You have most likely seen the captivating commercials from companies like Liberty Mutual and The General that make claims of huge savings. So drivers should just choose the one with the most memorable commercial, right?
Unfortunately, it’s not that simple as there are a lot of unknown factors such as when you were born, how well you maintain your credit, the area where you live, and what coverage limits you want, that all help calculate your car insurance rates. We know insurance is not everyone’s favorite topic, but in this article we will cover the best ways to avoid paying too much and will hopefully give you a good start to your coverage search.
One of the more important factors that help determine the amount you pay each year for auto insurance is where you keep your vehicle in Virginia Beach. More densely populated places likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims have the luxury of cheap car insurance rates.
The table below ranks the most expensive cities in Virginia for immigrants to purchase a policy in. Virginia Beach is ranked #17 having an annual price of $920 for the average policy, which is about $77 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Burke | $1,037 |
| 2 | Dale City | $1,028 |
| 3 | Centreville | $1,027 |
| 4 | Richmond | $1,015 |
| 5 | Lake Ridge | $1,012 |
| 6 | Alexandria | $1,005 |
| 7 | Norfolk | $990 |
| 8 | McLean | $985 |
| 9 | Reston | $983 |
| 10 | Arlington | $973 |
| 11 | Tuckahoe | $957 |
| 12 | Danville | $940 |
| 13 | Chesapeake | $935 |
| 14 | Hampton | $934 |
| 15 | Portsmouth | $934 |
| 16 | Ashburn | $929 |
| 17 | Virginia Beach | $920 |
| 18 | Newport News | $920 |
| 19 | Suffolk | $910 |
| 20 | Leesburg | $904 |
| 21 | Charlottesville | $895 |
| 22 | Lynchburg | $851 |
| 23 | Roanoke | $799 |
| 24 | Harrisonburg | $776 |
| 25 | Blacksburg | $767 |
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Rate quotes are comparative as the specific area where the vehicle is garaged can increase or decrease insurance rates noticeably.
The vehicle requiring insurance is probably the most important factor in finding the cheapest car insurance for immigrants. Vehicles with lower performance, good safety features, or a track record of few liability claims will cost quite a bit less to insure than fast, unsafe models. The next table presents insurance premiums for the most affordable vehicles to insure in Virginia.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $1,133 |
| Honda Accord EX-L 4-Dr Sedan | $1,230 |
| Ford Explorer XLT 2WD | $1,276 |
| Honda Civic DX 4-Dr Sedan | $1,319 |
| Ford Edge SEL 2WD | $1,329 |
| Volkswagen Jetta SE 2.5 Station Wagon | $1,327 |
| Toyota Tacoma Double Cab 4WD | $1,373 |
| Ford Focus SES 4-Dr Sedan | $1,389 |
| Ford Escape XLS 4WD | $1,392 |
| Honda Odyssey EX-L W/Navigation | $1,416 |
| Ford F-150 Lariat King Ranch 2WD | $1,443 |
| Toyota Prius | $1,448 |
| Chevrolet Silverado 2500HD LT Crew Cab 4WD | $1,443 |
| Dodge Grand Caravan SE | $1,464 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,472 |
| GMC Sierra 2500HD SLT Crew Cab 4WD | $1,513 |
| Chevrolet Impala LS | $1,515 |
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Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Price estimates do not factor in specific location information which can change prices substantially.
Based upon the table data, you can expect vehicles like the Honda CR-V, Honda Accord, and Ford Explorer are going to be a few of the most economical vehicles to insure for foreigners.
Finding good, cheap insurance is challenging, and figuring out which companies offer the most affordable insurance rates for immigrants calls for even more rate comparisons. Each company uses their own method to determine premium rates, so let’s take a look at the insurance companies with the overall cheapest rates in Virginia Beach.
Keep in mind that Virginia Beach insurance rates are calculated based on many things which can substantially decrease or increase the policy premium. Price variation is why it is so important to perform an extensive rate comparison to get the cheapest auto insurance quotes for immigrants. Auto insurance prices are impacted by many things and change frequently, so the most economical company the last time you checked may now be quite expensive.
