Personal experience has taught many drivers that auto insurance prices tend to rise each year. But the reasons for auto insurance rate fluctuations vary, and rate hikes aren't always the prevailing trend.
A client's location is one of the rating factors insurance companies use to set rates. The ZIP code, city, and state within which a car is parked and driven help determine auto insurance prices, which comes down state laws and the varying risks associated with insuring cars in different areas.
Due to the dynamic nature of car insurance pricing, yearly price trends vary by state. Auto insurance rates might be increasing annually in one state but decreasing in the next state over.
See below car insurance rate trends in Virginia. If you're paying too much, consider shopping around to find a better rate. The Zebra's car insurance comparison tool generates car insurance rates based on your specific profile — enter your ZIP below to get started.
Car insurance rate trends in Virginia
In Virginia, average yearly car insurance premiums increased by $5 in the past year. The typical driver in Virginia pays an average of $918 each year.
The general trend in Virginia leans toward less expensive auto insurance rates. Between 2015 and 2018, rates decreased by $38 per year. Meanwhile, car insurance prices across the United States have gone up recently, jumping from $1,280 in 2015 to $1,470 in 2018.
ANNUAL INSURANCE RATE TRENDS IN VIRGINIA
|Year||Avg. Annual Premium — Virginia||Yearly Change — Virginia||Avg. Annual Premium — USA||Yearly Change — US|
If your rates are rising faster than the average in your state, shop around for a better deal.
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How are auto insurance rates changing in major Virginia cities?
Auto insurance policies are priced at a granular geographic level with many location-specific variables influencing premiums. That means drivers can see major differences in their car insurance rates, based solely on their ZIP code or city.
The below table shows annual auto insurance rate changes in Virginia's largest municipalities If your location is experiencing ongoing rate hikes, consider shopping for a cheaper policy.
|City||Avg. Rate Increase — 2018 vs. 2017|