SB 256 is a solution in search of a problem—and a bad solution at that, yet it has reached Governor Youngkin’s desk for signature! If Governor Youngkin signs this legislation into law, it is likely to lead to higher insurance costs for hardworking Virginians while burdening the state’s court system with additional litigation that only benefits trial lawyers.  

A new analysis by Milliman, an independent actuarial firm, on Senate Bill 256 found that the legislation could have an additional premium impact of $220 million to $550 million across motor vehicle insurance in Virginia, representing an increase of 5.6 percent to 14.3 percent for auto premiums for residents and businesses. The study concludes the median estimated impact is a 9.9 percent auto premium increase per policyholder annually. 

Millions of Virginians are currently grappling with inflation that threatens to make affording necessities like auto insurance increasingly difficult. Contact Governor Youngkin and tell him to veto SB 256 and stand with consumers today!