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How much does car insurance cost in Richmond?

The average cost of car insurance in Richmond, Virginia, is $1,075 per year. That’s more than the average across Virginia ($1,005) and cheaper than the national average of $1,548. Our guide to Richmond car insurance includes average rates based on age, credit score, driving history, and marital status. Keep reading to learn more!

Richmond car insurance rates by provider

The best way to save on auto insurance is to compare rates from as many companies as possible, selecting the provider from which you receive the most affordable quote. In Richmond, USAA provides the most affordable rates for the typical insurance customer. Reference below the top options for affordable insurance in Richmond. Don’t forget to get car insurance quotes based on your unique driving profile

RICHMOND CAR INSURANCE RATES BY COMPANY
Insurance Company Average Yearly Rate
USAA $883
Erie $966
Progressive $1,004
State Farm $1,048
Nationwide $1,193

 

 

Richmond auto insurance rates by age

The age group that pays the least for car insurance in Richmond are drivers in their 50s ($919per year). Rates for Richmond drivers in their 60s are also relatively affordable, at just $962 per year.

The Richmond drivers who face the priciest insurance rates are teenagers. One of the easiest ways to lower your car insurance rates as a driver in Richmond is to age out of your teenage years. The cost differential between the auto insurance rates paid by teenage drivers and drivers in their 20s in Richmond is $2,554, the largest such difference between any two age groups

RICHMOND CAR INSURANCE PREMIUMS BY DRIVER AGE
Age bracket Average Yearly Rate
Teenagers $4,040
20s $1,487
30s $1,051
40s $1,000
50s $919
60s $962
70s $1,230

 

Richmond auto insurance rates by gender and marital status

Marital status and gender are contributing factors to car insurance rates in many cases. In Richmond, married drivers pay $134 less than single drivers for car insurance. Married drivers enjoy less expensive rates than their single counterparts in most locations, based on data showing they file fewer insurance claims. Rates for those who are widowed are also much cheaper than rates for those who are single. Interestingly enough, in Richmond, single drivers pay more than those who are widowed.

Gender is another factor that can affect auto insurance rates. In Richmond, female drivers pay $2 per year more than do male drivers.

RICHMOND CAR INSURANCE PREMIUMS BY GENDER AND MARITAL STATUS
Marital Status/Gender Average Annual Rate
Female $1,077
Male $1,075
Single $941
Married $941
Divorced $1,075
Widowed $942

Richmond car insurance rates by violation history

No matter where you live, keeping your driving record clean is a great way to keep your auto insurance rates low. Speeding tickets, reckless driving citations, DUIs and DWIs, and at-fault accidents all can trigger insurance rate hikes.

Richmond drivers found guilty of reckless driving pay a steep price when it comes to auto insurance, facing a rate increase of $439 per year versus the city average. A ticket for speeding results in a $266 rate hike while a DWI or DUI violation costs $589per year in extra insurance expenditures

AVERAGE RICHMOND INSURANCE RATES AFTER A VIOLATION OR ACCIDENT
Violation Average Yearly Rate
DWI/DUI $1,664
Reckless Driving $1,514
At-fault Accident (damages less than $1,000) $1,505
At-fault Accident (damages > $2,000) $1,691
Speeding Ticket (16-20 mph over speed limit) $1,341

 

Richmond auto insurance rates by credit tier

Another major insurance rating factor is credit score. Drivers with bad credit histories typically face more expensive car insurance than do drivers with stellar credit. Richmond drivers who improve their credit score from “Very Poor” (300-579) to “Exceptional” (800-850) can save as much as 57% on their car insurance premiums. Moving from “Very Poor” to “Fair” credit is a meaningful step toward saving money on auto insurance. In Richmond, improving your credit to “Fair” could help you earn an $842 decrease in yearly insurance premiums

RICHMOND CAR INSURANCE RATES BY CREDIT LEVEL
Credit Score Average Yearly Rate
Very Poor $2,115
Fair $1,273
Good $1,075
Very Good $977
Exceptional $903

What drives up car insurance rates in Richmond?

Where you live in Richmond affects your car insurance rates. Besides your driving history and credit score, where you live is one of the biggest contributing factors to the car insurance rates you’ll pay. The reason? Crime, theft and uninsured motorists vary by ZIP code. So if you find yourself in a neighborhood that doesn’t play well with others, car insurance companies may consider you a high risk to insure, meaning: your rates could be higher than those of a pal who lives just around the block. And, unfortunately Richmond is no exception to the rule. From ZIP code 23226 to 94801, premiums rise by 88 percent—that’s $833.

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