Finding more affordable Chevy Volt insurance in Virginia Beach may be challenging for drivers not familiar with comparing prices online. With so many insurance agents and companies, it can quickly become a challenge to find cheaper coverage rates on Chevy Volt insurance.
Amazingly, a recent NerdWallet.com study showed that 70% of consumers kept buying from the same company for more than four years, and approximately 38% of consumers have never compared rates with other companies. Most drivers in Virginia could save up to $500 each year just by getting comparison quotes, but most undervalue the actual amount they would save if they switch to a new company.
Just remember that comparing all the rates in your area helps locate more affordable rates.
The auto insurance companies shown below offer free quotes in Virginia. If multiple providers are shown, we suggest you compare several of them in order to find the most competitive rates.
Three reasons car insurance is important
Despite the high cost, maintaining insurance serves several important purposes.
- The majority of states have compulsory liability insurance requirements which means you are required to buy a minimum amount of liability coverage if you don't want to risk a ticket. In Virginia these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If your Chevy Volt has a lienholder, it's most likely the lender will have a requirement that you have physical damage coverage to guarantee their interest in the vehicle. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your Chevy for a lot more money and make you pay a much higher amount than you were paying before.
- Insurance safeguards not only your Chevy but also your assets. It will also provide coverage for many types of medical costs for yourself as well as anyone injured by you. Liability coverage will also pay attorney fees if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, collision and comprehensive coverages will pay to repair the damage.
The benefits of carrying adequate insurance greatly outweigh the cost, especially if you ever need it. According to a recent study, the average American driver is overpaying more than $855 a year so compare quotes from several companies every year to make sure the price is not too high.
How do Insurance Providers Determine Chevy Volt Insurance Prices?
Multiple criteria are used in the calculation when you quote your car insurance policy. Some of the criteria are obvious such as traffic violations, although some other factors are not as apparent like your vehicle usage or your vehicle rating.
- Insurance premiums and driver gender - The statistics show that women are safer drivers than men. Now that doesn't mean males are worse at driving than females. Men and women have auto accidents at a similar rate, but the males cause more damage and cost insurance companies more money. Men also tend to get higher numbers of serious violations such as reckless driving. Males from age 16 to 21 have the highest risk to insure and thus pay the highest rates.
- Consider raising coverage deductibles - Comprehensive and collision coverage deductibles are the amount of money the insured will be required to pay if a covered claim is submitted. Insurance for physical damage to your car, also known as collision and other-than-collision, is used to repair damage to your car. Some examples of covered claims could be rearending another vehicle, animal collisions, and having a roll-over accident. The larger the amount you pay before a claim is paid (deductible), the lower your rates will be.
- Five star crash test rating saves money - Vehicles with good safety scores can get you lower premiums. Vehicles engineered for safety help reduce the chance of injuries in an accident and fewer injuries translates into fewer and smaller insurance claims which can mean better rates for you. If the Chevy Volt has ratings of a minimum four stars on Safercar.gov it may be receiving lower rates.
- Poor driving habits means higher costs - Good drivers get better prices compared to bad drivers. Even a single ticket can increase the cost of insurance forty percent or more. Drivers who have gotten dangerous violations like DUI, reckless driving or excessive speeding may face state-mandated requirements to submit a SR-22 form with their state motor vehicle department in order to legally drive.
- Insure your auto and home with one company - Most larger companies allow lower prices for people who carry more than one policy such as combining an auto and homeowners policy. Even if you're getting this discount drivers will still want to shop around to make sure you are getting the best deal.
- An auto insurance lapse is a bad thing - Driving without insurance coverage in place can get your license suspended and auto insurance companies will penalize you for letting your coverage have a gap. Not only will you pay higher rates, the inability to provide proof of insurance may result in a hefty fine and possibly a revoked license. You may have to prove you have insurance by filing a SR-22 with the Virginia motor vehicle department.
- Small claims can cost you - If you are the type of insured that files lots of claims don't be surprised to see either higher rates or even cancellation. Insurance companies in Virginia give better rates to insureds who are not frequent claim filers. Your insurance policy is meant to be used in the event of more catastrophic claims.
- Insurance loss data for Chevy Volt vehicles - Car insurance companies use data from past claims to help calculate a profitable premium price. Models that the statistics show to have higher losses will have higher rates for specific coverages. The table shown below demonstrates the historical loss data for Chevy Volt vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles averaged together is set at 100. Percentage numbers below 100 indicate better than average losses, while values over 100 indicate more frequent claims or an increased chance of a larger loss.
Chevrolet Volt Insurance Claim Statistics
Specific Chevrolet Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Volt Electric 89 83 81 71 73 90
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Get discounts to get affordable Virginia Beach auto insurance quotes
Auto insurance is not inexpensive, but you might already qualify for some discounts that can help lower your rates. Most are applied at the time of purchase, but a few must be specifically requested before you will receive the discount.
- Seat Belts Save more than Lives - Using a seat belt and requiring all passengers to buckle their seat belts can save up to 15% on medical payment and PIP coverage.
