Auto Insurance In Virginia: Understanding Minimum Coverage Requirements

Virginia requires a minimum amount of auto insurance coverage for all registered vehicles. The minimum amount of auto insurance coverage in Virginia is $25,000 per person for bodily injury, with a total maximum of $50,000 per incident, and $20,000 for damage to another person's property. These requirements are set to increase in January 2025, with the minimum amount of coverage becoming $50,000 per person for bodily injury, $100,000 per incident, and $25,000 for property damage.

Bodily injury liability

In the state of Virginia, drivers are legally required to carry a minimum amount of auto insurance coverage, which includes bodily injury liability. This type of insurance coverage is designed to protect drivers in the event of a covered accident by providing financial protection for certain expenses associated with bodily harm sustained by other parties.

The minimum requirements for bodily injury liability insurance in Virginia are currently set at $25,000 per person and $50,000 per accident. This means that if you are found legally responsible for a covered accident, your insurance policy will cover up to $25,000 of expenses for each individual who is injured, with a total maximum payout of $50,000 per incident.

It is important to note that these minimum requirements may not be sufficient for all drivers, and it is generally recommended to consider additional coverage options to ensure adequate protection. The actual cost of injuries resulting from an accident can far exceed the minimum coverage limits, leaving you financially vulnerable.

In addition to bodily injury liability insurance, Virginia also requires drivers to carry a minimum of $20,000 in property damage liability insurance per accident. This type of coverage protects you if you are found legally responsible for damaging another person's property or vehicle in a covered accident.

Property damage liability

It's important to note that property damage liability insurance only covers damage to the other person's property, not your own. If you want to be covered for damage to your own vehicle, you will need to purchase additional insurance, such as collision coverage or comprehensive coverage.

In addition to the minimum property damage liability insurance requirement, Virginia also requires drivers to carry bodily injury liability insurance, which covers medical expenses and other costs associated with bodily harm to the other parties in an accident. The minimum amount of bodily injury liability insurance required in Virginia is $25,000 per person and $50,000 per accident.

While these are the minimum coverage requirements in Virginia, it is often recommended to purchase additional insurance coverage to protect yourself financially in the event of a serious accident. Higher coverage limits can be purchased at a modest additional cost and can provide valuable peace of mind.

It's also important to understand that if you are found to be at fault for an accident, you may be legally and financially responsible for any damages that exceed your insurance coverage limits. This is why it is generally advisable to carry more than the minimum required coverage. By increasing your coverage limits, you can reduce your financial risk and ensure that you are adequately protected in the event of a costly accident.

Uninsured/underinsured motorist bodily injury

In Virginia, uninsured and underinsured motorist coverage is required on all personal automobile insurance policies. However, Virginia does not require drivers to have automobile insurance at all. An uninsured driver may pay a $500 fee to the DMV to drive without any insurance.

Uninsured motorist coverage (UIM) is insurance that will pay for your damages if you are involved in an accident with someone who does not have insurance. Underinsured motorist coverage (UM), on the other hand, will pay for your damages if you are involved in an accident with someone who has insurance, but their coverage is insufficient to cover the cost of your damages.

In Virginia, the minimum coverage for uninsured motorist bodily injury liability insurance is $25,000 per person and $50,000 per accident. Similar amounts of underinsured motorist coverage are also required if you choose to get auto insurance in Virginia. The minimums for underinsured motorist coverage include $30,000 per person (up to $60,000 per accident) in bodily injury liability coverage and $20,000 per accident in property damage liability coverage.

It is important to note that these are the minimum coverage requirements, and it is recommended to get as much coverage as possible to avoid out-of-pocket expenses in the event of an accident involving an uninsured or underinsured motorist. The more coverage you have, the less you will have to pay for your damages.

Uninsured and underinsured motorist coverage can provide financial protection and help cover your medical payments, vehicle repairs, loss of wages, and any pain or suffering you experience due to the accident. It can also protect your passengers, as they may be left to cover their own medical expenses and property damage if you do not have sufficient coverage.

Additionally, underinsured motorist coverage can be useful in other situations, such as accidents with uninsured motorists or drivers with inadequate insurance policies. It can also provide coverage in hit-and-run accidents, where the at-fault driver cannot be identified.

The cost of underinsured and uninsured motorist coverage will vary depending on factors such as the insurance company, the amount of coverage, and the deductible selected. However, this type of coverage is generally affordable and can provide valuable peace of mind and financial protection in the event of an accident.

Uninsured/underinsured motorist property damage

Virginia is one of the few states that does not require drivers to have auto insurance. Instead, drivers can opt out of car insurance by paying a $500 uninsured motorist fee to the Virginia Department of Motor Vehicles. However, uninsured and underinsured motorist coverage is required on all personal automobile insurance policies.

Uninsured motorist coverage (UIM) is insurance that covers your damages if you are in an accident with an uninsured driver. Underinsured motorist coverage (UM) is similar but applies when the other driver has insurance but it is insufficient to cover the cost of your damages.

In Virginia, the minimum coverage for uninsured motorist property damage is $20,000 per accident. This coverage is intended to cover damage or destruction of the insured's property. This can include vehicle repairs, but also medical expenses, lost wages, and pain and suffering.

The minimum coverage is not always sufficient to cover all expenses resulting from an accident. For example, if you suffer $50,000 worth of damages in an accident, and the at-fault driver only has $30,000 worth of insurance coverage, you could pursue your own underinsured motorist coverage for the remaining $20,000.

It is important to note that insurance companies may try to convince customers to opt out of UM coverage by offering lower premiums. However, the potential payout from this extra coverage in the event of an accident far outweighs any savings on premiums.

Collision and comprehensive coverages

The deductible is the amount you must pay yourself in the event of a claim. For both collision and comprehensive coverage, you can choose your deductible, typically between $100 and $2,000. The higher the deductible, the lower the premium. When selecting your deductible, determine how much you would be willing to pay out of pocket if your car was damaged. For example, if you have $500 in savings for vehicle repairs, choose a deductible of $500.

In Virginia, the cost of comprehensive coverage is usually lower than that of collision coverage. However, the price may vary depending on the insurer, your location, the value of your vehicle, and other factors. You can reduce the cost of your premium by opting for a higher deductible, or increase it by choosing a lower deductible. It is generally easier to have the same deductible amount for both collision and comprehensive coverages so that you can predict your out-of-pocket costs in the event of a claim.

The maximum payout you can expect from your insurer in the event your vehicle is totaled is equal to the actual cash value of your vehicle, minus your deductible. Some insurers may require you to purchase comprehensive and collision coverage together.

Frequently asked questions