The vehicle model on the policy is one of the largest factors that determines whether or not you can buy the lowest-priced insurance for drivers requiring a SR22. Vehicles with high performance, poor crash test ratings, or a track record of large liability claims will cost substantially more to insure than more economical and safe models.
The data below outlines auto insurance premiums for some of the most cost-effective automobiles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord EX-L 4-Dr Sedan | $4,183 |
| Ford Escape XLS 2WD | $4,212 |
| Toyota Prius | $4,228 |
| Honda CR-V EX-L 2WD | $4,264 |
| Hyundai Elantra SE Touring Station Wagon | $4,380 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $4,397 |
| Ford Focus SE 4-Dr Sedan | $4,606 |
| Ford Edge Limited 2WD | $4,615 |
| Dodge Grand Caravan Hero | $4,651 |
| Toyota Tacoma Double Cab 4WD | $4,696 |
| Honda Odyssey LX | $4,708 |
| Ford Explorer XLT 4WD | $4,760 |
| Volkswagen Jetta 2.0T Station Wagon | $4,774 |
| Toyota Camry LE | $4,872 |
| Jeep Grand Cherokee Laredo 2WD | $4,877 |
| Chevrolet Equinox LTZ 2WD | $4,907 |
| Ford Fusion Sport 4-Dr Sedan | $4,912 |
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Table data represents single female driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, multi-vehicle, and homeowner. Rates do not factor in specific garaging location which can revise rates substantially.
Looking at the numbers, we can expect vehicles like the Honda Accord, Ford Escape, Toyota Prius, Honda CR-V, and Hyundai Elantra are a few of the cheapest vehicles to insure for high risk drivers. The price for car insurance will trend higher because of the fact that there is more liability exposure for drivers requiring a SR22, but generally speaking those particular models will most likely have the cheapest car insurance rates possible.
For high risk drivers, one of the big considerations that help determine insurance cost is where you keep your vehicle. Regions with larger populations or more claims tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates have the benefit of cheaper car insurance.
The illustration below ranks the highest-priced places in Virginia for drivers requiring a SR22 to buy car insurance in. Virginia Beach comes in at #13 with a yearly cost of $948 for the average insurance policy, which is about $79 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Burke | $1,068 |
| 2 | McLean | $1,025 |
| 3 | Richmond | $1,015 |
| 4 | Alexandria | $1,005 |
| 5 | Arlington | $1,003 |
| 6 | Lake Ridge | $1,002 |
| 7 | Dale City | $998 |
| 8 | Centreville | $997 |
| 9 | Portsmouth | $972 |
| 10 | Hampton | $972 |
| 11 | Norfolk | $970 |
| 12 | Reston | $963 |
| 13 | Virginia Beach | $948 |
| 14 | Suffolk | $937 |
| 15 | Newport News | $930 |
| 16 | Tuckahoe | $929 |
| 17 | Leesburg | $922 |
| 18 | Danville | $922 |
| 19 | Chesapeake | $908 |
| 20 | Ashburn | $893 |
| 21 | Charlottesville | $886 |
| 22 | Lynchburg | $851 |
| 23 | Harrisonburg | $808 |
| 24 | Roanoke | $807 |
| 25 | Blacksburg | $791 |
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Rate information is approximated as the specific Virginia Beach residence address can increase or decrease coverage prices noticeably.
Types of discounts on Virginia Beach auto insurance
Insurers that offer quotes for drivers requiring a SR22 could also offer policy discounts that may potentially lower prices by 40% or more if you are eligible to receive them. A few popular companies and a selection of discounts can be found below.
- GEICO has discounts for military active duty, anti-lock brakes, good student, federal employee, membership and employees, anti-theft, and driver training.
- Travelers offers premium reductions for multi-car, driver training, early quote, student away at school, hybrid/electric vehicle, save driver, and good student.
- Nationwide may offer discounts for multi-policy, Farm Bureau membership, accident-free, business or organization, defensive driving, family plan, and easy pay.
- Farmers Insurance may have discounts that include early shopping, distant student, bundle discounts, homeowner, business and professional, youthful driver, and switch companies.
- Esurance may include discounts for homeowner, claim free, paid-in-full, safety device, online quote, and emergency road assistance.
- State Farm policyholders can earn discounts including good student, good driver, anti-theft, accident-free, multiple autos, and driver’s education.
- Progressive discounts include multi-policy, online signing, multi-vehicle, good student, and continuous coverage.
- Mercury Insurance includes discounts for accident-free, good student, low natural disaster claims, annual mileage, and ease of repair.
The information below visualizes the comparison of annual premium costs with and without discounts. The premiums assume a female driver, two traffic citations and one accident, Virginia state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with anti-theft, passive restraint, multiple vehicle, marriage, multiple policy, and vehicle safety discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on auto insurance for drivers requiring a SR22 is 28% or $603.
The diagram below demonstrates how deductibles can change insurance prices when searching for cheap insurance for drivers requiring a SR22. The prices are based on a single female driver, full coverage, and no discounts are factored in.
In the chart above, a 30-year-old driver could lower their car insurance rates by $316 a year by changing from a $100 deductible to a $500 deductible, or save $474 by choosing a $1,000 deductible. Younger drivers, like the age 20 example, could drop their prices $708 every year by choosing a larger deductible amount. If you do raise deductibles, it is necessary to have plenty of money set aside to satisfy the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Why you should be shopping around
Virginia Beach, VA auto insurance rates are calculated based on many things which can substantially decrease or increase your annual premium. Simply having a birthday, adding a teenager to your policy, or getting a ticket for careless driving may prompt premium changes resulting in some companies being cheaper than competitors. Additionally, car insurance companies file new Virginia car insurance rates every year or even multiple times each year in order to offset underwriting gains or losses. Significantly higher claims may cause more expensive premiums, while a better claims history may result in lower-cost Virginia Beach car insurance rates.
The chart below demonstrates which company has the cheapest car insurance in Virginia Beach, VA for a 45-year-old female driver with a clean driving record, no accidents, and a decent credit rating. If we estimate rates based on her current risk factors, Travelers may offer the most affordable car insurance rates in Virginia Beach at $782 a year. This is $376 less than the average policy premium paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Utica National also make the list of the best Virginia Beach, VA auto insurance companies.
Now we will pretend the driver in the first chart some claims, a little lower credit rating, and a traffic ticket or two. Since each company has a unique formula to set their prices, comparing quotes may now show a different list of affordable companies as shown below.
Virginia Farm Bureau now has the best auto insurance rate in Virginia Beach, VA with The Hartford, Erie, Donegal Mutual, and Nationwide also having competitive pricing. This illustrates why it is so important to compare as many rates as possible to get the best auto insurance quotes for drivers requiring a SR22.
Insurance rates are impacted by many different factors and can decrease or increase without notice, so the best option the last time you compared rates may now be quite expensive.