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How much is car insurance in Henrico?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, car insurance rates in Henrico are in line with the rest of Virginia.
When stacked up against the national average, the average monthly policy payment for Henrico is more affordable. You can expect to pay about $20 below the national average for auto insurance in Henrico.
While these are the average car insurance rates for Henrico, you could end up paying something different. There are a variety of factors that insurance companies consider when determining how much to charge you for insurance. The final dollar amount you'll be asked to pay each month is calculated off of your age, gender, vehicle make and model, driving record, and even your credit score depending on the circumstances.
But don't worry, we've broken down the average rate for Henrico residents based on several different factors so that you can get a more accurate idea of the bill you'll see each month. To find out if you're overpaying for your area, just enter your ZIP Code below and find out in minutes!
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Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
The older you are, the more experience you're likely to have on the roads, right? When it comes to car insurance bills, that experience can help put some change back into your pocket. According to the table above, you can see that 18-24-year-olds pay two times the price that someone who is at retirement age.
You can expect to see your monthly premium drop every 10 years or so. As you get closer to retirement age, however, you may see your rates creep back up in Henrico.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less than male drivers for car insurance. In Henrico, however, the difference in monthly policy premiums is minimal.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
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 Henrico, drivers with one accident on their record will experience rates around $75 a month. Likewise, drivers with one ticket will be looking at a rate of around $70 a month on average.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$62|
|15 Years or Older||$64|
As you can see in the first table above, the cheapest vehicles to insure in Henrico are by and large trucks and vans, which run about $53 per month.
Car owners, on the other hand, typically pay around $63 per month, while SUV drivers can expect to pay about $60 a month for insurance coverage.
Your rates can also vary depending on the age of your vehicle. Generally, newer vehicles are going to be the most expensive to insure. However, once your car is around 5 years old, you might start to see your rates slide back down slightly. In Henrico, 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)||$66|
Generally, those who have settled down into marriage will pay slightly less for car insurance. This usually happens because companies will award special discounts to policyholders with multiple vehicles that are on the same policy.
At a national level, married drivers usually pay less than single drivers for auto insurance. This holds true for Henrico as well, where the difference is around $13 a month.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$81|
Your housing status is another component of how insurance companies calculate your monthly rate. If you rent your home or apartment in Henrico, expect to pay around $14 a month more than if you own property. But if you live with your parents, you can expect to pay a lot more.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your overall costs, depending on your insurance company.
Car Insurance Companies in Henrico, VA
Recent trends in car insurance for Henrico drivers
Car insurance rates are frequently changing, so it's in your best interest to understand which way your area is trending before picking an insurance policy.
In Henrico, auto insurance rates declined from 2017-2018, before steadying out in 2019. Insurance rates rose again recently, hitting a high of $82 in 2022.
How does Henrico compare to neighboring areas?
Why are car insurance rates in Henrico different from other areas?
Car insurance companies will take into account a number of factors when choosing how much to charge for a policy. Where you live will also have a significant impact on your personal policy. This may include things like:
- Frequency of car accidents
- Community laws
- Total drivers
- Off-street parking access
While you won't have the ability to change these factors yourself, they can be handy to keep in mind when seeking a new policy or considering 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 Henrico?
Equipping 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.
Luckily, Compare.com will handle the heavy lifting for you. Simply enter your ZIP below, respond to a few questions, and you'll be comparing the cheapest quotes from several of the car insurance companies providing policies in Henrico.
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Henrico Insurance FAQs
What factors affect car insurance quotes in Henrico?
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 credit score, driving record, marital status, and address.
Why is the cost of car insurance in Henrico different from other neighboring cities?
Crime rates, local laws, and parking situations -- 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 Henrico?
Since the factors that car insurance companies take into consideration when calculating the rate you might pay differ from person to person, there is no one insurance company that will offer the cheapest rate to everybody. Things like your driving record, the number of drivers on the policy, and vehicle make and model, plus a number of others, are all taken into account. Because of this, it's a good idea to use sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Henrico?
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 Henrico 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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