Drivers in Richmond pay an average of $109 per month for full coverage car insurance. Rates can range from $111 to $352, depending on various factors. The table below shows average car insurance rates for different driver profiles to help better understand potential costs.
Richmond, VA, Car Insurance
Updated: January 13, 2025
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Cheapest Car Insurance in Richmond: Key Takeaways
In Richmond, American Family, Virginia Farm Bureau, Auto-Owners Insurance Co and Cincinnati Insurance are the most affordable car insurance providers for various driver profiles.
American Family offers the cheapest minimum coverage at $29 per month, while Virginia Farm Bureau has the most affordable full coverage at $76 per month.
The city's average car insurance cost is $57 per month for minimum coverage and $109 for full coverage, but these rates can change based on the driver's profile.
Car Insurance Quotes in Richmond, VA
| Young Drivers | $69 | $137 |
| Teens | No Data | $352 |
| Seniors | $59 | $111 |
| Drivers With a Speeding Ticket | $75 | $147 |
| Drivers With a DUI | $89 | $175 |
| Drivers With An Accident | $86 | $168 |
| Bad Credit | $98 | $201 |
Because insurers calculate premiums differently, you'll need to get quotes from multiple providers for the most accurate estimate.
Richmond vs. State Average
Virginia
State Average Full Coverage Rate
$1,223
Richmond, VA
City Average Full Coverage Rate
$1,307More:$84 more
This is 7% more expensive.
What Is the Average Car Insurance Rate in Richmond?
In Richmond, the average yearly cost for full coverage car insurance is $1,307, while minimum coverage is $680. These rates are higher than Virginia's averages of $1,223 and $637, respectively.
| State Average | $637 | $1,223 |
| Richmond Average | $680 | $1,307 |
Cheapest Car Insurance Companies in Richmond
Even though premiums are rising in Virginia, you can still find affordable car insurance in Richmond. American Family offers the cheapest minimum coverage at just $29 per month. For full coverage, Virginia Farm Bureau has the best rate at $76 per month.
WHY CAR INSURANCE IN RICHMOND IS EXPENSIVE
Car insurance is expensive in Richmond due to traffic density and theft rates. Richmond ranks high among cities in Virginia in terms of insurance costs. Statewide, factors like a high number of uninsured drivers, personal injury lawsuits and insurance fraud also drive up prices.
Cheap Car Insurance in Richmond
American Family is often the cheapest for minimum coverage, but the best rates vary by driver. To find the most affordable car insurance, gather quotes from multiple providers. Below is a table showcasing the cheapest rates for various driver profiles.
| American Family | Minimum Coverage | $29 |
| Virginia Farm Bureau | Full Coverage | $76 |
| Auto-Owners Insurance Co | Teens | $194 |
| Virginia Farm Bureau | Young Adults | $58 |
| Cincinnati Insurance | Seniors | $57 |
| Virginia Farm Bureau | Bad Credit | $83 |
| Virginia Farm Bureau | Drivers With a DUI | $69 |
| Auto-Owners Insurance Co | Drivers With An Accident | $63 |
| Auto-Owners Insurance Co | Drivers With a Speeding Ticket | $70 |
Car Insurance Rates in Richmond by Company
Car insurance costs vary, so check different Richmond companies for the best rates. Below are the cheapest state minimum and full coverage options.
Cheapest Car Insurance Companies for Minimum Coverage in Richmond
American Family offers the cheapest minimum coverage auto insurance at $29 per month, closely followed by Virginia Farm Bureau at $33. The table below breaks down the cheapest options.
| American Family | $29 | $27 |
| Virginia Farm Bureau | $33 | $24 |
| Travelers | $39 | $18 |
| Cincinnati Insurance | $41 | $16 |
| Auto-Owners Insurance Co | $46 | $11 |
| Erie | $52 | $5 |
| GEICO | $54 | $3 |
| Mercury | $54 | $3 |
Cheapest Car Insurance Companies for Full Coverage in Richmond
Virginia Farm Bureau offers the cheapest full coverage car insurance in Richmond at $76 monthly. Below is a list of other providers and their rates for comparison.
