Antique cars are exempt from mandatory insurance laws in Washington.
Drivers in the state of Washington must meet the mandatory minimum levels for vehicle insurance. The law applies to automobiles registered within the state as well as those registered in other states. Therefore, drivers who do not live in Washington but drive in that state should make sure that their policy limits are sufficient to meet the Washington requirements. The state allows drivers to meet the legal requirements in various ways.
Insurance Policy
Drivers can purchase an automobile policy from a company licensed to sell vehicle insurance in the state. The policy must provide at least $10,000 in property damage liability, $25,000 of individual bodily injury liability (for one person injured in an accident) and $50,000 of collective bodily injury liability to cover injuries to more than one person injured in a single accident.
Self-Insurance
If an individual or company owns at least 26 vehicles, it is possible to self-insure the fleet. Those who believe they might qualify should contact the Washington Department of Licensing for an application.
Liability Bond
Drivers can apply for insurance with a surety bond issuer who is licensed in the state of Washington. A liability bond for a minimum of $60,000 is an acceptable substitute for a liability insurance policy.
Certificate of Deposit
In lieu of a bond or auto insurance policy, drivers can deposit collateral or cash with the state treasurer or a bank account that is established for the state. The minimum deposit is $60,000.
Exceptions
Certain vehicles are not required to furnish liability insurance, although drivers are still financially responsible for any damages they cause. Exempt vehicles include collector's cars that are more than 30 years old, antique vehicles that are licensed as such and are more than 40 years old, vehicles that are leased or owned by a government or political agency and contract or common carriers. Motorcycles, mopeds and motor scooters are also exempt.
Tags: more than, bodily injury, bodily injury liability, injury liability, liability insurance
