frequently asked questions
What are the minimum financial responsibility limits of each state?
For drivers between the ages of 18 and 20 at our universities, we provide coverage up to the minimum financial responsibility limits required by law in the jurisdiction in which the accident occurs or the claim is adjudicated. Each state has its own minimum financial responsibility limits. Here's the scoop...
How to read minimum financial responsibility limits
The following information will help you understand the table of minimum financial liability limits.
First number: bodily injury liability maximum for one person injured in an accident.
Second number: bodily injury liability maximum for all injuries in one accident.
Third number: property damage liability maximum for one accident.
So, looking at the table, you find that in Alabama the required financial liability limits are $25,000 for injury liability per person in an accident, $50,000 for all injuries in an accident, and $25,000 for property damage in an accident.
The insurance laws of some states also depict requirements in terms of a combined single limit (CSL).
For example, if the chart shows “15/30/10 or 40”, the law provides that a policy with a CSL of at least $40,000 will also satisfy the requirement. A CSL of $40,000 means that the insurance will pay up to $40,000 for all bodily injury and property damage arising out of each accident.
The following data was last updated in January 2013. For up-to-date information please check with your state insurance commissioner.
|State||State Minimum Financial Liability Limits|
|District of Columbia||25/50/10|
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