120+ more*Quotes generated for Insurify users from Virginia within the last 10 days. Last updated on September 20, 2026. Actual quotes may vary based on the policy buyer’s unique driver profile.
*Quotes generated for Insurify users from Virginia within the last 10 days. Last updated on September 20, 2026. Actual quotes may vary based on the policy buyer’s unique driver profile.
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8 years in insurance and personal finance writing
Former data scientist for U.S. Geological Survey
Lindsay is a freelance personal finance writer currently pursuing her Series 65 license. She enjoys helping readers learn money management skills that improve their lives.
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Licensed property and casualty insurance agent
10+ years editing experience
NPN: 21630969
MacKenzie Korris is an insurance copy editor with a producer’s license for property and casualty insurance in Missouri.
){kind=small}
25 years teaching risk management and insurance course
Former commercial lines underwriter
David is the managing director of the Brantley Risk and Insurance Center. He has been quoted by The New York Times and CNN.
Updated
Gap insurance pays the difference between what you still owe on your car loan or lease and what insurance actually pays out for your vehicle if your insurer declares it a total loss. It’s often affordable, but you need to know what you’re buying first.
Nearly 116,000 accidents happened in Virginia in 2025.[1] With 35% of Virginians driving a financed or leased car and people taking out longer auto loans, more drivers are at risk of owing more than their car is worth after an accident.
Here’s what to know about gap insurance and why it can be a valuable part of your Virginia car insurance coverage.
Virginia residents buying new cars in 2025 took out an average auto loan of $31,444, according to a think-tank analysis of University of California Consumer Credit Panel data.
Last year, about 1.3% of all vehicles registered in Virginia were in accidents.
Auto-Owners offers both the cheapest full-coverage policy in Virginia and the cheapest gap coverage add-on.
It’s usually cheaper to buy gap coverage from a car insurance company than from a lender or car dealer. It’s also easier to drop when you don’t need it anymore. Most insurers offer gap insurance, but not all.
Here are the most affordable insurers in Virginia offering quality coverage on a standard insurance policy, paired up with a gap coverage endorsement:
Gap Insurance Company | Average Monthly Quote for Full Coverage | Best For |
|---|---|---|
| Auto-Owners | $100 | Customizable coverage |
| USAA | $137 | Active-duty military and veterans |
| CSAA | $135 | Quality service |
| User Reviews | 4.3 |
|---|---|
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.2 /10 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $56/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $100/mo |
Auto-Owners's score | Industry average | |
|---|---|---|
| Coverage options | 4.0 | 3.2 |
| Customer service | 3.7 | 3.6 |
| Discounts | 3.5 | 2.9 |
| Policy transparency | 3.9 | 3.1 |
| Value | 3.5 | 2.9 |
Customers appreciate the friendly service and quick claims process but dislike the constant rate increases and perceived inflexibility in pricing.
If you’re considering buying gap insurance, you may benefit from adding other affordable coverage types, too. Auto-Owners offers a large selection of policies, including home, renters, motorcycle, and boat insurance, that you can bundle with your auto and gap coverage.
You can also customize your car insurance with add-ons like additional expense coverage, roadside assistance, and accident forgiveness. Auto-Owners is generally the most affordable insurer in Virginia, too.
Many local Virginia agents
Cheapest car insurance and gap coverage add-on in Virginia
Wide range of optional coverage types and other insurance products
Below-average rating in J.D. Power U.S. Insurance Digital Experience Study
Quotes not available online, must go through an agent
Not offered in half the country, especially out West, in case you move
| User Reviews | 4.9 |
|---|---|
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 9.1 /10 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $77/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $137/mo |
USAA's score | Industry average | |
|---|---|---|
| Coverage options | 4.9 | 3.2 |
| Customer service | 4.9 | 3.6 |
| Discounts | 4.9 | 2.9 |
| Policy transparency | 4.9 | 3.1 |
| Value | 4.9 | 2.9 |
Customers appreciate the insurer’s reliable customer service and claim handling but express concerns about high rates and frequent price increases. Some also find the insurer’s security protocols and communication methods frustrating.
