Lowest Premium
$339 / YEAR
Average Premium
$406 / YEAR
Highest Premium
$525 / YEAR
The average annual premium in Salem is around $406 and can go upto $525. This is for a 30 year old female buying 50/100/50 coverage which is considered as the minimum liability.
Minimum coverage requirement in Virginia - By law, the state requires a minimum of 25/50/20 for auto insurance as explained below:
- $25,000 coverage for all types of bodily injury suffered by one individual in one accident
- Bodily injury suffered by two or more people is $50,000. The amount is the same for deaths of two or more people caused by one accident
- $20,000 for damage to the property of other people.
- $25,000/$50,000 for Uninsured/underinsured motorist bodily injury
- $20,000 for Uninsured/underinsured motorist property damage
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Car Insurance Companies in Virginia and Rates Offered
The cheapest car insurance rates in the state are provided by Geico Insurance followed by Allstate Insurance. But the major players are State Farm, Allstate, and Nationwide insurance in order.
Company | Annual premium (50/100/50) | Market share | Ranking |
---|---|---|---|
Geico | $368 | 1.5% ($189,664,981) | 88 |
Allstate | $371 | 2.58% ($326,945,631) | 87 |
State Farm | $380 | 6.26% ($793,791,726) | 90 |
Nationwide | $407 | 2.17% ($275,171,658) | 89 |
Progressive | $533 | 1.58% ($200,167,406) | 89 |
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Car Insurance Rates in Salem by ZIP codes
The table below lists the average insurance rates for 50/100/50 (minimum liability) accross the zip codes in Salem. We have omitted the zip codes that has same insurance rates. If your zip code is not listed in the table, please refer to the zip code near to you since the insurance rates will be same as of the neighbouring zip code.
Zip | Avg. Premium |
---|---|
24153 | $406 |
24155 | $434 |
Insurance Agents in Salem, VA and Near by
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0 miHettie Barnes15 S College Ave, Salem, VA 24153(540) 389-3200View |
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0 miHumphrey Stump & Haynie Insurance100 E Main St, Salem, VA 24153(540) 389-2327View |
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0 miCraighead-Zimmerman & Associates27 E Clay St, Salem, VA 24153(540) 389-1203View |
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0 miRoger Rakes41 W Main St, Salem, VA 24153(540) 387-3121View |
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0 miDarrell Holland205 W Main St, Salem, VA 24153(540) 389-1220View |
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0 miLarry Wills & Associates Company158 W 4th St, Salem, VA 24153(540) 389-8500View |
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0 miStamus Insurance Agency1014 E Main St, Salem, VA 24153(540) 387-0770View |
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0 miDon Bishop917 S Colorado St, Salem, VA 24153(540) 389-7255View |
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0 miTyler Gallimore1203 Texas St, Salem, VA 24153(540) 765-2801View |
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0 miBill Richards411 Apperson Dr, Salem, VA 24153(540) 387-2527View |
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0 miChris Huff415 Apperson Dr, Salem, VA 24153(540) 389-0294View |
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0 miRyan G Harris603 Apperson Dr, Salem, VA 24153(540) 375-9078View |
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0 miJosh Morris1451 W Main St, Salem, VA 24153(540) 404-3694View |
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0 miJason Hamby221 Electric Rd, Salem, VA 24153(540) 375-2757View |
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0 miTrustPoint Insurance1109 Electric Rd, Salem, VA 24153(866) 276-9622View |
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0 miAgee & Associates1621 E Main St, Salem, VA 24153(540) 387-0281View |
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0 miBurgess Demarco & Flick730 Apperson Dr, Salem, VA 24153(540) 375-3231View |
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0 miRichard Patterson1540 Apperson Dr Ste A, Salem, VA 24153(540) 389-1533View |
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0 miErie Insurance - Williamson Insurance Agency1895 Woodmere Ct, Salem, VA 24153(540) 387-3743View |
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0 miErie Insurance - Phipps Insurance Services2243 W Main St, Salem, VA 24153(540) 387-9148View |
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0 miTimmermann Insurance Service2035 Cook Dr, Salem, VA 24153(540) 774-5918View |
Learn More About Car Insurance in Salem, VA
Methodology
The insurance rates mentioned in this article is based on the average amount for a 30 year old female purchasing 50/100/50 ($50,000 for injury liability for one person, $100,000 for all injuries and $50,000 for property damage in an accident) liability car insurance coverage. The premium rate can be higher or lower than the rates specified depending on the type of coverage one may choose, deductibles applied and the discounts offered by insurance company.