Virginia Car Insurance Calculator – What Rating Factors Affect Your Rates?

Virginia car insurance rates are below average among states, making it easier for drivers to secure affordable coverage. Still, as with most states, it is wise to shop around to find the best possible rate; many discounts exist such as those for safe drivers, good students, military families, seniors and others. Bundling auto and home/boat policies together may result in additional savings; additionally, knowing more about how insurance companies assess drivers is likely to lead to negotiations of lower premiums.

Age can have a significant effect on car insurance rates, with younger drivers often paying more. This is likely due to less driving experience and increased accident risks among teens; thus causing insurance companies to consider them higher risks than older drivers. As these young drivers gain experience behind the wheel and build up their driving records, their premiums typically decrease over time.

Driving records are another key determinant in rating policies for insurers, with poor driving history often translating to higher premiums than clean records. A DUI conviction or multiple speeding tickets can significantly raise rates; at-fault accidents and violations may make obtaining cheap insurance difficult – however don’t despair just yet if your driving history includes at-fault incidents; there are still insurers offering affordable car insurance in Virginia; all you have to do is shop around for quotes!

Virginia drivers must possess at least the minimum car insurance coverage to remain legally on the roads, which includes $25,000 per person up to $50,000 per accident in bodily injury liability coverage and $20,000 in property damage liability coverage. Full coverage car insurance provides greater financial protection in case of accidents and non-collision incidents such as theft or severe weather events.

Your credit score is one of the key elements in setting your car insurance premium in Virginia and across the country, as drivers with poor credit are more likely to file claims than drivers with good credit and therefore cost more to insure. In Virginia alone, drivers with poor credit typically pay an average annual increase of $997 when compared with drivers who enjoy excellent credit scores.

As important rating factors for car insurance in Virginia as your credit score are age and gender of drivers – particularly young female drivers and men with less accidents, younger and female drivers tend to incur lower insurance rates than other groups of drivers due to reduced accident risk. But this doesn’t mean they cannot find competitively priced policies as there are several insurance providers offering competitively priced policies aimed at this demographic group.