The minimum liability car insurance requirements in Virginia are $30,000 in bodily injury liability insurance per person ($60,000 per accident) and $20,000 in property damage liability insurance. However, Virginia drivers may opt out of having car insurance if other requirements are met. If the driver pays a $500 fee with the state department of motor vehicles every time they renew their vehicle registration, they may opt out of carrying car insurance.
In addition, drivers in Virginia will need to purchase $30,000 per person, $60,000 per accident, and $20,000 property damage in uninsured/underinsured motorist coverage to satisfy the state’s minimum car insurance requirements.
If Virginia drivers do not purchase at least the minimum required coverage or follow the correct protocol in order to opt out of carrying the minimum requirements, they can face consequences for driving without insurance.
Drivers should also consider purchasing other types of car insurance in order to better protect themselves, given that liability insurance does not provide any coverage for the policyholder’s own injuries or property. For instance, both collision insurance and comprehensive insurance cover damage to the policyholder’s car. You will likely also need these types of insurance if your vehicle is financed.
You need enough liability insurance to cover your net worth. Having coverage equal to the value of the assets you own and all the money you have, minus your debt, protects you financially in case of a serious car accident.
When to Carry Only the Minimum Liability Coverage
Although almost every state requires drivers to carry liability insurance, the minimum coverage is not always enough to cover the cost of an accident. It’s always best to carry as much liability coverage as you can afford, especially if you have a high net worth. You can generally get away with a lower property damage liability limit if you want to save, however, since property damage liability claims are usually less expensive than bodily injury liability claims.… read full answer
If you don’t have many assets or think the risk is worth it, you might be comfortable with carrying only the minimum coverage. But no matter what, make sure you’re carrying enough insurance to comply with state law and avoid paying fines for driving uninsured.
Liability Limits on Auto Insurance
Liability limits on auto insurance are the maximum amount that your insurance company will pay for injuries and property damage in accidents that you cause. Liability limits are typically written as three numbers divided by slashes.
For example, Arizona’s liability coverage requirements are 50/30/10. That means drivers need to carry $50,000 in bodily injury liability coverage per person, $30,000 in bodily injury liability coverage per accident, and $10,000 in property damage liability coverage overall.
Why You Need More Liability Insurance Than the State Minimum
Your insurance company will never pay for anything beyond the limits of your policy. Using the Arizona example, if you cause an accident that leads to $70,000 in medical bills for the other driver, you will have to pay for $40,000 if you are only carrying the minimum insurance required. And if you can’t afford to pay the full amount, the other driver can sue, and you can have your assets seized or wages garnished to cover the remainder.
No, uninsured motorist coverage is not required in Virginia, since drivers are allowed to opt out of car insurance if they pay a $500 fee. If a driver chooses to get insurance, they must get $30,000 in uninsured motorist bodily injury coverage per person (up to $60,000 per accident), as well as $20,000 in … read full answeruninsured motorist property damage insurance per accident. Similar amounts of underinsured motorist coverage are also required if you choose to get auto insurance in Virginia.
Key Facts About Uninsured Motorist Coverage in Virginia
Minimum Uninsured Motorist Bodily Injury: $30,000 per person (up to $60,000 per accident)
Minimum Uninsured Motorist Property Damage: $20,000 per accident
Minimum Underinsured Motorist Bodily Injury: $30,000 per person (up to $60,000 per accident)
Minimum Underinsured Motorist Property Damage: $20,000 per accident
Uninsured Drivers on the Road: 10%
Uninsured/underinsured motorist coverage helps pay for a car accident if the at-fault driver doesn’t have enough insurance. Normally, the at-fault driver’s liability insurance pays for any property damage or injuries they caused. But if the other driver doesn’t have enough coverage, it can be time-consuming and difficult to sue them for funds to cover any bills. That’s where uninsured/underinsured motorist insurance can help save drivers time and money.
Because Virginia allows drivers to go uninsured, it’s estimated that 10% of drivers in the state don’t have car insurance. This gives you a 1 in 10 chance that the other driver won’t have insurance if you get into an accident. Car accidents in Virginia can be extremely expensive, too. For example, fatal accidents in Virginia cost a total of $1.31 billion in 2018, the latest year with CDC data.
No, personal injury protection insurance (PIP) is not required in Virginia. Virginia drivers are not required to buy car insurance at all. If a driver chooses to buy insurance, Virginia policies have medical payments insurance (MedPay) instead of PIP.
MedPay is available with your Virginia policy. This coverage helps with injuries or rehab that you may deal with after a car accident, even if you cause the accident. In that way, it’s almost identical to PIP. But unlike PIP, MedPay doesn’t usually cover extra categories of assistance like lost wages or household services if you’re injured.… read full answer
PIP & Insurance in Virginia:
No, drivers are not required to buy any insurance
Minimum coverage for medical expenses
$2,000 of MedPay
Annual cost of insurance
State accident laws
National cost ranking (1=cheap)
Virginia’s unique car insurance laws affect the annual cost of car insurance for drivers. For comparison, New Hampshire pay about $1,320 for car insurance every year. Car insurance in New Hampshire is fairly average compared to the rest of the country - it's a small but densely populated state. Insurance costs a little bit less in Virginia, if drivers choose to buy an insurance policy.
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