When buying car insurance in Alexandria, VA, there are several factors that can affect the cost of coverage. These factors can include vehicle size, driver age, and credit score. In this article, we will explore the average cost of auto insurance in Alexandria. You can also learn about the various rates based on these factors.
Average monthly cost of car insurance in Alexandria
Car insurance rates in Alexandria, Virginia, depend on several factors, including zip code and the type of vehicle you drive. The Toyota Prius, for example, is an electric car that typically costs less to insure than an equivalent gas-powered car. Some car insurance companies may also offer discounts for loyalty and safe driving, such as telematics programs. The best way to find the lowest monthly insurance costs in Alexandria is to compare multiple quotes.
The average monthly cost of car insurance in Alexandria is $93 per month, or $1,110 per year. That's nearly 9% lower than the national average and over $580 less than the state average. For instance, a 60-year-old driver with a high deductible will pay an average of $842 a year. By comparison, a 20-year-old driver with a low deductible will pay $2,556.
Drivers with a clean driving record in Alexandria will pay significantly less than drivers with multiple violations. Those with no tickets and no accidents can expect to pay an average of $84 per month. However, having a few tickets and accidents will raise your monthly cost, so be safe and drive more safely.
Car insurance in Alexandria Virginia is offered by several companies, including Progressive, USAA, and GEICO. While each company offers slightly different coverage and rates, the cheapest coverage comes from Progressive. The second-cheapest coverage comes from USAA, although it only applies to military families. GEICO has the highest MoneyGeek rating of all insurers.
In Virginia, drivers can opt to carry liability only or full coverage auto insurance. Liability only coverage protects third parties but does not cover the injuries or property damage that you cause. Liability-only insurance is $489 per year. Full coverage, on the other hand, costs $1,321 per year.
Drivers with good credit score in Alexandria, VA are usually eligible for discounts that are up to 20%. To qualify for this discount, drivers must have fewer than three points on their license, have held their license for at least three years, and have no at-fault accidents. Additionally, drivers with excellent driving records can qualify for discounts from several insurance companies.
Variation in rates based on age
Age and gender are factors that affect car insurance rates, as are other factors such as zip codes. However, there are no hard and fast rules when it comes to determining the exact cost of car insurance in Virginia. You should always shop around and compare rates from multiple companies before making a final decision.
For instance, drivers in Alexandria who are still in their teens usually pay the highest rates. As they age, their rates will drop. Drivers in their 20s will find that their premiums are about $2,724 cheaper than those of drivers in their teens. This is the largest age gap among all age groups.
Another factor that affects auto insurance rates is your driving record. Drivers with clean records can expect to pay lower rates than those with a history of tickets and accidents. For example, a driver in Alexandria with one accident and one ticket will pay $84 per month on average. A cleaner record means lower monthly premiums, and the safer you drive, the lower your premiums.
According to the Census Bureau, Alexandria, VA is home to nearly 158k people. That's 2.49 times higher than the national average of $229,800. As of 2020, Alexandria, VA's median property value was $572,700. Among Alexandria, VA residents, the most common car ownership types are two cars and false. Additionally, nearly 90% of the population in Alexandria, VA has health insurance. The majority of residents are on employer-sponsored health plans, but a small percentage have Medicare or Medicaid. The remaining percentage have individual or group health insurance policies.
Age is a major factor in car insurance rates. Younger drivers pay higher rates than older drivers, and rates tend to decline with age. However, rates do not rise until people reach their 60s. It is not uncommon for an 80-year-old driver to pay more than a 25-year-old driver.
Variation in rates based on vehicle size
Variation in rates based on vehicle size is a common phenomenon that occurs when the number of vehicles on a road varies by size. Larger vehicles have greater maneuverability, while smaller ones do not. The inverse exponential function, a statistical concept, has an impact on rates at both extremes.
Variation in rates based on credit score
If you have a clean driving record and have never had a ticket or accident, you can expect to pay significantly less for your auto insurance than a driver with a history of violations. For example, a driver with a single accident and one traffic ticket can expect to pay $84 a month for their auto insurance policy. However, accidents and tickets will significantly increase your monthly bill. Thankfully, there are many ways to lower your auto insurance rate.
One of the cheapest car insurance companies is Geico. Nationwide doesn't raise your rates after an accident, and Geico doesn't raise your rates if you've had an accident. Similarly, if you're a driver with a history of DUIs or accidents, you'll want to find a company that doesn't raise your rates. Another thing to consider is your credit score. Some states prohibit the use of your credit score when determining your auto insurance rate, but Virginia allows this practice.
Your age will affect your Alexandria Virginia car insurance rates, too. Young drivers typically pay the highest insurance rates. However, you can age out of a teenage driver's category and begin paying lower rates by the time you're in your 20s. The cost difference between teenagers and drivers in their 20s is $2,724, which is the largest of any age bracket.
The cost of car insurance varies from state to state, so it's important to research various companies. If you're on a budget, consider choosing a regional insurer with a good reputation and low cost. Additionally, you can consider a policy with more coverage than the minimum requirements.
In Alexandria, the average commute time is longer than the national average. Residents commute alone or by public transit. While only 22 percent of the population commutes by car, that number is high compared to the national average. In addition, drivers are likely to experience fewer traffic violations in Alexandria compared to other cities.