Virginia High Risk Auto Insurance
In order to drive legally in the state of Virginia, drivers have a choice between paying a $500 fee when registering each vehicle and providing proof of insurance. Most drivers choose the option of carrying insurance. There are many insurance companies licensed in the state of Virginia, including State Farm, Unitrin, Progressive, Geico, Hartford, and Allstate. Most of them will offer rates for high risk auto insurance in the state of Virginia.
While a driver may pay the $500 fee and drive legally without insurance, paying this fee does not relieve a driver of financial responsibility in the event of an accident. If found to be at fault under the tort system used in Virginia, the driver of the vehicle will be held personally responsible for all of the expenses associated with injuries and damage to property resulting from the accident.
In an effort to provide some protection for drivers from the high costs associated with auto accidents, Virginia has placed some minimums on the amount of insurance coverage will be acceptable. These minimums are Bodily Injury Liability of $25,000 per individual to $50,000 per accident and Property Damage Liability of $25,000. Because of the option of driving uninsured, uninsured/underinsured coverage is also required with the same minimums.
If insurance is allowed to expire during any registration period, the owner will be given a choice of paying the uninsured vehicle fee, purchasing a new policy, or surrendering the license plate to the DMV. Anyone caught driving without insurance who has not paid the fee will lose his/her driver's license until the $500 fee is paid and SR22 proof of high risk auto insurance is provided.