How Much Does Car Insurance Cost for 16 Year Olds in Virginia?

Comparing quotes for affordable insurance is hard enough, and determining which companies quote the lowest-priced insurance rates for 16 year olds involves even more perseverance. Coverage rates should be significantly more than the average rate in Virginia attributed to the potentially higher risk related to selling insurance for new drivers, but affordable insurance should be achievable if you thoroughly shop around. Each company uses a little different formula for determining rates in each state, so first let’s look at the rankings for the insurance companies with the overall cheapest rates in Virginia.

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Travelers may have some of the cheapest car insurance rates in Virginia at around $653 each year. USAA, Cincinnati Insurance, Penn National, and Utica National also make the cut as some of the cheapest Virginia car insurance companies.

As the rates illustrate above, if you have coverage with Utica National and switched to USAA, you might see a yearly price reduction of about $72. Policyholders with Auto-Owners could save as much as $79 a year, and The Hartford policyholders might lower prices by up to $92 a year.

These premium estimates are averages for all insureds and vehicles and are not factoring in a price increase for 16 year olds. So the insurer that can offer you the best rate may not even be included in the list of companies shown earlier. That points out the importance of why you need to get rate quotes from many companies using your own specific driver and vehicle information.

One of the key criteria that impact rate quotes is where your residence is in Virginia. Areas with more people or higher crime rates like Burke, Centreville, and Alexandria will most likely have higher rates, whereas areas with less traffic congestion and claims benefit from lower prices.

The information below sorts the priciest cities in Virginia for 16 year olds to purchase auto insurance in.

Information shown are approximated as specific Virginia zip code can decrease or increase rates greatly.

Cost difference between full coverage and liability

Finding cheap car insurance for 16 year olds in Virginia is probably important to the majority of people, and one good way to reduce the cost of insurance is to only buy liability insurance. The example below illustrates the comparison of auto insurance rates with full coverage compared to only the Virginia minimum liability coverage. The premiums are based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are single, and no additional discounts are factored in.

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If all age groups are averaged, physical damage coverage on your policy costs an extra $1,334 per year more than just buying liability insurance. That is a large expense and it proposes the question if buying full coverage is worth the money. There is no exact formula to delete physical damage coverage on your policy, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.

There are some cases where removing full coverage is not financially feasible. If you haven’t satisfied your loan, you have to carry full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.

Which car insurance company is best?

If you want reliable car insurance for new drivers in Virginia, four of the best places to start are State Farm, Progressive, Allstate, and Geico. The data below shows ratings and policy coverage options .

Who has the cheapest insurance quotes for new drivers?

Drivers have a lot of ways to find lower-cost insurance in Virginia, but the most preferred ways are from an independent or non-exclusive agent, a captive (or exclusive) agent like Auto-Owners or State Farm, or buying direct from a company like Geico or Progressive. They all follow the same basic process, but buyers need to know the differences in how they give price quotes.

Independent insurance agencies work for many companies and can get policy pricing from all of them. Agents of this type do not work for one specific company and can provide multiple price quotes, which can give you the best chance of finding a lower price. If you are not satisfied with one company, your agent can just switch to a different company which makes it easier to save money.

Exclusive agents are limited to just one company like an Auto-Owners or State Farm agent. These guys and gals cannot quote rates from more than one company, so they really need to provide good service.

If you choose to buy insurance direct, you bypass local insurance agents and buy from a direct company like Progressive. Shopping for insurance direct may be a decent choice drivers who do not need advice for asset protection and know what limits they need.

Which method is best for finding cheap car insurance for 16 year olds in Virginia? Most people would assume that shopping direct results in the best prices since that prevents the need to pay agent commissions, but in reality, that is not the case. And we’d like to say buying insurance from an independent agent saves the most money due to increased selection, but that’s not always true, either. In a lot of cases, the exclusive agents may have very competitive prices that are well below what direct and independents offer.

Because there are so many factors that make up insurance rates, really the only way to get rock-bottom rates is to compare, compare, and compare some more. Be sure to get price quotes from all three to give yourself the best selection. For a list of insurance companies with low rates, click here to view.

Find cheap car insurance for 16 year olds in Virginia

It’s not impossible to find cheaper rates, and here are some of the recommended thrifty solutions that can help you get cheaper auto insurance.

• Serious violations like DUI or careless driving can make car insurance unaffordable
• Frequent claims will increase rates
• Buy your homeowners policy from the same company as your auto insurance
• Older vehicles may not need full coverage
• Avoid accidents and claims
• Buy a car with high safety ratings
• Keep rates low by comparing prices once a year

The last tip in the list is particularly crucial, as we hit on in the prior information. Insurance prices vary considerably, so don’t be afraid to switch to a new company if you can find a cheaper rate. Having a favorite company is fine, but it’s not recommended if that loyalty ends up costing thousands of dollars over several years. Now is a great time to compare prices to find cheaper car insurance for 16 year olds.