There are so many regulations on auto insurance in Virginia. The state has some of the stricter auto insurance laws in the country. Their population has steadily grown since 1980 and is now above 8 million. Where, on the other hand, they also have fewer issues when it comes to driving the accidents that happen within driving. In Virginia you must have insurance or pay the fee to be uninsured, this includes antique cars and automobiles as well. You must be insured by a company able to do business within Virginia as well. Virginia has made sure that their drivers have a safe and hospitable environment to enjoy their vehicle.
In the last 10 years, the number of drivers in Virginia has increased by about 500,000 and their number of cars insured has increased by about 1.1 million. Taking this in to consideration one would think that, of course, their number of accidents and auto related deaths has also increased. That is most definitely not the case. Their number of crashes has decreased across the board. This in turn has decreased the number of auto related deaths and injuries by an impressive percentage. Virginia’s number of crashes both, alcohol related and non-alcohol related, has dropped by about 30%. This greats a growing domino effect where injuries and deaths also decreased.
Virginia has some basics that your insurance provider must meet one of these is that the provider has to be authorized to conduct business within Virginia. The company must also provide electronic updates for any major changes in your insurance, such as a cancelation of insurance or a decrease in coverage. If you drop your insurance you must take one of three actions; you must reinsure the vehicle, pay the fee for an uninsured vehicle, or surrender your licensing plates. The fee for an uninsured vehicle is 500$ as well as needing to complete the necessary paper work. There is also an option to self-insure your vehicle, and for that information you must contact the local DMV where the details are readily available. Virginia’s State Corporation Commission (SCC) is present to help keep a balance between customer, business, state and stockholders. They are also present to help protect their citizens, the business’s customers. They are who approves a business to operate within Virginia.
In most states you are required to have at least liability insured on your vehicle, in Virginia you must have all of the following; bodily injury/death of one person to $25,000, bodily injury/death of two people $50,000, and property damage $20,000. These are minimal and you are suggested to have greater coverage than the bare minimal. You must then have the insurance verified. There are sever items that you will need to do this, but none of them are unreasonable. A license to operate, proof that you own the vehicle, proof on insurance and proof of registration within Virginia.
By this information, it is very reasonable that Virginia would offer a few more bells and whistles to keep their drivers safe. An honest observation says that Virginia is one of the safest and strictest states to drive in. By entering your zip code above, you can compare your auto insurance in Virginia to others in the local area.
