If you’re driving in Virginia, knowing car insurance rules is essential. In Virginia, you have two options: either pay the uninsured motorist fee or get liability insurance with UM/UIM coverage. This applies to all registered motor vehicles in the state and any vehicle spending more than 30 days in Virginia. Figuring out the right type and amount of insurance can be tricky, so this guide breaks down the essential info in Virginia to keep your car legally covered without the hassle.
Types Of Coverage Required In Virginia
In Virginia, car insurance policies require several types of coverage:
Liability Coverage
Liability Coverage is a crucial part of your car insurance policy in Virginia. As mandated by law, it comprises two parts: Bodily Injury Liability and Property Damage Liability.
Bodily Injury Liability
Bodily Injury Liability protects you in case you cause an accident resulting in injuries to other people. The policy pays for the medical expenses, lost wages, and any legal fees if you’re sued. The required minimum insurance requirements are $30,000 for injuries to one person and $60,000 for injuries to multiple people per accident.
Property Damage Liability
Property Damage Liability kicks in when you cause an accident that damages someone else’s property. This could be their car, home, or other structures. The policy will cover repair or replacement costs up to your coverage limit, which must be at least $20,000 in Virginia.
Remember, these merely represent the legal minimums. If the costs exceed your coverage limits, you will be responsible for paying the difference. Therefore, it’s often a good idea to carry more than the minimum coverage to protect your financial well-being in the event of a significant accident.
Uninsured Motorist Coverage
Uninsured Motorist coverage (UM) in Virginia is crucial to your car insurance policy. It steps in to cover medical expenses and property damage when you’re involved in an accident with an at-fault driver without insurance. For instance, if the other driver is responsible for the accident but doesn’t have insurance to cover your damages, your UM coverage would take care of these costs.
The mandatory minimum for UM coverage in Virginia is $30,000 per person, $60,000 per accident for bodily injury, and $20,000 per accident for property damages.
However, depending on your financial situation, it may be wise to consider higher limits. Remember, the objective of your insurance policy should be to protect your financial well-being, not merely to meet the bare minimum legal requirements.
Should You Increase Your Coverage?
Although the legal stipulations for auto insurance in Virginia demand a liability coverage of 30/60/20, we strongly advocate for selecting a policy with coverage limits of at least 100/300/50. Yes, it might imply a slightly elevated annual premium, but the comprehensive safeguarding it provides far outweighs an auto insurance policy that merely complies with the basic insurance requirements of Virginia.
Why Should You?
Increasing your coverage takes into account several factors. The primary one is your potential financial risk if you were found at fault in a severe accident. The costs can quickly exceed the minimum liability coverage limits in such situations. Therefore, investing in higher coverage levels could be beneficial to safeguard your assets.
Additionally, if you frequently drive in high-traffic areas or have a long commute, the likelihood of getting into an accident might be higher, which should factor into your decision.
One should also consider the value of their vehicle. Comprehensive and collision coverage could help protect your investment if it’s relatively new or high-value.
Remember, the goal of insurance is to shield you from significant financial loss. As such, it’s important to balance the cost of premiums with the potential risk.
Proof Of Car Insurance
In Virginia, you are legally required to provide proof of car insurance or payment of the uninsured motor vehicle fee whenever you are stopped by a law enforcement officer, involved in an accident, or registering your vehicle.
Accepted forms of proof include an insurance ID card issued by your insurer, a declaration page, or a certificate of self-insurance. In the digital age, Virginia also accepts electronic proof of insurance, meaning you can show an officer your proof of coverage via your insurer’s mobile app or a photo of your insurance card. If you’re unable to provide proof of insurance when requested, penalties can range from hefty fines to suspension of your driver’s license or registration. It’s crucial to remember that car insurance isn’t just a good idea — it’s the law — and maintaining proof of your coverage is part of your responsibilities as a driver.
Optional Car Insurance Coverage Available In Virginia
Collision Coverage
Collision coverage pays for the damage to your car resulting from a collision with another vehicle or object. This coverage applies regardless of who is at fault in the accident.
