auto insurance Virginia
Navigating the auto insurance world can be daunting, especially with Virginia’s unique requirements and options. As an independent insurance agent with Blake Insurance Group, I aim to simplify this process for you. Whether you’re a new driver or a seasoned motorist, understanding the intricacies of auto insurance in Virginia is crucial to ensuring you’re adequately protected on the road.
In this article, we’ll explore everything from the state’s minimum coverage requirements to the various types of policies available, helping you make informed decisions that suit your individual needs and budget. Let’s dive in and demystify the essentials of auto insurance in the Old Dominion State.
Virginia Auto Insurance Requirements
Minimum Coverage Requirements
In Virginia, the minimum auto insurance coverage requirements have been set to ensure that drivers have adequate protection in the event of an accident. As of now, the minimum liability coverage includes:
– **Bodily Injury Liability**: $30,000 per person and $60,000 per accident.
– **Property Damage Liability**: $20,000 per accident.
– **Uninsured/Underinsured Motorist Bodily Injury**: $30,000 per person and $60,000 per accident.
– **Uninsured/Underinsured Motorist Property Damage**: $20,000 per accident.
These requirements are part of a phased increase that began on January 1, 2022. The next planned increase will take effect on January 1, 2025, raising the bodily injury liability to $50,000 per person and $100,000 per accident, and property damage liability to $25,000 per accident. These changes will also apply to uninsured motorist coverage.
Uninsured Motorist Fee
Virginia offers an alternative to purchasing insurance through the option of paying a $500 uninsured motorist fee. This fee allows drivers to legally operate a vehicle without insurance, but it does not provide any financial protection in the event of an accident. Paying this fee satisfies the state’s financial responsibility law but leaves drivers vulnerable to potential liabilities and expenses if they are involved in an accident.
Types of auto insurance coverage available
**Liability Coverage**:
– **Bodily Injury Liability**: Covers medical expenses for other drivers and passengers if you cause an accident.
– **Property Damage Liability**: Covers damage to other people’s property if you cause an accident.
**Uninsured and Underinsured Motorist Coverage**:
– **Uninsured Motorist Coverage**: Pays for your medical bills or repairs if a driver hits you without insurance.
– **Underinsured Motorist Coverage**: Pays for your medical bills or repairs if a driver with insufficient insurance hits you.
**Comprehensive Coverage**:
– Covers damage to your vehicle from incidents other than collisions, such as theft, fire, hail, or vandalism.
**Collision Coverage**:
– Pays for damage to your vehicle if you are involved in an accident, regardless of who is at fault.
**Medical Payments Coverage**:
– Covers initial medical expenses for you and your passengers, regardless of who is at fault.
**Personal Injury Protection (PIP)**:
– Covers medical expenses and other related costs, such as lost wages or childcare expenses, following an accident.
Additionally, several optional coverages can be added to a policy, including:
– **Rental Car Reimbursement**: This covers the cost of renting a car while your vehicle is being repaired.
– **Gap Coverage**: Pays the difference between the actual cash value of your vehicle and the amount you owe on your loan or lease if your car is totaled.
– **Original Parts Replacement**: Ensures your vehicle is repaired with original manufacturer parts.
– **Accident Forgiveness**: Prevents your insurance rates from increasing after your first accident.
**Lifetime Repair Guarantee**: This guarantee ensures that repairs made to your vehicle will be covered for as long as you own the vehicle.
– **Roadside Assistance**: Help with towing, battery jumps, and other roadside emergencies.
– **New-Car Replacement**: Pays for a brand-new car of the same make and model if your vehicle is totaled.
– **Full Glass Coverage**: Covers repairing or replacing chipped or broken window glass.
– **Rideshare Insurance**: Provides coverage when driving for rideshare services.
– **Mechanical Breakdown Coverage**: Pays for repairs or replacement parts if your vehicle breaks down.
– **Custom Parts and Equipment Value Coverage**: Covers the repair or replacement of custom parts and equipment.
**Classic Car Insurance**: This policy covers repairs on classic or antique cars and insures them for their full appreciated value.
– **Business or Commercial Auto Insurance**: Covers vehicles used for commercial or small-business purposes.
How much is auto insurance In Virginia
The average cost of auto insurance in Virginia varies depending on several factors, including age, credit score, and the type of coverage chosen. Here are some key points from the search results:
– **Average Annual Cost**: Virginia’s average annual cost of full coverage car insurance is around $1,781 per year or $148 per month.
– **Minimum Coverage**: The average annual cost is $675 per year for minimum coverage.
