One of the many things that aid in calculating car insurance rates is where you keep your car in Virginia. Cities with larger populations like Burke, Centreville, and McLean tend to have higher rates, whereas areas with less crime or weather claims profit from lower rates.
The illustration below shows the most expensive areas in Virginia for uninsured drivers to buy car insurance in.
|Rank||City||Premium Per Year|
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Information shown are comparative as specific Virginia garaging address can lower or raise insurance rates substantially.
The vehicle you are trying to insure is a significant factor that determines the availability of economical insurance for uninsured drivers. Vehicles with economical engines, advanced safety features, or a positive history of liability claims will cost much less to insure than higher performance models.
The data below shows car insurance costs for a number of the most cost-effective automobiles to buy coverage for.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Edge SE 2WD||$507|
|Ford Explorer Eddie Bauer 2WD||$517|
|Ford Focus SE 4-Dr Sedan||$534|
|Ford Escape Limited 2WD||$539|
|Honda CR-V EX-L 4WD||$547|
|Chevrolet Malibu LS||$545|
|Jeep Grand Cherokee Laredo 2WD||$551|
|Jeep Wrangler Sport 4WD 2-Dr||$547|
|Hyundai Elantra GLS Touring Station Wagon||$565|
|Kia Optima LX||$584|
|Hyundai Sonata GLS 4-Dr Sedan||$590|
|Nissan Altima 3.5 SR 4-Dr Sedan||$585|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$594|
|Ford Fusion SEL AWD 4-Dr Sedan||$622|
|Toyota RAV4 2WD||$624|
|Chevrolet Equinox LS 2WD||$634|
|Toyota Camry Hybrid||$624|
|Honda Accord EX-L 2-Dr Coupe||$630|
|Ford F-150 XLT Regular Cab 4WD||$633|
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Data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Prices do not factor in Virginia location which can revise prices greatly.
Based upon the rates shown, we can infer that models like the Ford Edge, Toyota Prius, Ford Explorer, Ford Focus, and Ford Escape will be some of the most economical vehicles to insure for drivers with no prior coverage.
Comparison of full coverage and liability-only policies
Paying a lower price for car insurance is important to most vehicle owners, and a good way to buy cheaper insurance for uninsured drivers in Virginia is to not buy comprehensive and collision coverage. The information below shows the comparison of car insurance rates with and without full coverage. The information is based on no tickets, no at-fault accidents, $250 deductibles, drivers are not married, and no additional discounts are factored in.
If we average the cost for ages 20 through 70, comp and collision coverage costs $1,358 per year over and above liability coverage. That raises the question if you should buy full coverage. There is no definitive formula of when to exclude full coverage on your policy, but there is a general guideline. If the yearly cost of full coverage is more than 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.
There are some situations where eliminating full coverage is not recommended. If you haven't paid off your loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not opt for liability only.
The example below shows how different deductible levels can affect insurance prices when quoting cheap insurance for uninsured drivers in Virginia. The premiums assume a married female driver, comp and collision included, and no other discounts are factored in.
As shown above, a 50-year-old driver could lower their car insurance rates by $176 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $266 by choosing a $1,000 deductible. Youthful drivers, like the 20-year-old, could shave $436 or more by using higher deductibles when buying full coverage. When insureds make the decision to increase the deductibles on their policy, it is essential to have enough funds in savings to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Get discounts on Virginia auto insurance rates
Car insurance companies that offer quotes for uninsured drivers may also offer policy discounts that could potentially reduce rates by as much as 25% or more if you meet eligibility requirements. Larger car insurance companies and their offered discounts are:
- Farmers Insurance may include discounts for early shopping, electronic funds transfer, teen driver, mature driver, bundle discounts, and business and professional.
- State Farm may offer discounts for good student, student away at school, multiple policy, anti-theft, safe vehicle, and defensive driving training.
- Liberty Mutual has discounts for good student, newly retired, teen driver discount, multi-policy, hybrid vehicle, and new move discount.
- MetLife includes discounts for accident-free, good driver, good student, multi-policy, defensive driver, claim-free
- Progressive policyholders can earn discounts including online quote discount, good student, multi-policy, multi-vehicle, continuous coverage, and online signing.
The chart below illustrates the difference between insurance costs with and without discounts applied to the premium. The information is based on a female driver, no tickets, no at-fault accidents, Virginia state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with defensive driving course, claim-free, passive restraint, marriage, homeowner, and safe-driver discounts applied. When drivers qualify for the discounts, the average amount saved each year on car insurance for uninsured drivers is 28% or $287.
Shop around and save
Virginia car insurance rates are determined by lots of factors which can significantly increase or decrease the price you have to pay for coverage. Turning one year older, moving to a different location, or getting a few speeding tickets can trigger changes in premium resulting in some rates now being more affordable than the competition.
Not only may your risk profile change, but car insurance companies file new Virginia auto insurance rates every year to ensure their profitability. Heavy losses may cause price increases, while lower claim expenses may cause cheaper Virginia car insurance rates.
The chart below shows the companies that have the cheapest car insurance in Virginia for a 35-year-old female driver with a good driving record, no prior claims, and a good credit history. When quoting prices based on her personal risk profile, Travelers may offer the cheapest car insurance rates in Virginia at $653 each year. This is $505 less than the average price paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Auto-Owners are also included in the cheapest Virginia auto insurance companies.
Now we will pretend the driver from the first example a claim, less-than-perfect credit, and a speeding ticket. Since every car insurance company uses their own formula for determining prices, getting updated rate quotes will most likely result in a different ranking of the cheapest car insurance companies in Virginia as shown below.
Utica National now has the lowest price in Virginia with The Hartford, Virginia Farm Bureau, Donegal Mutual, and Nationwide completing the list. This example shows why Virginia drivers need to compare lots of rates to find the lowest insurance rates for uninsured drivers.
Insurance rates consist of many risk factors and change frequently, so the cheapest option when you bought your policy may now be priced much higher than other options.