So you’re out shopping for auto insurance when the question of liability limits comes up. It’s not uncommon for individuals to be unware of their liability options and how they can affect your finances in the event of a claim.
What Level of Auto Insurance Is Required in Virginia?
Virginia’s state laws require all drivers to carry a minimum liability insurance policy of $25,000/$50,000/$20,000, unless a higher amount is specified by Virginia DMV (For example, if you need an FR-44).
The above amounts are read as bodily injury up to twenty-five thousand dollars per person and fifty thousand dollars per accident, whereas property damage coverage must be maintained at twenty thousand dollars per accident. Uninsured motorist coverage must include twenty-five thousand dollars per person and fifty thousand dollars per accident, and twenty thousand dollars per accident.
Higher Limits Are Available
While the minimum state requirements are just that—the minimum— it’s recommended to purchase higher limits to help protect your assets.
For example, if you’re a homeowner then you should purchase no less than $100,000/$300,000/$100,000 limits. If you have higher valued assets (such as rental homes, RVs, etc..) or have higher exposures, higher limits are generally recommended, perhaps combined with an umbrella policy.
Remember, auto liability covers you in the event of an accident where you do bodily injury or property damage to another. And these amounts are the most your insurance company will cover/defend you.
MULTIPLE CARRIERS, MULTIPLE COVERAGE OPTIONS
Compare auto and home insurance rates through multiple carriers with the help of our Family of Independent Agents. Contact us today!https://t.co/OtgZE6KQTU | 540-382-4277
— Dove Insurance (@DoveInsurance) October 22, 2021
Whether you need new coverage or have questions about your existing policy, we have answers.
- Do you know how far your current coverage extends in the event of an accident?
- Is your Bodily Injury Liability limit enough to protect your assets?
- Do you currently have the right comprehensive & collision coverage for your vehicle?
- How much do you pay out of pocket before a claim is covered?
- Will your policy cover a glass claim?
Bodily Injury and Property Damage Liability. This covers your legal liability for a covered accident that involves injury to another person or damage to someone’s property, up to the limit of liability you select.
Uninsured Motorist Coverage. This provides protection against uninsured drivers and is available in form of uninsured bodily injury and property damage. It’s meant to compensate for the repair and replacement expenses from under/uninsured motorists.
Collision Coverage. This takes care of all expenses incurred, minus the deductible, in the form of repair and replacement costs at the time of the accident.
Comprehensive Coverage. Also known as Other Than Collision Coverage, this is meant to cover the damages that occur or might have occurred because of events other than accidents. These events could be a flood, fire, theft, vandalism, glass, collision with an animal, floods and other natural disasters.
Plus many options, and some unique to specific carriers, such as Towing and Roadside Assistance, Rental Car Coverage, Income Loss, New Car Replacement, Pet Injury and Medical Payments.
Safe Drive, Accident Forgiveness, Diminishing Deductible, Multi-policy/Multi-car, Homeowner/Renter, Pay in Full, EFT/Paperless, New Car Replacement, Education, Employment, and much more!
We’re Here to Help
At Dove Insurance Agency, our family of Independent Agents are dedicated to serving your auto insurance needs. We will help educate you on available coverages, and how much you need for your vehicle.
No matter where you live in Virginia, we have an auto insurance policy to fit your situation.
Contact us today at 540-382-4277