Auto insurance rates in Virginia are substantially lower than the national average of $1,440 for 2011 as the statewide average is only $1,065.
Annual Changes
The average annual premium for 2011 fell 18% compared to 2010, and this reduction followed an earlier drop of 9% between 2009 and 2010. It is not possible to know whether prices will rise or fall in the future. Therefore, monitoring rates and obtaining frequent quotes through this site is the best way for drivers in Virginia to ensure that they are paying the lowest possible rates for auto insurance. Individual insurers in Virginia set and decide their own rates according to their own criteria, as rates are not fixed in any way.
Seasonal Changes
Auto insurance rates in Virginia remained relatively steady until August 2010, when they fell sharply before falling again to a new low that was basically maintained into 2011. This shows that changes in rates in Virginia can occur quite rapidly, and keeping track of rates is the best way for drivers to make sure they are paying the lowest premiums.
Insurance Requirements
The minimum insurance requirements in Virginia include personal liability coverage of $25,000 per person and a $50,000 limit per accident, while the minimum property damage liability coverage is set at $20,000. There is also a mandatory uninsured and underinsured motorist coverage requirement with the exact same limits as those for standard coverage. Virginia is a tort state, where one party is judged responsible and liable for all damages that result from an accident. Higher coverage limits are therefore highly recommended to preserve assets in the event of a lawsuit.
Advice for Getting the Best Deals
Reputable national and regional insurers compete to offer Virginia drivers auto insurance coverage. Since each company uses different methods of determining rates for individual drivers, no one company consistently offers the lowest prices. Obtaining multiple quotes from reliable insurance companies that are rated A or higher by A. M. Best is highly recommended. The J. D. Power consumer satisfaction ratings for each company also provide vital information.
Obtaining multiple quotes and monitoring prices at regular intervals by using this site helps Virginia drivers find the lowest rates for car insurance.
