CHAPTER 5 What’s Required and Ho ed and How to Get It o Get It Every state has a different requirement when it comes to auto insurance, and laws tend to change over time. The best ways to find out what coverage you legally need are to ask your agent or broker, check out your state’s DMV or BMV website, or visit the National Associate of Insurance Commissioner’s website. While you could certainly use a search engine, as well, I don’t recommend this, since not every website will have the most recent information.
What Insurance Is Required Where
Each state has its own minimum insurance requirements. Some states just require proof of financial responsibility. If a driver is in an accident and doesn’t meet his or her state’s requirements, his or her license and registration will probably be suspended. At the time of this book’s publishing, the only two states that don’t require any kind of insurance are New Hampshire and Virginia, although most residents of both states do choose to get some type of coverage. (I’m sure you can understand why at this point.) New Hampshire requires at-fault drivers to pay up to $25,000 for property damage and up to $50,000 for liability. Virginia requires drivers to pay $500 to the state if they opt out of insurance. However, they’re still liable if they cause an accident. Also, as of the time I wrote this book, thirty states have a bond option. Instead of buying insurance, drivers can buy a bond, and they carry a card with them to prove this when they’re driving, much like an auto insurance card. Its money can be used only 22
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