One of the more important things that help determine the cost of insurance is the neighborhood you call home. Cities with more crime and/or more people tend to pay more, whereas areas that tend to be more rural have the gratification of cheaper auto insurance rates.
The illustration below sorts the highest-priced places in Virginia for real estate agents in which to buy car insurance. Virginia Beach comes in at #16 with the annual price of $938 on average, which is around $78 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Burke | $1,037 |
| 2 | Lake Ridge | $1,032 |
| 3 | Dale City | $1,028 |
| 4 | Alexandria | $1,016 |
| 5 | McLean | $1,015 |
| 6 | Arlington | $1,013 |
| 7 | Centreville | $1,007 |
| 8 | Richmond | $1,005 |
| 9 | Portsmouth | $972 |
| 10 | Hampton | $972 |
| 11 | Norfolk | $970 |
| 12 | Tuckahoe | $957 |
| 13 | Reston | $954 |
| 14 | Newport News | $948 |
| 15 | Danville | $940 |
| 16 | Virginia Beach | $938 |
| 17 | Chesapeake | $935 |
| 18 | Leesburg | $931 |
| 19 | Suffolk | $928 |
| 20 | Ashburn | $902 |
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Price information shown is comparative as the specific geographic location can increase or decrease premiums greatly.
Establishing which companies quote the cheapest insurance rates for real estate agents calls for more time than just comparing a company or two.
Every auto insurer has a proprietary method to set premium rates, so we’ll take a look at the most affordable insurance companies in Virginia Beach, VA. It’s important that you understand Virginia insurance rates are determined by lots of factors that will increase or decrease the policy premium. Simply having a birthday, buying a home instead of renting, or getting a few speeding tickets can trigger changes in premium that can now make some companies more affordable than the competition.
Cheapest Insurance Rates for Realtors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $679 |
| 2 | USAA | $709 |
| 3 | Cincinnati Insurance | $733 |
| 4 | Penn National | $740 |
| 5 | Auto-Owners | $758 |
| 6 | Utica National | $765 |
| 7 | The Hartford | $785 |
| 8 | Erie | $788 |
| 9 | Virginia Farm Bureau | $826 |
| 10 | Donegal Mutual | $852 |
| 11 | Nationwide | $925 |
| 12 | ALFA | $988 |
| 13 | Allied | $992 |
| 14 | GEICO | $1,026 |
| 15 | State Farm | $1,099 |
| 16 | Chubb | $1,101 |
| 17 | National Grange Mutual | $1,104 |
| 18 | Progressive | $1,209 |
| 19 | Electric | $1,228 |
| 20 | California Casualty | $1,251 |
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Travelers normally has some of the cheapest car insurance rates in Virginia Beach at around $679 annually. USAA, Cincinnati Insurance, Penn National, and Auto-Owners are also some of the cheapest Virginia Beach, VA auto insurance companies.
As illustrated above, if you currently have coverage with Cincinnati Insurance and switched to Travelers, you might realize an annual premium reduction of around $54. Customers with Penn National could save as much as $61 a year, and Auto-Owners policyholders might see rate reductions of $79 a year.
It’s important to note that these policy prices are averages for all drivers and vehicles and do not factor in a specific zip code for real estate agents. So the insurer that has the cheapest rates for you may not even be in the top 30 companies shown above. That helps illustrate why you need to compare rates from multiple companies using your own specific driver information and vehicle.
Discounts on Virginia Beach auto insurance
Insurers that provide coverage for real estate agents may have policy discounts that can lower rates by 35% or more if you meet specific criteria. A few popular companies and the discounts they provide include:
- The Hartford offers discounts for vehicle fuel type, anti-theft, defensive driver, driver training, and bundle.
- American Family may have discounts that include good driver, multi-vehicle, early bird, TimeAway discount, air bags, and defensive driver.
- Progressive offers premium reductions for good student, online quote discount, homeowner, multi-policy, online signing, and multi-vehicle.
- Travelers may offer discounts for driver training, save driver, student away at school, hybrid/electric vehicle, new car, and early quote.
- Farmers Insurance includes discounts for electronic funds transfer, distant student, business and professional, homeowner, pay in full, and youthful driver.
- USAA has discounts for multi-vehicle, vehicle storage, multi-policy, family discount, loyalty savings, and new vehicle.
- Liberty Mutual discounts include multi-car, new graduate, safety features, newly married, hybrid vehicle, and new move discount.
The example below illustrates the difference between insurance rates with and without some available policy discounts. The premium estimates are based on a female driver, no violations or claims, Virginia state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with safe-driver, anti-theft, accident-free, multiple vehicle, defensive driving course, and claim-free discounts applied. When these discounts are applied, theaverage amount saved on insurance for real estate agents is 28% or $429.
The diagram below shows how choosing a deductible can impact insurance prices when getting quotes for cheap insurance for real estate agents. The costs are based on a married female driver, comprehensive and collision coverage, and no other discounts are factored in.
A 40-year-old driver could lower their policy premium by $176 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $266 by using a $1,000 deductible. Even younger drivers, like the age 20 example, could lower their rates as much as $436 or even more by choosing a larger deductible amount.
When choosing a higher deductible, it is essential to have enough savings set aside to allow you to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
How accidents and violations affect rates
One of the best ways to snag the cheapest insurance prices in Virginia for realtors is to drive safe and avoid tickets and accidents. The chart below demonstrates how traffic citations and accidents can impact insurance prices for different ages of insureds. The rates are based on a single female driver, full coverage, $1,000 deductibles, and no discounts are taken into consideration.
The data in the chart shows the average cost of an auto insurance policy per year with no accidents and a clean driving record is $1,039. Add in two speeding tickets and the average cost swells to $1,380, an increase of $340 each year. Then include two accidents along with the two speeding tickets and the yearly cost of insurance for real estate agents increases to an average of $2,808. That’s an increase of $1,769, or $147 per month, just for not being a responsible driver!
How to find cheaper car insurance for real estate agents
The list below summarizes some money-saving ideas that can help drivers locate cheaper auto insurance.
- At-fault accidents will increase rates
- Good credit can save money
- Earn discounts for being claim-free
- Drive vehicles with five-star safety ratings
- Serious violations like DUI or careless driving can make car insurance unaffordable
- Look for cheaper rates once a year by shopping around
The final tip is certainly critical, as was affirmed in this article. Insurance prices can be modified anytime, so don’t hesitate to change to a new company if a more affordable rate is found.
Many drivers tend to have loyalty to a certain company, but it’s not a great idea if that dedication is costing hundreds every year. It only takes a couple minutes to compare rates and find cheaper auto insurance for real estate agents in Virginia Beach.