HD42 - Uninsured Motorists in Virginia (1996)
Executive Summary: Insurance Monitoring Activities July 1, 1994 - June 30, 1995 As of June 30, 1995, there were 5,476,666 vehicles registered in Virginia. This number represents an increase of 142,747 or 2.68% in the number of vehicles registered as of June 30, 1994. The following statistics provide an overview of the Department of Motor Vehicles' insurance monitoring activities for FY94-95: • 241,621 vehicle owners were issued notices which resulted in 18,048 net orders of suspension. • The average overall detection rate for DMV's Insurance Monitoring Program was 7.47% • The detection rate for each insurance monitoring process was as follows: FY93-94 Vehicle Registration: 6.53% Conviction Sampling: 20.77% Suspected Uninsured Accident: 69.92% Law Enforcement Notification: 47.69% Citizen information/Police Accident Report: 53.69% FY94-95 Vehicle Registration: 5.55% Conviction Sampling: 30.81% Suspected Uninsured Accident: 62.76% Law Enforcement Notification: 45.03% Citizen information/Police Accident Report: 59.00% • 5,259 motorists voluntarily paid the uninsured motor vehicle fee at the time of registration. • 21,720 motorists paid the penalty fee after being detected by DMV as being uninsured. • A total of 223,160 certificates of insurance were filed. • Gross revenue collections were $9,064,958. Some motorists pay a prorated voluntary fee, while others pay penalty fees that are less the current annual fee ($400). Therefore, the number of motorists paying fees exceeds the result of revenue divided by the annual fee. • DMV's appropriation was $3,893,324. • The net funds available for transfer to the State Corporation Commission were $5,171,634, an increase of $303,123 from FY93-94. |
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