Which insurance type is a mandatory form of insurance in the us
Perhaps the most well-known type of compulsory insurance is automobile liability insurance, which drivers are required to carry. In the past, physical insurance cards were required. Now, many states allow the use of electronic proofs of car insurance.
Which type of insurance is mandatory?
The general insurance cover that is mandatory is third-party liability car insurance. This is the minimum coverage that a vehicle should have before they can ply on Indian roads.
What type of insurance is mandatory in some states?
Liability insurance: Almost all states require a minimum amount of liability insurance. This coverage helps pay for any injuries or damages you cause in a car accident, including those of the other driver and their passengers.
Which type of insurance is made mandatory by law in most US states?
With the exception of Florida, every state requires bodily injury liability insurance (BI), while all 50 states plus Washington, D.C., require property damage liability (PD). Roughly half of the states require a type of uninsured/underinsured motorist insurance (UIM).