The last three years rates have started to rise across the state, so there is no better time than the present to start looking for low cost car insurance in Virginia (VA).
Virginia Car Insurance Minimum Requirements.
Virginia state law requires minimum Bodily Injury Liability limits of $25,000 per injured person up to a total of $50,000 per accident, and Property Damage Liability coverage with a minimum limit of $20,000.
This basic coverage is often referred to as 25/50/20 coverage with 25/50 UM limits.
Unlike in many states, in Virginia you can choose not to carry auto insurance.
In this case you would have to pay a $500 Uninsured Motor Vehicle fee to the state Department of Motor Vehicles. Important to note this does not provide any coverage, it only allows you to drive your car at your own risk. If you get into an accident, all the financial responsibility will fall to you. The state DMV monitors your insurance coverage through its Insurance Verification Program. So if you drop your coverage, the state will be notified and you will need to present proof of insurance.
The State of Virginia follows a Tort system.
This means someone will be found to be at fault for an accident. This individual and their insurance company are accountable for paying all damages. This makes it even more important that you have quality, low cost car insurance in Virginia.
How does Car Insurance in Virgina compare to other states.
Virginia’s average auto insurance premium for 2010 is currently at $1,459 which compares advantageously with the national average of $1,748. Although rates have been trending higher over the last three years. In 2009 Virginia car insurance rates were 12% higher than in 2008. Before that, 2008 rates were 4% higher than in 2007. As rates continuing to increase, it is important that you take the time to shop around for the best car insurance rates in Virginia
Virginia residents will see ranges in prices for their auto insurance rates depending on where they live in the state. Those who live in more urbanized areas like Norfolk, Richmond, Alexandria, Arlington and Virginia Beach will pay more for car insurance due to heavier traffic, more accidents and higher claims, compared to those who live in smaller towns like Charlottesville, Lynchburg and Williamsburg.
Remember auto rates are adjusted frequently for geographical areas, driving habits, vehicle damages etc.
As these insurers adjust their pricing strategies, rates differ radically from company to company. Virginians know the best ways to find the lowest prices on car insurance is to have car insurance companies compete for your business and compare these rates side by side without compromising quality. Why pay for the same coverage’s for as much as $575 a year more.
Each year you should comparison-shop; it is one way to keep your rates affordable. Compare Car Insurance Now has done all the leg work checking the best rates from top insurance companies and placing all the information you need on one site. Here you will given the option of choosing the Minimum State Required package, more wide-ranging coverage packages, or you can customize every limit and deductible to fit your needs.
Comments are closed
