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North Carolina is the only state to require that a driver hold liability insurance before a license can be issued. North Carolina does allow for a "fleet license" to be issued if the license holder has no insurance, however the fleet license only allows for the driver to operate vehicles owned and insured by their employer. The license holder ...
In respect of Act Only Liability Motor Vehicle Insurance, the compensation for personal injuries and property damage to third parties is ৳ 20,000 (US$170) BDT 20,000 for death, ৳ 10,000 (US$85) for severe injury, ৳ 5,000 (US$43) for injury, and ৳ 50,000 (US$425) for property damage.
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy .
For liability coverage, most insurance professionals advise that you purchase limits higher than state minimum levels to protect yourself against financial strain in the event of an at-fault accident.
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...
FR-44 requirements: Similar to an SR-22, an FR-44 form is required in only some states to demonstrate that you have secured and carry auto insurance with higher liability limits than those ...
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