Many drivers wonder if it’s legal to use their cars without any insurance, and the answer is that it is possible to do so in many states, as long as those drivers also have a very large amount of cash. In Ohio, as long as you carry a form of proof of financial responsibility, you are legally allowed to drive without any car insurance. To do this, you must either make a deposit of at least $30,000 with the state treasurer, or you must purchase a bond worth at least…
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New auto insurance law in Oklahoma set to impact the insurance industry
A new law regarding auto insurance is set to take effect November 1 in Oklahoma. Farmers Insurance, the state’s largest auto insurance company, has taken this opportunity to remind drivers of the law and how it will affect them. The law – Senate Bill 272 – will introduce new requirements for auto insurance and stricter penalties for drivers without insurance or those underinsured. Farmers notes that the law will likely benefit consumers as a whole, but may make changes to existing policies. The law will reduce the amount of money…
Read MoreOver 20 percent of drivers in Texas aren’t insured
In Texas, more than 1 in every 5 drivers does not have adequate auto insurance to comply with the laws within that state. According to a recent report by the Texas Department of Insurance, 21.6 percent of all of the drivers in the state were operating their vehicles while uninsured. Dallas County had the largest number of uninsured drivers among the most populated counties in the state, with 24.1 percent of its drivers lacking insurance. Bexar county followed closely behind with 22.9 percent of drivers being uninsured. In the entire…
Read MoreUninsured motorists are in for a surprise with new “no pay/no play” law
Kansas set to join the growing number of states adopting the “no pay/no play” insurance law in an effort to reduce the number of uninsured drivers. States across the nation are enforcing new laws in an attempt to get drivers to obtain and keep insurance. The latest statistics show around 13 percent of Kansas drivers are uninsured. While not good, it is still lower than several states, including neighboring Oklahoma, whose uninsured drivers rank over 20 percent. The property and casualty insurers’ support the no pay/no play laws and feel…
Read MoreMore and more people driving without insurance
The high unemployment rates and continuing poor economy have affected almost everyone across the United States. When people lose a job they start looking at where they can cut their bills to make ends meet. Unfortunately, sometimes their car insurance is one of the areas that get cut. The rate of uninsured drivers for 2010 hit 16.1 percent. Several states have amended previous insurance requirements, or changed the minimum amounts a driver is required to carry. Some states have changed coverage that was once mandatory, like underinsured motorist, and made…
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