Are you tired of trying to find more competitive insurance rates in Virginia Beach, VA? Virginia Beach buyers have options when searching for the lowest priced Mini Cooper insurance. They can either waste time contacting agents to compare prices or leverage the internet to find the lowest rates.
There are both good and bad ways to buy insurance so we’re going to tell you the quickest way to compare rates for your Mini and get the best price possible either online or from Virginia Beach insurance agents.
It’s a known fact that car insurance companies want to prevent you from shopping around. Consumers who compare price quotes are inclined to move their business because there is a significant possibility of finding more affordable rates. A study showed that people who made a habit of comparing rates saved as much as $72 a month compared to other drivers who never shopped around for lower prices.
If finding the cheapest price for auto insurance is your objective, then having a grasp of the best ways to find and compare auto insurance can make it easier to shop your coverage around.
It’s important to get comparison quotes every six months because rates are adjusted regularly by insurance companies. Even if you got the best rate on Mini Cooper insurance in Virginia Beach two years ago you can probably find a lower rate today. Block out anything you think you know about insurance because you’re about to find out the only way to properly buy coverages while reducing your premium.
How Insurance Companies Calculate Mini Cooper Insurance Costs
An important part of buying insurance is that you know the rating factors that play a part in calculating your insurance rates. If you know what determines base rates, this allows you to make educated decisions that could result in big savings.
- High coverage deductibles cost less – Coverage for physical damage, also called ‘full coverage’, covers your vehicle from damage. Some instances where coverage would apply are collision with another vehicle, hail damage, and having your car stolen. The deductibles define the amount you are required to spend out-of-pocket if the claim is covered. The more expense you choose to pay out-of-pocket, the less money you will pay for insurance.
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Teenage vs. experienced drivers – Teenage drivers in Virginia tend to get distracted easily when driving with friends so insurance rates are higher. Older insureds are more responsible, are lower risk to insure, and get fewer tickets.
The following data uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.
- Your car’s features help determine insurance rates – Driving a car that has an advanced theft prevention system can help bring down rates. Theft deterrent systems like vehicle immobilizer systems, OnStar, and tracking devices like LoJack can thwart your vehicle from being stolen.
- Lower rates for married couples – Being married actually saves money when shopping for insurance. It means you’re more mature and responsible it has been statistically shown that drivers who are married are more cautious.
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Mini Cooper claim data – Auto insurance companies study historical loss data when they set coverage costs for each model. Vehicles that statistically have higher loss trends will cost more for specific coverages. The table below illustrates the historical insurance loss data for Mini Cooper vehicles.
For each type of coverage, the claim probability for all vehicles, regardless of make, model or trim level, is equal to 100. Values under 100 indicate better than average losses, while values over 100 point to more frequent losses or an increased chance of larger losses than average.
Mini Cooper Insurance Claim Statistics Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Mini Cooper 92 72 114 74 74 85 Mini Cooper Convertible 80 72 100 57 Mini Cooper Coupe 72 60 Mini Cooper Roadster Convertible 57 50 78 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Car insurance data for a Mini Cooper
The price information shown below showcases a range of rate quotes for Mini Cooper models. Learning how insurance prices are calculated can assist in making smart choices when choosing a car insurance company.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cooper 2-Dr Hatchback | $156 | $306 | $284 | $16 | $86 | $848 | $71 |
| Cooper 2-Dr Convertible | $156 | $306 | $220 | $14 | $66 | $762 | $64 |
| Cooper S 2-Dr Hatchback | $156 | $360 | $284 | $16 | $86 | $902 | $75 |
| Cooper S 2-Dr Convertible | $176 | $360 | $220 | $14 | $66 | $836 | $70 |
| Cooper John Cooper Works 2-Dr Hatchback | $176 | $360 | $284 | $16 | $86 | $922 | $77 |
| Cooper John Cooper Works 2-Dr Convertible | $196 | $414 | $220 | $14 | $66 | $910 | $76 |
| Get Your Own Custom Quote Go | |||||||
Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Price estimates do not factor in your specific Virginia Beach location which can modify coverage prices noticeably.
