Virginia Car Insurance
Studies have shown that the average yearly car insurance premium for citizens of Virginia was approximately $1065 during 2011, which is good considering that the national average is about $1400. Although some people have the misconception that insurance companies all have the same rates, this is not true, as the premiums charged for particular insurance policies vary depending on the insurance provider and a variety of other factors. Thus, it is imperative to thoroughly compare car insurance quotes from various sources online, and base your final decision on a plethora of criteria rather than just low rates and premiums. When shopping for a Virginia car insurance plan it is best to consider prospective plans that can effectively accommodate your insurance requirements. The following paragraphs contain information pertaining to comparing Virginia car insurance quotes, regulated car insurance requirements for Virginian citizens, and various types of Virginia car insurance providers.
Comparing Virginia Car Insurance Quotes
The easiest way to compare Virginia car insurance quotes is utilized the vast networking capabilities of the Internet. There are plenty of great comparison sites online that will allow you to compare rates from up to 1500 different insurance companies. Receiving a free quote from a diverse selection of insurance providers is as easy as typing in your zip code and providing a few other basic details pertaining to your insurance coverage needs. After fetching a free quote or estimate from a list of eligible insurance providers, the quote comparison site will list these estimates in a centralized fashion in order to simplify price comparisons. The list will also contain links to the insurance provider's home web pages, where you can find more information about their services.
Regulated Requirements for Virginia Car Insurance
Virginia, like many other states, has specific regulations that govern the requirements for Virginia car insurance coverage. These regulations are commonly referred to as the minimum level of coverage, and were instated along with Virginia's financial responsibility law. The minimum level of coverage required according to Virginia state law is as follows – A Virginian driver is expected to have an automobile insurance policy that provides at least $25,000 for the injury or death of any individual during a particular accident. Virginian drivers are also required to have a Virginia car insurance policy that provides $50,000 worth of coverage for all people in a particular accident. In regards to property damage, Virginian drivers are expected to have a Virginia car insurance policy that provides $20,000 coverage for any one accident that caused property damage of any kind. These basic coverage requirements (minimal levels of coverage) are commonly referred to as the 25/50/20 coverage requirements.
Types of Virginia Car Insurance Companies
It is important to understand that there are several types of insurance companies that offer Virginia car insurance policies. While there are about 1500 insurance companies in the United States, about 700 of those are actually subsidiaries to larger insurance providers. In the state of Virginia, there are currently about 175 different auto insurance providers. Different insurance companies are licensed in different states, with insurance companies that are licensed in all 50 states being referred to as national insurance companies. Ideally, although the rates are typically higher when national coverage is provided, it is best to deal with an insurance company that is at least licensed to perform within your region. Oftentimes, the rates provided by Virginian insurance providers differ based on the targeted demographic and intended audience. For example, one automobile insurance provider may market their services towards inexperienced drivers (who would be required to pay higher premiums), while other insurance providers market their services towards business owners and experienced drivers. Thus, it is possible to narrow the list of prospective insurance providers by only considering companies that are well established and have a satisfied client base of experienced drivers.