Montana Car Insurance Requirements, Rules and Laws: Explore Minimum Coverage
If you want to drive legally in Montana, you have to show that you have financial responsibility. The easiest way to maintain financial responsibility is by purchasing car insurance. In Montana, you have to purchase liability insurance. The liability insurance requirement for one person is $25,000. If multiple persons are involved in the accidents, the liability insurance should worth $50,000. The minimum requirement for property damage is $10,000. It is advised that you buy more insurance that the minimum requirements so that your finance will be secure all the time. If you are car has low value, you don’t have to buy more insurance because it won’t be worth it.
If you don’t want to opt for the traditional liability insurance, you must show proof of financial responsibility. The proof of financial responsibility can be shown in many ways. You can carry a surety bond that is issued by an authorized surety company. Alternatively, you can get a bond with two individual sureties. The sureties must own a real estate in Montana. The real estate should worth two times the value of the surety bond. You can deposit $55,000 with the treasurer of the state. You can get a self insurance certificate. The self insurance certificate is applicable to individual who has at least 25 cars register is the state. The vehicles must be registered under his name in Montana.
It is important that you bring the proof of insurance with you when you are traveling. The insurance identification card must be carried with you all the time. If you don’t have traditional liability insurance, you must be able to show the proof of bond. The proof of bond can be obtained from the surety agent. You can also use a confirmation letter from the State Treasurer as proof of financial responsibility if you are a state treasurer. If you are self insured, you must provide a confirmation letter or certificate to prove your financial responsibility.
If you fail to provide proof about your financial responsibility, you can be fined or imprisoned by the authorities. If you are fined, you have to pay $500. The authority can imprison you for 10 days in jail. Besides, 5 points will be deducted on your driving record. If you have repeated the offence two times, you will be fined for $350. You will also be sentenced to jail in 10 days just like the first offense. Your driving license will be suspended for 3 months as well.
Montana Department of Insurance
- 840 Helena Ave.
- Helena, MT 59601
- Phone: (800) 332-6148
- Fax: (406) 444-3497
Montana Department of Transportation
- 2701 Prospect Ave.
- Helena MT 59620
- Phone: (406) 444-6201