insurance

Top And Cheapest Auto Insurances in Virginia

Key Takeaways:

  • On average, Virginians save around 30% on auto insurance.
  • USAA is the most affordable major auto insurance provider in Virginia.

The annual cost of auto insurance in Virginia is $1,067. Virginia’s average is $462 less expensive than the national average rate. Your individual driving record, age, and location all play a role in determining how much you pay for auto insurance. To assist you in finding a cost-effective policy that satisfies your needs, you must examine average auto insurance rates in Virginia. Find out Virginia’s vehicle insurance rates so you can determine what a reasonable amount is based on your unique rating variables.

What are the top auto insurance providers in Virginia?

Based on independent reviews, these are Virginia’s top three auto insurance providers.

  • USAA

USAA achieved the highest ratings in The Zebra’s Customer Satisfaction Survey and a score of 890 (out of 1,000) in the J.D. Powers 2021 U.S. Auto Insurance Study.

  • Erie

Regional insurance provider Erie operates in 13 states. In the J.D. Power research, it received an 874 out of 1,000 score, and its customer and claims satisfaction ratings are generally very good.

  • State Farm

Third position goes to State Farm, one of the most well-known insurance providers, with a score of 859.

What are Virginia’s cheapest auto insurance providers?

In the following situations, these businesses provide the lowest prices.

  • USAA offers full coverage at the lowest cost.

USAA has the lowest rates, which are $971 annually or $81 monthly.

  • Cheapest after DUI: State Farm

At roughly $146 a month, State Farm is the most reasonably priced company following a DUI conviction.

  • Cheapest for teen drivers: Erie

Erie is the Virginia insurance provider that offers the lowest rates to teen drivers.

What are auto insurance laws in Virginia?

Virginia, like most states, requires all drivers to carry proof of insurance and a minimum level of auto insurance. In Virginia, having uninsured/underinsured motorist coverage is mandatory in addition to liability coverage; in other states, this coverage is typically optional. Another distinctive feature of Virginia’s auto insurance laws is that, in exchange for a $500 uninsured motor vehicle (UMV) fee, drivers are permitted to operate a vehicle without insurance for a predetermined period of time. But because it puts you at risk, this is not advised. It is less expensive to obtain the legal minimum coverage level than complete coverage, but bear in mind that you will not be covered for your own car. In Virginia, the state minimal level of coverage will run you $408 per year. This proportion is less expensive than the nationwide average by 73%.

State-mandated minimum insurance

If your policy is in force from January 1, 2022, to December 31, 2024, you must carry at least the minimum liability limits indicated below in order to drive legally in the state of Virginia:

  • Bodily injury: $30,000 each person
  • Bodily injury: $60,000 per accident
  • Property damage: $20,000 per accident

The following levels of liability coverage should be added to your policy for plans that go into effect on or after January 1, 2025:

  • bodily injury: $50,000 for each individual
  • bodily injury: $100,000 per accident
  • Property damage: $25,000 per accident

Drivers in Virginia are also required to carry the following limits of uninsured/underinsured motorist coverage:

  • bodily injury: $25,000 per person
  • bodily injury: $50,000 per accident
  • Property damage: $20,000 per accident

Virginia optional coverage (varies per carrier):

  • Comprehensive
  • Collision
  • Coverage of gaps
  • payments for medical care
  • Roadside support
  • Reimbursement for rental cars

A full coverage policy, which includes collision and comprehensive coverage, is what you can buy if you want greater protection than what is required by law. This will shield you from the financial consequences of weather-related disasters, theft, vandalism, and auto accidents. However, more comprehensive coverage is more expensive. In Virginia, the cost of a comprehensive insurance coverage with a $1,000 deductible is $944, which is 131% more than that of liability-only insurance. You should budget 164% more for a full coverage policy with a $500 deductible than for basic coverage.

 

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