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Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
Virginia auto insurance rates are slightly below the national average, but a lot depends on the individual driver. With so many factors to consider, it can be tough to work out which companies offer the best car insurance in Virginia.
We looked at several common driver profiles to determine which insurers offer the most competitive coverage for each, and you can check them out below.
Erie Insurance stands out as the best car insurance company in Virginia because of its affordable rates, comprehensive policies, and outstanding customer service. It is the top-ranked company in J.D. Power's U.S. Auto Insurance Study for the Mid-Atlantic region and its average annual premium is just $1,734.
Virginia Farm Bureau Insurance offers some of the cheapest insurance in the state, with an average annual premium of just $1,604. Drivers with clean records could pay even less. However, because it's a smaller insurer, it's more difficult to assess how its customer service stacks up to that of its competitors.
Drivers with clean records pay about $1,478 per year for auto insurance with Erie Insurance. This is well below the state average of $2,141 per year. The company also has strong customer service and claims handling, which can take some of the headache out of filing a claim.
Erie scored highest in J.D. Power's U.S. Auto Insurance Study for the Mid-Atlantic region, and it also earned second place in J.D. Power's U.S. Auto Claims Satisfaction Study. It has an A+ rating with the Better Business Bureau as well.
Price is most people's primary concern when shopping for minimum insurance coverage, and Geico came out on top here. Its average annual premium is just $402 per year -- about $33.50 per month.
USAA is only available to active-duty military members, veterans, and their family members. The organization offers comprehensive policies and industry-leading customer service. Its rates are pretty affordable too, averaging just $1,251 per year in Virginia.
Teen drivers face some of the highest average annual Virginia auto insurance rates at $6,021 per year. But those who work with Virginia Farm Bureau Insurance only pay about $2,324 per year. The company also offers several teen-specific discounts for good grades and completing a driver safety course that could help their customers save up to 25% on their premiums.
Speeding tickets raise the average Virginia car insurance premium to $2,778 per year. But Erie Insurance doesn't penalize drivers nearly as much. It offers to cover them for just $1,609 per year. That's a pretty great deal, considering the company's strong customer service.
The average annual car insurance premium in Virginia is $2,808. This is slightly below the national average of $3,017 per year. But a lot depends on the driver in question. The following table shows the average cost of Virginia car insurance for several driver profiles:
| Driver Persona | Average Monthly Premium | Average Annual Premium |
|---|---|---|
| Overall | $234.00 | $2,808 |
| Drivers with Clean Records | $178.42 | $2,141 |
| Teen Drivers | $501.75 | $6,021 |
| Senior Drivers | $159.25 | $1,911 |
| Military Drivers | $178.08 | $2,137 |
| Drivers with 1 Accident | $250.75 | $3,009 |
| Drivers with 1 Speeding Ticket | $231.50 | $2,778 |
| Drivers with 1 DUI | $365.00 | $4,380 |
| Drivers Seeking Minimum Coverage | $62.58 | $751 |
Here are a few key Virginia auto insurance laws all drivers ought to know.
Virginia is an at-fault state, like most of the rest of the U.S. This means that in a multi-car accident, the driver found to be at fault must pay for the medical bills and property damages for all parties involved. It's different from no-fault states, where each driver bills their own insurer for medical expenses.
Virginia actually permits its drivers to forego auto insurance. However, those who want to do this must pay a $500 annual Uninsured Motor Vehicle (UMV) fee.
Drivers who hope to avoid this fee must purchase at least the minimum coverage limits outlined below. Otherwise, they could have their driver's license and vehicle registration suspended. To be reinstated, they'll need to pay a $600 fee and file a Financial Responsibility Insurance Certificate (SR-22) for three years.
These are the minimum car insurance requirements in Virginia:
These limits are already above average compared to the rest of the nation, and they're poised to rise again in 2025. At this point, all drivers will be required to carry:
Here are a few other things Virginia drivers need to know when shopping for coverage.
Virginia is one of only two states in the nation that doesn't require its drivers to carry auto insurance. This affects all drivers on the road. Even those who have insurance could find themselves in a bind if they're hit by an uninsured driver who cannot pay. So it's wise to invest in uninsured/underinsured motorist coverage if possible.
Even state minimum coverage may not always provide adequate protection. Severe accidents can cost tens of thousands of dollars. The insurance company is only obligated to pay up to the policy limit, leaving the driver on the hook for any extra. That's why many drivers prefer to purchase more than the minimum coverage when they can.
Here are a few tips to help Virginia drivers find the best car insurance deals:
The best car insurance is Erie Insurance, though there are several other excellent providers within the state. The best one for a particular driver depends on several factors including the driver's accident history, vehicle make and model, location within the state, and more.
Virginia doesn't require its drivers to carry insurance. However, those who choose not to must pay a $500 fee, renewable every year. Many drivers will find they can get state-minimum coverage for close to this price.
Drivers who pay Virginia's $500 Uninsured Motor Vehicle (UMV) fee will have to pay for all damages resulting from an at-fault accident out of their own pocket. Those who fail to purchase insurance or pay the $500 fee will have their driver's license and vehicle registration suspended.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
The data found on this page is a combination of publicly available quote data obtained directly from the carrier as well as insurance rate data from Quadrant Information Services. These rates were publicly sourced from the top ten (10) to fifteen (15) carrier markets, within each state, based on annual written premium and should be used for comparative purposes only -- your own quotes may be different.