– **Age Impact**: Insurance rates can vary significantly by age. For example, a 16-year-old driver pays an average of $6,984 per year, while a 35-year-old driver pays an average of $1,781 per year.
– **Credit Score Impact**: Drivers with poor credit scores pay significantly more than those with excellent credit. For instance, drivers with poor credit pay 154% more than those with excellent credit.
– **Vehicle Type Impact**: The type of vehicle also affects insurance rates. For example, a Honda Odyssey has one of the cheapest average rates at $1,802 per year, while a BMW 330i is more expensive at $2,489 per year.
– **Cheapest Providers**: Some of the cheapest car insurance companies in Virginia include State Farm, Erie, Virginia Farm Bureau, Travelers, and USAA.
Average Auto Insurance Rates in Virginia
| City | Average Monthly Rate | Average Annual Rate |
|---|---|---|
| Alexandria | $89 | $1,073 |
| Arlington | $83 | $996 |
| Bailey's Crossroads | $98 | $1,178 |
| Charlottesville | $84 | $1,018 |
| Chesapeake | $85 | $1,027 |
| Danville | $86 | $1,036 |
| Fairfax | $86 | $1,043 |
| Fredericksburg | $85 | $1,026 |
| Hampton | $86 | $1,041 |
| Harrisonburg | $72 | $869 |
| Herndon | $82 | $986 |
| Leesburg | $83 | $996 |
| Lynchburg | $78 | $947 |
| Manassas | $86 | $1,038 |
| Newport News | $85 | $1,026 |
| Norfolk | $96 | $1,153 |
| Petersburg | $85 | $1,028 |
| Portsmouth | $91 | $1,096 |
| Richmond | $91 | $1,100 |
| Virginia Beach | $85 | $1,021 |
Legal and Financial Considerations
SR-22 and FR-44 Requirements
In Virginia, drivers who have been convicted of certain violations are required to obtain either an SR-22 or FR-44 certificate. These certificates serve as proof of financial responsibility and ensure that drivers have the necessary insurance coverage.
– **SR-22 Requirements**:
– Unsatisfied judgments
– Failure to provide proof of insurance
– Operating a motor vehicle without insurance
– Falsifying auto insurance certifications
– Convictions for vehicular manslaughter, perjury, or felonies involving a motor vehicle
– Hit-and-run incidents
– Maiming under the influence, driving under the influence, driving with a suspended license, or being convicted in any juvenile case
– **FR-44 Requirements**:
– Maiming while under the influence
– Driving under the influence of drugs/alcohol
– Driving while the driver’s license has been forfeited for a conviction or a guilty conviction in a juvenile case
– Violation of the provisions of any federal law or law of any other state or any valid local ordinance similar to the violations as mentioned above
At-Fault Insurance System
Virginia operates under an at-fault insurance system, meaning the driver responsible for an accident is liable for the damages. This system is combined with a contributory negligence law, which states that if a driver is found to be even partially at fault for an accident, they cannot recover damages from the other party. This law affects how claims are handled after an accident, emphasizing the importance of having adequate insurance coverage.
top auto insurance companies in Virginia
State Farm
* Average monthly rate: $70
* Average annual rate: $838
* Coverage options:
+ Liability coverage
+ Collision coverage
+ Comprehensive coverage
+ Uninsured/underinsured motorist coverage
+ Personal injury protection
* Customer satisfaction:
+ J.D. Power score: 863
+ Bankrate score: 4.3
* Discounts:
+ Multi-car discount
+ Good student discount
+ Defensive driving course discount
+ Anti-theft device discount
State Farm is one of the largest auto insurance companies in the US, with a wide range of coverage options and discounts available. They have a strong reputation for customer satisfaction, with high scores from J.D. Power and Bankrate.
USAA
* Average monthly rate: $73
* Average annual rate: $876
* Coverage options:
+ Liability coverage
+ Collision coverage
+ Comprehensive coverage
+ Uninsured/underinsured motorist coverage
+ Personal injury protection
* Customer satisfaction:
+ J.D. Power score: 877
+ Bankrate score: 4.4
* Discounts:
+ Multi-car discount
+ Good student discount
+ Defensive driving course discount
+ Military discount
USAA is a highly rated auto insurance company that specializes in serving military members and their families. It offers a wide range of coverage options and discounts and has a strong reputation for customer satisfaction.
