[tptacek]

Side note here on how ludicrous it is that you can substitute a $35,000 bond for a real insurance policy, given the likelihood that any driver is going to cause losses far in excess of $35,000.

[toast0]

Minimum insurance in California only covers the same $35,000. $15,000 for injuries to one person, $30,000 for injuries to multiple people, and $5,000 for property damage.

It's completely insufficient, but it's not nothing. A reasonable person would carry much more insurance.

[creato]

The 35k bond doesn’t preclude getting sued for an unbounded amount. Presumably the idea is that a 35k bond demonstrates you have more available in case of a judgment.

That said, that seems like a risky idea in a world full of LLCs, trusts, etc.

[dragonwriter]

No. it demonstrates exactly the same minimum ability to pay as the alternative minimum deposit or insurance coverage, which are also $35k.

[tptacek]

Not having any insurance coverage at all doesn't preclude you from getting sued for an unbounded amount.

[dragonwriter]

$35,000 is also the minimum liability coverage ($30,000 for death or injury to multiple people plus $5,000 for property damage.)

In either the bond, deposit, or liability insurance scenario, the responsible party remains on the hook for whatever is not covered in advance.