicle can also influence your premiums. In general, more expensive cars tend to be more expensive to insure.
• Discounts: Most insurers offer a selection of discounts that can bring down the cost of your policy.

Car Insurance Discounts in Virginia

Car insurance companies tend to offer at least a few discount opportunities. Some of the most common discounts include:

• Multi-policy: Utilize two different insurance policies with the same company and you can save
• Multi-vehicle: You can save if you insure multiple vehicles under one provider
• Military: Save if you’re an active military member or veteran
• Senior: You’re eligible for savings if you’re a policyholder that’s 55 or older
• Homeowners: If you own a home, you may qualify for this discount
• Good student: Students under 25 who maintain a B average in their courses may be able to save
• Good driver: Drivers with a clean record (no at-fault accidents, DUIs or speeding tickets in the last few years) may be eligible for this discount
• Defensive driving: You can save if you take a defensive driving course
• Driver training: Take a driver education training course and get discounts
• New car: Drivers who purchase a new car are able to save
• Safe car: If your vehicle has anti-theft technology or other safety/security devices, then you can save
• Paperless: You’re eligible for a discount if you opt to receive your documents via email
• Pay-in-full: Save on your insurance premium by paying your policy in full, up front

Read more: Car insurance discounts

Virginia Car Insurance Discounts by Provider

The table below compares car insurance discounts by top providers in Virginia, which we’ll discuss in further detail below.

How To Shop for Car Insurance in Virginia

At an average cost of $545 per year for minimum coverage and $1,781 per year for full coverage, car insurance in Virginia is a major purchase for most people. Like most major purchases, the decision about your policy and provider is one worth some research and careful consideration. Following a few steps and shopping strategically could save you a significant amount of money on your next policy. These include:

1. Determine your coverage needs: Insurance experts tend to recommend full coverage policies for most drivers. Many lenders require cars that they finance to have full coverage. However, in some cases, the cost of a full coverage policy may not be worth it for older, inexpensive vehicles. Also consider whether you want to include add-on coverage like roadside assistance and if they fit your budget.
2. Collect information for getting quotes: When you shop for quotes, you’ll need to provide some information to insurers such as your vehicle identification number (VIN), your address, phone number and more.
3. Request car insurance quotes: You can request auto insurance quotes directly from individual providers, but tools such as the ones featured on this page can help you get multiple quotes more quickly. Our experts recommend getting quotes from at least three providers with the same coverage to get an apples-to-apples comparison.
4. Compare auto insurance quotes: Once you receive the quotes you’ve requested, compare them to each other. Cost is likely the most important factor for most drivers, but other factors, such as a provider’s customer service reputation or its apps and online tools are also worth looking into.
5. Ask about discounts: The quotes you receive may not include discounts that you have access to. Call a local insurance agency from providers that give attractive quotes to see what discounts you can apply to your policy to get more finalized prices to compare.
6. Choose a provider: With all the information at hand, use your best judgment to choose the provider that offers the best combination of rates, coverages and service.
7. Shop again soon: Insurance premiums are always changing, meaning it’s always worth it to go through the shopping process regularly. Even if you are happy with your plan and provider, you may still find better rates elsewhere when it’s time to renew.

How To Get the Cheapest Car Insurance in Virginia

There are some factors in your auto insurance premiums that you have no control over, such as your age and driving record. However, there are a few things you can do to try to get lower rates, including:

• Shop around: Again, you have no way of knowing which provider offers you the lowest rates without asking. Take the time to get a few quotes from different providers and compare.
• Raise your deductible: Increasing the amount of your deductible puts you at risk of having to pay more out of pocket towards a claim, but it can also bring the cost of your policy down. Consider the tradeoff between the additional risk and savings.
• Reduce coverage: While coverage add-ons like rental car reimbursem*nt can come in handy when you need them, they add cost to your policy. If you’re trying to save money, consider dropping coverage you can live without.
• Look for discounts: You may be surprised to find out just how much you can save with car insurance discounts. Research the discount options available to you and make sure to get them included in your quotes.
• Take a driving class: Many insurers offer discounts for completing an approved safe driving course, even if you have a clean record. Taking a class can not only net you some savings on your policy, it can also help you avoid accidents and violations.
• Improve your credit score: Bringing your credit score up takes time and dedication, but doing so can potentially save you lots of money on your car insurance policy.

Read more: How to save money on car insurance

How To Get Car Insurance in Virginia

State Farm, Erie, Virginia Farm Bureau, Travelers and USAA often have the cheapest car insurance in Virginia. It’s a good idea to compare car insurance quotes from various companies so you can find the best rates possible for auto insurance policies that meet your needs.

Cheap Auto Insurance in Virginia: The Bottom Line

Car Insurance in Virginia: FAQ

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