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Non Profit Vehicles are not Exempt from Financial Resposibility Laws. All Motor Vehicle Operators must be able to demonstrate financial responsibilty. Even Municipal and Government vehicles must maintain suitable financial responsibility. Remember, The law does not require that we buy liability Insurance. Obtaining at least Liabilty Insurance is the most common and cost effective way for most people to demonstrate Financial Responsibility. Another Option for demonstrating Financial Responsibility is to place a cash bond with your state of residence in the prescribed amount sufficient to cover any future claim. This option is most often used by businesses and higher income individuals. After filing you will be issued a bond certification which you can use in lew of buying liability insurance. You are then considered to be self insured.

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โˆ™ 2007-05-27 10:54:04
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Q: Are non profit vehicles exempt from carrying liability insurance?
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