The Virginia auto insurance requirements stipulated by law are:

* Bodily injury/death of one person $25,000
* Bodily injury/death of two or more persons $50,000
* Property damage $20,000

The $500 Uninsured Motor Vehicle (UMV) fee, which is paid to the Department of Motor Vehicles (DMV), does not provide any insurance; it only allows you to drive an uninsured vehicle at your own risk. It expires with your registration and must be paid at renewal.

Consequences for vehicle owners who are uninsured or have not paid the UMV fee will have their driving and vehicle registration privileges suspended. To be reinstated, they must pay a $500 statutory fee, file a Financial Responsibility Insurance Certificate (SR-22) with DMV for three years, and pays a reinstatement fee, if applicable.

Self-insurance or Surety Bonds are special options for owners of business vehicles. Details are available at any DMV office.

Insurance carriers provide DMV with electronic updates of insured information and vehicle description when they cancel, add and write new coverage for motor vehicles registered in Virginia.

DMV verifies that motor vehicles are properly insured by comparing vehicle registration information on file at DMV with liability information on the owner and vehicle transmitted to DMV by the insurance carrier. If no insurance is found, DMV requires the motor vehicle owner to furnish the liability insurance information to DMV for verification.

Registering or driving a vehicle without insurance or without paying the uninsured motor vehicle fee will result in fines and other penalties.

Note: If liability insurance coverage on a vehicle terminates or cancels during the registration period, either reinsure the vehicle, pay the uninsured motor vehicle fee or surrender the license plates to DMV.

Virginia DMV monitors insurance coverage through their Insurance Verification Program.

The Virginia Auto Insurance Consumer Guide contains additional insurance information.

Please note that these are minimums required by Virginia state law, not suggested coverage amounts. The simple fact is, each state’s minimum requirements are typically inadequate to sufficiently cover your costs should you be involved in a major accident. The shortfall will have to be made up out of your own pocket. Obviously, having to pay this difference could easily destroy one financially. Therefore, it is highly recommended to get much higher coverage amounts. Consult pages elsewhere on this site for recommendations in this regard.

Virginia Auto Insurance Requirements – More Information

For more information regarding auto insurance requirements in Virginia, contact the state’s insurance regulatory agency:

VIRGINIA – DEPARTMENT OF INSURANCE

P.O. Box 1157
Richmond, VA 23218 United States
Phone: 804-371-9694
FAX: 804-371-9349
Web: http://www.scc.virginia.gov/division/boi
Description: Alfred W. Gross, Commissioner of Insurance

See also:
http://www.dmv.state.va.us/webdoc/citizen/vehicles/insurance.asp

Note that this information, like all information provided on this site, is provided for as a general guide and is for reference purposes only and should in no way be considered legal advice. Contact the appropriate regulatory agency for the state in question for definitive answers that apply to that state.