How Much Does Auto Insurance Cost for a 20 Year Old Male in Virginia?

For young men, one of the more important considerations that affect the amount you pay for auto insurance is where you choose to live in Virginia. Areas with more people or even just a higher incidence of claims like Burke, Dale City, and Centreville tend to have higher auto insurance costs, whereas less populated areas tend to receive slightly lower rates.

The table below shows the most expensive cities in Virginia for 20 year old guys to buy auto insurance in.

Price information shown is approximated as the specific geographic location can increase or decrease rates noticeably.

The car, truck, or SUV driven is a large factor when shopping around for the cheapest auto insurance for 20 year old guys. Vehicles with higher performance characteristics, poor passenger safety features, or a high likelihood of having liability claims will cost significantly more to insure than more economical and safe models. The information below shows insurance prices for a selection of the more afforable vehicles to buy insurance for.

Data based on single male driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, and safe-driver. Estimates do not factor in specific zip code location which can increase or decrease premium rates significantly.

Looking at the rates, you can see that cars like the Hyundai Elantra, Honda CR-V, Ford Escape, Chevrolet Traverse, and Dodge Grand Caravan will definitely be some of the cheaper vehicles to insure for young men. The price for car insurance will be higher anyway just due to the fact that there is more liability exposure for 20 year old guys, but generally speaking those particular vehicles will probably have the lowest prices compared to other vehicles.

Figuring out which company quotes the cheapest insurance rates for 20 year old guys may require a bit more work than just comparing a company or two. Each insurance company has a different formula to set policy rates, so let’s take a look at the lowest cost insurance companies in Virginia.

It’s important to know that Virginia insurance rates are based on many factors which can substantially change the policy price. Simply improving your credit, having a teenage driver, or getting a ticket for careless driving may cause policy rate changes resulting in some companies being more affordable than before.

Best Insurance Companies for Men Age 20

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Travelers generally has some of the best car insurance rates in Virginia at around $653 a year. USAA, Penn National, Cincinnati Insurance, and Auto-Owners also are some of the cheaper Virginia auto insurance companies.

As shown above, if you currently have coverage with Penn National and switched to Travelers, you might see a yearly price reduction of roughly $73. Customers with Cincinnati Insurance might save as much as $110 a year, and Auto-Owners policyholders might lower prices by up to $128 a year.

Understand that those policy prices are averaged for all types of insureds and vehicles and and are not calculated with a price surcharge for 20 year old guys. So the insurer that fits your age and vehicle best may not even be featured in the company chart above. That is why you need to compare rates from multiple companies using your own specific driver and vehicle information.

Liability rates compared to full coverage

Finding cheap car insurance for 20 year old guys in Virginia is important to the majority of vehicle owners, and one easy way to find cheaper insurance is to not buy full coverage. The illustration below illustrates the difference between insurance premiums when comparing full coverage to liability only. The costs are based on no tickets, no at-fault accidents, $100 deductibles, single marital status, and no discounts are applied to the premium.

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If averaged out across all ages, comp and collision coverage costs $1,981 per year more than just insuring for liability. At some point, every insured wonders if you should buy full coverage. There is no clear-cut formula to stop paying for full coverage, but there is a general school of thought. If the yearly cost of full coverage is about 10% or more of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.

For example, let’s say your vehicle’s book value is $4,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company will settle for is $3,000 after paying your policy deductible. If you are paying in excess of $300 annually for full coverage, the it may be a good time to stop paying for full coverage.

There are a few cases where only buying liability is not in your best interest. If you still have a lienholder on your title, you have to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not eliminate full coverage.

Rate increases following a ticket or accident

A great way to score cheap car insurance for 20 year old guys in Virginia is to drive safely and avoid accidents and traffic citations. The information below shows how speeding tickets and accident claims drive up yearly insurance costs for different categories of driver ages. The data assumes a married female driver, comp and collision included, $500 deductibles, and no discounts are factored in.

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The chart shows that the average cost of auto insurance in Virginia per year with a clean driving record and no accidents is $941. Receive one speeding ticket and the average cost increases to $1,095, an increase of $154 each year. Now get one accident along with the one speeding ticket and the 12-month cost of insurance for 20 year old guys increases to an average of $1,524. That’s an increase of $582, or $49 per month, just for being a careless driver!

How to find economical auto insurance for 20 year old guys

Below you’ll find some of the recommended penny-pinching suggestions that can help Virginia drivers find more affordable coverage.

• Safe vehicles cost less to insure
• Buying home and auto insurance together can earn discounts
• Drop full coverage on older vehicles
• Avoid getting tickets or violations
• Try to not file small claims
• Prevent rate increases by staying accident-free
• Shop around for cheaper rates regularly

The last idea is certainly valuable, as was noted in the prior information. Coverage prices in Virginia can be adjusted at any time, so don’t be afraid to buy a policy from a new company if a cheaper price is available.

Brand loyalty is great, but we do not recommend it if it’s costing you a lot of money. Spend a few minutes and compare rates and find cheaper auto insurance for 20 year old guys.

Who has the cheapest insurance quotes for young men?

Consumers have many ways to quote and buy insurance in Virginia, but the most preferred ways are through an exclusive insurance agent like Auto-Owners or State Farm, a non-exclusive or independent agent, or buying direct from a company like Geico or Progressive.

They all have the same end result, but buyers should know the differences in how they price policies.

Independent insurance agencies work with multiple companies and can do rate comparisons with all of them. These types of agencies have the ability to provide multiple price quotes, which can give you a better overall rate comparison. If you want to switch companies, it’s easy for the agent to move the policy without you having to go to a different agency.

An exclusive agent is limited to one company, examples being Allstate and Liberty Mutual agents. They generally cannot compare other company’s rates, so it’s a good idea to get additional price quotes.

Drivers who opt to buy insurance direct forego a local agent and buy from a direct company like Esurance. This option is a good choice for people who do not need high amounts of coverage and have a good understanding of what insurance covers.

So which of the methods works best to buy cheap car insurance for 20 year old guys in Virginia? The obvious answer would be buying direct saves money because you bypass the middleman, but unfortunately, that is not always true. A valid argument could also be made that using an independent agent guarantees the cheapest rates because they can quote many companies, but that is not accurate either. And occasionally, exclusive agents have really good rates that are the cheapest.

Due to that fact that insurance uses so many rating variables, the one way to make sure you’re not overpaying for insurance is to compare rate quotes from as many companies as possible. It takes a little work, but we recommend you get rate quotes from independent agents, exclusive agents, and direct companies to give yourself the best selection. For a list of companies with online discounts, click here to view.