News & Press Releases

Christiansburg Ranked No. 4 Least Expensive ZIP Code for Car Insurance

Apr 20, 2015, 10:28 AM

Christiansburg ranked No. 4 least expensive
ZIP code in U.S. for car insurance

~High ranking attributed to quality of life factors such as
lower risk for auto theft, collision and vandalism~

April 20, 2015

Montgomery County, Virginia
Economic Development Department


Montgomery County, Virginia – Christiansburg ZIP code 24073 has the fourth lowest average car insurance rate in the U.S., according to a recent survey commissioned by The study examined over 33,000 U.S. ZIP codes by calculating rates from six major carriers, including Allstate, Farmers, GEICO, Nationwide, Progressive and State Farm.

At $751 per year, the 24073 ZIP code average was 39% less than the national average of $1,231. The 24073 ZIP code is located in Montgomery County and encompasses 88.75 square miles, including all 14.38 square miles of the Town of Christiansburg. According to, just under 30,000 people live in the 24073 ZIP code.

U.S. 460 Bypass in Christiansburg

“The ranking is an excellent example of how our overall quality of life and cost of living are intertwined,” said Brian Hamilton, Economic Development Director for Montgomery County. “Car insurance is less expensive in Montgomery County because it is a safe community with lower risk for auto theft, collision and vandalism.”

According to, insurance companies assess many factors when setting rates, and location is chief among them. Based on the number and severity of car insurance claims within the area, insurers assign ZIP codes different risk levels. This is used as the base rate from which insurers begin to calculate premiums for individuals and businesses.

Regionally, the Blacksburg-Christiansburg-Radford Metropolitan Statistical Area (MSA) - known locally as the New River Valley - is consistently recognized as a safe community. A 2013 article on about auto theft found that the Blacksburg-Christiansburg-Radford MSA had the seventh lowest rate in the country. Farmers Insurance Group also ranked the MSA the No. 7 Most Secure Small Metro in 2013.

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mcded logo blueMontgomery County, Virginia - home of Virginia Tech and the towns of Blacksburg and Christiansburg - is a progressive, technology-driven community with an abundance of outdoor amenities. The Montgomery County Economic Development Department actively supports the startup, retention and expansion of companies in Montgomery County as well as the recruitment of new businesses to the community.  To learn more, visit

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The Montgomery County Department of Economic Development (MCDED) offers a number of free and confidential services and resources to help companies large and small. We welcome the opportunity to provide direct assistance to companies interested in starting, expanding or relocating a business in Montgomery County, Blacksburg and Christiansburg. Contact us today!