Buy Cheap Richmond, VA Auto Insurance
The cheapest car insurance company in Richmond, VA, is USAA, but car insurance rates vary for each person. The minimum Richmond, Virginia car insurance requirements are 25/50/20 on liability coverage. Under the right company, you can pay as low as $168/mo. Shop around and compare multiple companies to find the best rates.
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UPDATED: Jul 15, 2021
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- Richmond, Virginia auto insurance costs $1,329 less than the national average
- The most affordable auto insurance companies in Richmond, VA are USAA, GEICO, and Nationwide
- Virginia’s auto insurance requirements are 25/50/20
- Richmond has the highest vehicle thefts in Virginia
On average, Richmond, Virginia auto insurance rates are $2,603 per year, which is about $217 per month. This puts Richmond’s average rate $1,329 less than the national average and $245 more than Virginia’s average for auto insurance.
However, Richmond, VA auto insurance rates depend on the company and other factors that affect auto insurance.
Our guide explains how you can secure cheap auto insurance in Richmond, Virginia, for every age, credit history, and driving record.
Are you trying to find affordable auto insurance in Richmond, VA? Weather the storm of finding great rates by using our quote tool. Enter your ZIP code above to get started.
What is the cheapest auto insurance company in Richmond, VA?
The cheapest auto insurance company in Richmond, VA, is USAA. However, USAA is only available for military veterans and their immediate families. The following most affordable auto insurance companies are GEICO and Nationwide.
Here are the best auto insurance companies in Richmond, Virginia, ranked from cheapest to most expensive:
- USAA – $2,010
- GEICO – $2,365
- Nationwide – $2,535
- Progressive – $2,568
- State Farm – $2,648
- Allstate – $3,495
USAA, GEICO, Nationwide, and Progressive are the only companies in Richmond that offer cheaper than average auto insurance rates. With the right discounts, you can lower your annual costs.
Before you get any discount, auto insurance providers will inspect specific factors that determine your auto insurance rates, such as age, gender, marital status, driving record, and credit history.
The most significant factor is your driving record. Some auto insurance companies provide up to 40 percent off if you have a clean driving record. In addition to no traffic violations or accidents, a good credit score can lower your auto insurance rates even more.
Even your location is a factor. Did you know your neighborhood ZIP code can save you hundreds more if you live in a safer address? The cheapest ZIP code in Richmond, VA, is 85310, and its average auto insurance cost is $176 per month.
If you’re a driver under 25 years old, you could face auto insurance quotes up to $5,900 per year. On the other hand, senior drivers may have auto insurance rates of about $1,500 per year.
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What are the minimum auto insurance coverage requirements in Richmond, VA?
All drivers must have the minimum Virginia auto insurance requirements, which are:
- $25,000 per person and $50,000 per incident for bodily injury liability
- $20,000 per incident for property damage
Some auto insurance agents may recommend uninsured/underinsured motorist coverage to cover the gaps in insurance.
These minimums are very low, and drivers should consider raising these limits and carrying additional auto insurance coverages. In a serious accident, these low minimums won’t fully cover you, and you’ll be left to pay out of pocket for anything not covered.
What affects auto insurance rates in Richmond, VA?
Did you know that your daily commute affects your auto insurance? Even a city’s motor vehicle thefts affect auto insurance quotes.
According to Data USA, it takes the average Richmond driver 21 minutes to get to work. Since Richmond’s average commute is faster than the national average commute time, you may not pay much for auto insurance in Richmond, Virginia.
Richmond, VA’s weather shouldn’t affect your auto insurance rates. Most accidents occur during normal conditions.
However, vehicle theft has a significant impact on comprehensive auto insurance. Higher rates of motor vehicle theft will certainly increase auto insurance costs. The FBI annual statistics reported that Richmond had 854 auto thefts in 2019.
Richmond, VA Auto Insurance: The Bottom Line
Richmond, VA auto insurance rates are more affordable than most cities in the United States. You can save hundreds on auto insurance if you maintain a clean driving record and a good credit score.
Teen and young adult drivers should consider going under a parent or legal guardian’s auto insurance policy to save. Also, you can get discounts for safety and anti-theft features on your vehicle.
Before you buy auto insurance in Richmond, VA, be sure you’ve checked rates with multiple companies. Enter your ZIP code below to get fast, free Richmond, VA auto insurance quotes.