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Auto insurance laws in Virginia maintain drivers.

Virginia auto insurance laws set minimum coverage requirements for all registered vehicles , but the laws in addition provide choices to those persons who conduct not wish to pay for auto insurance. In addition to refusing automobile registration to individuals who lack the essential insurance coverage, the express can take additional actions against anyone who allows insurance policy coverage to lapse.

With Virginia, drivers boast the option of purchasing the required minimum liability insurance policy or paying the state's Uninsured Motor Vehicle charge. The state's UMV fee yous $500. By paying this fee, the owner of a car is allowed to register the vehicle with the express. The registration finals for 12 months, and the vehicle must be reregistered after 12 months either by way of paying the UMV charge again or by providing proof about the required insurance policy coverage on the car. Individuals who choose to spend the UMV fee can still be held liable with the event of exclusive auto crash.

Minimum Coverages

To comply with Virginia law, drivers must satisfy the minimum coverage costs outlined in the law. The state's regulation requires $25,000 of coverage for bodily injury or death for some individual and $50,000 for bodily injury or dying for two or more individuals. The state also requires $20,000 of property damage coverage. All 3 are liability duty. In Virginia, you are never required to purchase uninsured and under-insured motorist coverage. Virginia is a tort state, meaning that drivers are permitted to sue additionals to recover expenses that end result from crashes with uninsured plus under-insured motorists.

Insurance Corroboration Laws

The Virginia Department regarding Engine Vehicles observes the liability insurance policy that Virginia motorists purchase. Insurance companies are required to notify the state while they concern or cancel insurance for vehicles registered in Virginia. If the state or a police officer determines insurance coverage has lapsed, this can result in suspension about your driver's license, registration and license plates. Reinstatement requires a $500 statutory charge and any $30 reinstatement fee, and the state can require you to file any SR-22 financial responsibility insurance policy certificate for three years subsequent some violation.

Other Insurance Laws

The owners of commercial vehicles boast the option in Virginia regarding self-insuring. Self-insurance policy is not available to the owners about confidential passenger automobiles. Self-insurance must be made by means of posting surety bonds, cash or securities. The Virginia Automobile Insurance Strategy was created by the express with 1945 to provide insurance coverage with persons who cannot obtain insurance policy on the wide open market. This insurance option is only available to consumers who hold some valid Virginia driver's license plus have some vehicle registered in the express. You can utilize with this insurance if you are refused insurance after checking rates by way of several different companies. You can apply to this coverage by means of each and every agent licensed to write business through the VAIP plan. Virginia regulation prohibits insurance companies away from increasing your auto insurance policy premium whereas the effect of inclusion on an vehicle accident that was not your fault.