- Discount for Life Insurance - Some companies give lower rates if you buy life insurance from them.
- Multi-Vehicle Discounts - Insuring primary and secondary vehicles with one company can reduce the rates for all insured vehicles.
- Accident Waiver - This one is not really a discount per se, but some insurance companies may permit one accident before they charge you more for coverage so long as you haven't had any claims prior to the accident.
- Senior Discount - Mature drivers are able to get a small discount on rates.
- Defensive Driver Discount - Taking a course teaching defensive driver skills may get you a small discount and also improve your driving technique.
As a disclaimer on discounts, most discounts do not apply to the entire cost. Most only apply to the cost of specific coverages such as collision or personal injury protection. Just because it seems like you could get a free auto insurance policy, nobody gets a free ride. Any qualifying discounts will definitely lower the amount you pay for coverage.
If you would like to see a list of insurance companies that provide some of the discounts listed above in Virginia, click this link.
Are insurance agents of importance?
Certain consumers still prefer to buy from a local agent and often times that is recommended The best thing about comparing rate quotes online is you may find lower premium rates and still choose a local agent.
After filling out this form (opens in new window), your coverage information is transmitted to companies in Virginia Beach who will give you bids for your business. It's much easier because you don't need to even leave your home as quotes are delivered to you. You can find better rates without requiring a lot of work. If you have a need to compare rates from a specific company, feel free to find their quoting web page to submit a rate quote request.
Finding a good provider requires more thought than just the bottom line cost. The answers to these questions are important, too.
- Do they write coverage based solely on cost?
- Do they get paid more for recommending certain coverages?
- What insurance companies do they work with in Virginia Beach?
- Where would glass claims be handled in Virginia Beach?
- Is the agent properly licensed in Virginia?
- How does the company pay claims for a total loss?
- How much can you save by raising your physical damage deductibles?
When narrowing the list to find a reliable insurance agent, it helps to know the two different types of agents and how they are distinctly different. Car insurance agents can be classified as either independent agents or exclusive agents depending on their employer.
Exclusive Insurance Agents
Agents in the exclusive channel work for only one company such as Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents cannot place coverage with different providers so it's a take it or leave it situation. Exclusive insurance agents are usually quite knowledgeable in insurance sales which aids in selling service over price. Some insured continue to buy from exclusive agents partially due to the prominence of the brand rather than low rates.
Below are exclusive insurance agencies in Virginia Beach that can give you comparison quotes.
- Frank Owens - State Farm Insurance Agent
1776 Laskin Rd #102 - Virginia Beach, VA 23454 - (757) 428-3101 - View Map
- Milt Rawles - State Farm Insurance Agent
5265 Providence Rd #200 - Virginia Beach, VA 23464 - (757) 424-4656 - View Map
- Matt Abbott - State Farm Insurance Agent
4646 Princess Anne Rd #103 - Virginia Beach, VA 23462 - (757) 497-1999 - View Map
Independent Car Insurance Agents
Agents that choose to be independent do not write with just one company and that enables them to quote your coverage amongst many companies and find you cheaper rates. If they quote lower rates, they simply move your policy to a different company and that require little work on your part. When comparison shopping, you will want to include at least one independent agent to get the most accurate price comparison. Most independent agents also contract with smaller companies that can offer cheaper rates than bigger companies.
Shown below are independent agents in Virginia Beach that can give you price quote information.
- Towne Insurance
301 Bendix Rd #300 - Virginia Beach, VA 23452 - (757) 468-6100 - View Map
- The Coelho insurance agency
800 Seahawk Cir #142 - Virginia Beach, VA 23452 - (757) 437-9647 - View Map
- Nationwide Insurance: The Braun Agency Inc
6062 Indian River Rd Ste 101 - Virginia Beach, VA 23464 - (757) 420-2060 - View Map
What is YOUR best insurance company?
Cheaper Chevy Volt insurance in Virginia Beach can be sourced online in addition to local insurance agencies, so you need to shop Virginia Beach car insurance with both in order to have the best chance of saving money. Some insurance providers may not provide rate quotes online and these smaller companies only sell through independent agents.
When searching for affordable Chevrolet Volt insurance quotes, make sure you don't skimp on coverage in order to save money. Too many times, drivers have reduced comprehensive coverage or liability limits to discover at claim time they didn't have enough coverage. The proper strategy is to find the BEST coverage at the best possible price.
We just presented a lot of tips how to save on Chevy Volt insurance in Virginia Beach. The key concept to understand is the more times you quote, the better your comparison will be. You may even discover the best rates are with a small mutual company.
More detailed insurance information can be read at these sites:
- Vehicle Insurance in the U.S. (Wikipedia)
- What Car Insurance is Cheapest for Immigrants in Virginia? (FAQ)
- Five Mistakes to Avoid (Insurance Information Institute)
- Prepare your Teens for Safe Driving (InsureUonline.org)
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
- Understanding Car Crashes Video (iihs.org)