0
What else can I help you with?
Driver bacome subject to the liability insurance law when accident damages amount to?
The amount of a claim from an accident has no bearing on the drivers legal requirement for financial responsibility. All drivers are required to carry financial responsibility before they drive. whether or not they have had an accident
Will your license be suspended for being unable to show proof of financial responsibility when involved in an accident?
true
If you cosigned a car note for a friend and he gets into an accident and a legal lawsuit and then files bankruptcy what responsibility do you have?
It becomes your financial resposibility to satisfy the note.
True or False If you are in crash where you are at fault and injuries have occurred the Financial Responsibility Law requires you to have bodily injury insurance?
True. In most states, the Financial Responsibility Law requires drivers to have bodily injury liability insurance if they are involved in a crash where they are at fault and injuries have occurred. This insurance helps cover the medical expenses of the other party involved in the accident.
What is SR22 Car Insurance in Illinois?
Anyone who has been in an accident or had a traffic violation and was unable to show financial responsibility are required to carry a SR22. It is basically showing that you have specific liability insurance.
Can you keep paying for and drive a deceased person's leased car?
Legally no, The insurance company does not have a rating for you on the car and you dont have an insurable interest (legal term for financial responsibility) in the car. Therefore the lease holder would be obligated to take the car back to prevent a financial loss in the event of an accident.
What are the benefits of including an excess waiver in your car insurance policy?
An excess waiver in your car insurance policy can help you avoid paying a large sum of money out of pocket in case of an accident or damage to your car. It can provide financial protection and peace of mind by reducing your financial responsibility in certain situations.
What is the Example of financial and non financial reward?
Examples of financial rewards:Basic salaryPerformance BonusOverseas allowanceTravelling allowancePension schemePersonal accident schemeMedical schemeProfit sharing schemeCar grantCompany carRefund of leavesExamples of financial rewards: Praise for good workRecognitionJob autonomyJob enlargementJob rotation
When are you repuired to show proof of financial responsibility?
You are typically required to show proof of financial responsibility when obtaining or renewing a driver's license, registering a vehicle, or in the event of a traffic accident. This proof can take the form of auto insurance, a surety bond, or a cash deposit, depending on state laws. Additionally, if you are cited for certain traffic violations, you may need to provide this proof to avoid penalties.
What is a proactive financial solution?
A proactive financial solution is a combination of one or more financial products that are put into place prior to some event occurring. For example, the most well-known proactive financial solution is auto insurance. In this situation, one is proactively protecting themselves financially from the potential financial injury that an automobile accident may cause.
If someone has millions of dollars enough to cover anything that may happen in an accident do they need auto insurance?
Yes, its the law. This is an excerpt from the California DMV Handbook ant it states the following: Financial Responsibility California
If you are the driver of a vehicle which is in a crash that is your fault and you are not insured in compliance with the financial responsibility law?
If you are the driver at fault in a crash and are not insured as required by financial responsibility laws, you may face severe legal consequences, including fines, license suspension, and potential civil liability for damages. Additionally, you could be held personally responsible for any injuries or property damage resulting from the accident. It is crucial to seek legal advice and understand your obligations and rights in this situation.
