Virginia Offers Consumer Guides with Sample Auto, Home Premiums

Virginia’s Bureau of Insurance has updated its free auto and homeowners insurance consumer guides and corresponding premium comparison pamphlets.

The guides are designed to help consumers understand their insurance coverage, how to shop for it, and what to do if a problem arises. They include basic information about auto and homeowners insurance, useful shopping tips, and steps for consumers to take when they must file a claim or if they have a problem with their insurance coverage.

The homeowners guide includes information about mobile home policies, ranch and farm policies, flood insurance, mortgage guaranty insurance, and title insurance. It also offers common-sense tips on protecting your property. The auto guide discusses the impact of accidents and traffic violations on your insurance premiums, and what to do if you are involved in an accident.

The separate pricing pamphlets, which supplement the auto and homeowners insurance consumer guides, reflect current samplings of automobile and homeowners insurance premiums categorized by geographic region. The pricing pamphlets include tables showing premiums for 50 of the top writers of automobile and homeowners insurance in Virginia.

In both the auto and homeowners pricing pamphlets, the premium comparisons are shown for Richmond, Alexandria, Virginia Beach, Norfolk, Roanoke, and Charlotte County. The premiums charged in Charlotte County represent most of the other non-metropolitan areas of Virginia. Because of the wide variation in premiums, the Bureau of Insurance advises consumers to shop around for insurance.

The homeowners’ insurance tables compare coverage for frame and masonry homes. The auto insurance tables show premiums for 20-year-old unmarried males and females and for 45-year-old married adults.

In addition to the homeowners and auto guides, and pricing pamphlets, the Bureau of Insurance offers a free pamphlet specifically geared to young drivers. The Teenager’s Guide to Auto Insurance provides valuable information and tips for teens about insurance issues.

Consumers may request copies of the free auto and homeowners guides and premium comparison pamphlets by calling the Bureau of Insurance Property and Casualty Consumer Services Section at (804) 371-9185 or toll-free at 1-877-310-6560. The guides and pamphlets are also available on the Bureau’s web site at www.scc.virginia.gov/division/boi or by writing to the State Corporation Commission, Bureau of Insurance, P. O. Box 1157, Richmond, Virginia 23218.

Source: State Corporation Commission, Bureau of Insurance