Big Changes Coming July 1 for Virginia Auto Accident Insurance Law

Currently under Virginia law, if you are in a collision with a driver who has the same or more coverage as you have purchased you can only be compensated under the other driver's insurance policy.  For example, let's say you are injured and you incur $50,000 in medical expenses, plus $10,000 in lost income, in addition to being in a lot of pain and being physically limited.  If both you and the other driver have $50,000 in insurance coverage you would only be able to collect the $50,000 from the other driver.  You would collect nothing from your insurance carrier even though you have been paying premiums on your policy.

Here's the big change:  Any policy renewed or issued after July 1, 2023 will allow you to stack your policy on top of the policy of the at fault driver's policy.  The only exception is if you opt out of this benefit, but hopefully no one will be so foolish.  Therefore, under the example above, you would be able to collect up to $100,000 in insurance benefits.  This is a huge win for the victim. 

If you have any questions or if we can help you, please do not hesitate to contact us.