Bill Text: VA SB1238 | 2023 | Regular Session | Chaptered
Bill Title: Motor carriers; financial responsibility.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2023-03-22 - Governor: Acts of Assembly Chapter text (CHAP0242) [SB1238 Detail]
Download: Virginia-2023-SB1238-Chaptered.html
Be it enacted by the General Assembly of Virginia:
1. That §46.2-2143.1 of the Code of Virginia is amended and reenacted as follows:
§46.2-2143.1. Insurance requirement for motor carriers.
A. All motor carriers shall keep in force at all times insurance, a bond, or bonds in an amount required by this section. However, motor carriers exempt under subdivision 6 of §46.2-2101 shall only be required to keep in force insurance, a bond, or bonds in the amount required by this section that provide primary coverage (i) when the motor carrier or person acting on behalf of the motor carrier is available to transport property for compensation and (ii) from the time the motor carrier or a person acting for or on behalf of the motor carrier accepts the request to transport property and the vehicle is en route to pick up the property until the time the property has been removed from the vehicle and delivered to its final destination.
B. The minimum public liability financial responsibility
requirements for motor carriers operating in intrastate commerce shall be based
on the gross vehicle weight rating of the vehicle as follows: for vehicles with
a gross vehicle weight rating in excess of 10,000 pounds, the minimum
requirement is $750,000; for vehicles with a gross vehicle weight rating in
excess of 7,500 pounds but not in excess of 10,000 pounds, the minimum
requirement is $300,000; and for passenger cars, motorcycles,
autocycles, and vehicles with a gross vehicle weight rating of 7,500 pounds or
less, the minimum requirement for clause (i) of subsection A is $25,000 per
person, $50,000 per incident for death and bodily injury and $20,000 for
property damage the financial responsibility requirements set forth in §
46.2-472 and for clause (ii) of subsection A is $100,000 per person and
$300,000 per incident for death and bodily injury and at least $50,000 for
property damage. The minimum insurance for motor carriers operating in
interstate commerce shall equal the minimum required by federal law, rule, or
regulation.
C. Notwithstanding subsection B, the minimum public financial responsibility requirements for household goods carriers required to obtain a certificate of fitness pursuant to this chapter shall be $750,000.
D. The minimum cargo insurance required for motor carriers operating in intrastate commerce shall be $50,000. Motor carriers not engaged in the transportation of household goods and those solely operating passenger cars, motorcycles, autocycles, and vehicles with a gross vehicle weight rating of 7,500 pounds or less shall not be required to file any cargo insurance, bond, or bonds for cargo liability.
