The Cheapest Auto Insurance Companies in Virginia in 2024

Virginia drivers enjoy car insurance premiums below the national average — the average Virginian pays around $96 per month for a basic liability policy.

Auto-Owners offers the cheapest rates, with average premiums of just $40 for liability-only insurance.

Of course, your personal rates will depend on a variety of factors, including your demographics and coverage limits. And since Virginia’s insurance laws have recently changed — and are slated to do so again in 2025 — it’s important to understand exactly how much coverage you need.

The guide below will cover everything you need to know about car insurance in the Commonwealth — from the cheapest companies and statewide requirements to how to get the best possible rates Virginia has to offer.

Key Takeaways:

• Virginia drivers pay an average of $96 per month for liability insurance and $169 for full coverage.
• Auto-Owners has the cheapest insurance premiums in Virginia, with an average monthly rate of $52.
• The state of Virginia requires $15,000 per person and $30,000 per accident of bodily injury insurance and $25,000 in property damage liability insurance, but these limits will increase in 2025.

In This Article:

• Average Price for Car Insurance in VA
• Cheapest VA Car Insurance Companies
• Best Virginia Insurers of 2024
• Average Virginia Rates by Age and Driving Record
• Virginia Auto Insurance Requirements
• How to Get Cheap Car Insurance in VA
• Frequently Asked Questions

How Much Is Car Insurance in Virginia?

The average car insurance premium in Virginia is $133 per month, according to Compare.com data. But how much you pay for insurance depends on the type of coverage you have, among other factors.

The table below breaks down the average premiums for both liability-only and full-coverage insurance in Virginia, as well as how they compare to the national average.

Virginia drivers pay an average of $96 per month for liability insurance and $169 per month for full coverage, according to our research.

In the next few sections, we’ll dive a bit deeper into these coverage options and how to decide which is right for you.

Virginia’s Cheapest Car Insurance Companies

You have plenty of affordable options when shopping for car insurance in Virginia. And even though the statewide average premium is $133 per month, it’s easy to find even lower rates.

Let’s take a look at which companies offer the cheapest car insurance in Virginia.

Auto-Owners has an average monthly insurance premium of just $52 — the lowest of any insurer in Virginia and considerably lower than the state average. That being said, a variety of factors affect your insurance premiums, including your age, driving history, and more. That means the cheapest average company won’t necessarily be the cheapest for you. It’s important to shop around and compare quotes to find the best savings.

Compare.com’s Best Virginia Insurance Companies of 2024

While there’s no single best car insurance company for every driver in Virginia, some may be ideal for most drivers or certain types of customers. We’re sharing our top choices for Virginia drivers based on a combination of average rates in Virginia, available discounts, customer ratings and reviews, and available coverages.

Here are three of the best car insurance companies in Virginia in 2024:

Best for cheap rates: Auto-Owners

• Average premium: $52 per month
• Compare.com Rating: 4.43 out of 5

Pros:

• Low rates for high-risk drivers
• Excellent coverage options
• Large network of local independent agents

Cons:

• Potentially poor digital experience
• Online quoting not available
• No discounts for safe drivers

Auto-Owners has cheaper rates than many insurers in Virginia, including having some of the best rates for high-risk drivers. The company also offers an excellent line-up of coverage choices, including less-common options like additional expense, diminished value, accident forgiveness, and a common-loss deductible.

And thanks to Auto-Owners’ large network of independent insurance agents, you’ll have a more personalized customer experience than what you’d find with many insurers.

Best for customer satisfaction: State Farm

• Average premium: $53 per month
• Compare.com Rating: 4.90 out of 5

Pros:

• Highly rated customer satisfaction
• Low rates for high-risk drivers
• Discounts for safe drivers

Cons:

• Gap insurance not available
• Limited discount options available
• Above-average number of customer complaints

State Farm is the most popular auto insurance company nationwide, and it offers plenty of benefits for Virginia drivers. First, State Farm consistently ranks near the top of all companies for customer satisfaction, both for claims and overall, according to recent J.D. Power studies. State Farm also offers lower rates than many other insurers, including for drivers with violations on their records.

And if you’re a safe driver, you can save up to 30% on your premiums with State Farm’s usage-based discount program, Drive Safe & Save.

Best for discounts: GEICO

• Average premium: $72 per month
• Compare.com Rating: 4.65 out of 5

Pros:

• More available discounts than most insurers
• Offers accident forgiveness
• Below-average number of customer complaints

Cons:

• Poor customer satisfaction ratings
• Gap insurance not available
• No independent agents

In addition to being among the cheapest insurers for Virginia drivers, GEICO offers more discounts than most of its competitors. Some of its most noteworthy savings opportunities include discounts for being a good driver, driving a safe vehicle, completing a defensive driver course, and being a federal employee or military service member.

GEICO also offers accident forgiveness coverage — if you opt in, your premium won’t increase after your first at-fault accident.

