Selecting the Right Virginia Auto Insurance Coverages
Virginia Auto Insurance Coverages is insurance for damage to a vehicle(s) and bodily injury resulting from an auto accident. Insurance of this type can cover a variety of instances depending on the kind of auto insurance that has been purchased.
Virginia Auto Insurance Coverages – Liability
Liability Coverage protects the other person(s) involved with an accident that is your fault. Liability coverages include Bodily Injury Per Person, Bodily Injury Per Accident, Property Damage and Uninsured Motorists Coverage.
Let’s say for example, you have 50/100/50. $50,000 is for Bodily Injury, Per Person. If you should have an accident and a person was severely injured and incurred $75,000 in medical bills, your insurance will only cover $50,000. $100,000 covers the Total Bodily Injury Per Accident. This is used when multiple people are injured in the same accident. So if you’re involved in an at-fault accident and 5 people are severely injured, your insurance will only pay $100,000 total.
Uninsured/Underinsured Motorist Coverage
This coverage is for bodily injury at the same minimums as those listed for liability coverage. Using the example above, the Uninsured/Underinsured Motorist Coverage would be $50,000. This amount protects you if you’re in a car accident and the other driver is at fault – and that driver has minimum liability limits or doesn’t have car insurance! This coverage also provides insurance for injury-related medical expenses and costs associated with repairing damage to your car.
“Although purchasing only the minimum State required Bodily Injury Insurance limits can get you a cheaper auto insurance rate, if you cause a serious accident, you are likely to have inadequate coverage due to the price of cheap insurance. Many vehicles today have a much higher value than the Virginia minimum Property Damage Liability limits of $10,000. You would be responsible for any amount of property damage over the minimum limits, if that is the coverage you purchased. Multiple persons with severe injuries can each have damages of hundreds of thousands of dollars or more. That’s why it is important to buy more than the Virginia minimum Bodily Injury Insurance limits.”
Virginia Auto Insurance Coverages – Comprehensive & Collision
Many people refer to Comprehensive and Collision Insurance as “full coverage”. The correct term is “comprehensive and collision”. Comprehensive and collision coverages are optional; however, more often they are typically required as part of a car loan or lease agreement. Think about it — when you cause an accident, what is your first thought after you see the damage done to your vehicle? If you have liability coverage only, you could be left to pay for your own damages out of your pocket.
Comprehensive Insurance Coverages
Comprehensive will help cover costs of damage to your vehicle that result from an event that is not an accident, such as severe weather or fire, theft, vandalism, hail, falling objects, animals or fowl, natural disasters, and all glass breakage.
Collision Insurance Coverage
Collision Coverage pays for damages to your vehicle after a collision with another car or object. There are other additions you can add to your policy and we will review them with you. Those are Medical payments, Rental car reimbursement, Emergency roadside assistance and more.
Medical coverage is an important auto insurance coverage. Also known as Med Pay, medical car insurance covers the costs (up to a limit) for injuries that you, or your passengers may have when riding in and while loading or unloading the vehicle. You and your family may be covered as a pedestrian also.
Personal Injury Protection (PIP)
Personal Injury Protection (PIP) coverage is an extended form of MedPay. PIP may cover expenses that are related to injury, but not necessarily medical, such as lost wages, childcare and funeral costs. PIP coverage is currently required by sixteen states. If you are already insured under a good health insurance policy, then fortunately, you may not need to buy more than the minimum required amount of PIP or MedPay insurance–enough to cover your health insurance deductible or other out-or-pocket expenses such as co-pays.
Virginia Auto Insurance – Optional Coverages
There are many optional auto insurance coverages, and some may qualify you for additional auto insurance discounts. These coverages include Glass Breakage Coverage, Emergency Roadside Assistance Protection, Rental Reimbursement Coverage and GAP Insurance coverage.
You can learn more about these coverage types, and additional coverages by visiting our Auto Insurance page, and by reading the Bodily Injury and Property Damage Coverage pages in your policy.
All auto insurance policies involve a premium, which is the payment a customer makes to have auto insurance. Premiums for auto insurance can be extremely divergent and are determined by a number of factors. Gender is the major determinant for auto insurance premiums. Statistically, men are 80% more likely to be involved in an accident, and therefore have a greater need for insurance. Auto insurance premiums for men are typically higher than auto insurance premiums for women. Similarly, teenagers are considered high risk and will have to pay higher auto insurance premiums as well. The auto insurance premium can be reduced if the teenager takes a defensive driving course. Many states require teenagers to take defensive driving courses in order to obtain a driving permit and auto insurance.
It is customary for auto insurance plans to have a deductible that the customer is responsible for before the auto insurance provider offers coverage of expenses. Deductibles can have an effect on the coverage available under an auto insurance plan.
Most drivers are not aware of the risks they are taking when they purchase just the
state minimum insurance that is required by Virginia law.
Virginia Auto Insurance Coverages – Key Points
You may be asked for proof of insurance at any and all of these times: at vehicle registration, at the time of an accident, and any time when driving the vehicle. It is suggested that the owner of the car keeps proof of insurance in the car at all times, instead of on his or her person, so that it can be available at all times, no matter who is driving.
You should never drive without Virginia auto insurance. Any violations of state law regarding auto insurance could result in a hefty fine, suspension of your driver’s license, and possibly time in jail. The dire consequences of driving while uninsured are not worth the neglect of paying for insurance. The chance that an uninsured driver will avoid detection is slim; he is likely to be caught and strictly punished–not to mention and increase in the cost of insurance for 3 to 5 years.
Visit the Virginia Division of Motor Vehicle website to learn more about Virginia Auto Insurance Coverages.
We Can Help!
The Insurance Advisor agents can help consumers with questions about Virginia Auto Insurance Coverages, to insure consumers understand what coverages may best meet their needs and we shop multiple carriers to get you the best price. Consumers can get a quick auto insurance quote anytime during regular business hours and have access to professional insurance agents who will help them make an informative decision and avoid potential risks.
To better understand your Virginia Auto Insurance Coverages, our agents take the time to sit down with you and review your existing policy and help you identify risks, or sometimes, if you are over insured. Yes, some people are paying too much for their auto insurance!
The Insurance Advisor is a supporting member of the Virginia Association of Insurance Agents and committed to the Trusted Choice Pledge. The company opened in 2002 as a full service Independent Insurance Agency and proud corporate member of The Insurance Advisor Group, a group membership organization of local St Louis area insurance agencies founded in 1992. The licensed producers have a combined 60+ years of experience and are dedicated to providing every client with products tailored to fit their individual needs.
Get a free auto insurance quote by clicking here or calling our office (804) 638-9024.