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How much is car insurance in Henrico?
|Area||Average Monthly Car Insurance Premium|
According to the chart above, the rates you'll pay for coverage in Henrico are on par with what you would pay anywhere else in Virginia.
If you're thinking of moving to Henrico from out of state, you may still be in luck. It's around $22 less to insure your vehicle compared to the average rate for the U.S. as a whole.
Although these are the average rates for auto insurance in Henrico, it's important to remember that you could end up paying something different. Insurance companies take in a number of factors when deciding what amount to charge you for insuring your vehicle. The final dollar amount you'll be asked to pay each month is calculated off of factors such as your age, gender, vehicle make and model, driving record, and in some areas, your credit score.
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 your policy's monthly premium. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP below and find out in just minutes!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The older you are, the more experienced you are on the roads. When it comes to your monthly premium, that experience can really pay off. As you can see, 18-24-year-olds pay $41 more than someone who is retirement aged.
Every ten years or so you can expect to see a decline in your monthly premium. As you get closer to retirement, however, you may see your rates creep back up a bit in Henrico.
Average Car Insurance Rates by Gender
In general, women pay slightly less for car insurance than men. In Henrico, although men do pay slightly less on their monthly premiums, the price is about the same for either group.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
Your rates can change quite drastically depending on your driving record. Those with clean records will obviously pay a lot less than those with infractions. Drivers in Henrico with one accident will pay around $68 a month. Likewise, drivers with one ticket will be looking at a rate of around $84 a month on average.
When it comes to your monthly premium, accidents, tickets, and other driving infractions can really take a toll. Remember, cheap car insurance rates are dependent on driving safely and keeping your record clean.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$64|
|15 Years or Older||$59|
The cheapest vehicles to insure in Henrico are by and large trucks and vans, with each type typically costing about $52 per month.
SUV drivers will see rates of about $58 to insure their car, while car owners typically pay around $59 a month.
Your vehicle's age can also affect your monthly bill. Overall, newer vehicles are going to cost the most to insure. Once your car is about 5 years old, however, you may see your bill start to shrink a bit. In Henrico, vehicles less than one year old are the most expensive to insure.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$62|
Generally speaking, car insurance is slightly cheaper for married policyholders. This usually boils down to owners having multiple vehicles on the same policy, something that will often get you a discount.
The difference in rates based on relationship status in Henrico is about $10 a month, with married couples paying less for coverage than single drivers.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$80|
Another factor taken into consideration is your living situation. If you rent your home or apartment, expect to pay around $10 a month more than drivers who own property in Henrico. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
Many companies, however, will offer you a discount to bundle your home or rental insurance with your auto insurance policy, which can help reduce your car insurance costs.
Car Insurance Companies in Henrico, VA
Recent trends in car insurance for Henrico drivers
Average rates are constantly changing, so it's a good idea to know the direction your area is trending before picking an insurance policy.
The cost of insurance in Henrico increased from 2016-2018, before leveling out in 2019. Car insurance rates finished down in 2021, at $64 per month
How does Henrico compare to neighboring areas?
Why are car insurance rates in Henrico different from other areas?
Car insurance companies take in several factors when deciding how much individual insurance policies will cost. While we already talked about the ones that affect your personal policy, others are based around your home address. These include things like:
- Number of drivers in the region
- Local crime rates
- Off-street parking accessibility
- Road Safety (total number of local car accidents)
It's good to be aware of these factors (even though you may not be able to do much to change them) as you shop for a new policy or consider making a move. Different towns and cities will all have different average rates, so guides like these are a great place to get started.
How can I find the cheapest car insurance in Henrico?
Familiarizing yourself with patterns in the average costs of drivers like you will give you a leg up in conversations with insurance companies. Ultimately, the only way to know exactly what your rate will be is by requesting a quote from those car insurance companies.
But wait! Compare.com has you covered. Just enter your ZIP Code below, answer a few questions, and you'll be comparing the cheapest quotes from numerous car insurance companies providing policies in Henrico in no time.
Henrico Insurance FAQs
What factors affect car insurance quotes in Henrico?
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 driving record, address, credit score, and marital status.
Why is the cost of car insurance in Henrico different from other neighboring cities?
Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like parking situations, crime rates, and local laws -- which can vary from city to city -- can significantly affect your rate.
Which car insurance company will offer me the cheapest rate in Henrico?
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 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. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Henrico or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?