Table of contents
How much is car insurance in Richmond?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, it is around $7 a month more expensive to insure your vehicle in Richmond than it is in the rest of Texas.
On the other hand, when compared to the national average, the cost for auto insurance in Richmond is lower. Car insurance rates for the U.S. as a whole are, on average, $9 more expensive than the rates you'd pay in Richmond.
Although these are the average car insurance rates in Richmond, you could end up paying something different. There are a variety of factors that car insurance companies consider to determine how much to charge you to get your vehicle insured. Variables like age, gender, vehicle make and model, driving record, and even credit score (depending on your area) can all be taken into consideration when determining your monthly payment amount.
We've done the heavy lifting for you and broken down the average rate for Richmond so that you can get a more accurate idea of what you might pay. And if you think you might be overpaying for insurance, simply enter your ZIP below to learn more about rates in your area!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
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 10 years, you can expect to see a decrease in your monthly premium. Drivers in Richmond may see their rates begin to go back up once they hit retirement.
Average Car Insurance Rates by Gender
In general, car insurance rates for women are usually cheaper than they are for men. The difference in average rates in Richmond totals about $6 a month. Looking at the table above, you can see that female drivers pay around $68 on average, while male drivers typically pay $74 each month.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. Those with fewer accidents and tickets will pay a lot less than those with multiple infractions. Drivers in Richmond with a single accident will pay around $95 a month. Similarly, drivers with one ticket will typically pay around $97 on average.
When it comes to your monthly premium, accidents, tickets, and other driving infractions can really take a toll. 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||$62|
|15 Years or Older||$74|
According to the first table above, the cheapest vehicles to insure in Richmond are by and large SUVs, at $66 per month.
Car owners, on the other hand, typically pay around $73 per month, while truck and van drivers can expect to pay about $71 a month to insure their car.
Your vehicle's age can also affect your monthly bill. Generally, the most expensive vehicles to insure are going to be newer ones. However, once your car is a few years old, you might start to see your rates slide back down slightly. In Richmond, for example, the most expensive vehicles to insure are vehicles fifteen years and older.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$78|
Generally speaking, those who have settled down into marriage will pay slightly less for insurance coverage. This oftentimes is a result of owning multiple vehicles that are on the same policy, something some companies will reward with discounts.
According to the table above, the difference in rates based on relationship status in Richmond can be as much as $18 a month, so it's worth taking into consideration.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$104|
Another factor taken into consideration is your living accommodations. If you rent your home or apartment, expect to pay around $13 a month more than those who own their own home in Richmond. But if you live with your parents, you can expect to pay a lot more.
If you bundle your home or rental insurance and auto insurance policies, you can oftentimes reduce your average costs, depending on your insurance company.
Car Insurance Companies in Richmond, TX
Recent trends in car insurance for Richmond drivers
Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area when selecting an auto insurance policy.
In Richmond, auto insurance rates went up from 2016-2018, but leveled out in 2019. Rates had been decreasing since then and reached a low of $64 per month in 2020. However, rates reached their highest point in 2021, at $86 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 a variety of factors when choosing how much individual insurance policies will cost. While we mentioned the factors that affect your personal policy, others are based around where you live and drive. These include things like:
- Rate of car accidents
- Area regulations
- Rate of crime
- Total number of drivers in the area
- Access to off-street parking
You can't change these factors yourself, but they're something to take into consideration when shopping for a new policy or looking to move into an area. Different cities and towns will each have different rates, so guides like these are a handy way to get started.
How can I find the cheapest car insurance in Richmond?
In the end, the only way to know exactly what your rate will be is to request a quote from a car insurance company.
But wait! Compare.com has you covered. Just punch in your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from several of the car insurance companies offering policies in Richmond in no time.
Richmond Insurance FAQs
What factors affect car insurance quotes in Richmond?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your age and gender, but also factors like your driving record, credit score, address and marital status, as well as your vehicle's year and make and model.
Why is the cost of car insurance in Richmond different from other neighboring cities?
Things like local laws, parking situations, and crime rates, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in Richmond?
There isn't one company that will offer the cheapest rate to everybody. What companies will charge you are based on many different factors that vary from person to person, such as your driving record, what kind of car you drive, how many drivers will be on your policy, and a number of other factors. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once. That way, you can be confident you're getting the best price.
Do I need to change my insurance if I move to Richmond?
Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea 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. In fact, you can swap companies at any point, regardless of how much time is left on your current coverage. So, whether you're moving to Richmond or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?