California Vehicle Insurance
Reader’s Question:
My aunt will be moving in California with her family. She’s asking me to give some information about auto insurance stuff here. I don’t know a lot about car insurance so I need some little help here. What can you tell me about California vehicle insurance?
Jun
Glendale, CA
Hello there Jun! I do hope your aunt will enjoy staying here in California.
As to your question, the California vehicle insurance is pretty simple. Let me first tell you something about the Financial Responsibility Law here.
The state of California has a Financial Responsibility Law that requires every driver driving in California to financially responsible in an event that an accident occurred. This ensures everyone that if an accident happened, the person at fault is financially responsible to pay for the other party’s damages that resulted from said accident.
To meet the financial responsibility law you have four options:
- Get a California vehicle insurance coverage (which most people prefer);
- A $35,000 cash deposit to DMV;
- A self-insurance certificate issued by the CA DMV (if you have 25 vehicles or more);
- A surety bond amounting to $25,000 from a licensed auto insurance company in California
Also, the required minimum limits for California vehicle insurance are: $15,000 for injury or death/person; $30,000 bodily injury/accident; $5000 for damage on property/accident.
For more information about California auto insurance, feel free to check with the CA Department of Insurance.
Loading ...