Financial responsibility laws require that drivers involved in accidents either have a prescribed minimum amount of personal liability and property damage insurance, or prove that they can pay damages up to a certain amount, if found liable for an accident.

Question

Financial responsibility laws require that drivers involved in accidents either have a prescribed minimum amount of personal liability and property damage insurance, or prove that they can pay damages up to a certain amount, if found liable for an accident.​

Quizplus · Accepted Answer

Financial responsibility laws are in place to ensure that drivers can cover costs associated with damages and injuries in the event of a car accident for which they are found liable. These laws typically require drivers to have a minimum amount of liability insurance or demonstrate the financial capability to pay for damages out-of-pocket up to a certain amount.

Financial Responsibility Laws Require That Drivers Involved in Accidents Either