RICHMOND, Va. — New legislation passed by the Virginia General Assembly in 2021, which recently took effect, has increased the state’s minimum car insurance liability coverage from $30,000 to $50,000. This change is leading to higher premiums for many drivers, in some cases by several hundred dollars.
“You pay the company the premium and then in exchange you get the coverage that you pay for which is all outlined in your insurance policy with them,” said Zack Hutchison, a personal injury attorney with Huffman and Huffman Brothers-in-Law.
The law aims to provide better financial protection for drivers as the costs associated with car accidents have risen significantly. According to the National Safety Council, average costs related to auto accidents include:
- $1,869,000 per death
- $162,000 per disabling injury
- $42,000 per evident injury, such as broken bones or spinal damage
- $26,000 per possible injury, such as concussions or whiplash
- $6,100 for accidents involving only property damage
Hutchison said even minor injuries can result in a hefty bill…