Roanoke Has Best Auto Insurance Rates in Virginia

From ValuePenguin.com

A study showing that Roanoke’s auto insurance rates are the lowest in Virginia was just released by ValuePenguin.com.  Combined with a cost of living that is 8 percent below the national average and a cost of doing business that is 15 percent below the national average individuals and businesses stand to save on their bottom lines by moving to Roanoke.

From Chesapeake Bay and the Hampton Roads on its eastern coast to the Shenandoah Valley, the Blue Ridge Mountains, and the Heart of Appalachia on its westernmost reaches, Virginia measures more than 42,700 square miles in size. Crisscrossing the Old Dominion are 58,000 miles of interstate highways, local connector, and county roads, as well as some 17,000 miles of urban streets and local roads. Driving here is a both a way of life and a means of transportation, as the state’s 5.7 million licensed drivers know.

ValuePenguin.com analyzed sample car insurance premiums in the state to give consumers an idea of the best auto insurance rates in Virginia. We studied car insurance rates by company, city, and profile, and found the overall average to be $2,737 for a standard liability protection. While this was the mean blended premium, we found that rates could vary quite widely. In fact, for the same driver profile, we saw the difference between the minimum and maximum car insurance costs to be as much as 7x. We’ve compiled tables below to rank cities and insurers in the state by premiums to guide Virginia residents in their search for the best car insurance rates.
 
The areas sampled in the study represent a blend of the state capital, large cities, and smaller rural areas. In general, across cities, there was not much variation in the cost of insurance across the 25 underwriters and three driver profiles in the study. Roanoke, with a population of 97,000 was the cheapest place to insure a car at $2,364 a year. Alexandria, the most expensive city in the sample, was 23% more expensive.
 
  Single Female, 20 Single Male, 20 Married Adult, 40 Average
Alexandria $3,106 $4,152 $1,492 $2,917
Richmond $2,947 $3,920 $1,429 $2,765
Virginia Beach $2,801 $3,714 $1,358 $2,624
Norfolk $3,060 $4,064 $1,493 $2,872
Roanoke $2,514 $3,353 $1,226 $2,364
Average $2,909 $4,077 $1,531 $2,879

See ValuePenguin.com for more.