| American Family | $78 | $31 |
| Auto-Owners Insurance Co | $88 | $20 |
| Cincinnati Insurance | $84 | $25 |
| GEICO | $103 | $6 |
| Nationwide | $85 | $24 |
| Travelers | $77 | $32 |
| Virginia Farm Bureau | $76 | $33 |
Car Insurance Companies in Richmond
Get quotes from several local companies to find affordable car insurance in Richmond. American Family offers the lowest rate at $645 per year. Cincinnati Insurance is the best value, with a MoneyGeek score of 89. Check the table below for more options.
| Cincinnati Insurance | 89 | $752 |
| American Family | 86 | $645 |
| Erie | 84 | $990 |
| Auto-Owners Insurance Co | 81 | $807 |
| Mercury | 75 | $1,061 |
| State Farm | 70 | $1,063 |
| Travelers | 67 | $692 |
| Nationwide | 66 | $901 |
| GEICO | 63 | $940 |
| Progressive | 58 | $1,115 |
| Allstate | 56 | $1,138 |
| National General | 45 | $1,279 |
| Kemper | 39 | $1,875 |
| Virginia Farm Bureau | No Data | $652 |
Rates are for a 40-year-old driver with good credit and no driving violations.
Car Insurance Cost in Richmond by Age
Middle-aged drivers and younger seniors have the lowest car insurance rates at $1,307 per year for 40-year-olds and $1,329 annually for 65-year-olds. Below, you can compare average rates for ages 16 to 65 in the city.
| 16 | $3,349 | $-1,225 |
| 17 | $3,170 | $-1,046 |
| 18 | $2,650 | $-526 |
| 19 | $2,315 | $-192 |
| 20 | $2,337 | $-213 |
| 21 | $1,900 | $224 |
| 22 | $1,702 | $421 |
| 23 | $1,771 | $353 |
| 24 | $1,667 | $456 |
| 25 | $1,645 | $-311 |
| 40 | $1,307 | $27 |
| 65 | $1,329 | $6 |
Cheapest Car Insurance for Teens in Richmond
Nationwide offers the cheapest overall car insurance for teens in Richmond at $108 per month, saving $131 compared to the state average. The table below lists some of the most affordable providers for this age group.
| Nationwide | $108 | $131 | $228 |
| Travelers | $158 | $81 | $273 |
| State Farm | $159 | $80 | $213 |
| Auto-Owners Insurance Co | $167 | $72 | $194 |
| Allstate | $185 | $54 | $235 |
| GEICO | $239 | $-0 | $373 |
| Progressive | $258 | $-19 | $524 |
| Kemper | $639 | $-400 | $772 |
Rates reflect 16 to 19-year-old drivers with good credit and no driving violations for full coverage policies.
Best Car Insurance Rates for Young Drivers in Richmond
Virginia Farm Bureau offers the best minimum coverage rate for young drivers at $34 per month. It also has the most affordable full coverage at $82 per month. Check the table below to see which providers offer the cheapest rate for different young driver profiles.
| Virginia Farm Bureau | Minimum Coverage | $34 |
| Virginia Farm Bureau | Full Coverage | $82 |
| Virginia Farm Bureau | Bad Credit | $89 |
| Virginia Farm Bureau | Drivers With a DUI | $75 |
| Virginia Farm Bureau | Drivers With An Accident | $77 |
| Travelers | Drivers With a Speeding Ticket | $86 |
Cheapest Car Insurance Companies for Young Drivers in Richmond
Virginia Farm Bureau offers the most affordable auto insurance for young drivers at $58 monthly. Other affordable auto insurance options, like Travelers and American Family, are also worth considering. The table below shows other companies with competitive rates.
| Virginia Farm Bureau | $58 | $45 |
| Travelers | $68 | $35 |
| American Family | $73 | $30 |
| Auto-Owners Insurance Co | $84 | $19 |
| Nationwide | $93 | $10 |
| GEICO | $96 | $7 |
| Allstate | $101 | $2 |
Rates are for 25-year-old drivers with good credit and no driving violations for both minimum and full coverage.
