What’s considered the best car insurance in Virginia varies from driver to driver. You may be looking for the cheapest car insurance for the minimum coverage or the best insurance for full coverage. In order to find the best car insurance for your budget and lifestyle, you should shop around. Take a look at some tips for finding the best car insurance in Virginia.
Does Virginia Have A Minimum Car Insurance Requirement?
Like many other states, Virginia has minimum insurance requirements, and if you don’t carry this minimum, you need to pay an Uninsured Motor Vehicle fee. In order to purchase license plates or get decals, you need to provide proof that the vehicle has the minimum insurance coverage or you’ve paid the fee. The uninsured motorist fee is $500 a year, and you can pay it when you register your car.
If you decide to meet the requirement for minimum insurance, you must have:
- Bodily injury of $25,000 per person and $50,000 per accident
- Property damage of $20,000 per accident
- Uninsured motorist bodily injury coverage of $25,000 per person and $50,00 per accident
- Uninsured motorist property damage of $20,000 per accident that has a deductible of $200 for hit-and-run accidents
Make sure you keep your proof of insurance or proof you’ve paid the uninsured motor vehicle fee in your car at all times. Virginia will electronically check to make sure you have one of these for each vehicle, and there are severe penalties for not complying with the insurance requirements.
Top Insurance Companies in Virginia
According to J.D. Power, some of the top insurance companies in Virginia are:
- State Farm
These three companies earned high scores for their customer satisfaction and claims satisfaction. These companies also offer some of the cheapest rates for drivers looking for minimum coverage.
Geico is another large insurance company that does business in Virginia. This company receives high ratings for customer satisfaction and good ratings for its claims process. Geico also offers accident forgiveness coverage for customers to earn if they are over 21 and accident-free for five years. If a driver is under 21, they can purchase the forgiveness coverage.
Can I Get Extra Car Insurance Coverages in Virginia?
Many insurance companies in Virginia offer optional coverage in addition to the minimum. The options vary by carrier, but some that you can add include:
- Comprehensive. Comprehensive coverage pays for damage to your vehicle that is not the result of an accident. It can be weather, a branch falling, or theft.
- Collision. Collision coverage pays for damage to your vehicle that happens in a crash with another vehicle or an object.
- Gap coverage. Gap insurance provides depreciation protection. When you buy a new car, it depreciates quickly, and you might owe more than the car’s value. Gap insurance will pay for the difference if you get into an accident and total the car.
- Roadside assistance. Roadside assistance is a convenient addition that will pay for a tow if you break down or pay to have gas brought to you if you run out on the road.
- Medical payments. Medical payment coverage pays for medical-related costs due to an accident regardless of fault.
- Rental car reimbursement. If you get into an accident and need a replacement vehicle until yours is fixed or buy a new one, rental reimbursement will cover the cost of the rental.
- Lost income. Every Virginia carrier is required by law to offer lost income benefits for up to $100 a week for a year.
The best car insurance in Virginia will balance the coverage options with the cost. Each driver has different needs, and the company and policy that meets these needs is the best for you.
What Are the Best Car Insurance Companies in Virginia For Drivers on a Budget?
If you are on a budget, Geico, USAA, and State Farm offer the lowest rates for minimum coverage. Most drivers will find that State Farm has the cheapest options for drivers that fall into several categories, including drivers with speeding tickets, senior drivers, and drivers with accidents on their record.
Erie Insurance has cheap rates for teen drivers, and if you have a military affiliation, USAA is the company with the best rates no matter how old you are or what you have on your driving record.
How Do I Find the Best Car Insurance In Virginia?
To find the best car insurance in Virginia, you’ll need to do some shopping and comparisons. Research companies that balance cost with good customer service and make sure to look at financial stability. Take the following steps to find the best provider for you.
Research Customer Service Reputations for Insurers in Virginia
You can look up J.D. Power scores for all the companies you are considering. The NAIC is also a good resource with complaint ratios for the state of Virginia customers.
Compare Quotes From Several Different Companies
Either call or go online to get quotes from several companies. You should get at least three before comparing them, and make sure you quote the same coverage for each company.
Make Sure You Look at Companies That Have the Coverage You Need
Each company offers different types of insurance. You’ll want to make sure the companies you get quotes from have the coverage you need to stay protected.
Check and Double-Check Financial Stability Ratings.
Large insurance companies that do business across the United States tend to have stronger financial ratings than smaller, regional companies. You can find financial ratings by going to AM Best, Standard and Poor’s, or Moody’s. A.M. Best is the most common rating company used by insurance companies. If you go to their website, you can look up the providers you are considering.
The best car insurance in Virginia for you depends on your specific needs. Once you do some research and get quotes, you can determine which company provides the best offer. Keep in mind that cheaper is not necessarily better. You’ll want to consider all the different factors before making a decision.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.