Private Auto Bond (Insurance)
The self-Insurance through private Subrogation Bonding meets all states requirements for LIABILITY. At the present it is a form of self insurance that eliminates the need for you to purchase monthly liability Insurance. This Bond is good for 2-5 Years depending on the package you choose and each state's requirements. It is being accepted by DMV's and even some banks that hold a loan on your car as valid liability. Once the application is completed, you will receive an insurance card to carry with you containing your policy (bond) number.
Since at present this is a form of "self-Insurance," you will want to review your safety record when traveling. Are you generally a very safe and proactive traveler who is very careful and never reckless? If you answered YES, this may be an excellent choice for you.
Note: Currently the Bonding Team is working on the process of being able to have a full coverage
insurance bond, but it is not currently available.
We have had an attorney check out these bonds over a two week period and tell us that they ARE valid and can be collected on, so it is promising. However, the process is not ready for use.