Virginia is for lovers, but if you’re not complying with the car insurance laws in the state, love from the state is probably not what you will feel. Car insurance is required in Virginia, but you do have option. If you would rather not add the state required coverage to your life, you can pay a fee to the Virginia Department of Motor Vehicles that allows you to drive without insurance. For most people, purchasing the required state insurance is the best solution. If you pay the fee you are still responsible for any and all damages that result in an accident, which can easily add up to thousands of dollars.
Virginia Car Insurance Requirements
To be a legal driver in Virginia, your car insurance policy should include the following amounts of coverage:
- Bodily Injury: $25,000/ $50,000
- Property Damage: $20,000
If you feel that these amounts are too low, you always have the option of adding higher amounts to your policy.
Should you choose not to insure, a fee of $500 must be paid to the Virginia Department of Transportation. This fee allows you to drive without auto insurance (in the state) for a period of 12 months.
Optional Car Insurance in Virginia
Law requires the car insurance above. The following types of coverage are available, but not required by the state. It is a good idea to talk to your insurance agent to learn whether these policies can benefit you.
Factors Affecting Virginia Car Insurance Rates
Your Virginia auto insurance rates are determined by several different factors. It is a combination of those factors that tell the insurance company if it is safe to insure you, or if you will be a high-risk driver. Some of the factors used to determine your risk categorization include:
Age: Under 27? Expect your insurance to cost more.
Marital Status: Married couples pay less for their coverage.
Driving Record: Even one ticket or accident could cause the cost of your insurance coverage to skyrocket. Stay safe, stay clean.
Insurance Record: If you have a history of policy lapses, expect to throw out more cash for coverage.
Type of Vehicle: Certain cars cost more to insure than others. This includes sports and luxury cars, as well as vehicle on the most commonly stolen list like the Honda Civic and Chevrolet pickup truck.
Where you live: Virginia drivers who are enjoying the city life will pay more than their rural neighbors.
Educational Background: A college degree gets you lower auto insurance rates.
Company you insure with: Insuring with the wrong company could be costly. Compare policies and rates with a minimum of three to four companies before a policy is purchased to ensure that you are getting the best rates possible.
Virginia Car Insurance Discounts
There are a number of auto insurance discounts available to drivers in Virginia. Using these discounts greatly reduces your premium cost, with potential savings of as much as 40%. Some of the available discounts you might qualify for include:
- Loyal Customer discounts
- Safe Driver discounts
- Multi-Policy discounts
- Multi-Car discounts
- Good Student discounts
- Homeowners discounts
Ask your insurance agent about these discounts and others that might be available. Why miss out on such tremendous savings?
Virginia Car Insurance Quick Facts
Virginia uses an electronic verification system that verifies you have the proper amounts of auto insurance in place. It is the job of your auto insurance company to report your coverage to the state department. This is required by law. It is still essential to carry proof of auto insurance coverage with you at all times. Doing so makes it easy to exchange information with the other driver and more.