Asked in Business & FinanceInsuranceMotorcycle Insurance
Is motorcycle insurance mandatory in Tennessee?
August 14, 2007 11:25AM
'financial responsibility'' is required in all states, meaning you'd better have enough money to pay for any and all claims you are deemed negligent or liable for should one arrise (to the injured party)..this is why most folks carry insurance, we don't have this much money setting around....all state have min.of the amount of liabilty ins we must carry or money in reserve, in the state i live in (MO) it is (i believe haven't checked this in many years) 10k for property damage, 25k/50k for bodily injury and uninsured motorist respectively...so if i don't want to carry insurance i'd better have 110k in the bank just for that reason only....and of course min. limits do not mean that a claim/accident cannot go over that amount and then the injured party come to you personally for the rest.......i'd get the insurance......:)