It is essential to have auto insurance to protect yourself, your passengers and your finances if you own or lease an automobile. Obtaining auto insurance in Virginia that meets the minimum liability requirements is mandatory by the state. Comprehensive and collision coverage are also recommended for newer vehicles and are often made compulsory by lenders if you are financing or leasing your vehicle.
Why Car Insurance Is Important
Auto insurance pays for expenses related to vehicle accidents so you don’t have to pay out of pocket. Some ways insurance protects you include:
- Avoiding harm to your personal financial assets
- Covering your passengers’ medical expenses in case of injury
- Paying for bills in the event you are hit by an uninsured driver
Types of Coverage
Liability pays for bodily injury and property damage to other vehicles caused by auto accidents. Medical expenses, lost wages, vehicle damage and court costs are usually covered. Collision coverage pays for damage to your own vehicle caused by an accident with an object or another car. Comprehensive coverage handles loss or damage to an insured vehicle when it’s unrelated to an accident, such as loss by natural disasters, theft, or vandalism.
Having auto insurance in Virginia is vital for guarding your assets and protecting your peace of mind.