Re:The full story of Thailand’s extraordinary cave rescue
by Aloha on Monday July 16, 2018 @02:48AM
(#17539248)
In California for example, You post the bond in the amount required by the state (35k), that acts as your certificate of insurance. Purchase a surety bond from a company licensed in California, or file a certificate of self insurance (only for motor carriers, and requires a 300-750k deposit), or you can purchase traditional liability insurance.
https://www.dmv.ca.gov/portal/dmv/detail/pubs/brochures/fast...
Re:The full story of Thailand’s extraordinary cave rescue
by justinator on Monday July 16, 2018 @11:58AM
(#17542315)
But why would one do that, rather than pay insurance? What's the benefit to the driver?
Re:The full story of Thailand’s extraordinary cave rescue
by Aloha on Monday July 16, 2018 @02:11PM
(#17543530)
In the long run, its cheaper - if you have the initial capital.
Re:The full story of Thailand’s extraordinary cave rescue
by justinator on Monday July 16, 2018 @06:31PM
(#17545736)
So it's an example of, "being poor is more expensive than being rich"
Any other pluses to doing it this way?
Re:The full story of Thailand’s extraordinary cave rescue
by Aloha on Tuesday July 17, 2018 @01:40AM
(#17547545)
One less thing to worry about, you file the bond once, and its good forever
Re:The full story of Thailand’s extraordinary cave rescue
by SamReidHughes on Monday July 16, 2018 @02:15AM
(#17539140)
No, it's not.
Insurance requirements are for liability -- the other car and driver.
Also see companies dealing in business malpractices that only receive a pittance of a fine as the outcome of losing the legal trial. ie: "cost of doing business"