Cheapest Low-Income Car Insurance In Virginia 2024

In Virginia, there is no government-sponsored car insurance program for low-income families or individuals. Finding affordable car insurance can be a real challenge, particularly for low-income families who earn around 50% or less of their area’s median income. However, State Farm provide cheap car insurance at $50 per month.

With 15 years as a licensed insurance agent, I’ve personally been insured by many of the companies reviewed in this guide. They are all reputable, but each has distinct benefits for Virginia drivers.

Does Virginia Have A Government-Sponsored Car Insurance Program For Low-Income Families?

In Virginia, there is no government-sponsored car insurance program for low-income families. Nevertheless, it is mandatory to have car insurance to legally register and operate a vehicle in the state.

Minimum Car Insurance Requirements In Virginia

Virginia law requires drivers to have car insurance to cover accident-related expenses, with the minimum coverage often called 25/50/20, according to the Virginia DMV.

Thus, each policy must offer a minimum of:

• $30,000 in bodily injury coverage per person: This signifies the total amount an insurer will pay for medical bills for one individual injured in an accident you caused.
• $60,000 in bodily injury coverage per accident: This amount denotes the cap on the total payouts your insurer will make for injuries to multiple individuals involved in an accident you caused.
• $20,000 in property damage liability: This is the limit that covers the cost of damage you inflict on another person’s property, including their automobile, in an accident.
• $30,000 Unisured/underinsured motorist coverage per person
• $60,000 Unisured/underinsured motorist coverage per accident
• $20,000 Uninsured/underinsured motorist property damage per accident

Starting January 1, 2025, drivers in Virginia should expect a second increase in the minimum auto insurance coverage requirements. The new limits will require $50,000 of bodily injury liability coverage per person, $100,000 per accident, and $25,000 for property damage per accident. These changes will also apply to uninsured motorist coverage.

These may be the required minimums, but it’s vital to evaluate whether this level of coverage will be enough to protect you financially if an accident occurs. Should the costs exceed your coverage limits, you might be responsible for the excess. Consequently, many drivers select higher levels of coverage to guarantee complete protection.

Full Coverage Options

Although “full coverage” is not a term that insurance companies formally acknowledge, it commonly refers to a collection of coverages that together provide extensive protection against various types of damages and losses. This usually encompasses liability coverage (for bodily injury and property damage), collision coverage, and comprehensive coverage.

Liability coverage addresses the costs related to injuries or property damage you cause to others in an accident. Collision coverage is applicable when your vehicle sustains damage from colliding with another vehicle or object. In contrast, comprehensive coverage protects against non-collision-related incidents such as theft, vandalism, fire, or natural disasters. Essentially, full coverage insurance acts as a complete package designed to provide peace of mind both on and off the road.

Rates For The Cheapest Low-Income Car Insurance In Virginia

Low-Income Car Insurance Rates In Virginia For Seniors

Low-Income Car Insurance Rates For Bad Credit In Virginia

Does Income Affect Car Insurance Rates In Virginia?

Many assume that income has a direct effect on car insurance rates in Virginia, but this is not true. Insurance providers evaluate numerous factors when calculating premiums, such as your age, location, driving record, the kind of vehicle you own, and the coverage level you select.

Car Insurance Discounts For Low-Income Drivers In Virginia

Car insurance discounts can significantly lower your premiums. Here are some common discounts you may be eligible for:

Car Insurance Rates In Virginia – By City

Car insurance premiums in Virginia vary significantly by city, influenced by factors such as traffic density, accident rates, and local crime statistics. Here’s a comparison of average premiums in several Virginia cities.