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My state allows you to alternatively get a 50k bond in exchange for mandatory insurance. Not sure how many states allow that, but the poor could not afford a sp
by IronWolve 8y ago
My state allows you to alternatively get a 50k bond in exchange for mandatory insurance. Not sure how many states allow that, but the poor could not afford a spare 50k to save 2-3k a year in insurance. Also, I would think the bond could collect interest.
- JohnFen 8y agoMine as well, although I think the amount is a bit higher. It has to match the amount of liability insurance that you'd otherwise be required to carry, because you're essentially self-insuring.