Finding low rates on auto insurance in the state of Virginia is not as hard as it may seem. This brief summary on Virginia car insurance will help Virginia drivers choose the plan that works best for them. Scroll down for facts, stats, recent rates, and important advice on lowering the cost of Virginia auto insurance.
Virginia Minimum Liability Coverage
The minimum required insurance coverage for each vehicle owned in Virginia is 25/50/20. In other words, drivers must purchase no less than $25,000 in Personal Injury Protection (PIP), $50,000 in per-accident coverage against injuries to others, and $20,000 in coverage against property damage. So, Virginia drivers who purchase the minimum required auto insurance will get a maximum payout of $95,000 per accident. Any costs above that amount would have to be paid by other means, such as out of pocket or by other insurance policies in effect.
Penalties for Driving Without Insurance in Virginia
The penalty for driving an uninsured vehicle in the state of Virginia is the suspension of your driver’s license and vehicle registration until proof of financial responsibility is provided. You may also be faced with fines, raised premiums and registration reinstatement fees. Still, roughly one out of every nine vehicles on Virginia roads is uninsured. In fact, for a fee of $500, you can drive uninsured at your own risk for a whole year!
Auto Insurance Rates in Virginia
The average annual car insurance premium in the state of Virginia was $1,020 in 2016. The national average for that same year was $1,347. According to reports from Top50States.com, Virginia’s below average premiums may have something to do with strong economic activity, availability of insurance carriers, and relatively low accident statistics, due to the accessibility of public transportation.
Low Cost Car Insurance Programs in Virginia
There are quite a few ways for vehicle owners in Virginia to score their lowest possible premiums on car insurance. One way is to pay off annual premiums in full. Another is to increase your deductible amount. Also helpful is buying vehicles with permanently installed safety features. Some Virginia drivers quit driving altogether and opt for public transit for three years or more, thus creating for themselves an exemplary driving record, free of accidents and moving violations. These are all valid ways to lower your premiums. Also, most insurance carriers authorize Good Driver discounts, Good Student discounts, Defensive Driving Course discounts, Multiple Policy discounts and Multiple Auto discounts, among others.
Obtaining Auto Insurance Quotes in Virginia
According to J.D. Power & Associates, the most popular auto insurance carriers in Virginia are Allstate, Amica Mutual, Geico, Progressive and State Farm. Still, many local car owners prefer smaller, regionally operated carriers like Farm Bureau, Direct General and Erie. Call them all and compare free quotes. Ask about their discounts. Above all, drive safely.