Rental Car Reimbursement
Rental car reimbursement covers the cost of a rental car while your vehicle is being repaired after an accident. Note that this coverage only applies if the damage to your car is covered under your car insurance policy.
Towing And Labor Costs
Towing and labor cost coverage pays for towing charges if your car can’t be driven. It also covers labor charges, like changing a flat tire or jump-starting your battery.
Gap Insurance
Gap insurance helps pay off your auto loan if your car is totaled or stolen and you owe more than the car’s depreciated value. This is crucial if you have a lease or loan on your vehicle.
Medical Payments Benefits
Medical payment coverage helps pay medical costs for you and your passengers in the event of a car accident, regardless of who is at fault. This coverage can also pay for funeral expenses.
Penalties For Driving Without Insurance In Virginia
In Virginia, operating a vehicle without valid insurance or payment of the Uninsured Motor Vehicle (UMV) fee is considered a serious offense. Violators could face severe penalties. If you’re caught driving without proof of insurance, you may be fined $500, and your vehicle registration and driving privileges may be suspended. In order to reinstate these, you’ll have to pay a $145 reinstatement fee, secure valid insurance, and maintain an SR-22 (a form that provides proof of financial responsibility) for three years. Additionally, if you were uninsured at the time of an accident, regardless of whether you were at fault, you’ll face a statutory fee of $500, a suspension of your driver’s license, registration, and license plates, and you will be required to file an SR-22 for three years. These penalties underscore the importance of maintaining continuous, valid, and adequate auto insurance coverage in Virginia.
Virginia Uninsured Motor Vehicle Fee
For those who choose not to purchase car insurance, Virginia offers an alternative in the form of the Uninsured Motor Vehicle (UMV) fee. This fee allows you to legally drive without car insurance by paying a $500 annual fee. However, this does not provide any insurance coverage for damages or injuries you may cause in an accident. It is essentially a way to avoid paying for car insurance, but it comes with significant risks. If you cause an accident and do not have insurance or have not paid the UMV fee, you could face steep financial consequences and potential legal action.
Finding Affordable Car Insurance
There are multiple strategies you can implement to maintain an affordable car insurance premium. The cost of auto insurance can fluctuate based on many circumstances. Here are several factors that may change your auto insurance premium:
- Age and gender
- Driving record
- Vehicle type, age, and condition
- Location (city vs. rural)
- Credit score
- Deductible amount chosen
- Insurance coverage chosen (e.g., liability, comprehensive, collision)
- Available discounts (such as good student, multi-car, or safe driver discounts)
- History of insurance (if you have gone without car insurance for periods of time, this can make you a high-risk driver when purchasing car insurance)
Shop around and compare quotes from different insurance companies to find the best deal. Also, discuss any available discounts with your insurance company.
Virginia Car Insurance – It’s the Law
Securing adequate car insurance in Virginia is not simply a legal obligation but a financial safeguard. Without proper coverage from an insurance carrier, drivers expose themselves to potential financial and legal consequences in the event of an accident. When selecting insurance, it’s crucial to balance affordability with comprehensive coverage, taking into account personal factors such as driving habits, vehicle value, and potential financial risk. Remember that insurance isn’t just about meeting legal requirements—it’s about protecting yourself, your loved ones, and your financial future.
The Law Firm of Chaikin, Sherman, Cammarata, & Siegel P.C. Is Here For You
If you have been involved in a car accident and are dealing with insurance companies, it’s important to have experienced legal professionals on your side. The Law Firm of Chaikin, Sherman, Cammarata, & Siegel P.C. has over 85 years of combined experience advocating for the rights of accident victims in Virginia and the surrounding areas. Our attorneys understand the complexities of insurance laws and can help you navigate through the process to ensure you receive the compensation you deserve. Contact us today for a free consultation to learn more about how we can help protect your rights and get you back on track after a car accident.
