Cheap Auto Insurance Quotes in Richmond, VA (2023)

Richmond, Virginia, is known for its rich history and vibrant neighborhoods. As you drive around the thriving city, it’s important that you’re covered by a car insurance policy. The average cost of minimum-coverage car insurance in Richmond is $192 per month — $5 less than the Virginia state average of $197. 

To find a cheap car insurance policy in Richmond, shop around and explore all your options. Here’s everything you need to know about auto insurance rates in Richmond.

How much does car insurance cost in Richmond?

Auto insurance premiums in Richmond vary greatly among insurers and drivers. That’s why it’s crucial to compare quotes and home in on the best rates for your unique situation. To find the cheapest quotes, Insurify data scientists analyzed the most recent insurance rates in Richmond. Car insurance costs in the city range from $61 to $458. They’re based on a variety of factors, such as type of coverage, driving record, driving age, and driving experience.^[1]

• Cheapest liability-only insurance: State Farm

• Cheapest full-coverage insurance: State Farm

• Cheapest insurance for new and young drivers: Kemper Preferred

Learn More: Average Cost of Car Insurance in Virginia

Cheapest car insurance in Richmond: State Farm

State Farm is the cheapest car insurance provider in Richmond, with an average rate of $61 per month. ZIP code, vehicle, age, and driving record all affect auto insurance rates in the city.^[1]

The following table provides insight into average monthly costs for minimum- and full-coverage car insurance in Richmond.

Average cost of auto insurance in Richmond

The average monthly cost of car insurance in Richmond ranges from $70 to $397 per month. Your driving habits and the company you choose will influence how much you pay for a policy.

The following table provides average monthly quotes from insurance companies serving Richmond drivers.

Average car insurance premiums in Richmond by marital status

In Richmond, unmarried drivers pay an average of $231, whereas married drivers pay an average of $220. When drivers combine their vehicles under one insurance policy, insurers account for both drivers’ records, credit scores, vehicle makes and models, and ages.^[1]

If both drivers have clean records and good credit, they may see lower rates on average. However, if one or both drivers have multiple traffic infractions, bad credit, and an expensive-to-insure car, then they may pay higher premiums.

How much car insurance do you need in Richmond?

Virginia mandates auto insurance for all drivers and requires them to carry proof of insurance in their vehicles at all times. To drive legally in Richmond, you’ll need to meet the following minimum car insurance requirements.

• $30,000 per person and $60,000 per accident for bodily injury liability coverage

• $20,000 per accident for property damage liability coverage

Keep in mind that these limits will increase for policies effective on or after Jan. 1, 2025, when you’ll be required to carry bodily injury coverage of $50,000 per person and $100,000 per accident and property damage coverage of $25,000.^[2]

Virginia DMV information

The Virginia Department of Motor Vehicles overlooks driver’s licensing, titling, registration, commercial permitting, and related initiatives in the state. You can use the DMV website to schedule an appointment, renew your license or registration, change your address, buy a license plate, and report a car traded or sold.

Tips for getting cheap car insurance in Richmond

To lower your auto insurance premiums in Richmond, consider these strategies.

• Bundle. Most car insurance companies offer discounts to customers who purchase both their auto and home or renter’s insurance policies from them.

• Maintain a clean driving record. Traffic violations like speeding, at-fault accidents, and DUIs can increase car insurance rates. Drive safely and carefully to avoid these incidents.

• Look for discounts. Auto insurance companies usually offer a variety of discounts to policyholders. Some examples include good student discounts, safe driving discounts, automatic payment discounts, and low-mileage discounts for driving fewer miles than average per year.^[3]

• Improve your credit. Some insurance providers look at your credit when determining your car insurance premiums. In general, the higher your credit score, the lower your rates will be.

• Increase your deductible. A higher deductible can significantly lower your premiums. If you go this route, however, make sure you have enough money saved up to pay for the higher deductible in the event of a claim. 

• Shop around. Get at least three quotes from different car insurance companies. This way you can explore all your options and land the best deal. Just make sure you compare the same coverage levels. 

“Richmond is a hub of insurance providers, so there are plenty of options to choose from,” says Linda Chavez, founder and CEO of Seniors Life Insurance Finder. “From regional companies offering car insurance in the city to national insurers with offices in the area, you can find a variety of plans that meet your needs and budget.”

Check Out: Compare Home and Auto Insurance Bundles

How age affects car insurance rates in Richmond

Since younger drivers are considered the least experienced, they tend to pay higher car insurance premiums than older drivers with more driving experience under their belts.^[4] However, as drivers age and gain more experience, they also see lower car insurance rates on average, as long as they keep clean driving histories.