Physical damage deductibles
One common question asked by Virginia Beach drivers is how low should you set your deductibles. The tables below lay out the differences in premium rates of buying low and high policy deductibles. The first price estimate table uses a $250 deductible for comp and collision and the second price table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cooper 2-Dr Hatchback | $198 | $336 | $218 | $12 | $66 | $855 | $71 |
| Cooper 2-Dr Convertible | $198 | $336 | $170 | $10 | $50 | $789 | $66 |
| Cooper S 2-Dr Hatchback | $198 | $394 | $218 | $12 | $66 | $913 | $76 |
| Cooper S 2-Dr Convertible | $224 | $394 | $170 | $10 | $50 | $873 | $73 |
| Cooper John Cooper Works 2-Dr Hatchback | $224 | $394 | $218 | $12 | $66 | $939 | $78 |
| Cooper John Cooper Works 2-Dr Convertible | $250 | $454 | $170 | $10 | $50 | $959 | $80 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Cooper 2-Dr Hatchback | $162 | $270 | $218 | $12 | $66 | $728 | $61 |
| Cooper 2-Dr Convertible | $162 | $270 | $170 | $10 | $50 | $662 | $55 |
| Cooper S 2-Dr Hatchback | $162 | $318 | $218 | $12 | $66 | $776 | $65 |
| Cooper S 2-Dr Convertible | $182 | $318 | $170 | $10 | $50 | $730 | $61 |
| Cooper John Cooper Works 2-Dr Hatchback | $182 | $318 | $218 | $12 | $66 | $796 | $66 |
| Cooper John Cooper Works 2-Dr Convertible | $204 | $366 | $170 | $10 | $50 | $800 | $67 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Estimates do not factor in specific zip code location which can revise auto insurance rates greatly.
Based on the above data, using a $250 deductible will cost in the ballpark of $11 more each month or $132 each year averaged for all Cooper models than selecting the higher $500 deductible. Since you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to have more than 23 months between claim filings, you would save money if you elect the higher deductible.
How to calculate when to raise deductibles
| Average monthly premium for $250 deductibles: | $74 |
| Average monthly premium for $500 deductibles (subtract): | – $63 |
| Monthly savings from raising deductible: | $11 |
| Difference between deductibles ($500 – $250): | $250 |
| Divide difference by monthly savings: | $250 / $11 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 23 months |
An important thing to remember is that a higher deductible means you pay more out-of-pocket when you do file a claim. That will require enough money put aside in the event you need to pay the deductible for vehicle repair.
The illustration below shows how choosing a deductible and can raise or lower Mini Cooper premium costs for different age groups of insureds. The data assumes a single female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
Car insurance premiums based on gender
The diagram below shows the comparison of Mini Cooper auto insurance rates for male and female drivers. The data is based on a clean driving record, no claims, full physical damage coverage, $500 deductibles, drivers are not married, and no other discounts are factored in.
Comparison of full coverage and liability-only policies
The information below illustrates the difference between Mini Cooper annual premium costs with full coverage and liability only. The rates are based on no violations or accidents, $250 deductibles, single status, and no discounts are taken into consideration.
Are you wasting money paying for full coverage?
There is no definitive rule to delete physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.
For example, let’s pretend your Mini Cooper claim settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $6,000 after you pay the deductible. If you are paying more than $600 annually for your policy with full coverage, then it’s probably a good time to buy liability coverage only.
There are some circumstances where eliminating full coverage is not financially feasible. If you still have a loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should maintain full coverage.
Auto insurance policy discounts you can’t miss
Some insurance providers don’t always advertise every available discount very well, so we researched a few of the more well known and the more hidden discounts that you can inquire about if you buy Virginia Beach auto insurance online.
- Discounts for Responsible Drivers – Drivers without accidents can save as much as half off their rates than their less cautious counterparts.
- Multiple Vehicles – Buying insurance for multiple cars on a single policy can get a discount on all vehicles.
- Early Signing – Select insurance companies give a discount for signing up before your current Cooper insurance policy expires. You can save around 10% with this discount.
- E-sign – A few larger online companies will give you a small discount just for signing your application online.
- Accident-Free Discounts – Drivers who don’t have accidents are rewarded with significantly better rates on Virginia Beach auto insurance quote in comparison to policyholders that have many claims.
- Smart Student Discounts – Maintaining excellent grades may save as much as 25% on a Virginia Beach auto insurance quote. Many companies even apply the discount to college students up until you turn 25.
- Telematics Data – Drivers that enable driving data collection to spy on driving patterns by using a telematic data system such as State Farm’s In-Drive might see lower rates as long as they are good drivers.
