Auto Insurance Information
How much coverage do you Need?
The Virgin Islands Insurance Code Requires that all vehicles carry the minimum liability amount of:
Bodily Injury 10,000 per person / Max 20,000 per accident
Property Damage: 10,000 per accident
Optional medical coverage is usually offered with these basic requirements which provides coverage for the insureds medical expenses as a result of a covered accident for up to 1,000 per person.
Ask your representative for the option to upgrade your liability Limits.
USVI Automobile policies must be written for 1 year. Your insurance company should notify you by mail when it's time to renew the policy and to pay your premium.
Why do you need auto insurance?
It's really all about protecting yourself financially.
- If you're in an accident or your car is stolen, it costs money, often a lot of money, to fix or replace it.
- If you or any passengers are injured in an accident, medical costs can be extremely expensive.
- If you or your car is responsible for damage or injury to others, you may be sued for much more than you're worth.
- Not only is having insurance a prudent financial decision, many states require you to have at least some coverage.
Questions to ask your agent
Here are a few things to consider as you prepare to meet with an agent:
- How much can you afford to pay if you get in an accident? (To keep premiums low you may want to have a higher deductible and be willing to pay more for repairs.)
- What is the insurance company's level of service and ability to pay claims?
- What discounts are available? (Ask about good driver, multiple policy and student discounts.)
- What's the procedure for filing and settling a claim? (Ask who to call and what happens after you file a claim.)