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Insuring Your Car in Virginia

Every state has its quirks when it comes to insurance requirements, but when it comes to insuring your car in Virginia, there are a few things you need to know before you buy a policy for your auto. Virginia is a state whose insurance laws warrant close attention to detail, as coverage requirements and prices may change without warning. Here are a few of the key things you need to know as you shop for car insurance in Virginia.

• Policy requirements. Virginia law requires drivers to carry more than just liability coverage. While the state does mandate that drivers carry minimum bodily injury liability coverage of $25,000 per person and $50,000 per accident in addition to property damage liability of $20,000 per accident, Virginia also requires that you purchase uninsured motorist protection. The minimum coverage level required for this is the same as that the state requires for liability coverage.
• Uninsured? For standard automobile drivers, not having car insurance is costly. If you wish to forgo insuring your auto you must pay the state Department of Motor Vehicles a $500 Uninsured Motor Vehicle fee. This steep fee does not provide any coverage, but rather lets you drive at your own risk. The penalty for not renewing this each year is a suspended driver's license, which costs a total of $530 to reinstate. Then, for the next three years, you must also prove to the state that you carry insurance by filing an S-22 form.
• Optional but important. You may think that the state-mandated requirements will do, but you may want to look into comprehensive or collision coverage, given that not all vehicle damage results from collisions between two or more vehicles. If your car is currently under a lien, your lender may even require you to carry comprehensive coverage. It may just seem like more money until your car gets caught in a hail storm. You can also purchase medical, loss of income benefits, loss of use, and rental reimbursement coverage if you feel you need to.
• A fault state. Many states have a no-fault rule, which means that they do not determine which driver is responsible in the event of a collision. Virginia is not one of these states. If you are at fault in an accident your insurance premium is likely to go up. If you are not at fault, Virginia law does not allow insurance carriers to raise your premium.
• Watch those prices. On average, Virginians pay less for car insurance policies than most Americans. For example, the national average for insurance premiums in 2003 was $914 while the Virginia average was $752. In 2007, the cost of auto insurance premiums actually went down nearly 1% from the previous  year, though in 2008 premiums are expected to rise. The state has no control over these fluctuations, so you can still save on your insurance premiums.
• How to save. There are always ways to save on your auto insurance. Of course, the best ones are to keep a clean driving record, make sure your car has adequate safety and anti-theft devices, and taking a higher deductible. A little research certainly does not hurt either. Getting an accurate gauge of your auto insurance needs (and knowing how to read a policy)  will prevent you from overpaying on an insurance policy containing facets that are of no use to you. Consider what you need to protect, and shape your policy accordingly.

Shop around

Once you know your needs and what the law expects from you, it is time to go shopping. You can do this over the phone, online, and in person. The Internet is a great way to get quick quotes from a variety of Virginia auto insurance carriers at once, and choose the best one then and there.