Cheapest State-Minimum Insurance in Virginia: Auto-Owners

The type and amount of coverage you purchase have a significant effect on your premiums. Liability insurance at Virginia’s minimum limits is the cheapest type of car insurance policy you can purchase. Virginia’s state-minimum car insurance includes bodily injury liability, property damage liability, and uninsured/underinsured motorist coverage.

We’ve broken down the cheapest insurance companies for the state’s minimum coverage in the table below.

Auto-Owners has the cheapest state-minimum car insurance in Virginia, according to our research, with an average premium of just $40 per month. That said, it may not be the best type of policy for everyone. Though liability insurance pays for injuries and damages you cause, it won’t compensate you for your own vehicle after an accident.

If expensive car repairs would put a serious dent in your finances, it’s worth considering getting more robust coverage. And if you have a loan or a lease, the bank or leasing company will require you to have full coverage — which we’ll cover in more detail in the next section.

Cheapest Full-Coverage Insurance in Virginia: Auto-Owners

An alternative to liability-only insurance is full coverage. Though there’s no set definition for full-coverage insurance, it typically includes both collision and comprehensive coverage alongside basic liability, and it may also include other coverage types, like rental coverage, gap insurance, and more.

Full coverage is a great option for most people, especially drivers who can’t afford to repair or replace their vehicle out of pocket. But because it offers more coverage, it’s also more expensive, as you can see in the table below.

Our research found that Auto-Owners has the cheapest rates in Virginia for full-coverage insurance, with an average monthly premium of $64. Still, given all the different factors insurance companies consider when setting insurance rates, the cheapest company could be different for you.

In the next few sections, we’ll talk about some of the other factors that could affect your car insurance premiums and compare average rates for drivers like you.

Compare Virginia Auto Insurance Rates by Age

Generally speaking, insurance premiums decrease as you age. Teens and other young drivers pay the highest insurance premiums, while older drivers pay far less, all else being equal.

The table below shows the average insurance premium in Virginia for drivers in each age bracket, as well as the cheapest company for each category.

Cheapest for Virginia teens: Auto-Owners

Teenagers are the most expensive age group to insure due to their lack of driving experience. They’re also more likely to exhibit risky driving habits and to be in a fatal car accident, according to data from the Centers for Disease Control and Prevention (CDC).

Auto-Owners has the cheapest car insurance for teen drivers in Virginia, with an average premium of $87 per month. That’s much cheaper than the overall average premium for Virginia teens — $246 per month.

Cheapest for Virginia seniors: State Farm

As we mentioned above, insurance premiums tend to decrease as you age, meaning seniors typically pay the lowest rates of any age group. After all, older drivers have far more experience and are more likely to drive responsibly, according to the Insurance Institute for Highway Safety (IIHS). That said, premiums may rise again slightly once you reach your 70s and your health starts to decline.

Our research found that State Farm has the cheapest insurance premiums for senior drivers in Virginia, with average monthly premiums of $38 for drivers in their 60s and $36 for drivers in their 70s. Compare that with the overall state average for those age ranges — $91 and $95 per month, respectively — and State Farm is a great place to start if you’re a senior looking for more affordable coverage.

Compare Virginia Auto Insurance Rates by Driving Record

It probably comes as no surprise that your driving record has a significant effect on your car insurance rates. If you have a clean driving record, you’ll enjoy the lowest possible rates. Meanwhile, having violations on your record can increase your premiums — sometimes substantially.

The table below shows the average monthly premium for Virginia drivers with different violations on their records, as well as the cheapest insurer for each type of violation, according to Compare.com data.

Cheapest insurer in Virginia after a ticket: State Farm

A speeding ticket is one of the most common driving violations, but it still causes average insurance premiums to increase by 27% nationally, according to Compare.com data.

State Farm has the cheapest insurance premiums for Virginia drivers with one speeding ticket, with an average monthly premium of $67. That’s considerably lower than the overall average across Virginia, $187 per month.

Cheapest insurer in Virginia after an accident: State Farm

Any type of auto accident can increase your insurance rates, but they’re most likely to go up after one you cause. The average monthly premium for drivers in Virginia with an at-fault accident on their record is $192 per month, according to Compare.com. State Farm has the cheapest rates for these drivers, with an average monthly premium of just $70.

Cheapest insurer in Virginia after a DUI: Auto-Owners

A DUI — short for driving under the influence — is one of the most serious driving offenses you can get and results in the greatest increase in your insurance rates. You can expect your premiums to increase by about 50% after a DUI, according to Compare.com data.

Auto-Owners has an average monthly premium of $83 per month for Virginia drivers with a DUI. Meanwhile, the overall state average for drivers in this category is much more — $218 per month.