Here’s a look at how age can affect car insurance rates in Richmond.

See More: Compare Car Insurance by Age and Gender

Cheapest car insurance for young drivers in Richmond

Kemper offers the cheapest full-coverage car insurance for young drivers in Richmond, at an average of $113 per month. Teen drivers still on their parents’ or guardians’ policies can mitigate increases in car insurance premiums by driving safely, getting good grades, and keeping their car at home while away at school.^[4]

The following table provides insight into average car insurance costs for young drivers in Richmond.

Cheapest car insurance for middle-aged drivers in Richmond

Middle-aged drivers in Richmond can secure the cheapest full-coverage car insurance through Kemper, at an average of $79 a month. Middle-aged drivers can bundle their auto insurance and renters or homeowners insurance under one policy, keep clean driving records, and maintain good or better credit scores to save money on rates.^[3]

Here’s a look at average monthly costs for middle-aged drivers in Richmond.

Cheapest car insurance for senior drivers in Richmond

Elephant has the cheapest car insurance premiums for senior drivers in Richmond. As a senior driver, you may be able to lower your premiums by choosing a low-mileage policy or completing a defensive driving course.^[3]

The following table shows what senior drivers can expect to pay for car insurance in Richmond.

How credit scores affect cheap car insurance in Richmond

Your credit score can affect your auto insurance premiums in Richmond. The FICO credit score tiers are:

• Poor: 580 and below

• Fair: 580–669

• Good: 670–739

• Very good: 740–799

• Excellent: 800 and above^[5]

If you have good credit or better, odds are you’re less likely to file a claim than a driver with fair or poor credit. For this reason, a higher credit score can result in a cheaper policy.^[6]

Virginia is one of the many states that permit auto insurance companies to assess credit scores when determining car insurance rates. Below is an overview of the average cost of full-coverage policies by credit tier.^[7]

Read More: Car Insurance Rates by Credit Tier

The effect of driving habits on car insurance in Richmond

Your driving habits can affect your auto insurance costs in Richmond. If you have a clean record, you may land cheaper premiums than someone with a history of serious traffic violations, such as speeding tickets, at-fault accidents, and DUIs.

Cheapest car insurance with a clean record in Richmond: State Farm

If you prove that you’re a safe and responsible driver with a clean record, you may qualify for the lowest auto insurance premiums in Richmond. State Farm offers the cheapest car insurance quotes for people with clean driving records, at an average of $80 a month.

Here’s what you might pay for car insurance in Richmond if you have a clean driving record.

Cheapest car insurance with an accident in Richmond: State Farm

The following table shows how an at-fault accident can impact your auto insurance rates in Richmond. Overall, State Farm has the cheapest rates for drivers with an accident on their records, at an average of $115 a month. At-fault accidents can stay on your record for three years, so avoid collisions and drive safely to keep your insurance costs as low as possible.

Cheapest car insurance with a DUI in Richmond: State Farm

Driving under the influence is a serious traffic offense that can raise your car insurance rates in Richmond or cause your insurer to not renew your policy.^[8] If you have a DUI on your record, State Farm offers the cheapest quotes for car insurance in Richmond, at $160 a month on average.

Cheapest car insurance with a speeding ticket in Richmond: State Farm

Car insurance providers usually charge higher rates to drivers who have speeding tickets on their records, especially if they have multiple tickets.^[1] State Farm offers the cheapest coverage for Richmond drivers with speeding tickets, at an average of $108 a month.

Car insurance in other Virginia cities

Here’s a look at car insurance rates in some other Virginia cities:

• Cheapest Car Insurance Quotes in Charlottesville, VA

• Cheapest Car Insurance Quotes in Portsmouth, VA

• Cheapest Car Insurance Quotes in Arlington, VA

• Cheapest Car Insurance Quotes in Virginia Beach, VA

Richmond driving conditions

Richmond falls somewhere in between a small town and a big city. Due to its population density of about 3,900 people per square mile,^[9] the roads may get busy, especially during rush hour. Fortunately, weather conditions are fairly mild, even in the colder months, so weather-related accidents are less likely to happen.

Auto theft statistics in Richmond

In the first three months of 2022, auto thefts in Richmond rose by 54%, and vehicle-related thefts increased 50%. These figures show that overall auto thefts have increased compared to 2021. Richmond police launched an initiative called the “Love My Ride” campaign that’s designed to encourage Virginia residents to shield themselves from and curb auto thefts.^[10]

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