Montana auto insurance policy requirements as per the state law involves two aspects. For every injured person, the minimum Bodily Injury Liability amount is $25,000, and it should not to exceed $50,000 per accident. The law also states that a minimum limit for the Property Damage Liability Coverage is $10,000.
Such a basic policy is often referred to as 25/50/10 coverage according to the amounts specified therein. Montana abides by a Tort system according to which a person must be proved to be responsible for an accident and that person and the insurer of the vehicle would be held liable for all damages. The Tort system varies from one state to another. The residents of Montana paid premium of $1,724 on an average in 2009 as against a national average of $1,796. Montana auto insurance companies segment their policies in such a way so that they cover all the requirements of the customers and all the insurance companies have the right kind of product mix to maximize their gains. Therefore in the Montana auto insurance market one should search for the right kind of insurance.
Legal compliance with Montana auto insurance and driving laws requires adherence to four rules. Firstly, possession of a surety bond issued by an authorized company that can operate in Montana. Else, one should be able to produce two individual sureties from two people owning real estates valued at a minimum of twice the value of the bond. The driver should be able to make a cash deposit of $55,000 with the state treasurer. If one has a minimum of 25 vehicles registered under his/her name, then he/she is required to get a self-insurance certificate. Lastly, the driver must possess conventional liability insurance from a recognized insurer.
The above compliance policies ensure that one is financially responsible for the vehicle that he or she drives in the state of Montana.
If a person drives in the state of Montana without Montana auto insurance, it is considered illegal and there are severe legal implications for such actions. If one is a first time offender then he/she would slapped a fine of up to $500 with or without a jail term of up to 10 days. In addition to that, the defaulter could be charged with up to 5 points on his/her driving license.
Quick online facts on quality and affordable Montana auto insurance, now under full review on http://www.onlineautoinsurance.com/montana/
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