There are certain drivers insurance liabilities that are required to be put forth as per the Virginia auto insurance laws is one of the significant aspects a senior citizen needs to consider before selecting the auto insurance policy in Virginia.
To begin with selecting the auto insurance in Virginia, one needs to knowledgeable about Virginia financial accountability specifications which are cited below. The least amount of liability insurance coverage needed to meet the Virginia auto insurance laws is 30,000/60,000/25,000. Consequently, the insurance policy insurance against accidental loss with the senior citizen is at-fault needs to be at least of:
• Thirty thousand dollars ($30,000) due to physical injury to or loss of life of one person in any one accident
• Sixty thousand dollars ($60,000) due to physical injury to or loss of life of two or more persons in any one accident, subject to the thirty thousand dollar ($30,000) per person limit
• Twenty-five thousand dollars ($25,000) due to physical injury to or damage to property of others in an accident
Under Virginia auto insurance laws, one needs to offer documentary proof of Monetary Accountability in the following incidents:
• At the request of a law enforcement officer at the time of an accident or traffic stop
• At the time of vehicle registration
• At the time of driver’s license issuance
In order to make certain that drivers maintain the Financial Responsibility specifications, car insurance companies in Virginia need to show weekly report to the Virginia vehicle identification system, which shows the Vehicle Identification Number (VIN) of each and every single vehicle insured under an existing policy. If any individual fails to abide by the Virginia Financial Responsibility specifications, following are the penalties levied:
Inability to manage proper insurance premiums can result in the driver’s license suspension along with fines. Convicted drivers are compelled to pay a surcharge fee of $250 annually as per the Virginia Driver Responsibility Program. This surcharge is over and above any sort of other costs connected with the driving offenses and must be paid yearly for the next three (3) years. One may even be required to file an SR-22 or SR-22A.
Certificate of Financial Responsibility (SR-22 or SR-22A):
An SR-22 or SR-22A is a Financial Responsibility Certificate awarded by the insurance company to the Virginia Department of Public Safety (DPS) to show the liability insurance purchase by the driver. Drivers who are convicted of any of the below mentioned offenses could require paying for an SR-22 or SR-22A to restore their license:
• Driving despite inebriated
• Drug offense
• Driving even if the license lies suspended/invalid
• 2nd or another ticket for no liability insurance
If an individual is necessitated to keep up with the Financial Responsibility Certificate, the insurance company must offer the DPS with a minimum of six (6) days prior notice prior to the cancellation. The insurance company will only issue a Virginia SR-22 or SR-22A to Virginia residents as per the Virginia Auto Insurance Laws. Don’t fail to compare the existing premiums being offered by different insurance companies by simply entering the zip in the box on top of the page.
