Do I have to have car insurance?

Here is how it works in Virginia: if you own a car, you have to register your car and provide the Department of Motor Vehicles (DMV) with proof of insurance or the payment of $500 per year as the annual uninsured motor vehicle fee. You may, however, opt to satisfy DMV with proof of a security bond and receive a self-insurance certificate. Thus, you basically have three options to satisfy the law; you can 1) insure your vehicle with bodily injury coverage with the minimum liability coverage of $25,000 per person/ $50,000 total for all persons per accident, and $20,000 in property damage, 2) receive a self-insurance certificate from DMV/to show proof of a security bond or 3) pay the uninsured DMV annual fee. 

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