You have seen the ads from insurers like The General and State Farm that say if you switch you’ll get big savings. So you just need to choose the one with the best commercial, right?
It’s just not that simple, as there are a ton of unknowns like the vehicle you are insuring, if full coverage is needed, the area where you live, and the amount of coverage you want, that all factor into the price you pay. The content below covers the things that cause high insurance rates and hopefully give you enough understanding to have a good beginning to your quest for cheaper car insurance.
Trying to find reasonably-priced insurance is tough enough, and determining which company has the lowest-priced insurance rates for infrequent drivers may require additional perseverance. Every car insurance company has a proprietary method for setting prices, so first let’s look at the rankings for the most affordable insurance companies in Virginia.
It’s important that readers know that Virginia Beach, VA insurance rates are calculated based on many things that can increase the policy premium. This price variability is why Virginia drivers need to shop around with many companies when trying to find the lowest insurance quotes for infrequent drivers. Car insurance prices are influenced by many factors and can increase or decrease at any time, so the most economical company the last time you shopped around may now be quite expensive.
Find Cheaper Car Insurance in Virginia
Travelers offers some of the most affordable car insurance rates in Virginia Beach at around $673 a year. USAA, Penn National, Cincinnati Insurance, and Auto-Owners would also be considered some of the lowest-priced Virginia Beach, VA auto insurance companies.
As shown in the rates above, if you buy coverage from Penn National and switched to Travelers, you could see an annual premium reduction of about $67. Customers with Cincinnati Insurance could save as much as $82 a year, and Auto-Owners customers might lower prices by up to $92 a year.
It’s important to note that these policy prices are averages across all types of drivers and the different vehicles they drive and and are not figured with a vehicle location for infrequent drivers. So the insurer that has the lowest price for you may not even be in the top 30 companies in the list above. That point stresses why you need to get rate quotes using your own individual information.
For low mileage drivers, one of the big things that determine insurance cost is where you call home in Virginia Beach. Areas with high crime rates or more dense population will most likely have higher rates, whereas areas that tend to be more rural have the benefit of cheaper auto insurance prices.
The table below lists the highest-priced areas in Virginia for infrequent drivers to purchase auto insurance in. Virginia Beach ranks #14 with an annual rate of $938 for car insurance, which is about $78 each month.
|Rank||City||Average Per Year|
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Rate information is estimated as the specific garaging location can raise or lower rates greatly.
The make and model of vehicle you are insuring is one of the primary factors that determines whether or not you find the most affordable auto insurance for infrequent drivers. Vehicles with high performance features, a lack of advanced safety features, or high incidents of liability claims will cost more to insure than more modest models.
The information below illustrates insurance prices for the most cost-effective automobiles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape Limited 4WD||$1,001|
|Honda Accord LX 4-Dr Sedan||$1,048|
|Honda CR-V LX 4WD||$1,053|
|Chevrolet Impala LT||$1,093|
|Ford Focus SEL 4-Dr Sedan||$1,126|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$1,131|
|Honda Odyssey LX||$1,148|
|Ford Edge Sport 2WD||$1,150|
|Toyota Camry SE||$1,156|
|Ford Fusion SEL 4-Dr Sedan||$1,171|
|Ford Explorer Eddie Bauer 2WD||$1,178|
|Dodge Grand Caravan CV||$1,184|
|Dodge Ram Quad Cab TRX4 Off Road 2WD||$1,190|
|Honda Civic SI 4-Dr Sedan||$1,207|
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Table data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Price information does not factor in vehicle garaging location which can change rates significantly.
Looking at the numbers, cars like the Ford Escape, Honda Accord, Honda CR-V, and Chevrolet Impala are most likely going to be a few of the more affordable vehicles to insure for low mileage drivers.
Types of discounts on Virginia Beach car insurance
Insurers that offer cheap quotes for infrequent drivers may also offer rate discounts that could reduce prices by as much as 35% if you are eligible. Larger insurance companies and some of the premium reductions they offer include:
- GEICO has discounts for emergency military deployment, five-year accident-free, multi-vehicle, daytime running lights, multi-policy, and membership and employees.
