The words “affordable” and “insurance” probably shouldn’t be used in the same sentence, specifically when comparison shopping for the lowest insurance prices for nurses. In an attempt to save some money, let’s learn about some of the things that help determine insurance premiums, and figure out some ideas to lower the cost of your next policy.
Deciding which companies have the lowest-priced insurance rates for nurses will take a little more work than just getting one or two price quotes.
Each company has their own formula to determine premium rates, so to begin we’ll rank the insurance companies with the overall best prices in Virginia Beach, VA.
Best Car Insurance Prices for Health Occupations
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $653 |
| 2 | USAA | $688 |
| 3 | Cincinnati Insurance | $733 |
| 4 | Penn National | $740 |
| 5 | Auto-Owners | $765 |
| 6 | Utica National | $788 |
| 7 | The Hartford | $801 |
| 8 | Virginia Farm Bureau | $802 |
| 9 | Erie | $812 |
| 10 | Donegal Mutual | $878 |
| 11 | Nationwide | $953 |
| 12 | Allied | $992 |
| 13 | GEICO | $1,006 |
| 14 | ALFA | $1,028 |
| 15 | National Grange Mutual | $1,093 |
| 16 | State Farm | $1,110 |
| 17 | Chubb | $1,134 |
| 18 | Progressive | $1,222 |
| 19 | Electric | $1,228 |
| 20 | Amica | $1,267 |
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Travelers offers some of the lowest car insurance rates in Virginia Beach at around $653 a year. USAA, Cincinnati Insurance, Penn National, and Auto-Owners also qualify as some of the cheapest Virginia Beach, VA insurance companies.
In the above example, if you currently have coverage with Cincinnati Insurance and switched to Travelers, you could see annual savings of around $80. Virginia drivers with Penn National may save as much as $87 a year, and Auto-Owners policyholders might reduce rates by $112 a year.
To find the cheapest rates for your vehicle, click here or visit any of the low-priced companies below.
Remember that these premiums are averages across all insureds and vehicles and do not take into consideration a vehicle location for nurses. So the car insurance company that fits your needs best may not even be in the top 30 companies shown above. That emphasizes why you need to compare as many prices as possible using your own driver information and specific vehicle type.
The type of vehicle needing coverage is probably the most important factor when comparison shopping for affordable insurance for nurses. Vehicles with higher performance characteristics, a lack of safety features, or a history of substantial liability claims will cost substantially more to insure than more modest models. The data below showcases auto insurance prices for a number of the most budget-friendly vehicles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $1,066 |
| Honda CR-V LX 4WD | $1,074 |
| Ford Escape XLT 2WD | $1,226 |
| Chevrolet Equinox LS 2WD | $1,266 |
| Toyota RAV4 2WD | $1,274 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,308 |
| Honda Odyssey EX-L W/Rear Entertainment | $1,334 |
| Toyota Corolla LE | $1,341 |
| Jeep Grand Cherokee SRT-8 4WD | $1,357 |
| Ford Fusion SEL 4-Dr Sedan | $1,365 |
| Nissan Rogue SL 2WD | $1,359 |
| Ford Focus SE 4-Dr Sedan | $1,423 |
| Chevrolet Silverado 2500HD LT Crew Cab Diesel 4WD | $1,446 |
| Kia Optima SX | $1,451 |
| Nissan Altima 2.5 S 2-Dr Coupe | $1,461 |
| Compare Cheap Rates Go | |
Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Rate information does not factor in garaging location in Virginia Beach, VA which can modify insurance rates greatly.
Based upon these rates, we can infer that vehicles like the Honda Accord, Honda CR-V, Ford Escape, and Chevrolet Equinox are going to be the cheaper vehicles to insure for health professionals.
For health professionals, one of the more important criteria that help determine auto insurance rates is where you keep your vehicle in Virginia Beach. Areas with high crime rates or more dense population tend to have more expensive auto insurance rates, whereas areas with less congestion profit from lower rates.
The next table sorts the most expensive places in Virginia for nurses in which to purchase auto insurance. Virginia Beach shows up at #20 with a yearly premium of $910 for the average policyholder, which is around $76 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Burke | $1,068 |
| 2 | Lake Ridge | $1,042 |
| 3 | Centreville | $1,027 |
| 4 | Dale City | $1,008 |
| 5 | Alexandria | $1,005 |
| 6 | McLean | $995 |
| 7 | Reston | $992 |
| 8 | Arlington | $983 |
| 9 | Richmond | $975 |
| 10 | Norfolk | $970 |
| 11 | Portsmouth | $963 |
| 12 | Suffolk | $937 |
| 13 | Hampton | $934 |
| 14 | Tuckahoe | $929 |
| 15 | Chesapeake | $926 |
| 16 | Newport News | $920 |
| 17 | Ashburn | $920 |
| 18 | Charlottesville | $913 |
| 19 | Danville | $912 |
| 20 | Virginia Beach | $910 |
| 21 | Leesburg | $904 |
| 22 | Lynchburg | $877 |
| 23 | Roanoke | $823 |
| 24 | Blacksburg | $799 |
| 25 | Harrisonburg | $776 |
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Annual rates are comparative as zip code location can change coverage rates significantly.
Comparison of full coverage and liability-only policies
Reducing the cost of insurance should be important to most people, and one of the easiest ways to reduce the cost of insurance for nurses is to only buy liability insurance. The example below visualizes the comparison of insurance rates with full physical damage coverage and with liability coverage only. The data is based on a clean driving record, no claims, $100 deductibles, marital status is single, and no additional discounts are factored in.
If we average all the age groups together, comprehensive and collision coverage on your policy costs $1,648 per year more than just buying liability only. That may make you wonder if full coverage is worth the money. There is no clear-cut rule to drop comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let’s assume your vehicle’s replacement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $6,000 after you pay the deductible. If premium cost is more than $600 annually for full coverage, then you may want to consider only buying liability coverage.
Safe drivers Virginia Beach pay cheaper rates
The easiest way to receive low insurance prices in Virginia Beach for health professionals is to drive safe and avoid accidents and traffic violations. The information below demonstrates how speeding tickets and at-fault collisions drive up insurance prices for different age groups. The premium estimates are based on a married male driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
The chart shows that the average cost of an auto insurance policy in Virginia per year with no accidents and a clean driving record is $926. Get one speeding ticket and the average cost surges to $1,065, an increase of $138 each year. Now get one accident along with the one speeding ticket and the yearly cost of insurance for nurses goes up to an average of $1,447. That’s an increase of $521, or $43 per month, just for not paying attention while driving!
The importance of shopping around
Virginia Beach insurance rates are based on many factors that will increase or decrease the policy premium. Simply having a birthday, moving to a new city, or getting a few speeding tickets can trigger changes in premium resulting in some rates now being cheaper in comparison to the competition. Additionally, car insurance companies change the rates they charge in Virginia at least once a year to adjust for unexpected claims or profits. Higher than usual claims can cause a rate increase, while profitable underwriting may produce cheaper Virginia Beach car insurance rates.
To illustrate this example, the bar chart below shows the company with the cheapest car insurance in Virginia Beach, VA for a 35-year-old female driver with a good driving record, no prior claims, and a high credit rating. If we estimate prices based on her current situation, Travelers offers the lowest car insurance rates in Virginia Beach at $797 a year. This is $361 less than the average rate paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Utica National also make the list of the top five cheapest Virginia Beach, VA auto insurance companies.
In the next rate comparison, we’ll give the driver from the above example a couple of claims, a lower credit score, and a traffic citation. Due to the fact that each insurance company has a proprietary formula for determining rates in each state, comparing insurance quotes may now present a different list of companies as shown below.
Virginia Farm Bureau now has the best price on car insurance in Virginia Beach with Erie, The Hartford, Donegal Mutual, and Nationwide also being competitive. This shows why it is critical to compare lots of rates when trying to find the most economical insurance rates for nurses. Car insurance prices can be altered by many different factors and can decrease or increase without notice, so the cheapest option three years ago may now be one of the more expensive options.