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Virginia department of insurance of vehicle has several types of companies that provide coverage. There are strict penalties for the vehicle owners who do not pay the fees and uninsured. Minimum insurance requirements in Virginia are estimates as $25,000 of coverage of bodily injury or for death of one person, $50,000 on death of two or more people and $20,000 for property losses. Everyone should buy their policy from an insurer doing business in Virginia. Uninsured motor vehicle fees are $500 and this provides no insurance.

Home insurance in Virginia should be affordable and amount of coverage depends upon the amount of money that you pay out of his pocket. State of Virginia has two policy perils one is open perils policy and second is named perils policy. Open peril policy covers for damage to your home and other buildings in all circumstances. Named peril policy will cover only losses to your property that are literally named in policy. Virginia has a financial responsibility law according to which any motorist is licensed to drive in Virginia has insurance to pay off loses that may result from an auto accident. If you cause an accident or injures to other people then bodily injury liability insurance protects you against claim for medical expenses and other loses. Uninsured motorist coverage protects you directly if you are injured by a driver who does not have insurance.

As a resident of Virginia, Federal and State law offers the right to protect you buying health insurance plan. A Federal law is known as Health insurance Portability and Accountability Act sets standard plans for health insurance. If you are sick, then Federal law will protect you as following ways:-Provide coverage you're under group health plan and all these Group Health Plans in Virginia must limit exclusion of pre-existing conditions. Most health insurance is renewable. If you leave your job, you have the right to live in previous health insurance plan. This system is called as COBRA continuation coverage. In Virginia, unemployment insurance program began in 1935 and was conceived as a way to partly replaces lost wages so that the unemployed person would not have to return other relief programs

In 2001, total value of ordinary, group, industrial and credit life insurance policies was $487 billion. As of 2000, there were 18 property and causality and 15 life and health insurance companies incorporated in Virginia State. Total premium value of causality and health insurance was $7.5 billion in 2001. Home protects you and your family with a homeowner's policy which soundly provides safeguards one's home structure, your profession and liability. Business insurance in Virginia covers tools and equipment coverage, commercial auto coverage, commercial building coverage, liability coverage, worker's compensation. Life insurance is considered as a sound financial planning. It is generally a cost effective way to provide benefits for your loved ones after your death. Life insurance is important due to income replacement.

Life insurance is necessary so that your beneficiaries have the money to offset burial costs credit cards and medical expenses are not covered by health insurance. Life insurance also provides mortgage and retirement savings. If you run an organization and own business, Group insurance is best for you. There are about four thousand insurance companies in Virginia. Some major companies are Genworth Financial Insurance, national electronics warranty corporation, Anthem health plans of Virginia, Optima health plans, Markel insurance company, Lawyers Title Insurance Corporation, Landamerica financial group etc.