Table of contents
How much is car insurance in Richmond?
| Area | Average Monthly Car Insurance Premium |
|---|---|
| Richmond | $74 |
| TX | $65 |
| United States | $81 |
As you can tell from the chart above, the cost of coverage in Richmond is about $9 a month more expensive than the rest of Texas.
Compared to the national average cost of auto insurance coverage, Richmond has lower rates. You can expect to pay about $7 less for your policy in Richmond than in the rest of U.S.
The price you pay may very well be higher or lower than the rates you see, but we can help explain why. Insurance companies weigh a variety of factors when determining how much to charge you for car insurance. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect the bill you'll see each month.
We've broken down the average rates for Richmond to help you understand what exactly you might be asked to pay. To find out if you're overpaying for your area, just enter your ZIP below and find out in minutes!
Average Car Insurance Rates by Age
| Age Range | Average Premium |
|---|---|
| Under 18 | Not Enough Data |
| 18-24 | $114 |
| 25-34 | $69 |
| 35-44 | $62 |
| 45-54 | $58 |
| 55-64 | $53 |
| 65+ | $59 |
The older you are, the more experience you're likely to have behind the wheel, right? When it comes to car insurance premiums, that experience can really pay off. As you can see, 18-24-year-olds pay a lot more than drivers of retirement age.
For every ten years older you get, you can expect to see a drop in your monthly premium. Richmond drivers may see their rates begin to increase again once they hit retirement.
Average Car Insurance Rates by Gender
| Gender | Average |
|---|---|
| Male | $77 |
| Female | $69 |
Male drivers pay, on average. slightly more than female drivers for auto insurance. In Richmond, male drivers pay about $8 more a month. Based on the chart above, you can see that female drivers pay around $69 on average, while male drivers typically pay $77 each month.
Average Auto Insurance Rates by Driving Record
| Infractions | Average Monthly Premium |
|---|---|
| 1 Accident | $100 |
| Multiple Accidents | $94 |
| 1 Ticket | $82 |
| Multiple Tickets | $108 |
One of the biggest factors in determining your car insurance rates is your driving record. Drivers who avoid accidents and tickets will pay much lower rates than those with infractions. The rate for drivers in Richmond with a single accident on their record is about $100 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $82.
Accidents, tickets, and other driving infractions can really hurt your wallet. In order to keep your monthly bill down and get the cheapest car insurance possible, keep your record clean and drive safely.
Average Insurance Rates by Vehicle
| Vehicle Age | Average Monthly Premium |
|---|---|
| Less Than 1 Year | $64 |
| 2-3 Years | $69 |
| 4-5 Years | $75 |
| 6-7 Years | $72 |
| 8-10 Years | $75 |
| 11-14 Years | $75 |
| 15 Years or Older | $75 |
If you look at the first table above, the cheapest vehicles to insure in Richmond are typically SUVs, at $69 per month.
Truck and van drivers will see rates of about $73 for insurance coverage, while car owners by and large pay around $75 per month.
Your rates can also vary depending on your vehicle's age. Generally, newer vehicles are going to be the most expensive to insure. However, your rates may start to decrease if your car is around 5 years old. In Richmond, the most expensive vehicles to insure are vehicles fifteen years and older and four-to-five years old.
Average Car Insurance Rates by Relationship Status
| Relationship | Average Monthly Premium |
|---|---|
| Single (never married) | $81 |
| Married | $60 |
| Divorced | $61 |
| Widowed | $50 |
On average, married policyholders will pay slightly less for auto insurance. This usually boils down to owners having multiple vehicles on the same policy, something some companies will reward with discounts.
The difference in rates based on relationship status in Richmond can be as much as $21 a month, so it's worth keeping that in mind.
Average Car Insurance Rates by Housing Situation
| Housing Status | Average Monthly Premium |
|---|---|
| Own | $62 |
| Rent | $79 |
| Live with parents | $104 |
Your housing situation is another component of how insurance companies calculate your monthly rate. If you rent your home or apartment in Richmond, expect to pay around $17 a month more than if you are a homeowner. Those who live with their parents, however, can expect to pay a lot more.
That said, if you bundle your homeowners or rental insurance policy with your auto insurance, many companies will offer you a discount to make up for it and reduce your car insurance premiums.
Car Insurance Companies in Richmond, TX
Recent trends in car insurance for Richmond drivers
Average rates are constantly changing, so it's a good idea to know the direction your area is trending when choosing when and where to shop.
Auto insurance rates in Richmond had been increasing from 2017-2018, but decreased until 2020, when they reached a low of $64. Policy premiums finished down in 2022, at $68 a month.
How does Richmond compare to neighboring areas?
Why are car insurance rates in Richmond different from other areas?
Car insurance companies take in many factors when choosing how much individual insurance policies will cost. Where you live will also have a significant impact on your personal policy. This may include things like:
- Off-street parking access
- Rate of car accidents
- Total number of drivers in the community
- Crime levels
- Local regulations
A decent level of familiarity with these factors can be helpful when you're ready to purchase of a new policy or thinking about making a move. With the knowledge that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.
How can I find the cheapest car insurance in Richmond?
Arming yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
But hold on! Compare.com does all of that work for you. Enter your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from many of the car insurance companies offering plans in Richmond.
Richmond Insurance FAQs
What factors affect car insurance quotes in Richmond?
Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your age and gender, but also factors like your marital status, credit score, address, and driving record.
Why is the cost of car insurance in Richmond different from other neighboring cities?
Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like crime rates, parking situations, and local laws when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Richmond?
There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.
Do I need to change my insurance if I move to Richmond?
Any time you experience a major life event, whether it's moving to a new area, getting married, finding a new job, or other notable events, it's always a good idea to re-evaluate your current insurance. Certain companies offer cheaper insurance in certain cities, so even if you were getting the cheapest rate at your old address, it doesn't mean it'll still be the cheapest at your new home. That's why it's always good to use services like Compare.com to compare quotes from dozens of companies side-by-side.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Richmond or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.