- Multi-line Discount – Some insurance companies give a lower premium rate if you buy some life insurance in addition to your auto policy.
Discounts reduce rates, but you should keep in mind that some credits don’t apply to all coverage premiums. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. So even though they make it sound like you would end up receiving a 100% discount, it just doesn’t work that way.
The information below shows the comparison of Mini Cooper yearly insurance costs with and without discounts applied to the rates. The data assumes a male driver, no accidents or driving violations, Virginia state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, claim-free, homeowner, marriage, and multi-policy discounts applied.
A few of the larger companies and some of the discounts are shown below.
- GEICO offers discounts including anti-lock brakes, daytime running lights, seat belt use, multi-policy, and membership and employees.
- USAA has discounts for vehicle storage, family discount, loyalty savings, military installation, and safe driver.
- Progressive includes discounts for multi-vehicle, homeowner, continuous coverage, multi-policy, online quote discount, good student, and online signing.
- American Family has savings for good student, mySafetyValet, multi-vehicle, Steer into Savings, good driver, accident-free, and defensive driver.
- Esurance policyholders can earn discounts including multi-car, online shopper, good student, renters, emergency road assistance, and defensive driver.
- Farmers Insurance discounts include multi-car, early shopping, alternative fuel, bundle discounts, pay in full, and electronic funds transfer.
- State Farm may offer discounts for driver’s education, good driver, Drive Safe & Save, accident-free, and Steer Clear safe driver discount.
When quoting, ask all the companies which discounts you qualify for. Some credits may not apply to policyholders in Virginia Beach. To view auto insurance companies offering auto insurance discounts in Virginia, follow this link.
What is the best auto insurance company in Virginia?
Ending up with the top insurance provider can be rather challenging considering how many companies sell insurance in Virginia. The ranking data in the next section may help you select which coverage providers you want to consider when looking for cheaper rates.
Top 10 Virginia Beach Car Insurance Companies Overall
- Travelers
- USAA
- Mercury Insurance
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
Cover all your bases
When searching for affordable Virginia Beach auto insurance quotes, do not skimp on coverage in order to save money. There have been many cases where someone dropped collision coverage only to discover later that their decision to reduce coverage ended up costing them more. Your goal is to find the BEST coverage at an affordable rate and still be able to protect your assets.
Insureds change insurance companies for any number of reasons including poor customer service, an unsatisfactory settlement offer, policy cancellation or even delays in responding to claim requests. It doesn’t matter what your reason, choosing a new company is not as difficult as it may seem.
We covered a lot of ways to shop for Mini Cooper insurance online. It’s most important to understand that the more times you quote, the higher the chance of saving money. You may even be surprised to find that the most savings is with a small local company.
How to find low-cost rates for Mini Cooper insurance in Virginia Beach
If you want to find the absolute lowest rates, then the best way to find discount Mini Cooper insurance in Virginia Beach is to regularly compare quotes from providers that sell auto insurance in Virginia.
- Step 1: Try to comprehend the coverage provided by your policy and the changes you can make to keep rates in check. Many policy risk factors that drive up the price like traffic violations and an unacceptable credit history can be rectified by making minor changes in your lifestyle.
- Step 2: Quote rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can give quotes from a single company like Progressive and State Farm, while independent agents can provide prices from multiple companies.
- Step 3: Compare the new quotes to your current policy to see if a cheaper rate is available in Virginia Beach. If you find a better price and make a switch, ensure there is no coverage lapse between policies.
- Step 4: Provide proper notification to your current company of your intent to cancel your current auto insurance policy. Submit the required down payment along with the signed application to the new company. As soon as you can, put the new proof of insurance paperwork above your visor, in the console, or in the glove compartment.
An important bit of advice to remember is that you’ll want to compare the same level of coverage on every price quote and and to get rates from every insurance company. Doing this provides an apples-to-apples comparison and many rates to choose from.
Additional information can be read at the links below
- Drunk Driving Statistics (Insurance Information Institute)
- Who Has the Cheapest Virginia Beach Auto Insurance for Drivers Over Age 70? (FAQ)
- What Does No-Fault Insurance Cover? (Allstate)
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- Alcohol Impaired Driving FAQ (iihs.org)
- Car Insurance FAQ (Trusted Choice)