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In most states, you must be able to establish financial responsibility first before you will be allowed to register your motor vehicle. This makes sure that you are sufficiently covered the event of an accident or collision with another car.

How to prove financial responsibility

The majority of drivers prove their financial responsibility by getting an auto liability policy. It's not your lone option though, but it is the easiest and quickest strategy to prove financial responsibility. Available choices vary by state. For instance, if you are in Virginia, you can pay the uninsured motor vehicle or UMV fee. This however does not provide any financial protection, and what this means is that if you caused or were involved in an accident, you will need to pay for injuries and damages straight out of your pocket. For this reason, the majority of motorists prefer to obtain liability insurance. To fulfill Virginia’s liability insurance requirements, your policy must include $25,000 coverage for bodily injury or loss of life of one person, $50,000 coverage for bodily injury or death of two or more people, and $20,000 coverage for damage to other's car or property.

Don’t just get minimum coverage

Keep in mind however that the legal minimum coverage for liability insurance may not be the best coverage you can get. For example, if a lawsuit was filed for a collision you caused and you only obtained minimum liability coverage required by your state, the money you can obtain from insurance will not be enough to pay for medical treatment, car repair, and lawyer's fees. If costs go above and beyond your coverage limits, the person you injured or whose car you wrecked can go after any asset you have. To establish how much coverage you must have, add up the current value of your house, car, savings and investments. Your coverage should be comparable to the total sum of your assets.

Consider additional coverage

If your vehicle is new and high-end, you should get comprehensive and collision coverage in addition to liability cover. These will reimburse the cost incurred from repairing damages after a collision, vandalism, or replace a stolen or totaled vehicle. Collision coverage is usually necessary for cars purchased through a loan since the car is officially not yours yet, but still of the bank or credit union. If the value of your vehicle is under $5,000 you don’t need these additional coverage.

Once you are able to figure out the amount and types of coverage you must have, it is time to do shopping. Shopping around is important because insurance plans can vary significantly depending on the car you own, and your driving and credit record. Auto insurance packages can also deviate appreciably when it comes to cost and features. The Web is a great starting point looking for Cheap Car Insurance in Virginia.