State Farm, USAA, Erie Insurance, Travelers and Auto-Owners Insurance are our preferred choices for finding cheap car insurance in Richmond. These five companies offer average car insurance costs that are cheaper than the minimum and full-coverage averages for the city. 

They also have reputations for providing many versatile coverage options and superb customer service.

Keep reading: Cheap Car Insurance

Unless stated otherwise, the following cost tables show average rates for the driving profile of a 35-year-old married driver with good credit and a clean driving history.

Our data shows that the average cost of car insurance for minimum coverage in Richmond is $54 per month or $649 per year. This is about 4% more than the national average of $52 per month or $625 per year. 

Similarly, full-coverage insurance costs $154 per month or $1,848 per year on average, which is about 8% less expensive than the national average of $167 per month or $2,008 per year for full coverage.

Cheapest Liability Car Insurance in Richmond, Va.

State Farm offers the cheapest liability insurance with average rates of $35 per month or $424 per year. USAA is the second-cheapest option in Richmond with average rates of $36 per month or $436 per year.

Liability coverage is the minimum coverage required by the state of Virginia. According to Virginia law, all drivers must either meet or exceed the following minimum requirements:

• $50,000 bodily injury liability per accident
• $25,000 bodily injury liability per person
• $20,000 property damage liability per accident
• $50,000 underinsured/uninsured motorist bodily injury coverage per accident
• $25,000 underinsured/uninsured motorist bodily injury coverage per person
• $20,000 underinsured/uninsured motorist property damage coverage per accident

Cheapest Full-Coverage Car Insurance in Richmond, Va.

A full-coverage car insurance policy can be pricey in Richmond. Full coverage includes liability plus comprehensive coverage and collision coverage, which protect against damage to your vehicle in a variety of situations. State Farm is the cheapest full-coverage option with average rates of $107 per month or $1,286 per year.

Auto insurers consider multiple factors when setting car insurance premiums, from a driver’s credit score, to their ZIP code, to their claims history to their age. That’s why the cheapest company for one Richmond driver may not be the most affordable for another. 

This section will take a closer look at the cheapest car insurance companies for different driving profiles in Richmond.

Richmond Car Insurance Cost by Age

Drivers in their teens will always get higher car insurance rates for their stronger likelihood of causing auto accidents and violating traffic laws. Our data shows 16-year-olds pay about $216 per month or $2,592 per year for car insurance in Richmond.

Car insurance costs tend to gradually decrease as young drivers move through their 20s, 30s and 40s, right up until they hit middle age. The table below displays the average minimum-coverage car insurance costs for various age groups in Richmond:

Richmond Car Insurance Cost by Credit Score

In Virginia and most other states, your credit score can affect how much you’ll pay for car insurance. With a lower credit score, you may get higher-than-desired premiums. With a good credit history and a clean driving record, you could end up paying less than average.

Cheapest Car Insurance in Richmond, Va.: Poor Credit

Our rate data shows USAA is the cheapest option for car insurance for bad credit in Richmond. The company offers minimum-coverage policies to drivers with poor credit for rates of $62 per month or $747 per year. This is 47% more than the overall state average for minimum coverage for good credit.

Richmond Car Insurance Cost by Driving Record

If your driving history has any at-fault accidents, speeding tickets or DUI convictions in recent years, expect to pay higher premiums than the average driver. On average, speeding can increase your rates by 55%, an at-fault accident by 91% and a DUI by 135%.

The rate increase after accidents and road violations differs among companies. According to our research, if you have any driving violations, State Farm is the best company to find affordable coverage at. The table below shows average rates by company for drivers who have either a speeding ticket, accident or DUI on their record.

Keep reading: Insurance rates for high-risk drivers

Cheapest Car Insurance in Richmond, Va.: Speeding Ticket

According to our data, State Farm offers the cheapest rates to drivers who have a speeding ticket on their records — $38 per month or $461 per year. USAA follows close behind with an average monthly rate of $44, while Auto-Owners Insurance, Erie Insurance and Travelers round out the top five options for cheap speeding ticket car insurance in Richmond.

Cheapest Car Insurance in Richmond, Va.: DUI

Driving under the influence is a huge road violation that can elevate your car insurance premiums in Richmond by several hundred dollars per year. State Farm is very cheap compared to other companies — offering average rates of $38 per month or $461 per year for drivers with a DUI. Virginia Farm Bureau, Travelers and USAA are also good options with rates under $66 per month on average.

Richmond Car Insurance Cost by ZIP Code

The rate at which insurance claims are filed in different areas of the city can impact the amount you’re charged for car insurance. Below, you can see certain ZIP codes in Richmond can be up to 1.2% cheaper or 1.2% more expensive than the city average.

Auto insurance rates in Richmond are 29% less than the state average for minimum coverage and 4% more than the national average. In Richmond, State Farm presents the lowest minimum-coverage costs ($35 per month on average) and the lowest full-coverage rates ($107 per month on average).

Compare free quotes to find the company that meets your Virginia car insurance needs at the best rate. You can compare insurance products and get auto insurance quotes online or from insurance agents.

Here are some frequently asked questions about the cheapest auto insurance in Richmond, Va.: