Who Has the Cheapest Virginia Beach Auto Insurance for Seniors?

For senior citizens, one of the largest components that are used to help calculate insurance cost is where you keep your car. More densely populated places are more likely to pay higher prices, whereas areas with less congestion have the enjoyment of a little cheaper coverage.

The table below rates the most costly cities in Virginia for seniors to buy an auto insurance policy in. Virginia Beach ranks #13 with an annual premium of $948 for car insurance, which is about $79 each month.

Rate quotes are approximated as the garaging address in Virginia Beach can decrease or increase coverage prices considerably.

The vehicle model you are buying coverage for is one of the main factors when comparison shopping for the lowest-priced insurance for seniors. Vehicles with more horsepower, a lack of modern safety features, or a history of substantial liability claims will cost significantly more to insure than more modest models. The next list features insurance prices for a handful of the most cost-effective vehicles to insure in Virginia.

Cost estimates assume married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Prices do not factor in specific location information which can alter rates greatly.

Based upon these rates, makes and models like the Honda Accord, Hyundai Elantra, Honda CR-V, and Ford Escape are going to be a few of the more affordable vehicles to insure for senior citizens.

Deciphering which company quotes the lowest-priced insurance rates for seniors takes a little more sweat than just quoting one company’s rates.

Each company has a proprietary formula for determining rates, so we’ll take a look at the lowest cost insurance companies in Virginia Beach, VA. It’s important that you understand Virginia insurance rates are impacted by many factors that can increase the price you pay for coverage. Simply improving your credit, moving across town, or getting a DUI may cause policy rate changes that can cause some rates to be more affordable than competitors.

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Travelers may have some of the best car insurance rates in Virginia Beach at around $673 annually. This is $485 less than the average premium paid by Virginia drivers of $1,158. USAA, Cincinnati Insurance, Penn National, and Utica National also qualify as some of the best Virginia Beach, VA insurance companies.

As the rates illustrate above, if you currently have coverage with Penn National and switched to USAA, you may see a yearly savings of roughly $60. Policyholders with Utica National might save as much as $70 a year, and Erie insureds might cut rates by $92 a year.

To find out how much you can save, click here to begin a quote or quote rates from the companies below.

Remember that these policy rates are averages for all types of insureds and vehicles and and are not figured with a specific location for seniors. So the car insurance company that fits you best may not even be in the top 30 companies in the list above. That underscores the importance of why you need to get rate quotes from many companies using your own driver information and specific vehicle type.

Full coverage versus liability-only in Virginia Beach

Saving money on insurance is the goal of most drivers, and one way to lower the cost of insurance for seniors is to not buy full coverage. The example below illustrates the difference between insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Virginia. The prices are based on no accidents, no driving violations, $100 deductibles, single status, and no additional discounts are factored in.

If averaged out across all ages, physical damage insurance costs $1,981 per year over and above liability only. That touches on the question when is it safe to stop buying full coverage. There is no specific rule to delete physical damage coverage, but there is a general school of thought. If the yearly cost of full coverage is 10% or more of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.

For example, let’s pretend your vehicle’s claim settlement value is $5,500 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $4,500 after the policy deductible has been paid. If you are paying over $450 annually for physical damage coverage, then it could be time to drop full coverage.

There are some circumstances where buying only liability insurance is not advised. If you still have a loan on your vehicle, you have to maintain full coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should keep full coverage in place.

Selecting the best auto insurance company is hard considering how many choices there are in Virginia Beach. The information in the lists below could help you decide which companies you want to consider when insurance shopping for seniors.

These rankings include companies that insure vehicles across America, so smaller companies are not factored into the list. If you would like to check rates from these and other top-rated companies, just click here.

Top 10 Major Auto Insurance Companies in Virginia Beach Ranked by Value

1. Mercury Insurance
2. Travelers
3. American Family
4. AAA Insurance
5. Safeco Insurance
6. Progressive
7. The Hartford
8. Erie Insurance
9. Esurance
10. The General

Top 10 Major Auto Insurance Companies in Virginia Beach Ranked by Customer Satisfaction

1. USAA – 91%
2. AAA Insurance – 90%
3. Esurance – 90%
4. Mercury Insurance – 89%
5. Nationwide – 89%
6. Travelers – 88%
7. Progressive – 88%
8. Safeco Insurance – 88%
9. State Farm – 88%
10. Allstate – 88%

How to find budget-friendly insurance for seniors

It’s not impossible to find cheaper rates, and here are a few penny-pinching suggestions that can help Virginia Beach drivers find cheap coverage.

• Save money by insuring your home and auto with the same company
• Do not pay for full coverage on older vehicles
• Better credit rating means better rates
• Buy safe vehicles
• Prevent rate increases by staying accident-free
• Shop around for cheaper rates regularly

The last idea is especially necessary, as was noted in the article above. Car insurance prices adjust often, so drivers shouldn’t hesitate to buy from a different company if a cheaper rate is available.

Loyalty to a specific company is fine, but it isn’t a good idea if that faithfulness ends up costing you a wad of cash every year. It only takes a couple minutes to compare rates to find cheaper insurance for seniors in Virginia Beach.

The insurance agents in Virginia Beach listed below can probably answer your questions and help you decide which insurance coverage you need, since many people would rather get some professional advice when shopping for cheaper insurance for senior citizens. It’s not always easy to find the best coverage yourself, and a licensed agent can provide satisfaction knowing you have sufficient coverage for your assets. To find an agent using an interactive map, click the link after the list.

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