Cheapest Car Insurance Companies for Seniors in Richmond
Cincinnati Insurance offers the cheapest monthly premium for seniors at $57 for both minimum and full coverage. Travelers follows closely at $61. The table below shows the other top car insurance provider options for seniors in Richmond.
| Cincinnati Insurance | $57 | $27 |
| Travelers | $61 | $24 |
| Virginia Farm Bureau | $62 | $23 |
| American Family | $64 | $21 |
| Auto-Owners Insurance Co | $68 | $17 |
| Nationwide | $72 | $13 |
| Mercury | $77 | $7 |
| State Farm | $83 | $2 |
| Erie | $83 | $1 |
Rates are for 65-year-old drivers with good credit and no driving violations for both minimum and full coverage.
Best Car Insurance Rates for Seniors in Richmond
American Family and Cincinnati Insurance offer the lowest rates for minimum and full coverage, but prices can change based on your situation. Below is a table showing the cheapest providers for different driver and coverage profiles that might suit you better.
| American Family | Minimum Coverage | $36 |
| Cincinnati Insurance | Full Coverage | $76 |
| Virginia Farm Bureau | Bad Credit | $95 |
| Virginia Farm Bureau | Drivers With a DUI | $79 |
| Auto-Owners Insurance Co | Drivers With An Accident | $68 |
| Cincinnati Insurance | Drivers With a Speeding Ticket | $67 |
Car Insurance Cost for High-Risk Drivers in Richmond
In Richmond, high-risk driver profiles show that minimum coverage costs around $1,003 annually, while full coverage is about $1,959. These rates are lower than the state average of $936 and $1,829, respectively. Drivers with bad credit and DUIs pay the most for car insurance, while accidents and speeding tickets have a smaller impact on rates.
| State Average | $936 | $1,829 |
| Richmond Average | $1,003 | $1,959 |
DRIVING OFFENSES ONLY AFFECT RATES FOR A LIMITED TIME
Insurers in Richmond typically consider minor driving incidents, like a not-at-fault accident or speeding ticket, for three to five years. For more serious offenses, such as a DUI, insurers may take them into account for a longer period, often leading to the need to file an SR-22 or FR-44 to meet your state's minimum coverage requirements.
Cheapest Auto Insurance Rates With a DUI in Richmond
Virginia Farm Bureau offers the cheapest minimum coverage for drivers with a DUI in Richmond at $504 per year and the most affordable full coverage at about $1,164. Check the table below for more low-cost coverage options.
| Virginia Farm Bureau | $42 | $97 |
| Travelers | $62 | $124 |
| State Farm | $63 | $135 |
| Mercury | $59 | $161 |
| American Family | $59 | $163 |
Rates are for a 40-year-old driver with good credit and a DUI.
Cheapest Auto Insurance Rates With an Accident in Richmond
American Family, Auto-Owners Insurance Co and Virginia Farm Bureau offer the lowest rates for drivers with an at-fault accident record in Richmond. Check the table below to discover the cheapest auto insurance after an at-fault accident.
| Auto-Owners Insurance Co | $43 | $82 |
| Virginia Farm Bureau | $47 | $101 |
| American Family | $40 | $107 |
| Travelers | $55 | $113 |
| Cincinnati Insurance | $55 | $115 |
Rates are for a 40-year-old driver with good credit and an at-fault accident.
Cheapest Auto Insurance Rates With a Speeding Ticket in Richmond
American Family is the cheapest car insurance provider for drivers with speeding tickets in Richmond, with minimum coverage at $41 and full coverage at $112 monthly. Check the table below to see how other providers charge drivers with this violation.
| Auto-Owners Insurance Co | $48 | $92 |
| Cincinnati Insurance | $47 | $98 |
| Travelers | $52 | $108 |
| American Family | $41 | $112 |
| Virginia Farm Bureau | $49 | $115 |
Rates are for a 40-year-old driver with good credit and a speeding ticket.
Cheapest Car Insurance for Bad Credit in Richmond
Virginia Farm Bureau offers the most affordable rates for drivers with bad credit in Richmond, with minimum coverage at $50 and full coverage at $117 monthly. See the table below for other affordable options.
| Virginia Farm Bureau | $50 | $117 |
| Travelers | $72 | $139 |
| Cincinnati Insurance | $75 | $153 |
| GEICO | $86 | $171 |
| Mercury | $63 | $179 |
Rates are for a 40-year-old driver with bad credit and no driving violations.
