Advantage Vanpool Insurance Program


What is a vanpool self-insurance pool?

A vanpool self-insurance pool is a group of vanpool owners who contribute annual membership fees to a pool managed by the Virginia Division of Risk Management. These membership fees, or contributions, are used to self-insure their commuter vanpools. Through the pool, vanpool owners share common risks via a combination of self-funding and insurance.

How is it different from traditional insurance?

Self-insurance pools operate similarly to insurance companies. In fact, pool members rarely notice a difference—especially when it comes to claim service and legal defense. The primary difference is that vanpool members share their risks with one another. This means that everyone contributes membership fees into a pool, and the money in that pool is used to provide liability protection.

Are annual membership fees consistent from year to year?

The annual membership fee may vary based upon the claim experience of the pool, projected costs and industry-wide experience.

Excessive "at fault" accidents, citations or the unsafe operation of vehicles may result—at the sole discretion of the Division of Risk Management—in increased contributions or "premiums" and/or higher deductible requirements for individual vanpool owners.

How do you collect membership fees? How often?

Membership fees are paid to the Division of Risk Management monthly, quarterly or annually based on which payment option you select. Detailed payment instructions will be provided when you join.

Why do we need a self-insurance pool for vanpools?

Over the past several years, insurance options for vanpools have declined to a critically low level. Vanpools provide a tremendous environmental benefit to Virginia, removing over 3,500 vehicles daily from Fredericksburg to the Washington, DC area—improving air quality and keeping Virginia cleaner and greener. The AdVANtage program will ensure that vanpoolers in Virginia have more choices when it comes to vanpool protection, so that vanpooling will remain a viable transportation alternative.

Who is the Division of Risk Management and what role do they have in this program?

The Division of Risk Management (DRM) is a division of the Virginia Department of the Treasury and has been operating risk management and self-insurance programs, and providing claim and loss control service, since 1986. DRM is the claims administrator for the AdVANtage self-insurance pool that provides claim and loss control services.

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