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New minimum car insurance liability limits: 30/60/15 Change effective Jan. 1, 2025 The 2025 minimum coverage increase in California marks the first time coverage requirements have changed in 56 years.
Bankrate takes a close look at minimum requirements for car insurance in each state. ... New Jersey’s minimum limits will increase again in January 2026, to 35/70/25 for liability and 35/70 for ...
In lieu of auto insurance, individuals can either (1) deposit $10,000 in cash, stocks, or bonds with the State Treasurer [33] who will issue a receipt [34] or (2) obtain a motor vehicle liability bond equal to the state minimum limits.
In 2022, Gov. Gavin Newsom signed Senate Bill 1107, also known as the Protect California Drivers Act, into law which increases the minimum auto liability limits. However, implementation of the law ...
An SR-22 is not an insurance policy, but a filing, or an add-on, that is added to a personal automobile liability insurance policy. Not all insurance carriers offer SR-22 filings in all territories. For instance, an insurer may offer traditional base coverage in a particular state but not issue an SR-22 in that state. [4]
For instance, if your car's value has dropped to $25,000 but you still owe $30,000 on your loan, gap insurance would cover that $5,000 difference if your car is totaled or stolen.
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