Virginia legislation · 2026 Regular Session
Virginia SB693: An Act to amend and reenact § 38.2-508 of the Code of Virginia, relating to motor vehicle insurance; unfair discrimination based on an individual's consumer credit information or credit-based insurance score; report.
Status: Chaptered, April 13, 2026
Motor vehicle insurance; use of certain factors to establish rates prohibited. Prohibits an insurer from refusing to insure, refusing to continue to insure, or limiting the amount or extent of motor vehicle insurance coverage, or charge an individual a different rate for the same motor vehicle insurance coverage, solely because of such individual's consumer credit information or credit-based insurance score. The bill also directs the State Corporation Commission's Bureau of Insurance to study the use by insurers of an insured's or applicant's consumer credit information or credit-based insurance score in connection with underwriting motor vehicle insurance policies and to submit a report of its findings and recommendations by October 1, 2027.
What the bill says
An Act to amend and reenact § 38.2-508 of the Code of Virginia, relating to motor vehicle insurance; unfair discrimination based on an individual's consumer credit information or credit-based insurance score; report. [S 693] Approved April 13, 2026 1. That § 38.2-508 of the Code of Virginia is amended and reenacted as follows: § 38.2-508. Unfair discrimination. No person 2. Unfairly discriminate or permit any unfair discrimination between individuals of the same class and of essentially the same hazard (i) in the amount of premium, policy fees, or rates charged for any policy or contract of ac.
From the enrolled text, April 13, 2026:
An Act to amend and reenact § 38.2-508 of the Code of Virginia, relating to motor vehicle insurance; unfair discrimination based on an individual's consumer credit information or credit-based insurance score; report. [S 693] Approved April 13, 2026 1. That § 38.2-508 of the Code of Virginia is amended and reenacted as follows: § 38.2-508. Unfair discrimination. No person 2. Unfairly discriminate or permit any unfair discrimination between individuals of the same class and of essentially the same hazard (i) in the amount of premium, policy fees, or rates charged for any policy or contract of accident or health insurance, (ii) in the benefits payable under such policy or contract, (iii) in any of the terms or conditions of such policy or contract, or (iv) in any other manner; 3. Refuse to insure, refuse to continue to insure, or limit the amount, extent or kind of insurance coverage available to an individual, or charge an individual a different rate for the same coverage solely because of blindness, or partial blindness, or mental or physical impairments, unless the refusal, limitation or rate differential is based on sound actuarial principles. This paragraph shall not be interpreted to modify any other provision of law relating to the termination, modification, issuance or renewal of any insurance policy or contract; 4. Unfairly discriminate or permit …