Who Has the Cheapest Virginia Beach Auto Insurance for Veterans?

The words “low-priced” and “insurance” really shouldn’t be used together, in particular when you are trying to find the cheapest coverage for veterans. Because it’s so expensive, let’s teach you a few of the factors that have an effect on auto insurance rates, and come up with some ideas to lower the price of your next policy.

The vehicle driven is a large consideration when looking for the most economical coverage for veterans. Vehicles with high performance, poor crash test ratings, or a track record of large liability claims will cost more to insure than safer models. The list below shows insurance costs for the most economical vehicles to insure.

Cheapest Vehicles to Insure in Virginia Beach, VA
Vehicle Insured Estimated Cost for Full Coverage
Hyundai Elantra SE Touring Station Wagon $1,182
Ford Edge SE AWD $1,267
Honda CR-V EX-L 4WD $1,281
Ford Escape Limited 2WD $1,286
Chevrolet Malibu Hybrid $1,291
Toyota Camry LE $1,301
Ford Focus SES 4-Dr Sedan $1,336
Toyota Corolla S $1,360
Kia Optima LX $1,386
Volkswagen Jetta SEL 4-Dr Sedan $1,395
Jeep Grand Cherokee SRT-8 4WD $1,386
Nissan Altima 3.5 SR 4-Dr Sedan $1,396
Toyota Prius $1,388
GMC Sierra Denali Crew Cab 2WD $1,476
Chevrolet Impala LT $1,483
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Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Prices do not factor in specific location information which can affect auto insurance rates noticeably.

By looking at the data, you can presume that makes and models like the Hyundai Elantra, Ford Edge, Honda CR-V, Ford Escape, and Chevrolet Malibu are going to be the cheaper vehicles to insure for veterans.

For veterans, one of the largest components that help determine auto insurance rates is the neighborhood you call home. Cities with more crime and/or more people tend to pay more, whereas areas with less congestion benefit from lower rates.

The next table sorts the most expensive places in Virginia for veterans to purchase car insurance in. Virginia Beach ranks #20 with a yearly cost of $910 for car insurance, which is approximately $76 each month.

How much is auto insurance in Virginia Beach, VA?
Rank City Annual Rate
1 Burke $1,068
2 McLean $1,025
3 Alexandria $1,016
4 Lake Ridge $1,012
5 Dale City $1,008
6 Centreville $1,007
7 Richmond $1,005
8 Arlington $973
9 Norfolk $970
10 Portsmouth $963
11 Reston $963
12 Tuckahoe $957
13 Hampton $934
14 Leesburg $931
15 Newport News $930
16 Suffolk $928
17 Charlottesville $922
18 Danville $922
19 Ashburn $920
20 Virginia Beach $910
21 Chesapeake $908
22 Lynchburg $851
23 Roanoke $823
24 Harrisonburg $776
25 Blacksburg $767
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Prices are approximated as the garaging address in Virginia Beach can modify auto insurance rates significantly.

Trying to find affordable car insurance is not the easiest thing to do, and finding out which insurers offer the lowest-priced insurance rates for veterans involves even more rate comparisons.

Each insurance company has their own guidelines for setting prices, so let’s take a look at the insurance companies with the overall cheapest rates in Virginia Beach, VA. Keep in mind that Virginia Beach, VA insurance rates are impacted by many things which can substantially decrease or increase the cost of a policy. This price fluctuation is why it is critical to compare lots of rates to get the most affordable car insurance quotes for veterans. Rates consist of many factors and can change without notice, so the best price three years ago may now be one of the higher cost companies.

Cheap Insurance Rates for Vets

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Rankings for the cheapest car insurance companies in Virginia
Rank Company Cost Per Year
1 Travelers $659
2 USAA $695
3 Penn National $748
4 Cincinnati Insurance $755
5 Auto-Owners $758
6 Utica National $758
7 Erie $788
8 The Hartford $809
9 Virginia Farm Bureau $810
10 Donegal Mutual $886
11 Nationwide $935
12 ALFA $998
13 GEICO $1,006
14 Allied $1,012
15 National Grange Mutual $1,060
16 State Farm $1,099
17 Chubb $1,134
18 Progressive $1,209
19 Electric $1,216
20 Amica $1,279
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Travelers may offer some of the cheapest car insurance rates in Virginia Beach at around $659 a year. USAA, Penn National, Cincinnati Insurance, and Auto-Owners also qualify as some of the cheaper Virginia Beach, VA insurance companies.

As the rates illustrate above, if you are insured with Auto-Owners and switched to USAA, you might achieve a yearly savings of upwards of $63. Drivers with Utica National could save as much as $63 a year, and Erie customers might lower prices by up to $93 a year.

Remember that these estimates are averages for all types of insureds and vehicles and do not take into consideration an exact vehicle garaging location for veterans. So the car insurance company that is best suited for you may not even be in the list above. That is why you need to get quotes using your own personal information and vehicle type.

The diagram below highlights how deductible selection can increase or decrease insurance costs when trying to find cheap insurance for veterans. The premium estimates are based on a single male driver, full physical damage coverage, and no discounts are factored in.

The chart above illustrates that a 50-year-old driver could lower their car insurance rates by $286 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $430 by selecting a $1,000 deductible. Even younger insureds, like the 20-year-old example, could reduce their rates $956 each year by using a higher deductible. If you do make the decision to raise your deductibles, it is essential to have emergency funds available to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Liability only or full coverage

Lowering the price of insurance should be important to most vehicle owners, and one of the quickest ways to buy cheap insurance for veterans is to only pay for liability coverage. The chart below shows the difference between annual premium costs when comparing full coverage to liability only. The data assumes no claims or driving violations, $500 deductibles, single marital status, and no additional discounts are factored in.

Averaged for all age groups, full coverage costs $1,651 per year over liability only. Many of you may wonder if buying full coverage is a waste of money. There is no specific rule for phasing out comp and collision coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost minus the deductible, then you may need to consider dropping full coverage.

For example, let’s assume your vehicle’s claim settlement value is $11,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $10,000 after you pay the deductible. If premium cost is more than $1,000 annually for full coverage, then you might consider buying liability only.

There are some conditions where dropping full coverage is not recommended. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.

Virginia insurance companies ranked

Insuring your vehicle with the highest-rated company can be a challenge considering how many different insurance companies sell coverage in Virginia Beach. The ranking information displayed below may help you select which car insurance companies to look at when comparing rates. These ratings are only made up of insurance companies that insure vehicles in the majority of U.S. states, so companies without a large exposure will not be included in these rankings.

Best Ten Insurance Companies for Veterans in Virginia Beach
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
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Data Source: Insure.com Best Car Insurance Companies