Virginia Insurance Requirements & Rates

Virginia requires minimum liability coverage of 30/60/20 (bodily injury per person / per accident / property damage). Virginia is an at-fault state, meaning the driver who caused the accident is responsible for paying damages. Uninsured motorist coverage is required.

Virginia homeowners face risks from hurricanes, flooding, severe thunderstorms, tornadoes. The flood risk level is high and earthquake risk is low. Standard deductibles apply. The average annual home insurance premium is $2,102.

Virginia requires all motorcycle riders to wear helmets. Lane splitting is not legal. Eye protection is required for all riders. The riding season is march–november.

Yes, workers' compensation insurance is required in Virginia. Businesses with fewer than 2 employees may be exempt. Virginia has approximately 800,000 small businesses, with top industries including Government Contracting, Technology, Military & Defense.

Yes, Virginia has expanded Medicaid. The state has its own state-based health insurance marketplace at https://www.marketplace.virginia.gov. The uninsured rate is 7.2%.

Yes, landlords in Virginia can require tenants to carry renters insurance as a condition of the lease. About 34% of Virginia residents are renters, with average monthly rent of $1,380.

With a median household income of $80,615, most Virginia families should consider 10-12x their annual income in life insurance coverage. Currently, 54% of Virginia households have life insurance.