How Much are Insurance Quotes for Ride Shares in Virginia?

Trying to find reasonably-priced insurance is not the easiest thing to do, and figuring out which company offers the cheapest insurance rates for used cars may require even more rate comparisons. Each auto insurance company has their own process for setting prices, so first we will examine the insurance companies with the overall best prices in Virginia.

We do need to point out that Virginia insurance rates are based on many factors that control the price you have to pay. This price variation is why consumers need to take the time to perform an extensive rate comparison when trying to get the cheapest insurance rates for used cars. Prices are influenced by many factors and can increase or decrease at any time, so the most affordable company when you bought your policy may now be an over-priced policy.

Cheap Insurance Rates for Used Cars

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google.charts.setOnLoadCallback(drawVAT5qcibChart);function drawVAT5qcibChart() {var data = google.visualization.arrayToDataTable([[‘Company’, ‘Rate’, { role: ‘style’ }], [‘Travelers’, 679, ‘#67CF33’], [‘USAA’, 688, ‘#55AC2A’], [‘Penn National’, 718, ‘#468F23’], [‘Cincinnati Insurance’, 733, ‘#3A771D’], [‘Erie’, 780, ‘#306318’]]);var options = {title: ‘Low-Priced Car Insurance Companies in Virginia’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 300,’chartArea’: {left:0,top:50,’width’: ‘100%’, ‘height’: ‘70%’},bar: {groupWidth: “90%”},legend: {position: ‘none’},vAxis: {viewWindowMode:’explicit’,viewWindow:{max:880,min:0}}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});var view = new google.visualization.DataView(data);view.setColumns([0, 1,{ calc: “stringify”,sourceColumn: 1,type: “string”,role: “annotation” },2]);formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.ColumnChart(document.getElementById(‘qcibt5cic’));chart.draw(view, options);}

Travelers may have some of the cheapest car insurance rates in Virginia at around $679 a year. USAA, Penn National, Cincinnati Insurance, and Erie would also make the list of some of the best Virginia auto insurance companies.

As shown in the rates above, if you are currently insured with Cincinnati Insurance and switched to USAA, you may see yearly savings of around $45. Drivers with Erie could save as much as $92 a year, and Auto-Owners customers might reduce rates by $93 a year.

To see if you’re overpaying, click here or visit several of the following companies.

It’s important to note that these estimates are averaged across all types of insureds and vehicles and do not factor in a rate discount for used cars. So the car insurance company that is most affordable for your situation may not even be shown in the list above. That affirms the importance of why you need to compare rates from multiple companies using your own specific driver and vehicle information.

The vehicle you are insuring is a large factor when consumers are trying to find cheap insurance for used cars in Virginia. Vehicles with high performance engines, poor safety ratings, or a track record of large liability claims will cost quite a bit more to insure than safer, lower-performance models. The data below illustrates insurance prices for a selection of the most cost-effective vehicles to insure.

Data rating is based on married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Virginia minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Table data does not factor in specific Virginia garaging location which can impact auto insurance rates significantly.

Data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Premium amounts do not factor in specific zip code location which can decrease or increase price quotes significantly.

Cost estimates assume married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Virginia minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Premium costs do not factor in specific location which can modify premiums considerably.

Difference between full coverage and liability only rates

Finding cheap insurance for used cars in Virginia is the goal of most people, and a good way to buy cheaper insurance is to buy only liability coverage. The example below visualizes the comparison of insurance prices when comparing full coverage to liability only. The prices are based on no claims or violations, $250 deductibles, single marital status, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $250 Deductibles’, ‘Liability Only’],[‘Age 20’, 3115,1037],[‘Age 30’, 1605,571],[‘Age 40’, 1589,529],[‘Age 50’, 1449,497],[‘Age 60’, 1401,487],[‘Age 70’, 1717,651]]);var options = {title: ‘Comparison of Rates for Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Virginia’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

On average, full coverage on your policy costs $1,813 per year over and above liability coverage. That is a big expense that brings up the question if you should buy full coverage. There is no clear-cut formula that works best for making the decision to drop full coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then you might consider buying liability only.

There are some scenarios where dropping full coverage is not a good plan. If you haven’t satisfied your loan, you have to maintain full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not consider dropping full coverage.