- MetLife discounts include accident-free, good student, good driver, claim-free, defensive driver, multi-policy
- State Farm offers discounts for good driver, accident-free, defensive driving training, driver’s education, and multiple policy.
- Progressive may include discounts for continuous coverage, online signing, multi-vehicle, homeowner, good student, online quote discount, and multi-policy.
- Mercury Insurance offers premium reductions for low natural disaster claims, professional/association, good student, ease of repair, multi-policy, accident-free, and good driver.
- 21st Century policyholders can earn discounts including theft prevention, 55 and older, automatic seat belts, defensive driver, teen driver, and good student.
- Allstate offers discounts including auto/life discount, senior citizen, early signing, safe driver, eSmart discount, and farm vehicle.
The diagram below shows the difference between insurance costs with and without discounts applied to the premium. The costs are based on a male driver, no claims, a clean driving record, Virginia state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with multiple policy, claim-free, anti-theft, defensive driving course, passive restraint, and homeowner discounts applied. When discounts are factored in, theamount saved on insurance for infrequent drivers is 27% or $452.
Virginia insurance company ratings
Ending up with the right auto insurance provider can be challenging considering how many companies sell insurance in Virginia Beach. The ranking data in the lists below can help you pick which companies you want to consider when looking for cheaper rates. The ratings below are only made up of large, nationwide insurance companies, so companies without a large exposure are not factored into the list.
Top 10 Major Auto Insurers in Virginia Beach Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- AAA Insurance
- Titan Insurance
Top 10 Major Auto Insurers Overall in Virginia Beach
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Liability-only versus full coverage
Buying cheaper insurance is probably important to most drivers, and an easy way to buy cheaper insurance for infrequent drivers is to not buy full coverage. The chart below shows the comparison of insurance premiums with and without physical damage coverage. The premium estimates are based on no accidents or driving violations, $250 deductibles, drivers are not married, and no policy discounts are applied.
Averaged for all ages 20 through 70, physical damage coverage on your policy costs $1,813 per year over and above liability coverage. That may make you wonder if paying for full coverage is worth it. There is no exact rule to eliminate full coverage, but there is a general guideline. If the annual cost of having full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your vehicle’s replacement value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $7,000 after you pay the deductible. If premium cost is more than $700 annually to have full coverage, then you might want to think about dropping full coverage.
Why are you paying too much for Virginia Beach car insurance?
Virginia insurance rates are calculated based on many things which can significantly increase or decrease the cost of having a policy. Simply turning a year older, having a teen driver, or getting a couple of tickets may generate price changes that can cause some rates to be more affordable than before.
Also, insurers change prices as needed in order to offset underwriting gains or losses. Heavy losses may result in rate hikes, while long-term profits can produce lower-priced Virginia Beach car insurance rates.
To help illustrate this point, the chart below shows the cheapest car insurance in Virginia Beach, VA for a 35-year-old male driver with a good driving record, no prior claims, and good financial standing. If we look at prices based on his current situation, Travelers may offer the most affordable car insurance rates in Virginia Beach at $805 each year. This is $353 less than the average rate paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Erie round out the rest of the cheapest Virginia Beach, VA auto insurance companies.
In the next rate comparison, we’ll give the driver in the first example an accident surcharge, a lower credit rating, and a stop sign violation. Since each company has a unique approach for determining rates, comparing rates could result in a completely different list of cheap Virginia Beach auto insurance companies as shown below.
Utica National now has the best insurance rate in Virginia Beach, VA with The Hartford, Virginia Farm Bureau, Donegal Mutual, and USAA now being in the top five. This example proves why consumers need to take the time to compare lots of rates when trying to get the most budget-friendly insurance rates for infrequent drivers.
Car insurance prices are calculated by many things and can increase or decrease at any time, so the most economical option two years ago may now cost much more than other companies.