What happens if the at fault driver has state minimum required insurance?

Answer 1

If you are victim of an accident caused by a person with minimum insurance, then it would limit how much you'd be able to collect from the At Fault driver's insurance.

But you could still try to gain personal assets from that at fault driver.

If you are the driver who caused the accident and you have minimum insurance, then the person(s) you hit could potentially exhaust all the money in your state minimum policy and then come after you for more money if they are deemed to need it. The courts will require you to liquidate certain assets and turn them over to the victims. It could potentially bankrupt you, depending on your state's laws over what you can shield from liquidation. This is the main reason why you should almost NEVER drive with just the state mandated minimum unless you have to.