Best cheap car insurance in Richmond for 2025

The best car insurance companies in Richmond

To help make your auto insurance decisions easier, we've compiled reviews of the best cheap car insurance companies in Richmond below. We researched average premiums, analyzed third-party rankings for customer service and financial strength and assessed coverage options and available discounts in Richmond.

When looking for the best car insurance companies in Richmond, it's important to consider the pros and cons of each. Thankfully, Bankrate has assigned each company a Bankrate Score, which can help to rank these carriers based on numerous variables, including financial strength, customer satisfaction, coverage options, availability and more. The companies below earned the highest Bankrate Scores of those carriers available in Richmond.

The cheapest car insurance companies in Richmond

When looking for the cheapest car insurance in Richmond, you may face slightly higher average rates than other areas in Virginia. Finding affordable car insurance in Richmond may be doable by comparing quotes from multiple companies and considering available discounts. The companies listed below offer some of the cheapest average rates for minimum coverage in Richmond, Virginia.

How much is car insurance in Richmond, Virginia?

On average, Virginia car insurance is less expensive than the national average for full coverage but more expensive for minimum coverage. The national annual averages are $2,670 for full coverage and $773 for minimum. In Virginia, those annual averages are $2,142 and $694, respectively. However, those average rates for Richmond are slightly higher at $2,262 and $762, respectively.

Richmond rates for teens

When insuring a teen driver, policies tend to be more expensive. This is especially true if the teen is on their own policy instead of on their parents'. Experience, or the lack thereof, is one of the most significant determiners of car insurance rates. Teens, having the least driving experience, are often the most expensive demographic to insure.

Richmond rates for young drivers

Young Richmond drivers may want to prioritize discounts and affordable auto insurance carriers to help mitigate their relatively high average rates. Still, while young drivers face higher rates than older drivers, they should be seeing lower rates than when they were teens. The rates below are for drivers on their own policies and not on their parents’.

Richmond rates for adults

Adult drivers in Richmond may no longer be facing the penalties of inexperience, but rates may still be costly, and there could be ways to save more on premiums. How clean your driving record is, what discounts you're eligible for and how expensive and safe your vehicle is will all play a role in calculating your rates.

Richmond rates for senior drivers

Sometimes, senior drivers start seeing rate increases with age, but this can vary by company. Senior drivers might reduce their rates and increase their safety by adding safety features and devices to their vehicles. Devices that prevent lane mergers when there is another vehicle or that apply brakes when you might otherwise rear-end someone can help keep you safe and might lower your auto insurance rates.

The cheapest car insurance in Richmond by driving record

Getting a DUI or similar driving infraction may see you paying higher rates even than a teen driver. Driving incidents have the potential to raise your rates more than nearly anything else. Still, while low rates can be hard to find when you have a poor driving record, some companies offer more affordable rates than others.

Car insurance with a speeding ticket in Richmond

Getting a speeding ticket in Richmond could see your auto insurance rates increase 22 percent more compared to the city average for full coverage car insurance. If you've been convicted of a speeding ticket, you may want to consider looking for auto insurance companies known for offering low average rates to high-risk drivers. One ticket may not place you in this category, but it's likely to lead to rate increases, nonetheless.

Car insurance after an accident in Richmond

Having an at-fault accident on your record in the last three to five years could see your premiums in Richmond increase 22 percent more compared to the city average for full coverage car insurance. Although accidents will eventually go off your insurance record, they can cause a significant increase in rates beforehand. To help offset these increased rates, consider some of the cheapest car insurance carriers in Richmond for more affordable policies.

Car insurance after a DUI in Richmond

If you've been convicted of a DUI in Richmond, then your rates may increase 109 percent more compared to the city average for full coverage car insurance. Few things can increase auto insurance premiums as much as a DUI conviction. Still, finding relatively affordable coverage from the right auto insurance company may be possible. It’s important to note that not all insurers will offer a policy to drivers with a DUI. The best way to know is to request a quote.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze February 2025 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state's requirements. Our base profile drivers own a 2023 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.

Age: Rates were calculated by evaluating our base profile with the ages 20-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Teens: Rates were determined by adding a 16- or 18-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents' policy.

Bankrate Score

Our 2025 Bankrate Score for auto insurance considers key variables that our insurance editorial team determined impact policyholders’ experiences with an insurance company. These factors include a robust assessment of each company’s cost of coverage, product availability, financial strength ratings, online capabilities and customer and claims support accessibility. We grouped these factors into three essential categories — cost and ratings, coverage and savings, and support — which we then weighted in a tiered approach. 

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto insurance companies satisfy these priorities, our team analyzed quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the National Association of Insurance Commissioners (NAIC). 
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated the discount options listed on each company’s website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored in a company’s corporate sustainability efforts.