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Originally Posted by Thymeclock
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You have a lot to learn about how insurance works and you are missing the point. I suggest you read the link I posted and digest it.
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You might be wanting to do some homework before you start typing too.
Quote:
Originally Posted by Thymeclock
There are a lot of people driving who can't afford it. But if I have $50,000 to post as a bond to self-insure myself, why should I not be allowed to do so? Because the state won't allow it and the insurance companies won't make any profit on it, that's why.
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A lot of states will allow you to post cash in lieu of buying insurance, new york does not appear to be among them though.
Quote:
Originally Posted by Thymeclock
One of the few states that supposedly does not require mandatory liability insurance requires a cash bond in lieu of it (as I recall it is Virginia that offers that) - but that state cleverly collects a very hefty added 'fee' (read: TAX) for choosing that alternative.
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Two problems,
1. there are actually many states that allow a cash bond.
2. Virginia actually does NOT allow private vehicles to have a cash bond in lieu of insurance, but they do "allow" you to pay $500 to register as uninsured. Which is "fair" considering that other drivers are paying extra for insurance to use the road. I guess you wind up paying the $500/year if circumstance has you in a much more expensive liability bracket.
Virginia Car Insurance Center - Get VA Auto Insurance Quotes from Multiple Providers at DMV.org: The Unofficial DMV Guide
You need to be careful when reporting on other states that you know little about or are too lazy to research on your own. If you are parroting some other source with an agenda, don't. You are responsible for the accuracy of the information you post.