Virginia has elevated the legal responsibility insurance coverage protection required for automobiles in Virginia.
The brand new regulation applies to automobile insurance coverage insurance policies issued or renewed on or after January 1, 2022. On January 1, 2025, necessities will once more change beneath the brand new regulation.
Required protection quantities are up from $25,000 to $30,000 for bodily harm to or dying and from $50,000 to $60,000 for bodily harm to or dying of two or extra individuals for insurance policies efficient between January 1, 2022, and January 1, 2025. The property insurance coverage requirement is $20,000 for harm to or destruction of property of others because of anybody accident.
For insurance policies efficient after January 1, 2025, the legal responsibility insurance coverage protection quantities enhance to $50,000 in circumstances of bodily harm to or dying of 1 particular person, $100,000 in circumstances of bodily harm to or dying of two or extra individuals from anybody accident. Additionally in 2025, the property insurance coverage requirement will enhance to $25,000,
The brand new regulation requires that self-insured operators of taxicabs keep safety in opposition to uninsured and underinsured drivers with bodily harm limits of $25,000/$50,000, and property protection of $20,000, with respect to every motorcar.
To buy license plates and title and register a automobile in Virginia, a buyer should certify the automobile is roofed by the minimal insurance coverage necessities or pay the uninsured motorcar charge.
In abstract, the brand new regulation raises the minimal insurance coverage protection necessities over the following three years to the next:
|Legal responsibility Insurance coverage Protection Necessities|
|Damage or dying of 1 particular person||Damage or dying of two or extra folks||Property harm|
|Insurance policies efficient Jan. 1, 2022 by Dec. 31, 2024||$30,000||$60,000||$20,000|
|Insurance policies efficient on or after Jan. 1, 2025||$50,000||$100,000||$25,000|
Automobile homeowners caught driving with out insurance coverage or who haven’t paid the uninsured motorcar charge may have their driving and automobile registration privileges suspended. To reinstate these privileges, they have to pay a $600 noncompliance charge, file a monetary duty certificates with the Virginia Division of Motor Automobiles for 3 years, and pay a reinstatement charge.
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