Virginia Senate Bill SB664 would increase the minimum auto liability limits in Virginia to the second-highest in the United States. The increase will result in raising the cost of insurance to many Virginians trying to afford their insurance currently and would lead to more uninsured drivers. Increased uninsured motorist claims together with the increase in minimum Uninsured Motorist coverage limits from SB664 will directly impact Virginia residents, businesses operating vehicles, as well as self-insured transit agencies, local governments and the Commonwealth itself.

In December 2018 the DMV released a stakeholder study that concluded with overwhelming evidence that Virginia’s minimum auto liability limits should not be increased. While these limits have not been increased in recent years, they remain as high or higher than 44 other states and DC, while 4 of the other 6 states’ higher limits are still less than those in SB664. (There is also no evidence of a trend - of the 8 states that have increased their limits since 2007, 6 of them raised theirs only to the same or less than Virginia’s.) At the same time, the DMV study cited insurance industry data confirming that the current limits are sufficient, covering 99% of property damage losses and over 90% of injury claims made.

SB664 asks Virginians to pay more for insurance while the evidence says there’s no need. Please oppose this bill in committee.