Virginia is home to thousands of military members and their families, one of the highest concentrations nationwide. While USAA isn’t the cheapest insurer for gap coverage or standard policies on our list, it’s not far off from the top, either. USAA can provide excellent coverage during your stay in Virginia and thereafter if you relocate.
AM Best financial strength rating of A++ (Superior)
Excellent service for all stateside and overseas service members
Numerous discounts, coverage options, and other banking and insurance services
No local branches or insurance agents in Virginia
Available only to military members and their families
Better Business Bureau customer reviews of 1.16 stars (out of 5)
| User Reviews | 4.6 |
|---|---|
| IQ Score The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores. | 8.5 /10 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $95/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $135/mo |
CSAA's score | Industry average | |
|---|---|---|
| Coverage options | 4.3 | 3.2 |
| Customer service | 4.4 | 3.6 |
| Discounts | 4.3 | 2.9 |
| Policy transparency | 4.2 | 3.1 |
| Value | 4.2 | 2.9 |
Drivers appreciate the professional customer service and quick claim handling but dislike the consistent rate increases and expensive premiums. Some also found the communication lacking and felt neglected.
The claims process on a totaled car can be especially nerve-wracking, given the size of the financial loss. That’s why it often pays to choose an insurance company known for fair claims handling.
CSAA ranked well above average in the J.D. Power U.S. Claims Satisfaction Study. You don’t pay much extra for that good service, either. CSAA is the third-cheapest insurance company in Virginia, according to Insurify data.
Extra benefits for AAA members
High marks for claims satisfaction, per J.D. Power
Excellent J.D. Power rating for overall satisfaction in Virginia
No local offices or agents in Virginia
Limited information on discounts and coverage options
Policies not offered in half the country if you move out of Virginia
When an insurance claim settlement isn’t enough to pay off your auto loan or lease balance, gap insurance steps in. Here’s a quick summary of how gap insurance works if you ever need to file an insurance claim:
Claims adjuster totals the vehicle. After you file a claim, the insurance company will estimate the damage. In Virginia, if repairs would cost more than 75% of your car’s actual cash value (ACV) to fix, insurers will declare it a total loss.[2]
Insurer pays lender the ACV. Since you still owe on your car, the insurance company will send the insurance payout funds directly to your lender or lessor. If it’s not enough to pay off your auto loan or lease outright, your gap coverage will kick in.
Gap insurance covers the remaining balance. Normally, you’d owe the rest out of pocket if the insurance payout doesn’t cover your remaining loan balance. But with gap coverage, your insurance company will cover the difference, leaving you free of the debt.
Full-coverage rates start as low as $100/mo. in the Commonwealth
Gap insurance from a typical Virginia insurance company costs between $2 and $8 per month, according to Insurify data.
You can also purchase a second type of gap coverage through car dealers and lenders. These are “gap waivers,” since they’re not true insurance products. Gap waivers are typically much more expensive, and you pay for them all up front — usually by rolling the cost into your vehicle loan. Often, they cost between $500 and $700.[3]
Guaranteed asset protection (gap insurance, for short) covers any remaining loan or lease balance on a totaled car if the insurance payout isn’t enough to cover it. You can typically add it to a full-coverage policy, as gap insurance alone doesn’t cover everything.
Generally, gap insurance will cover:
The loan balance on a vehicle totaled in an accident
The lease balance on a vehicle in an accident
Loan or lease balance on an unrecovered stolen vehicle
Total loss due to natural disaster like flood or wildfire
Situations and losses gap insurance won’t cover include:
Standard maintenance
Damage due to wear and tear
Amounts rolled over from a previously financed vehicle
Partial damage
Engine repairs
Loan or lease fees (for example, excess mileage or late fees)
Missed loan payments
Your insurance deductible
For example, let’s say someone steals your new vehicle, and the police don’t recover it. The insurance company will only pay out its depreciated value of $35,000, but you still owe $40,000 on the vehicle loan. That leaves you with $5,000 left to pay on a car you no longer own. But if you have gap insurance, your gap insurer pays the remaining $5,000, so you don’t have to.
It’s important to know that, despite the name, full coverage doesn’t always fully protect you. A full-coverage policy will only pay out up to your car’s current market value, not what you actually owe on your loan. Gap insurance is a separate add-on, or endorsement, you can buy with most insurance policies.
