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Virginia State Car Insurance Legal Requirements

Legal Requirements for Acquiring Auto Insurance in Virginia

The state of Virginia has a financial responsibility law. It is mandatory for all drivers of automobiles to have necessary auto insurance, as the law would like to make it impossible for those who do not have the financial means, to get behind the steering wheels of a vehicle. Some of the basic requirements in terms of financial responsibility in Virginia are 25,000/50,000/20,000. This implies the following:

• $25,000 in case of bodily injury to or death per person in any one accident
• $50,000 in case of bodily injury caused or death resulting in the case of 2 or more persons in any one accident
• $20,000 because of injury to, or destruction of property of others in any one accident.

The above mentioned auto insurance has to be taken from a duly registered and notified auto insurance company only.

As far as Virginia law is concerned, the driver is supposed to maintain proof of Financial Responsibility such that it may be provided in case of request by any law enforcement office. This can be demanded in case of an accident, or during a routine check too. The other time when it is required is at the time of registering the vehicle, because auto insurance comes into effect when you first start driving the vehicle.

In addition to the mandatory Financial Responsibility norms, you can also go in for Optional Insurance coverage which is as follows:

Optional Insurance Cover

-       Uninsured Motorist (UM) Cover: In the state of Virginism this also includes Underinsured Motorist (UIM) cover. It has to cover bodily injury cover and if the insured person buys more than required bodily injury covered, the UM must also be of the same amount. The UM also has to provide for at least $20,000 in property damage cover.

-       Medical Expenses and Loss of Income Benefits: Up to $2,000 per coverage can be purchase towards medical and funeral expenses. In case of loss of income benefit, it can be bought to the extent of $100 per week for a maximum of one year.

Penalties for Failure to provide documentary proof of Insurance

Residents of Virginia who have not got suitable auto insurance and are unable to provide proof of their financial responsibility could have the following severe penalties imposed on them:

-       Restriction or revocation of driver’s license

-       Revocation or restriction of the registration of the uninsured vehicle

Procedure for restoring the registration of the vehicle

-       Getting insurance and proof thereof

-       Paying a statutory fine of $500

-       $85 to reinstate the insurance

-       Additional Department of Motor Vehicles (DMV) fees to reinstate the driver’s license.

-       File an SR-22 (Financial Responsibility Insurance Certificate) with the DMV for a period of 3 years.

Other details of Virginia Motor Insurance:

The DMV is provided with electronic updates from insurance carriers about insured info and also vehicle description. This is when the insurer cancels, adds or writes new motor insurance cover in the state of Virginia. The DMV uses this info to verify insurance with registration and liability info of vehicles in the state. If no insurance cover is verified, the owner of the vehicle is asked to furnish insurance info for verification. Failure to do so will make the owner liable to penalties and fines, as deemed fit on a case to case basis.

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