VA| The Virginia State Corporation Commission’s Bureau of Insurance has approved amendments to the Virginia Automobile Insurance Plan’s manual of rules and rates, as proposed by the Automobile Insurance Plans Service Office on August 6, 2024. These changes include an overall rate level increase of 6.4%, with specific adjustments such as a 4.0% increase in bodily injury coverage, 10.0% in property damage, and 7.5% for uninsured motorists under liability coverage, as well as a 4.0% increase in both comprehensive and collision under physical damage coverage. The amendments are effective for new policies starting April 1, 2025, and renewal policies beginning May 1, 2025. The order has been distributed to relevant parties, including the Virginia Automobile Insurance Plan and the Deputy Commissioner of Insurance for the Property and Casualty Division.
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