Minimum Car Insurance Requirements in Richmond, VA
In the Old Dominion, each city's car insurance minimums are set by statewide mandates. Here's what your policy needs at a minimum:
- $25,000 for bodily injury liability per person
- $50,000 for bodily injury liability per accident
- $20,000 for property damage liability per accident
- $25,000 uninsured motorist bodily injury per person
- $50,000 uninsured motorist bodily injury per accident
- $20,000 uninsured/Underinsured property damage coverage
These minimums ensure that you can cover basic damages and injuries if you're involved in an accident. For instance, if you cause an accident, the minimum coverage will pay up to $25,000 per injured person, helping you avoid out-of-pocket expenses.
Cheap Car Insurance in Richmond: Bottom Line
American Family has the cheapest minimum coverage at $29, while Virginia Farm Bureau offers full coverage at $76. Drivers of all ages and credit histories can find affordable plans tailored to their needs. Make sure your policy includes Virginia's required coverage: bodily injury, property damage and uninsured motorist protection. By comparing providers, you can secure rates that fit your budget and comply with Virginia's law.
Richmond Auto Insurance: FAQ
This section offers quick answers to your questions about finding affordable and quality car insurance in Richmond. Discover options for state minimum and comprehensive policies that fit your needs and budget.
What is the cheapest car insurance company in Richmond, VA?
The cheapest car insurance provider in Richmond is American Family, offering plans at around $29 per month.
What is the best car insurance company in Richmond, VA?
Cincinnati Insurance is the best car insurance company in Richmond. Its minimum coverage premium is $752 annually.
How much does car insurance cost on average in Richmond, VA?
The monthly cost for minimum coverage auto insurance in Richmond ranges from $59 to $98, depending on the driver's profile.
Best Cheap Car Insurance in Richmond: Our Methodology
MoneyGeek analyzed Richmond auto insurance prices using data from the Virginia Department of Insurance and Financial Services and Quadrant Information Services.
Richmond Driver Profile
To assess the best and most affordable auto insurance options for Richmond residents, MoneyGeek used the following sample driver profile:
- 40-year-old male
- Clean driving history
- 2012 Toyota Camry LE
- 12,000 miles driven per year
By altering variables such as age, driving records and military status, MoneyGeek also found the top insurers for different types of drivers.
Coverage Levels in Richmond
In assessing the car insurance quotes for Richmond, we gathered data for both minimum and full coverage policies, ensuring each insurer conformed to Virginia's mandated liability insurance parameters:
The minimum coverage requirements in Virginia are:
- $25,000 for bodily injury liability per person
- $50,000 for bodily injury liability per accident
- $20,000 for property damage liability per accident
- $25,000 uninsured motorist bodily injury per person
- $50,000 uninsured motorist bodily injury per accident
- $20,000 uninsured/Underinsured property damage coverage
To assess rates for full coverage policies, MoneyGeek upped the coverage amounts to these limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability
- Comprehensive and collision coverage with a deductible of $1,000
MoneyGeek’s Scoring System
MoneyGeek scored insurers on a scale of zero to 100, factoring in customer satisfaction, cost-effectiveness, claims management, coverage options and financial stability.
Insurers received scores as indicated below, with a total possible score of 100 points:
- General customer satisfaction (up to 35 points)
- Affordability (up to 30 points)
- Claims experience (up to 20 points)
- Essential coverages (up to 10 points)
- Financial stability (up to five points)
MoneyGeek’s Sources
To gauge rates and assess the best service experiences among Virginia providers, MoneyGeek utilized six sources:
- Quadrant Information Services provided actual policy quotes in Richmond
- J.D. Power's studies and the NAIC index contributed to the assessment of customer service
- Claims experience metrics came from J.D. Power and the CRASH Network’s report card
- AM Best and Demotech offered financial stability insights through their ratings
MoneyGeek gathered 50,284 quotes for the average driver of various ages who drives a Toyota Camry with a clean record, barring specific exceptions. Our study evaluated 14 insurance companies in Richmond.
For more details on calculating these ratings, visit MoneyGeek's methodology.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a 5-time Jeopardy champion!
He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.