A series of new Virginia laws go into effect in the new year, including changes to required car insurance coverage.
Beginning in January, car insurance companies will be required to provide $30,000 in coverage for injury or death to one person and $60,000 in coverage for injury or death to two or more people. This will be an increase of $5,000 worth of coverage for one person and an increase of $10,000 of coverage for two or more people. The property damage coverage will remain at $20,000.
This legislation is part of an incremental increase in required coverage. The mandatory coverage will increase again in 2025 to $50,000 for one person and $100,000 for two or more people, which doubles the current requirements. In 2025, the property damage coverage will also increase, but only to $25,000.Read More