Virginia Auto Insurance Laws
Auto Insurance Laws and Trends in VA
Virginia is a tort insurance state. In the event of a motor vehicle accident, the at -fault party must pay for all injuries or damages incurred. This is why it is mandatory for all drivers to carry minimum liability limits.
The minimum limits in Virginia are $25,000 per person and $50,000 per accident for bodily injuries, and $10,000 per accident for property damage. It is also mandatory to carry under/uninsured motorist coverage in case you are involved in an accident with a driver who is uninsured or doesn't carry an adequate amount of insurance.
Types of Virginia auto insurance plans
In Virginia, auto insurance in offered three different ways:
- Family policy: The limits for bodily injury and property damage are separate limits.
- Special Policy: The limits are the same as for a family policy.
- Personal policy: In this type of policy, the limits for bodily injury and property damage are combined into one lump sum of $70.000.
There are also optional insurance coverage that can be purchased in Virginia. These include:
- Collision: Covers physical damages to your vehicle in the case of an at-f ault collision or rollover.
- Comprehensive: Covers physical damages to your vehicle in the case of fire, theft, vandalism, windstorm, hail, or animal collision.
- Loss of use: Covers the cost of a rental car if your vehicle is stolen or involved in a collision.
- Gap Coverage: If you have purchased or leased a new vehicle, this covers the difference in cost between the purchase price and the depreciated price if your vehicle is deemed a total loss.
- Personal Injury Protection (PIP): Covers medical expenses, funeral expenses, loss of wages, rehabilitation, dental expenses, or daycare costs. Loss of wages is covered up to $100 per week for 52 weeks.