The State of Virgina was the 7th american auto insurance and homeowners insurance market InsureDirect.com entered in 2007. Our customers in Virgina are truly lovely people. It is really true about what people say about the folks from the southern states. Southern Folk are the most friendly people you will ever meet. Quite frankly, we would love to do more business with the resident drivers, homeowners and renters of the state of Virginia. We hope InsureDirect.com reaches out to these fine folks.
U.S history is closely tied to the state of Virginia. During the Colonial period, the town of Jamestown was founded in 1607. This was the very first permanent settlement in what was known to Great Britain as the America’s. One of the saddest legacies in american history was introduced in the state of Virgina in the year 1619. Slavery was a sad practice which was eventually abolished approximately 120 years later as a result of the republican administration of President Abraham Lincoln. Lincoln and fellow republicans then and now were repulsed by the liberal practice resulted in the American Civil War. The state of Virgina is refered to as the “Mother of Presidents. The phrase pertains to the fact, because eight american presidents were born here.
Present day; Virginia is know as a service sector providing 1/3 of all jobs. Virginia produces as much income as both manufacturing and retail businesses combined.
Virginia is a huge manufacturing state. Food Processing, transportation equipment, electronic and other electrical equipment, chemical plants, textile goods, apparel, lumber and wood products – including many fine furniture manufactures.
Agriculture remains an important sector, and the state ranks among the top ten in a variety of agricultural products, including tomatoes, tobacco, peanuts, apples, summer potatoes, sweet potatoes, snap beans, and turkeys and broilers. Virginia also has a large dairy industry.
As we have outlined in other states, Virginia has a financial responsibility law. This means, in the state of Virginia, you must purchase Auto Insurance. The purpose of this Virginia Insurance law is to discourage drivers to keep off of Virginia’s highway if they cannot afford the cost of injuries or damage they cause when driving a car.
These financial responsibility (FR) requirements can be met in one of several ways. InsureDirect.com is licensed to market auto insurance products in the State of Virginia. You can log on to www.insuredirect.com or call Toll-Free (888) 505-0286 to receive an Auto Insurance Quote from our numerous Virginia Auto Insurance Carriers.
Virginia State Flag
Virginia’s Financial Responsibility Options
When you register your Auto in the State of Virginia, you must buy Auto Insurance from an Auto Insurance Company or agents whom is licensed to give auto coverage in the State of Virginia. In the State of Virginia, your Auto Insurance Policy must have minimum limits to meet these requirements:
- $25,000 for injury or death of one person;
- $50,000 for injury or death of two or more people; and
- $20,000 for property damage.
There are consequences in the State of Virginia if you are caught driving without the statutory amount of Auto Insurance. You could be fined or have your driving privileges suspended. Contact the Maryland Department of Transportation for more information. If you are involved in an At Fault Auto Accident and it has been determined you do not have a Virginia Auto Insurance Policy or Financial Responsibility (FR); YOUR HOME, WAGES, AND OTHER ASSETS COULD BE TAKEN TO PAY ANY VALID CLAIMS AGAINST YOU.
If you want to enjoy the privilege of Driving on Virginia’s streets and roads, you must first satisfy the requirements of the Virginia financial responsibility law by buying auto insurance from a licensed agent or broker like InsureDirect.com. Your Auto Insurance Policy must contain three major parts:
- Liability Insurance for Bodily Injury,
- Liability Insurance for Property Damage, and
- Uninsured/Underinsured Motorist Coverage
1. Virginia’s Bodily Injury Liability Insurance
This coverage does not protect you or your car directly. If you are involved in an At Fault Accident and injure other people in the process, Bodily Injury Coverage protects you against claims for medical expenses, lost wages, pain and suffering and other financial losses from the people you hurt as a result of your negligents. Further; your Auto Insurance coverage will pay for a member of your family or if you have given permission to a member of your family to use your car. If you only carry the state minimum limits required by the State of Virginia, your Auto Insurance policy will pay up to $25,000 for the losses of any one person you hurt in an accident. If more than one person is hurt in an accident which is your fault, the minimum coverage you are required to buy is $50,000 for any losses caused.
2. Virginia Property Damage Liability Insurance
Virginia Property damage liability insurance coverage pays for the damage you cause to the property of other people such as a dented door, smashed windshield, or a damaged to a homes wall or fence. The auto insurance will pay for the damage whether you were driving your auto or whether it was being driven by another person with your permission. When you carry the Virginia State Minimum Limits required by the State of Virginia, your Auto Insurance policy will pay up to the policy limit of $20,000 for damage causes as a result of you negligents.
