However, depending on your state and your insurance provider, you can get a grace period of 30 to 60 days to find new coverage. So, if your car insurance coverage expires, you won't have insurance for a period of 30 to 60 days. Basically, an SR-22 (financial responsibility insurance certificate) is a mandatory document that will be filed with the DMV to ensure that you have the legally required insurance coverage. This certificate also indicates to Virginia auto insurance companies that you are a high-risk driver, which typically increases the cost of your insurance premiums.
Car insurance exists to provide financial protection in the event of an accident and can cover expenses such as medical bills and property damage. If you've been involved in a car accident and need the help of an experienced lawyer to file a claim, the team at Tavss Fletcher is here to help. In addition to that financial burden, the driver of the other vehicle could report the accident to the DMV due to lack of insurance. If you have any questions about the possible impact that a newly licensed driver could have on your policy, you can contact your insurance agent.
The DMV has an online form that allows drivers to submit proof of insurance in response to a letter of inquiry. This program requires all insurance companies to send proof of insurance to the DMV when a new policy is taken out or to send a notice when a policy is canceled. However, Virginia is an at-fault state, meaning that your liability insurance company will only pay if the driver of your car was at fault. The Virginia Department of Motor Vehicles (DMV) requires that all drivers have minimum liability insurance.
Serious car accidents need more coverage, so it's important to buy the highest insurance coverages you can afford. In Virginia, there is a minimum amount of liability coverage that every driver must have, and driving without insurance in Virginia can result in heavy fines, license suspension and higher insurance premiums. While the minimum limits of liability are designed to protect another driver in the event that you cause an accident, most insurance agents and financial advisors will suggest that you take out more than the required amounts of coverage, just to be on the safe side. The Virginia DMV uses an online reporting system in which auto insurance companies notify the DMV of new or canceled policies.
However, the cost of car insurance in Virginia will vary depending on several factors, including, but not limited to, the type of coverage you take out, the type of vehicle you're insuring, your previous insurance history, and your driving record.