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- 01/03/2022
New Increased Limits
Minimum Liability in Virginia went from 25/50 up to 30/60... this will help a lot of people... but at a price!
This is new… Virginia now has higher required limits of limits of liability. Starting January 1st, anyone wanting to purchase the state minimum liability coverage (not always a good idea) will have to choose a higher amount than last year. The new limits are $30,000 per person hurt in an accident but no more than $60,000 per accident and then a separate limit of only $20,000 for property damage.This is a good start... But this is just that, a starting point!
Nicholas Springer
Why would you need higher limits?
Well, here are a few examples we can think of…
If I recall, the last Med-Flight that I remember us paying for was from Farmville to MCV… it was for two people (that survived thank goodness for Med-Flight!) and it was $20,000 EACH! There goes most of your liability coverage and that was just the transportation.
Secondly, I just read today that the average used car is going for $29,000! Whoa! That means if you are in an at-fault accident and hit a newly purchased used car, you could be getting a bill for $9,000!
What are your limits?
Nick Springer, current President and CEO of Springer Insurance, joined the agency in 2000. From CSR to telemarketer, Associate Agent, Vice President and now President, Nick worked every possible job in the agency, including janitor while he was in middle school two nights a week!
After taking over for Reta, who retired in 2018, Nick and his wife Shannon have grown the agency to four locations and recently moved the Home Office to a new office condo, still in Midlothian. Over his many years, Nick has attained the designation of a Certified Authority on Workers Compensation (CAWC) and most recently the coveted Certified Insurance Counseller (CIC) designation.
Nick is now heading up the new Springer Private Client Division geared to High Net Worth clients.
