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How much is car insurance in Richmond?
|Area||Average Monthly Car Insurance Premium|
As you can see, car insurance policies across the rest of Texas are about $8 a month cheaper than the rates drivers pay in Richmond.
If you're thinking of moving to Richmond from out of state, you may still be in luck. It's around $7 less to insure your vehicle compared to the average rate for the United States as a whole.
These rates may be the average amount Richmond residents pay for their insurance policy, but that doesn't mean it's exactly what you'll pay. There are a number of factors that determine how much insurance companies might charge you to insure your vehicle. The final dollar amount you'll be asked to pay each month is calculated based on things like age, gender, vehicle make and model, driving record, and in some cases, credit score.
We've broken down the average rates for Richmond to help you understand what exactly you might be asked to pay. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP Code below and find out in just minutes!
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Richmond Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
It makes sense that the older you are, the more experience you have driving, right? When it comes to auto insurance rates, that experience pays off. As you can see, 18-24-year-olds pay $56 more than drivers 65 and older.
For every 10 years, you can expect to see a drop in your monthly premium. That said, once you hit retirement age, your rates may creep back up a bit in Richmond.
Richmond Car Insurance Rates by Gender
In general, women pay slightly less for car insurance than men. In Richmond, this difference shakes out to about $7 per month. Looking at the table above, you can see that female drivers pay around $69 on average, while male drivers typically pay $76 each month.
Richmond Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can vary wildly depending on your driving record. A clean driving record will obviously get you a lower rate than one with accidents or infractions. In Richmond, a driving record with one accident will usually get you a rate around $102 a month. Likewise, drivers with one ticket will be looking at a rate of around $83 a month on average.
Accidents, tickets, and other driving infractions can cost you some serious cash. So, if you're looking for cheap car insurance, drive carefully and keep a clean record.
Richmond Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$64|
|15 Years or Older||$75|
As you can see in the first table above, the cheapest vehicles to insure in Richmond are usually SUVs, which run about $68 per month.
Car owners will see rates of about $75, while truck and van owners by and large pay around $73 a month.
In addition to vehicle type, you can also expect to see slightly different rates based on how old your vehicle is. Generally, newer vehicles are going to cost the most to insure. However, once your car is a few years old, you might start to see your rates slide back down slightly. In Richmond, vehicles eleven-to-fourteen years old are the most expensive to insure.
Richmond Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$81|
On average, car insurance is slightly cheaper for married policyholders. This can usually be attributed to their policies having multiple vehicles, a factor some companies will reward with discounts.
The difference in rates based on relationship status in Richmond is about $21 a month, with married couples paying less for coverage than single drivers.
Richmond Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$104|
Your housing status is another component of how insurance companies calculate your monthly rate. If you rent your home or apartment in Richmond, expect to pay around $16 a month more than if you own your home. But if you live with your parents, your rates will be significantly higher.
Bundling your home or rental insurance and auto insurance policies can oftentimes reduce your average premiums, depending on your insurance company.
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.
The rates for car insurance in Richmond went up from 2017-2018, but started to turn downward from 2019-2020 -- when they hit a low of $64. Insurance rates finished down in 2022 at $70 per 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 figuring out how much individual insurance policies will cost. While we mentioned the factors that affect your personal policy, others are based around your home address. These include things like:
- Amount of drivers
- Regional crime rates
- Local regulations
- Road safety
- Off-street parking accessibility
It's good to be aware of these factors (even though you may not be able to do much to influence them) as you shop for a new policy or consider relocating. 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?
While knowing what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
But hold on! Compare.com has you covered. Put in your ZIP below, answer a few questions, and you'll be comparing the cheapest quotes from dozens of car insurance companies offering coverage in Richmond in no time.
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Richmond Auto Insurance FAQs
What factors affect car insurance quotes in Richmond?
Auto insurance companies take a wide array of factors into consideration when calculating your monthly payment. These include things like your vehicle's year, make and model, your gender and age, as well as your address, credit score, driving record, and marital status.
Why is the cost of car insurance in Richmond different from other neighboring cities?
Parking situations, local laws, and crime rates -- all of which can change from city to city -- play a large role in the rates that car insurance companies may charge for coverage.
Which car insurance company will offer me the cheapest rate in Richmond?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible however, by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Richmond?
Whenever you relocate or experience another major life event, such as getting married or finding a new job, you should consider re-evaluating your current insurance policy. By using services like Compare.com to compare quotes from multiple companies at once, you can be sure to capture any new savings brought about by your new situation.
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 point, no matter how much time is left on your current policy. If you're thinking about moving to Richmond or are wondering if you're paying the best rate for your current area, take 10 minutes and visit Compare.com to find out for sure.
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