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Minimum self-insurance requirements. California. $35,000 cash deposit or surety bond. Connecticut. $50,000 cash or its equivalent for first vehicle, $60,000 for the second vehicle, $65,000 for the ...
If you choose to purchase a car insurance policy instead, it must comply with Virginia auto insurance requirements. For policies effective January 1, 2022 to December 31, 2024, drivers must carry ...
North Carolina is the only state to require that a driver hold liability insurance before a license can be issued. North Carolina does allow for a "fleet license" to be issued if the license holder has no insurance, however the fleet license only allows for the driver to operate vehicles owned and insured by their employer. The license holder ...
Here is the amount of coverage that the state requires: $30,000 in bodily injury liability coverage per person. $60,000 in bodily injury liability coverage per accident. $25,000 in property damage ...
The regulations for vehicle insurance differ with each of the 50 US states and other territories, with each U.S. state having its own mandatory minimum coverage requirements (see separate main article). 48 U.S. states and the District of Columbia require drivers to have insurance coverage for both bodily injury and property damage, with New ...
Insurance, generally, is a contract in which the insurer agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium). [2]
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