Best Auto Insurance Prices for Migrants
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $673 |
| 2 | USAA | $688 |
| 3 | Penn National | $726 |
| 4 | Cincinnati Insurance | $741 |
| 5 | Utica National | $758 |
| 6 | Auto-Owners | $765 |
| 7 | The Hartford | $785 |
| 8 | Erie | $804 |
| 9 | Virginia Farm Bureau | $834 |
| 10 | Donegal Mutual | $860 |
| 11 | Nationwide | $935 |
| 12 | ALFA | $988 |
| 13 | Allied | $992 |
| 14 | GEICO | $1,036 |
| 15 | Chubb | $1,101 |
| 16 | National Grange Mutual | $1,104 |
| 17 | State Farm | $1,143 |
| 18 | Progressive | $1,209 |
| 19 | Electric | $1,216 |
| 20 | California Casualty | $1,239 |
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Travelers may have some of the most affordable car insurance rates in Virginia Beach at around $673 each year. This is $485 less than the average policy premium paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Utica National would also make the list of some of the most economical Virginia Beach, VA insurance companies.
As shown in the rates above, if you are a policyholder with Utica National and switched to USAA, you might realize savings of around $70. Customers with Auto-Owners could save as much as $77 a year, and The Hartford policyholders might reduce rates by $97 a year.
To find out how much you can save, click here to start your free quote or visit any of the low-priced companies below.
Be aware that those policy rates are averages across all types of drivers and the different vehicles they drive and and are not calculated with an exact vehicle garaging location for immigrants. So the insurer that fits your situation best may not even be in the top 30 companies in the list above. That is why you need to compare prices as often as possible using your own driver data and vehicle information.
Should you buy full coverage?
Reducing premiums for insurance should be important to most drivers, and one good way to save on the cost of insurance for immigrants is to buy only liability coverage. The chart below shows the comparison of premium costs with full physical damage coverage compared to only buying the minimum liability limits required in Virginia. The data is based on no accidents or driving violations, $500 deductibles, drivers are not married, and no discounts are taken into consideration.
If we average the cost for ages 20 through 70, full coverage on your policy costs an extra $1,651 per year more than just buying liability only. That is a large expense which might make you wonder when is the right time to remove full coverage. There is no definitive guideline that works best for making the decision to drop full coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
For example, let’s pretend your vehicle’s book value is $11,500 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $10,500 after paying your deductible. If you are paying over $1,050 annually for physical damage coverage, then you may need to consider dropping full coverage.
Impact of careless driving on insurance rates
In a perfect world, the best way to score the cheapest insurance rates for foreigners is to be a safe driver and avoid accidents and traffic violations. The example below demonstrates how traffic citations and accidents can drive up insurance premiums for each age group. The premium estimates are based on a single female driver, full coverage, $100 deductibles, and no policy discounts are applied.
The data in the chart shows the average cost of car insurance in Virginia per year with no accidents and a clean driving record is $1,560. Add in one speeding ticket and the average cost swells to $1,765, an increase of $205 each year. Now get two accidents along with the one speeding ticket and the 12-month cost of insurance for immigrants jumps again to an average of $3,440. That’s an increase of $1,880, or $157 per month, just for not maintaining a clean driving record!
The importance of shopping around
Virginia insurance rates are based on many factors which can substantially decrease or increase the price of your policy. Simply turning a year older, buying higher coverage limits, or having an accident can trigger changes in premium that can cause some rates to be cheaper than competitors. Not only may things change on your end, but auto insurance companies change premium rates as needed in order to maintain liquidity for claims. Higher than normal claims can result in rate increases, while lower claim levels can cause lower-priced Virginia Beach car insurance rates.
To illustrate this example, the graph below compares the cheapest car insurance in Virginia Beach, VA for a 30-year-old male driver with no violations or accidents, and good financial standing. If we estimate rates based on his current risk factors, Travelers might offer the cheapest car insurance rates in Virginia Beach at $822 a year. This is $336 less than the average price paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and The Hartford are the remainder of the best Virginia Beach, VA auto insurance companies.
In the next rate comparison, we’ll give the driver in the first chart an accident surcharge, a lower credit rating, and a blemish on his driving record. Because each company has a different process for filing rates in each state, comparing prices may now present a new list of affordable Virginia Beach car insurance companies as shown below.
Utica National now has the lowest price in Virginia Beach, VA with Auto-Owners, Virginia Farm Bureau, Donegal Mutual, and Nationwide also having competitive pricing. This example shows why it is important to shop around to get cheap auto insurance quotes for immigrants.
Car insurance prices are impacted by many risk factors and can change substantially, so the most economical option when you last compared rates may now be quite expensive.