Virginia Car Insurance

virginia

Like almost every other state, Virginia does require drivers to have car insurance.  How much car insurance do you need to satisfy the minimum requirement? CarInsuranceReviews.com has all of the information you need to understand Virginia’s insurance requirements before you start searching for competitive quotes from insurance companies in your area. We’ll make it easy to find the right coverage to suit your needs.

How to Establish Financial Responsibility in Virginia

There is only one choice for owners of private passenger vehicles in Virginia.  You must purchase car insurance from a company that is licensed to do business in the state of Virginia.  While the state does allow alternative options, such as surety bonds, cash or securities, or self-insurance for some types of vehicles, these options are not extended to the owners of private passenger vehicles.

Virginia does offer one incredibly unusual alternative.  You may go ahead and register your vehicle without proof of insurance if you pay an Uninsured Motorist Fee (UMF).  This fee is $500 and does not provide you with any financial protection whatsoever.  If you are involved in an accident, the financial responsibility will be entirely on you.

Insurance Minimums for Private Passenger Vehicles

Most Virginia drivers are not willing to take the financial risks faced by choosing the UMF, so they buy car insurance.  The minimum bodily injury liability coverage required by Virginia law is $25,000 per person and $50,000 per accident. You must also carry at least $20,000 in property damage liability.

These amounts are only for liability coverage, which will not protect your vehicle should you be involved in an accident.  You may want to consider additional coverage if you want to make sure your car will be repaired or replaced if it is damaged in an accident you cause.

Once your car is registered with the DMV, you must maintain the insurance coverage, even if that vehicle is no longer operable.  The DMV maintains electronic records of all the insurance policies for registered vehicles in the state of Virginia.  If you change car insurance companies or allow your policy to lapse or be canceled, the insurance company will automatically notify the DMV. You must turn in your license plates and cancel your registration if you want to cancel your insurance coverage.

The Penalties for Driving without Insurance

Driving without insurance isn’t worth the risk. If it is discovered that you do not have car insurance (or have not paid the UMV fee) you could have your driver’s license, license plate, and your registration suspended. If this happens, you’ll have to pay a statutory fee of at least $500 in addition to the reinstatement fees for your license and vehicle registration. You’ll also be required to file an SR-22 form each year for three years, classifying you as someone who has driven without insurance in the past. This may cause your insurance rates to rise as well.

CarInsuranceReviews.com Can Help You

You can spend a lot of valuable time chasing down car insurance quotes on your own.  CarInsuranceReviews.com wants to streamline the process.  We’ll help by putting you in touch with insurance carriers in your area so they can give you their best quotes.  All you’ll have left to do is compare the quotes and determine which one is the right fit for your needs.

Don’t put if off.  Fill in your zip code in the form below and we’ll get to work finding insurance agencies for you.  It’s just that easy.

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