Summary
Financial responsibility laws require motorists to show proof of financial responsibility after an accident involving bodily injury or property damage over a certain amount, for conviction of certain offenses, and for failure to pay a final judgment resulting from an auto accident. Most motorists meet the financial responsibility law requirements by carrying auto liability insurance limits of a certain amount.
Compulsory insurance laws require motorists to carry auto liability insurance at least equal to a certain amount before the vehicle can be licensed or registered.
A few states have unsatisfied judgment funds to compensate accident victims who have exhausted all other means of recovery. The accident victim must obtain a judgment ...
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