Virginia Car Insurance Calculator

Car insurance is an absolute must in Virginia, so it is crucial that drivers understand what factors contribute to its cost. MoneyGeek conducted extensive research in order to establish what factors play a part in Virginia’s average car insurance cost so drivers can determine how much coverage they need at a price they can afford. This article utilizes this research data so you can make an informed decision regarding your policy needs and costs.

One of the primary factors affecting car insurance costs is your driving record. Insurers see speeding tickets, at-fault accidents or DUI convictions on your record as high-risk drivers who should pay higher premiums; typically around double what would normally be charged. The average Virginia car insurance cost for those with marks on their driving history vs. drivers with clear histories

Your credit score plays a large part in your auto insurance rate. Insurers use information gleaned from your credit report to calculate a credit-based insurance score and predict your likelihood of filing claims; having poor credit can increase rates up to twofold more compared to drivers with good scores.

Addition of teenage drivers can increase car insurance costs in Virginia significantly. Because these younger drivers lack experience behind the wheel and are more prone to accidents, their premiums must reflect this greater risk to insurers. It often works out cheaper to have them on an existing policy with their parents or guardians rather than purchasing individual policies for each one separately.

Car insurance companies use several sources of data when calculating your rate, such as make and model of your car as well as age and gender information about yourself and any drivers on your policy. With more data at their fingertips, companies can better predict whether you will file a claim and assess risk levels more accurately.

Virginia car insurance premiums can be reduced in various ways, including bundling policies together, reducing liability limits and choosing a lower deductible. You should shop around to compare quotes to find the best price; just be sure to select an insurer with a strong reputation that provides appropriate coverage options that meet your individual needs.

Virginia minimum coverage requirements include $100,000 of bodily injury liability per person and $50,000 in property damage liability per accident. Many drivers will benefit from more comprehensive policies like collision and comprehensive, which provide additional protection if you hit an uninsured or under-insured driver. Alternatively, opting out by paying the Department of Motor Vehicles $500 fee does provide some level of protection should an accident occur.