The following table compares what full coverage and gap insurance each covers.
Coverage Feature | Full Coverage | Gap Insurance |
|---|---|---|
| Covers personal liability? | ✔ | |
| Covers car repairs? | ✔ | |
| Covers theft? | ✔ | |
| Covers loan gap for totaled vehicle? | ✔ |
Virginia doesn’t require drivers to buy gap insurance, so many people may think it’s OK to skip it. But if you’re still paying on a car lease or auto loan, it’s worth looking up your car’s current value and comparing it to your remaining loan balance or lease.
If your balance is higher than your vehicle’s actual cash value — which is what you’d get in an insurance payout — gap coverage is worth considering.
Here are some common reasons why you might have a gap between your car’s value and your insurance payout:
You made a small down payment.
You took out a very long auto loan or lease.
You bought a car with a fast depreciation rate.
You rolled over negative equity from your last vehicle into your new loan or lease.
But not everyone needs gap insurance. If you own your car outright — as two-thirds of Virginia residents do — you don’t need it at all, since you have no financial obligation to cover.
Using Insurify to compare quotes could cut your bill up to 50%
Virginia residents have the option of buying two types of gap insurance. You can often buy a traditional gap insurance policy as an add-on to your existing car insurance policy. Alternatively, car dealers and lenders often sell gap waivers — which aren’t technically insurance at all — as a separate add-on to your loan or lease.
Gap Insurance Source | Pros | Cons | Gap Waiver or Gap Insurance? |
|---|---|---|---|
| Car dealership |
|
| Gap waiver |
| Auto insurance company |
|
| Gap insurance |
| Bank |
|
| Gap waiver |
| Credit union |
|
| Gap waiver |
Virginia drivers account for 2.3% of all U.S. new-vehicle registrations.[4] If you drive a leased or financed car, it’s important to fully protect yourself financially with gap insurance. Here’s some quick info to help out.
No. Virginia doesn’t require that you buy gap insurance. It’s a good idea to consider it if you financed your car, though, and some leasing companies may require it.
Gap insurance steps in to pay off the remaining balance on your auto loan after your insurance payout covers the actual cash value of your totaled car. Your loan balance can exceed your car’s ACV during the first few years of your auto loan, when your car depreciates faster.
Car insurance companies in Virginia typically charge an extra $2 to $8 per month, on top of your existing auto policy, for gap insurance. If you buy it through your auto lender or leasing company, it’ll typically add an up-front fee of $500–$700 onto your loan balance, meaning that you’ll pay even more in interest charges, too.
Virginia teens typically pay $389 per month for full-coverage car insurance, and $220 per month for minimum coverage. Teen drivers pay rates higher than Virginia’s average car insurance costs for all ages of $207 and $117, respectively.
Insurify data scientists analyzed more than 250 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 500+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.
Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).
Liability-only premium averages correspond to policies with the following coverage limits:
Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.
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8 years in insurance and personal finance writing
Former data scientist for U.S. Geological Survey
Lindsay is a freelance personal finance writer currently pursuing her Series 65 license. She enjoys helping readers learn money management skills that improve their lives.
Licensed property and casualty insurance agent
10+ years editing experience
NPN: 21630969
MacKenzie Korris is an insurance copy editor with a producer’s license for property and casualty insurance in Missouri.
25 years teaching risk management and insurance course
Former commercial lines underwriter
David is the managing director of the Brantley Risk and Insurance Center. He has been quoted by The New York Times and CNN.
At Insurify, our goal is to help customers compare insurance products and find the best policy for them. We strive to provide open, honest, and unbiased information about the insurance products and services we review. Our hard-working team of data analysts, insurance experts, insurance agents, editors and writers, has put in thousands of hours of research to create the content found on our site.
We do receive compensation when a sale or referral occurs from many of the insurance providers and marketing partners on our site. That may impact which products we display and where they appear on our site. But it does not influence our meticulously researched editorial content, what we write about, or any reviews or recommendations we may make. We do not guarantee favorable reviews or any coverage at all in exchange for compensation.
