Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers
The state minimum requirements for auto insurance in California are 15/30/5. This means you have liability limits that will pay up to $15,000 in injuries to any one person and up to $30,000 to all parties you injure. Also you have another $5,000 to pay for any property you damage. In most cases its the other persons car but could be any property. While this is the legal minimum to get you on the road it most certainly is not enough coverage in my opinion, and if a claim against you exceeds the coverage amount you will be sued for the difference by the other party who wants to be made whole again. I recommend you consult with a independent agent to discuss your specific needs. If you have assets you want to protect higher limits are recommended.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The minimum insurance requirement in California is called the “financial responsibility” requirement. All drivers in California are required to carry evidence that the car that they are operating is insured to these set standards. The standards are $15,000 per person of bodily injury liability coverage, and $30,000 of bodily injury liability coverage for death to more than one person. There must be %5,000 of property damage liability insurance in place.
Insurance isn’t mandatory. There can be a cash deposit with the DMV of $35,000, or a certificate of self-insurance issued by the Department of Motor Vehicles of the State of California, or a surety bond for $35,000 issued by a company authorized to do business in California.
Insurance is the choice of most vehicle owners. The companies that insure cars in California are required to report the status of the policies of insurance electronically to the DMV. If you decide to no longer operate the automobile and it is not parked on a California highway or street, you must notify the DMV that you are suspending coverage, and why.
The minimum coverage law allows you to purchase the most expensive auto insurance policy available. While it may be adequate in many circumstances, in those circumstances where the damages sustained exceed the limits of the policy the vehicle owner will discover that all of their assets are in jeopardy and there will not be anything to help the owner, except bankruptcy.
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Insurance isn’t mandatory. There can be a cash deposit with the DMV of $35,000, or a certificate of self-insurance issued by the Department of Motor Vehicles of the State of California, or a surety bond for $35,000 issued by a company authorized to do business in California.
Insurance is the choice of most vehicle owners. The companies that insure cars in California are required to report the status of the policies of insurance electronically to the DMV. If you decide to no longer operate the automobile and it is not parked on a California highway or street, you must notify the DMV that you are suspending coverage, and why.
The minimum coverage law allows you to purchase the most expensive auto insurance policy available. While it may be adequate in many circumstances, in those circumstances where the damages sustained exceed the limits of the policy the vehicle owner will discover that all of their assets are in jeopardy and there will not be anything to help the owner, except bankruptcy.