Random auto insurance discussion for yall. Theres no arguing that liability insurance covers the person and comprehensive/collision covers the vehicle. So my question does someone only need at least the minimum state liability on one car and then not need to insure the other vehicles if all is required is liability? I am guessing yes. But the problem with the CA DMV is the insurance companies send the updated insurance annually come registration time and of course not having a car on your policy would look like it is insurance-less. In other words, complying with state law does not necessarily mean we are complying with DMV law when it comes to registration renewal. I believe the DMV will then mail out a noncompliance letter. I am curious if anybody here has received one? If so, there are alternatives to carrying traditional insurance including a $35k cash deposit with the DMV of surety bond. You can even self-insure yourself assuming you meet the state minimum requirements for number of owned cars (I believe it is 25 in CA). Discuss away!
Posted on: Tue, 23 Sep 2014 23:30:21 +0000
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