`$35,000 cash deposit to the dmv
`DmV certificate of self-insurance
`Insurance Policy card from your insuracne company.
`all of the above
2007-05-05 16:25:45 · 5 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
- $35K cash deposit to DMV is never a "legal proof of insurance," the DMV wouldn't take a $35K cash deposit.
- DMV will not provide you a certificate of self insurance.
- Insurance policy card from your insurance company is the ONLY legal proof of insurance. And the insurance must be valid. Of course most likely the police and DMV will not make sure it's valid - but if it is not - and you are involved in an accident - you will be considered an uninsured motorist.
2007-05-05 19:14:35 · answer #1 · answered by S17V 4 · 0⤊ 0⤋
Cash placed in escrow is not proof of insurance. Depending on the jurisdiction it may be proof of financial responsibility, which is acceptable instead of liability insurance, BUT IT IS NOT INSURANCE. Self-insurance is what most governments do, because it is cheaper to absorb the claims on hundreds of vehicles than it is to pay premiums. Individuals normally do not because it is not worth the risk, and you even have to pay for your own lawyer if you get sued, because somebody else's insurance company will have a lawyer coming after everything you own. The only true proof of insurance is a card from the insurance company saying they have issued an insurance policy.
2007-05-05 18:53:22 · answer #2 · answered by Fred C 7 · 0⤊ 1⤋
Depending upon your individual state requirements, it sounds like all of the above.. although item #2 is not generally something available to the general public (Cities and the US government do the 'self insured' thing)
2007-05-05 17:57:29 · answer #3 · answered by ca_surveyor 7 · 0⤊ 1⤋
all of the above except each state has a different amount of cash deposit check out globalwideinsurance. com
2007-05-06 01:37:52 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Question 21: Should people use Yahoo Answers to cheat of homework and tests? Answer: No.
2016-05-21 05:59:56 · answer #5 · answered by ? 3 · 0⤊ 0⤋