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Liability is an important component of a car insurance policy, so understanding how the liability portion of your auto insurance policy works is crucial. ... The liability limits vary from state ...
In lieu of auto insurance, individuals can either (1) deposit $10,000 in cash, stocks, or bonds with the State Treasurer [34] who will issue a receipt [35] or (2) obtain a motor vehicle liability bond equal to the state minimum limits.
The state’s minimum-liability car insurance requirements are set to increase Jan. 1, 2025. ... Generally, liability-only coverage costs less than full-coverage car insurance. Coverage limits: ...
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 ...
For liability coverage, most insurance professionals advise that you purchase limits higher than state minimum levels to protect yourself against financial strain in the event of an at-fault accident.
The minimum coverage defined by German law for car liability insurance / third-party personal insurance is €7,500,000 for bodily injury (damage to people), €500,000 for property damage and €50,000 for financial/fortune loss which is in no direct or indirect coherence with bodily injury or property damage. [24]
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