Average car insurance cost in Norfolk, VA

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According to data from Insure.com, the average annual cost of car insurance in Norfolk, Virginia is $1,607. The auto insurance rates in Norfolk is $138 more than the state average and $288 less than the national average.

Car insurance premiums vary significantly based on where they are filed. Factors such as city demographics, population density and average resident age, accident rates, theft, and vandalism rates will influence the amount of premiums you pay.

This article talks in detail about the most affordable car insurance companies in Norfolk, the average car insurance rates by age and gender, and how much car insurance cost in Norfolk depending on coverage limits. Whether you’re a new driver or an experienced one, this article will help you to find the most affordable car insurance in Norfolk. Keep reading to learn more.

Cheap car insurance companies in Norfolk

Travelers offers the cheapest car insurance in Norfolk, at an average of $1,288 per year with full coverage limits of 100/300/100.

The second cheapest company in Norfolk is Erie Insurance, offering car insurance rates at $1,327 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Norfolk before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Norfolk, Virginia:

Read about the best car insurance companies.

Average car insurance cost in Norfolk by coverage limits

The average car insurance rates in Norfolk by coverage type are as follows:

• State minimum coverage: $558 per year (limits of 25/50/25)
• Liability-only coverage: $622 per year (limits of 50/100/50)
• Full coverage: $1,607 per year (limits of 100/300/100)
• Non-owners coverage: $349 per year

In many states, drivers are legally required to maintain state minimum coverage. However, these requirements vary by state. However, the state minimum coverage does not protect vehicles listed on your policy in an at-fault accident.

It’s advisable to choose full coverage to avoid the risk of inadequate coverage and out-of-pocket expenses. You can also choose non-owners coverage if you often borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Norfolk

The average car insurance per year for female drivers in Norfolk, Virginia, is $1,624.

Whereas the yearly average car insurance rate for male drivers is $1,590, which is $34 less than what female drivers pay.

According to the Insurance Information Institute, women are considered to be safer drivers than men, and statistics have proved this. They often enjoy lower auto insurance premiums due to their lower incidence of severe accidents compared to men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Norfolk

Car insurance rates in Norfolk, are highest for teens at $5,065 per year or $422 per month. According to the Insurance Information Institute, the rates are higher for teens (16- to 19-year-olds) as they are more prone to road accidents due to their lack of experience on the road. To address this, there are specific driving laws for teens to help them drive better. Additionally, parents can potentially reduce teen insurance rates by adding them to their existing auto insurance policy.

As teens age and build a positive driving history, it’s common for car insurance rates to decline. Young adults typically pay $2,595 annually for their car insurance, which is $2,470 less than what teens pay for their insurance coverage.

In Norfolk, adult drivers pay an average of $1,611 per year for car insurance, while senior drivers pay $1,728 annually.

The rates for adults and seniors are notably lower compared to the rates for teens and young adults as they are more likely to obey the speed limits and follow the rules of the road, as per the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below depicts the average annual rates for drivers of different age groups:

Car insurance rate trends in Norfolk

Examining car insurance rate trends in Norfolk, Virginia, we observe a upward trend from 2022 to 2023. Subsequently, from 2022 to 2023, the rates experienced increase overall, with an increase of 11% or $164.

The table below shows the trend for last four years:

Conclusion

In conclusion, Norfolk’s car insurance rates are higher than the average insurance rates in Virginia. Drivers in Norfolk can find affordable car insurance options by shopping around and taking advantage of available discounts. Moreover, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.