Auto Insurance in Virginia
Back in the day, it was nothing to be able to find a reliable little puddle-jumper for just a few hundred dollars. Nowadays, even used cars can start in the low-to-mid thousands of dollars. This isn’t just important to know should you be hit, but should you hit someone else. A light tap that dents more than one panel can cost a few thousand dollars to repair. Therefore states, like Virginia, require a minimum coverage of all vehicles. In the Richmond, VA area, the professionals of Cary-Wheeler & Associates, Inc., can help you determine if this is enough.
What Is Virginia Minimum Coverage?
The state of Virginia requires motorists to obtain 25/50/20 liability coverage. What this means is that for a single accident caused by you, individuals in the other vehicle are covered for up to $25,000 in medical expenses per person, with a total medical expense cap of $50,000. There is also $20,000 allotted for property damage.
Being liability coverage, this only applies to the other vehicle; none of the damage to your own vehicle or passengers are covered. This is why auto lenders often require full coverage insurance to protect the vehicle. Once paid, people often go from full coverage to the minimum without regard to the protections lost. One example being uninsured motorist coverage - though an uninsured motorist would be responsible for damage if they are responsible for colliding with your vehicle, collecting that money is a matter of the motorist having money and voluntarily parting with it.
What Coverage Do I Need?
Insurance needs are very personal. What is ideal for one may not be enough for another. Contact the experienced professionals of Cary-Wheeler & Associates Inc., serving the Richmond, VA area, to find out how much coverage you may or may not need.