Main Street America
* Average monthly rate: $80
* Average annual rate: $960
* Coverage options:
+ Liability coverage
+ Collision coverage
+ Comprehensive coverage
+ Uninsured/underinsured motorist coverage
+ Personal injury protection
* Customer satisfaction:
+ J.D. Power score: N/A
+ Bankrate score: N/A
* Discounts:
+ Multi-car discount
+ Good student discount
+ Defensive driving course discount
+ Anti-theft device discount
Main Street America is a smaller auto insurance company offering various coverage options and discounts. While it doesn’t have a J.D. Power or Bankrate score, it has a reputation for providing affordable coverage to drivers in Virginia.
Travelers
* Average monthly rate: $86
* Average annual rate: $1,032
* Coverage options:
+ Liability coverage
+ Collision coverage
+ Comprehensive coverage
+ Uninsured/underinsured motorist coverage
+ Personal injury protection
* Customer satisfaction:
+ J.D. Power score: 840
+ Bankrate score: 4.2
* Discounts:
+ Multi-car discount
+ Good student discount
+ Defensive driving course discount
+ Anti-theft device discount
Travelers is a well-established auto insurance company offering various coverage options and discounts. They have a strong reputation for customer satisfaction, with high scores from J.D. Power and Bankrate.
Auto-Owners
* Average monthly rate: $88
* Average annual rate: $1,056
* Coverage options:
+ Liability coverage
+ Collision coverage
+ Comprehensive coverage
+ Uninsured/underinsured motorist coverage
+ Personal injury protection
* Customer satisfaction:
+ J.D. Power score: 827
+ Bankrate score: 4.0
* Discounts:
+ Multi-car discount
+ Good student discount
+ Defensive driving course discount
+ Anti-theft device discount
Auto-Owners is a smaller auto insurance company offering various coverage options and discounts. While they don’t have the highest scores from J.D. Power and Bankrate, they have a reputation for providing affordable coverage to drivers in Virginia.
Geico
* Average monthly rate: $82
* Average annual rate: $980
* Coverage options:
+ Liability coverage
+ Collision coverage
+ Comprehensive coverage
+ Uninsured/underinsured motorist coverage
+ Personal injury protection
* Customer satisfaction:
+ J.D. Power score: 642
+ Bankrate score: 4.4
* Discounts:
+ Multi-car discount
+ Good student discount
+ Defensive driving course discount
+ Anti-theft device discount
Geico is a well-known auto insurance company offering various coverage options and discounts. They have a strong reputation for customer satisfaction, with high scores from J.D. Power and Bankrate.
Nationwide
* Average monthly rate: $98
* Average annual rate: $1,176
* Coverage options:
+ Liability coverage
+ Collision coverage
+ Comprehensive coverage
+ Uninsured/underinsured motorist coverage
+ Personal injury protection
* Customer satisfaction:
+ J.D. Power score: 827
+ Bankrate score: 4.0
* Discounts:
+ Multi-car discount
+ Good student discount
+ Defensive driving course discount
+ Anti-theft device discount
Nationwide is a well-established auto insurance company offering various coverage options and discounts. While it doesn’t have the highest scores from J.D. Power and Bankrate, it has a reputation for providing affordable coverage to drivers in Virginia.
Progressive
* Average monthly rate: $103
* Average annual rate: $1,236
* Coverage options:
+ Liability coverage
+ Collision coverage
+ Comprehensive coverage
+ Uninsured/underinsured motorist coverage
+ Personal injury protection
* Customer satisfaction:
+ J.D. Power score: 834
+ Bankrate score: 4.2
* Discounts:
+ Multi-car discount
+ Good student discount
+ Defensive driving course discount
+ Anti-theft device discount
Progressive is a well-known auto insurance company offering various coverage options and discounts. They have a strong reputation for customer satisfaction, with high scores from J.D. Power and Bankrate.
Auto Insurance FAQs in Virginia
- Bodily injury liability coverage per person: $30,000
- Bodily injury liability coverage per accident: $60,000
- Property damage liability coverage: $20,000
- Uninsured/underinsured motorist coverage: Coverage must match your liability limits
- Asking about discounts
- Bundling policies
- Shopping around
- Finding car insurance in your city
- State Farm
- USAA
- Main Street America
- Travelers
- Auto-Owners
- Asking about discounts
- Bundling policies
- Shopping around
- Finding car insurance in your city
- Asking about discounts
- Bundling policies
- Shopping around
- Finding car insurance in your city
Blake Insurance Group
Phone: (888) 387-3687
Email: info@blakeinsurancegroup.com
Hours: Mon-Fri 9:00 am to 5:00 pm
Sat-Sun: Closed
Blake Nwosu
Owner & Principal Agent