After analyzing the top carriers from a pool of the largest car insurance companies in Virginia by market share, we chose Erie Insurance as the state’s best auto insurer. Virginia drivers enjoy auto insurance costs that are lower than the national average. Among them, Erie Insurance offers the lowest rates, and it also has a perfect consumer satisfaction score and comprehensive policies.
For our analysis, we collected information from J.D. Power and financial analysis institutions such as AM Best, S&P, and Moody’s. Using these factors, plus the average annual premiums of each company, we established the five best car insurance companies in Virginia.
The 5 Best Car Insurance Companies in Virginia
| Erie | USAA | Progressive | Travelers | Nationwide | |
| Our review | Our review | Our review | Our review | Our review | |
| AM Best Financial Strength Rating | A+ | A++ | A+ | A++ | A+ |
| J.D. Power 2019 Overall Customer Satisfaction Score (Mid-Atlantic region) | 5/5 | 5/5 | 2/5 | 2/5 | 2/5 |
| Avg. Annual Premium | $591 | $451 | $507 | $690 | $794 |
Quadrant car insurance rate data as of 04/01/2020
Erie Insurance
Virginia Auto Insurance
Pros
- Affordable annual premiums
- High overall consumer satisfaction rating
Cons
- No mobile app
Erie Insurance received a perfect rating from J.D. Power for overall customer satisfaction. It’s also a very affordable option for car insurance in Virginia, especially considering policies that include things like locksmith services and personal item coverage.
One issue people might find is its lack of a mobile app. Its online claims options are also limited. Erie Insurance focuses on direct customer service, so it encourages customers to contact an agent by phone.
USAA
Virginia Auto Insurance
Pros
- High customer satisfaction rating
- Flexible payment plans
Cons
- Only available for current or past military members
USAA is the cheapest insurance option in Virginia and it offers flexible payment plans for its customers, which makes it even more affordable. The company also received a rare perfect overall customer satisfaction rating from J.D. Power.
The only catch is USAA’s strict requirements: It’s only available to the military community. But if you fit the criteria, USAA is an affordable and highly rated auto insurance option.
Progressive
Virginia Auto Insurance
Pros
- Helpful online tools
- Several possible discounts
Cons
- Only offers six-month policies
Progressive is an affordable option with a strong online presence. Its website has helpful tools such as the Name Your Price Tool and the Quote and Compare tool that ensure your policy is the best price for your situation.
Along with being one of the lowest cost providers, Progressive offers numerous possible discounts for customers as well, such as driver-based discounts and loyalty-based discounts. One of the biggest potential drawbacks for Virginia drivers is that the company only provides six-month policies. Some people prefer to lock in rates for a year, and they should look into other companies to get that.
Travelers
Virginia Auto Insurance
Pros
- Lots of possible discounts
- Strong financial rating
Cons
- Lower-than-average overall consumer rating
Travelers is a long-established company, with solid financial ratings and superior scores across several of the biggest financial analytics companies. This allows it to offer several discount options to its customers, like discounts for multiple vehicles, multiple policies, electric/hybrid cars, and safe driving records.
However, Travelers has an underwhelming overall consumer rating. J.D. Power gives Travelers a 2 out of 5 rating, showing its customer service could be a hit or miss.
Nationwide
Virginia Auto Insurance
Pros
- Website has lots of resources
- Strong financial rating
- Several discounts available
Cons
- Below average consumer rating
Nationwide offers its customers a great hub of resources to help understand its insurance policies and other things like insurance laws and types of auto insurance. The company has great financial ratings with all the major financial analytics companies. Also, Nationwide’s list of discounts includes safe driver, good student, accident-free, and more, to help you save money.
On the other hand, its J.D. Power rating from the 2019 Auto Insurance Study isn’t quite as good. Nationwide’s overall consumer rating is only 2 out of 5, which is below average.
The Cheapest Car Insurance Companies in Virginia
| Largest Companies by Market Share in Virginia | Average Annual Premium |
| USAA | $451 |
| GEICO | $522 |
| Progressive | $507 |
| State Farm | $571 |
| Erie Insurance | $591 |
| Travelers | $690 |
| Nationwide | $794 |
| Allstate | $966 |
| Metropolitan Insurance | $1,106 |
| Credit Rating tier | Average Annual Premium |
| Poor | $1,026 |
| Below Fair | $879 |
| Fair | $755 |
| Average | $700 |
| Good | $629 |
| Excellent | $533 |
| Average Across Credit Rating Tiers | $754 |
Top 3 Cheapest Car Insurance Companies in Virginia
- USAA – $451
- Progressive – $507
- GEICO – $522
Top 3 Most Expensive Car Insurance Companies in Virginia
- Metropolitan Insurance – $1,106
- Allstate – $966
- Nationwide – $794
The three cheapest Virginia car insurance companies are USAA, Progressive, and GEICO, while Metropolitan Insurance, Allstate, and Nationwide top the charts as the most expensive. But still, the cost of car insurance in Virginia is lower than the national average. Legally, auto insurance isn’t required by the state, but there’s a fee for uninsured drivers. Regardless, it’s always recommended that you drive with insurance for your financial safety if you’re involved in an accident.
These rates are based on general profiles only. To find the best coverage for your specific driving situation, do your research and request personalized quotes from providers.
Guide to Car Insurance in Virginia
Virginia Minimum Liability
In Virginia, it’s legal to drive without insurance. Uninsured drivers only need to pay an “uninsured” fee of $500 each year. They’re also liable for any expenses resulting from a car crash, and for that reason, the safer thing to do is purchase auto insurance.
For those who get car insurance, Virginia’s minimum liability coverage is pretty average for the country. The state requires:
- Bodily injury or death of one person – $25,000
- Bodily injury or death of two or more people – $50,000
- Property damage – $20,000
While this is the minimum coverage, that doesn’t mean it’s the best coverage for your needs or to cover you financially in the event of an accident.
Consider Purchasing More Than Just the Minimum
Minimum liability coverage is a useful safety net to have but may leave you at risk. If you damage a luxury car or cause extensive bodily harm to yourself or others, the financial repercussions can still be disastrous. The safest course of action is to find the most comprehensive plan that fits your budget.
How We Found the Best Virginia Car Insurance Companies
To find the best car insurance companies in Virginia, we started with the largest carriers in the state. We considered ratings from consumer agencies like J.D. Power to gauge customer satisfaction. We also looked at their standings from financial analysis groups such as AM Best to see their financial strength.
We worked with Quadrant Information Services to provide data on auto insurance rates by company and credit score. Quadrant makes this information available using rate data that insurers are required to file with the state Department of Insurance. Rates are based on sample profiles created by Reviews.com for comparative purposes.
Car Insurance in Virginia FAQ
How much is car insurance in Virginia?
The average cost of car insurance in Virginia is about $842. That’s lower than the national average of $1,009. Various factors go into your final auto insurance cost, such as the make and model of your car, your age, and where you live in the state.
Does Virginia require car insurance?
Virginia does not require motorists to purchase auto insurance. It does, however, mandate uninsured motorists to pay a yearly fee of $500.
About the Authors
Lorraine Roberte is a South Florida-based personal finance writer. Her work has been published on sites such as Thrive Global, Elephant Journal, Red Tricycle and Tweak Your Biz.
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