3. Virginia Uninsured/Virginia Underinsured Motorist Coverage
Uninsured/Underinsured Motorist Coverage limits protect you n the event you are hurt by a another driver who does not have Auto insurance or another driver whose liability limits are not enough to pay all your damages. It also pays you if you are hurt by a hit-and-run driver. It pays you by ensuring that you have enough money available to pay your damages which are caused by another driver. Although the At Fault Driver is responsible for the damages not paid by his Auto Insurance Carrier, they may not be able to pay you. Your Auto Insurance Carrier will pay for the damage above the amount of insurance that the At Fault Driver bought. The total amount of insurance coverage you can collect from both sources cannot exceed the total amount of the uninsured/underinsured motorist coverage limits you have purchased from your carrier.
The Virginia State Minimum Amount of coverage required by law is $25,000/$50,000/$20,000. $20,000 property damage coverage is subject to a $200 deductible when a loss is caused by a hit-and-run driver who cannot be identified.
The Family Auto Insurance Policy, the Personal Auto Insurance Policy, and the Special Package Auto Insurance Policy:
1. Family Auto Policy – Separate Limits of Liability
When referring to liability limits, the insurance industry uses an abbreviation that can be confusing. The designation of $25,000/$50,000/$20,000 (or 25/50/20) or similar designations refer to the maximum amounts that an insurance company will pay for the three basic liability coverages. The first number ($25,000) refers to the limit on bodily injury per person. The second number ($50,000) refers to the limit on bodily injury per accident where two or more people have been injured. The third number ($20,000) refers to the limit on property damage per accident.
2. Special Package Auto Policy – Single Limit of Liability
Some insurance companies sell a policy that covers bodily injury liability per person, bodily injury liability per accident and property damage liability, but does not have separate limits. The maximum that a company will pay per person or per accident is contained in a single limit. This single limit must be at least $70,000 to satisfy the financial responsibility laws although limits of up to $1,000,000 can be purchased. This limit of liability applies to all bodily injury and property damage liability losses that occur as a result of any one accident for which the insured is legally liable. Uninsured motorist coverage is also contained in every Special Package Auto Policy.
3. Personal Auto Policy – Separate Limits of Liability
The Personal Auto Policy is similar to the Family Auto Policy in that it contains split limits. The policy language has been simplified to provide a better understanding for the consumer. The policy’s coverage, conditions, and provisions are written in larger print and have been rearranged to make reading the contract easier. There are other types of auto insurance that are available in addition to the required coverages. This insurance can provide more protection against financial losses resulting from an auto accident.
Collision and Comprehensive Coverage:
“Collision” and “Comprehensive” coverages, which are also known as physical damage coverages, pay for repair or replacement of your auto regardless of who is at fault.Collision coverage pays if your auto collides with most objects, including another car, or if it overturns.
Comprehensive coverage pays for damage to your auto from almost all other causes such as fire, vandalism, water, hail, glass breakage, wind, and falling objects. It will pay even if your pet chews the upholstery.
Comprehensive coverage also pays if your auto or parts of the auto, such as the battery or tires, are stolen. You will need physical damage coverage if you borrow the money to buy your car from a bank or some other financial institution.
If you own an automobile which is insured for comprehensive and collision coverages, your policy will extend those coverages to an automobile that you rent (on vacation, for example). If you rent a vehicle from a rental agency, you should read the rental
agreement carefully before deciding whether to buy the loss damage waiver or physical damage protection they offer.
Your automobile insurance may not provide coverage for all your obligations under the rental agreement.
Medical Expense and Loss of Income Benefits Coverage
Medical Expense Benefits Coverage pays all reasonable and necessary medical and funeral expenses for you or others injured or killed in an accident while riding or driving in your auto. This includes hospital, surgical, rehabilitative, chiropractic, x-ray, dental, professional nursing, prosthetic, and funeral expenses. It will also cover you or members of your family if you are struck by an auto while walking or while riding in another auto. This coverage will pay for medical and funeral expenses even if you cause the accident. Usually, only expenses incurred within three years after the accident are included.
Loss of Income Benefits Coverage
Pays you, your family, or others in your auto for loss of income up to $100 per week for a period not to exceed 52 weeks.
Rental Reimbursement Coverage
You can buy coverage to reimburse you for the price of renting a substitute vehicle if your auto is withdrawn from use for longer than 24 hours and the withdrawal is caused by a collision or by a comprehensive loss as defined in your policy. Comprehensive losses are usually fire and theft. Ask your company or agent about available coverage and limits. Insurance companies are required, by law, to notify you that rental reimbursement coverage is available for autos insured for comprehensive or collision coverage.
Loss of Use Coverage
You can also buy Loss of Use Coverage or (Rental Car coverage) to reimburse you for the cost of paying a rental car agency for the loss of use of its rental car as a result of an Auto accident. This coverage provides insurance in the event that you are required to pay a rental car agency for the use of the rental vehicle when your car is being fixed at a garage or auto body shop.