Several companies in Virginia offer car insurance services. These companies include GEICO General, VA Farm Bureau Mutual, Progressive Advanced Insurance, and Nationwide Mutual Insurance. The three lowest insurers in the state are USAA subsidiaries. They include USAA, USAA Casualty, and USAA General Indemnity. These insurers offer rates of $1,150, $1,161, and $1,600 respectively. The next two companies on the list are Garrison Property & Casualty Insurance Company and Travelers Home and Marine. The reason why USAA and Traveler’s Home & Marine Company offer low rates is that they are specialty auto-insurers and cater for members and direct relatives of members of the military forces.
It would be prudent if we replaced them with the next couple of companies in the list since these insurers are not available for everyone. The cheapest general insurance firms in the state of Virginia are Garrison Property, State Farm Mutual Insurance Company, and Mid-Century Insurance Company. You should expect to pay between a thousand and two thousand dollars annually if you are looking for an affordable insurer. The premiums from the most affordable companies are more than 30% cheaper than the average in the state, so you are sure that you are getting a bargain.
Several insurance companies have certain subsidiaries in the country. Each of them caters to customers with different budgets. A good example is GEICO which has GEICO Indemnity, GEICO General, and GEICO Casualty. It is important to confirm the specific subsidiary that you want before choosing. The average annual premium for car insurance in the state is around $2,700. This is a huge figure. Some companies charge up to $5,000 annually. You have to be extra careful when choosing an insurance package because the highest auto insurance is more than five times that of the cheapest. This shows how important it is to browse for alternative packages before you decide to go with a specific one.
The cost of car insurance also varies according to where you live. The city you live in is a major determinant here. Alexandria has the highest rates. They go for close to three thousand dollars whereas Roanoke has the cheapest with $2300 a year. There are different variations depending on your age group as well. It is important to note that married couples living in Alexandria who have more than 45 years pay less than their counterparts in cheaper cities such as Roanoke and Richmond. The lowest premium offered by a non-military insurer in Alexandria is $1,634 which is offered by GEICO.
Travelers Home and Marine offers the best car rates for residents of Richmond with a price of $1,465. There are also price variations depending on the age-group of residents in Richmond. The rates for twenty-year-old single men and women are four thousand dollars and three thousand dollars respectively. Middle-aged residents pay nearly half of what younger people pay since they get rates as low as $1500. The low price of insurance in Roanoke is attributed to its low population which is less than half of the population of other cities in the state. Virginia Beach has the second cheapest rates of all the other cities even though it has the largest number of residents who amount to close to half a million. The blended premium for insurance rates in Virginia Beach is $2,600 which is lower than the state average. Mid Century is the best insurer in the city with an annual rate of $1600. The price difference between the highest and the lowest is close to $4000 which stress the fact that research is necessary before going with a particular insurer.
Your age-group and the city that you live in are the biggest predictors of the rate that you will pay annually.The data above clearly shows that to see that you get cheaper rates when you grow older. It is also important to know that the same insurer might not be the best in a particular city even though they offer the cheapest rates in the state.The cheapest auto insurer is not always the best. You have to look at other factors such as the number of complaints made and customer service to determine the best.