It’s impossible to miss the catchy advertisements from auto insurance companies like Liberty Mutual and Progressive that claim big savings. So drivers just need to select the one with the best jingle, right?
Regrettably, it’s not quite that easy, as there are a whole bunch of unknown factors such as if you have a spouse, where you live, and whether you just want liability only, that all help calculate your car insurance rates. The information below will cover the best ways to find cheap auto insurance and will hopefully give you a solid foundation to find cheaper car insurance.
Finding out which company has the cheapest car insurance rates for high mileage drivers will involve a tad more effort than just getting one or two price quotes. Every car insurance company has a proprietary formula to set policy rates, so we’ll go over the most budget-friendly car insurance companies in Virginia Beach, VA.
It’s a good idea to know that Virginia Beach, VA car insurance rates are impacted by many things that will increase or decrease the policy premium. Simply improving your credit, moving to a different location, or getting a DUI may prompt premium changes that can make some companies more affordable than competitors.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $653 |
| 2 | USAA | $695 |
| 3 | Penn National | $726 |
| 4 | Utica National | $758 |
| 5 | Auto-Owners | $758 |
| 6 | Cincinnati Insurance | $763 |
| 7 | The Hartford | $801 |
| 8 | Erie | $804 |
| 9 | Virginia Farm Bureau | $834 |
| 10 | Donegal Mutual | $886 |
| 11 | Nationwide | $963 |
| 12 | Allied | $1,022 |
| 13 | ALFA | $1,028 |
| 14 | GEICO | $1,036 |
| 15 | National Grange Mutual | $1,093 |
| 16 | State Farm | $1,099 |
| 17 | Chubb | $1,112 |
| 18 | Electric | $1,192 |
| 19 | Progressive | $1,209 |
| 20 | Amica | $1,229 |
| Find Your Rate Go | ||
Travelers normally has some of the best car insurance rates in Virginia Beach at around $653 per year. This is $505 less than the average rate paid by Virginia drivers of $1,158. USAA, Penn National, Utica National, and Auto-Owners also are some of the cheaper Virginia Beach, VA insurance companies.
As the example above demonstrates, if you buy coverage from Penn National and switched to Travelers, you could realize annual savings of approximately $73. Drivers with Utica National might save as much as $105 a year, and Auto-Owners customers might lower prices by $105 a year.
Be aware that those premium estimates are averages across all drivers and vehicles in Virginia and and are not figured with an exact zip code location for high mileage drivers. So the company that has the cheapest rates for you may not even be in the top 30 companies shown above. That illustrates why you need to quote rates from many companies using your own driver information and specific vehicle type.
The vehicle you are insuring is one of the largest considerations that determines whether or not you can buy low-cost auto insurance for high mileage drivers. Vehicles with average performance, an excellent safety record, or a low likelihood of liability claims will cost quite a bit less to insure than high performance models.
The next list showcases insurance costs for a handful of the more affordable vehicles to buy insurance for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $1,178 |
| Honda Odyssey LX | $1,293 |
| Toyota Prius | $1,305 |
| Honda CR-V EX-L 4WD | $1,317 |
| Honda Accord LX-P 4-Dr Sedan | $1,324 |
| Ford F-150 STX Super Cab 2WD | $1,410 |
| Toyota Tacoma 4WD | $1,442 |
| Kia Optima LX | $1,490 |
| Ford Edge SEL 2WD | $1,493 |
| Ford Explorer XLT 2WD | $1,499 |
| Chevrolet Silverado 2500HD LT Crew Cab 4WD | $1,495 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $1,502 |
| Jeep Grand Cherokee Laredo 4WD | $1,525 |
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Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Information does not factor in zip code location which can affect insurance rates greatly.
Based upon these rates, models like the Ford Escape, Honda Odyssey, Toyota Prius, Honda CR-V, and Honda Accord will be a few of the cheapest vehicles to insure for high mileage drivers.
Tickets and at-fault accidents raise rates
The common sense way to snag good car insurance premiums in Virginia for high mileage drivers is to be a good driver and avoid accidents and traffic citations. The example below illustrates how traffic citations and at-fault accidents can drive up premium costs for each different age group. The data is based on a single male driver, full coverage, $250 deductibles, and no discounts are taken into consideration.
The chart shows that the average cost of car insurance per year with no violations or accidents is $1,358. Add in one speeding ticket and the average cost hikes up to $1,529, an increase of $171 each year. Now throw in one accident along with the one speeding ticket and the yearly cost of car insurance for high mileage drivers goes up to an average of $2,006. That’s an increase of $648, or $54 per month, just for not being attentive to the road!
Get discounts on Virginia Beach insurance rates
Auto insurance companies that provide coverage for high mileage drivers may provide policy discounts that could reduce prices by 30% or more if you qualify. The best car insurance companies and some of the premium reductions they offer include:
- State Farm offers discounts including defensive driving training, anti-theft, safe vehicle, multiple policy, good driver, and Drive Safe & Save.
- American Family may have discounts that include Steer into Savings, good student, multi-vehicle, accident-free, and TimeAway discount.
- GEICO may offer discounts for defensive driver, emergency military deployment, driver training, multi-policy, air bags, and military active duty.
- 21st Century has discounts for theft prevention, air bags, defensive driver, student driver, good student, and early bird.
- Progressive may include discounts for multi-policy, good student, continuous coverage, multi-vehicle, online signing, and online quote discount.
The example below shows the comparison of insurance prices with and without discounts applied to the premium. The rate quotes are based on a male driver, no driving violations, no at-fault accidents, Virginia state minimum liability limits, comp and collision included, and $500 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second shows the rates with vehicle safety, multiple policy, accident-free, safe-driver, homeowner, and defensive driving course discounts applied. When these discounts are applied to the policy premium, the average savings per year on car insurance for high mileage drivers is 28% or $367.
Don’t make the mistake of not shopping around
Virginia Beach car insurance rates are determined by lots of factors that can increase your annual premium. Improving your credit rating, moving to a new city, or having a fender bender can trigger rate changes that can cause some rates to be cheaper than before. Also, car insurance companies modify rates as needed in order to remain profitable. A period of increased losses can result in price increases, while a better claims history may result in lower-cost Virginia Beach car insurance rates.
The graph below shows which company has the cheapest car insurance in Virginia Beach, VA for a 45-year-old female driver with no violations or accidents, and good credit. If we estimate rates based on her personal profile, Travelers offers the lowest car insurance rates in Virginia Beach at $822 per year. This is $336 less than the average rate paid by Virginia drivers of $1,158. USAA, Penn National, Cincinnati Insurance, and Auto-Owners are the remainder of the best Virginia Beach, VA auto insurance companies.
In this next rate comparison, we will give the driver from the first rate comparison a chargeable accident, a lower credit rating, and an imperfect driving record. Since each auto insurer has a proprietary formula to establish rates, getting updated rate quotes may now present a different ranking of the cheapest companies as shown below.
Utica National now has the lowest price on auto insurance in Virginia Beach with Erie, Virginia Farm Bureau, Donegal Mutual, and Nationwide now being in the top five. This illustrates why it is crucial to compare as many rates as possible to find the cheapest insurance rates for high mileage drivers.
Prices are impacted by many factors and can change substantially, so the most economical company the last time you checked may now be quite expensive.