In the Commonwealth of Virginia, even though you may not own a car there still can be situations that arise in which you will need to buy auto insurance. Some of these reasons include:
In Virginia, the simple solution for all of those scenarios can be easily taken care of with a named operator policy (aka non-owners policy). Unlike regular auto insurance, a named operator policy does not cover vehicles. It covers only one driver .... the name insured.
Liability coverage, uninsured motorist coverage, and under-insured motorist coverage are all mandatory requirements in Virginia, and thus all are included on a named operator policy. But beyond that, nothing else is offered other than medical payments. There is no comprehensive or collision coverage on a named operator policy.
What happens if I purchase a named operator policy and then decide to buy a vehicle later on?
That answer varies from company to company. But there are basically two ways of handling it:
What's the difference between an SR22 and an FR44 filing?
There really is no difference as far as how either filing works. The only difference is that an SR 22 requires the state minimum liability auto insurance that Virginia requires, where an FR44 requires you to carry double the state minimum limits (Virginia requires an SR22 filing of 25/50/20 coverage and an FR44 filing requires 50/100/40). Other than that there is no difference.
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..