Virginia Auto Insurance Requirements

Virginia drivers must have auto insurance coverage to legally drive in the Commonwealth. State law requires you to have a minimum of at least:

• $30,000 of bodily injury liability coverage per person
• $60,000 of bodily injury liability coverage per accident
• $20,000 of property damage liability coverage per accident

You must also purchase the same amounts of uninsured/underinsured motorist coverage.

But keep in mind that these limits are scheduled to increase to $50,000 per person and $100,000 per accident in bodily injury liability, and $25,000 in property damage coverage on Jan. 1, 2025.

Previously, Virginia allowed drivers to opt out of insurance coverage by paying a $500 uninsured motorist fee, which would go into the state’s Uninsured Motorist Fund to help pay for damages in uninsured motorist claims. But a recent law change eliminated this option as of July 1, 2024.

Penalties for driving without auto insurance in Virginia

State law requires you to always carry proof of insurance or payment, and driving without auto insurance in Virginia can have serious penalties.

If you drive without insurance in Virginia, you can expect the state to suspend your driver’s license and vehicle registration until you:

• Pay a $600 non-compliance fee
• File an SR-22
• Pay a license or vehicle registration reinstatement fee

SR-22 and FR-44 auto insurance in Virginia

An SR-22 and an FR-44 aren’t a type of insurance but rather certifications of financial responsibility the DMV may require some Virginia high-risk drivers to have on file. Here are a few reasons you might have to provide an SR-22 or FR-44 in Virginia for at least three years.

Shopping around for the best price can help you get affordable FR-44 or SR-22 insurance. Practicing safe driving habits to avoid tickets and accidents can also help you get cheaper SR-22 insurance and guarantee that the requirement falls off your record after three years.

How to Get Cheaper Car Insurance in Virginia

Getting affordable car insurance isn’t always easy, especially if you don’t have a perfect driving record. We’re here to help you save on auto insurance with these expert tips:

• Review your insurance policy regularly. “Things can change in six months or a year, so be sure to review your policy at each renewal to see if you need to make any coverage adjustments,” says Donna Lewis, insurance agent at Scalley Insurance Agency.
• Ask about discounts. Insurance companies typically have multiple discounts available you can combine to maximize savings. Examples include auto pay, bundling policies, and going paperless.
• Buy a cheaper car. The type of car you drive also affects your auto insurance rates. Buying a cheaper car can help you save on your insurance premium, too.
• Improve your driving habits. Being a safe driver is one of the best ways to save. Taking part in a telematics program could save you even more.
• Shop regularly and compare quotes. “Comparing car insurance quotes can help you ensure you’re getting the lowest rate for the coverage you need,” says Lewis.

Virginia Auto Insurance FAQs

If you’re preparing to buy auto insurance in Virginia, check out these answers to some of the most commonly asked questions in the Commonwealth.

What’s the cheapest auto insurance company in Virginia?

The cheapest auto insurance company in Virginia is currently Auto-Owners, according to Compare.com data. It offers auto insurance policies for an average of just $52 per month. That said, a different company may be cheaper for you based on your unique circumstances.

How much is car insurance in Virginia per month?

The average cost of car insurance in Virginia is $133 per month, according to Compare.com data. The average liability-only premium is $96 per month, while the average full-coverage policy costs $169.

Why is car insurance in Virginia so expensive?

Car insurance in Virginia isn’t particularly expensive. In fact, Virginia’s average premiums put it lower than the national average, according to our research.

What’s the best way to get cheaper car insurance in Virginia?

The best way to get cheaper car insurance premiums in Virginia is to shop around. Get personalized quotes from multiple companies and compare them to find the most affordable option. You can also save by taking advantage of discounts, improving your driving habits, and adjusting your policy.

Data Methodology:

Data scientists at Compare.com analyzed more than 50 million real-time auto insurance quotes from more than 75 partner insurers in order to compile the rates and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information.

All the rates listed in this article have been collected from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide readers with insights into how auto insurance companies determine their premiums.

Sources:

1. Virginia Department of Motor Vehicles, “Insurance Requirements,” accessed July 16, 2024.
2. Insurance Information Institute, “What determines the price of an auto insurance policy?” accessed July 16, 2024.
3. Centers for Disease Control and Prevention, “Risk Factors for Teen Drivers,” accessed July 16, 2024.
4. Insurance Institute for Highway Safety, “Older drivers,” accessed July 16, 2024.
5. J.D. Power, “2024 U.S. Insurance Digital Experience Study,” accessed July 16, 2024.
6. J.D. Power, “2023 U.D. Auto Claims Satisfaction Study,” accessed July 16, 2024.
7. J.D. Power, “2023 U.S. Auto Insurance Study,” accessed July 16, 2024.
8. National Association of Insurance Commissioners, “State Farm National Complaint Index Report,” accessed July 16, 2024.
9. National Association of Insurance Commissioners, “GEICO National Complaint Index Report,” accessed July 16, 2024.