I'm sure you've seen the captivating ads from car insurance companies like Farmers and Liberty Mutual that promise the cheapest rates, so you should just select the one with the best jingle, right?
It's not that easy, however, as there are a whole slew of unknown factors like if you are married, what your desired deductibles are, whether you just need liability insurance, and the neighborhood you live in. The information below will cover the types of situations that result in high rates and should give you a good start in finding the cheapest insurance in Virginia.
For drivers age 25 and younger, one of the largest factors that aid in calculating insurance cost is your address in Virginia Beach. More densely populated places are more likely to have higher rates, whereas areas with less congestion get the luxury of paying less.
The table below lists the most expensive places in Virginia for drivers under 25 in which to purchase auto insurance. Virginia Beach comes in at #13 with a yearly premium of $948 for coverage, which is around $79 monthly.
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Rate quotes are comparative as the specific garaging location can influence prices significantly.
The vehicle model you are buying coverage for is a large factor that determines the availability of economical insurance for drivers under 25. Vehicles with higher performance characteristics, a lack of advanced safety features, or a history of substantial liability claims will cost significantly more to insure than safer, lower-performance models. The next table presents car insurance prices for the most affordable vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$1,081|
|Honda CR-V EX-L 2WD||$1,105|
|Ford Escape XLT 4WD||$1,255|
|Nissan Altima 2.5 4-Dr Sedan||$1,278|
|Toyota RAV4 Limited 4WD||$1,288|
|Ford Explorer Limited 4WD||$1,304|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$1,318|
|Toyota Corolla S||$1,349|
|Ford Fusion SEL 4-Dr Sedan||$1,374|
|Honda Odyssey Touring||$1,383|
|Chevrolet Silverado LS Crew Cab 4WD||$1,374|
|Ford Edge Limited 2WD||$1,377|
|Chevrolet Impala LS||$1,385|
|Toyota Tacoma 4WD||$1,379|
|Dodge Grand Caravan SE||$1,386|
|Volkswagen Jetta 2.0T Station Wagon||$1,393|
|Ford F-350 XL Crew Cab 2WD||$1,398|
|Ford F-150 XLT Super Cab 4WD||$1,410|
|Ford Focus S 4-Dr Sedan||$1,414|
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Table data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Table data does not factor in vehicle garaging location which can revise insurance rates substantially.
Looking at the numbers, cars like the Honda Accord, Honda CR-V, and Ford Escape are a few of the less-costly vehicles to insure for drivers age 25 and younger.
Determining which company offers the cheapest car insurance rates for drivers under 25 involves a tad more effort in order to find the most economical policy.
Every auto insurer uses their own method to determine premium rates, so we need to take a look at the most competitive car insurance companies in Virginia Beach, VA. Keep in mind that Virginia Beach, VA car insurance rates are calculated based on many things that will increase or decrease the cost of your policy. Simply having another birthday, getting divorced, or getting a few speeding tickets may cause policy rate changes that can now make some companies more affordable than before.
Cheapest Insurance Rates for Young Drivers
Travelers normally has some of the best car insurance rates in Virginia Beach at around $653 a year. This is $505 less than the average price paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Auto-Owners would also be considered some of the more affordable Virginia Beach, VA car insurance companies.
In the above example, if you have coverage with Penn National and switched to Travelers, you might see an annual premium reduction of around $65. Virginia drivers with Cincinnati Insurance may save as much as $88 a year, and Auto-Owners customers might see rate reductions of $112 a year.
If you would like to find cheaper car insurance rates, click here to begin a quote or feel free to get quotes from the companies below.
Remember that these estimates are averaged across all drivers and vehicles in Virginia and do not factor in a specific location for drivers under 25. So the company that has the cheapest rates for you may not even be in the top 30 companies shown above. That's why you need to get rate quotes from many companies using your own driver information and specific vehicle type.
The chart below highlights how deductible choice can raise or lower insurance premiums when researching cheap insurance for drivers under 25. Data assumes a married male driver, full coverage, and no additional discounts are factored in.
A 50-year-old driver could lower their car insurance rates by $180 a year by switching from a $100 deductible to a $500 deductible, or save $272 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old example, could potentially save up to $598 annually by using a higher deductible.
If you do raise deductibles, it's a good idea to have enough savings to allow you to cover the extra out-of-pocket expense associated with higher deductibles.
Types of discounts on Virginia Beach insurance
Insurance companies that provide coverage for drivers under 25 may also offer rate discounts that could lower prices by 30% or more if you qualify for them. The best car insurance companies and some of their more popular discounts can be found below.
- Progressive offers premium reductions for online signing, online quote discount, multi-policy, homeowner, and good student.
- AAA offers discounts including good driver, anti-theft, multi-car, multi-policy, AAA membership discount, pay-in-full, and education and occupation.
- Farmers Insurance may have discounts that include alternative fuel, pay in full, good student, homeowner, distant student, and electronic funds transfer.
- GEICO discounts include anti-theft, daytime running lights, driver training, anti-lock brakes, multi-vehicle, good student, and military active duty.
- Esurance has discounts for multi-policy, good student, anti-lock brakes, safety device, paid-in-full, emergency road assistance, and good driver.
- SAFECO policyholders can earn discounts including accident prevention training, homeowner, teen safety rewards, multi-car, and teen safe driver.
- State Farm has savings for student away at school, multiple autos, good driver, Steer Clear safe driver discount, accident-free, and anti-theft.
The illustration below shows the difference between insurance rates with and without discounts being applied to the rates. The costs are based on a male driver, no driving violations, no at-fault accidents, Virginia state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with marriage, safe-driver, vehicle safety, accident-free, defensive driving course, and multiple vehicle discounts applied. When discounts are applied, the average amount saved each year on car insurance for drivers under 25 is 28% or $300.
Choosing the best insurance company can be challenging considering how many companies provide coverage in Virginia. The company ratings in the lists below could help you decide which insurers to look at comparing price quotes from.
These rankings only include major nationwide insurance companies, so smaller regional companies are not taken into consideration for these rankings. To compare rates from these companies and more, simply click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
If you aren't clear which coverage you need and would like to have some professional guidance when buying car insurance for drivers age 25 and younger, the professional agents shown below are willing to help you determine which auto insurance policy fits you best.
To find an auto insurance agency by location nearest to you, click the button after the list or click here to compare prices now.
Bell Insurance Agency Corporation
1501 Cornwell Ln - Virginia Beach, VA 23454 - (757) 340-0028
Charlie Hendrick - State Farm Insurance Agent
5350 Kemps River Dr #101 - Virginia Beach, VA 23464 - (757) 523-4115
GEICO Insurance Agent
4389 Virginia Beach Blvd - Virginia Beach, VA 23462 - (757) 583-2200
Hampton Roads Insurance
633-D Independence Blvd - Virginia Beach, VA 23462 - (757) 285-4754