Virginia Car Insurance Laws
To drive legally, Virginia mandates every motorist have at least $25,000 in bodily injury liability coverage ($50,000 per accident) and $20,000 to pay for property damage. Virginia also requires drivers to buy uninsured and underinsured motorist coverage, both for bodily injury and property damage.
Virginia has stringent speeding laws. For example, a conviction for speeding above 80 mph can be considered reckless driving -- a six-point offense -- and stay on the driver's motor vehicle record for 11 years, long after the points have disappeared.
A "super speeder" law added fines of as much as $1,050 to tickets before that provision of the law was repealed in 2008.
Bank some safety points: For every year without incident, a Virginia driver can accumulate a "safety point" that offsets a demerit point. Drivers can also get an additional safety point for taking a defensive driving class. In total, you can't accumulate more than five, though.
Pay $500 a year and drive anyway: Virginia has an unusual "Uninsured Motor Vehicle" fee that allows a car owner to register an uninsured vehicle and drive at his or her own risk. The owner is still legally liable for any damages he or she causes.
Uninsured motorist penalties for Virginia: If you don't register and pay the fee to drive uninsured, you may be fined $500, have your license and registration suspended and be required to file an SR-22 form.
Electric vehicle tax: To make up for lost gasoline tax revenue, owners of electric vehicles face an additional $50 cost at registration time.
Largest car insurance companies in Virginia by market share
||Company / Group
||Direct Premiums Written ($)
||Market share (%)
||State Farm Group
||Berkshire Hathaway Insurance
||Allstate Insurance Group
||Progressive Insurance Group
||Erie Insurance Group
||Liberty Mutual Insurance Cos
||VA Farm Bureau Group
|Source: A.M. Best market share rankings are based on direct premiums written in 2013.