What is the name of your state? Ohio
I read somewhere a while back that it's possible for someone to legally go without insurance if they can afford to escrow enough money (the state liability minimum). I would like to know where to start if I want to set up such a fund. What are these funds called?
Why would I want to do this, you might ask. Occasionally I go extended periods without driving (or driving very little). If I let my insurance coverage lapse, I'll get screwed on insurance rates when I need it again. So I've been paying for unused insurance to prevent the lapsing, and it's wasteful. My hopes are that I can self-insure by setting up whatever escrow acct, and have a way to "hide" the fact that I've lapsed on my coverage.
Is this possible?
I read somewhere a while back that it's possible for someone to legally go without insurance if they can afford to escrow enough money (the state liability minimum). I would like to know where to start if I want to set up such a fund. What are these funds called?
Why would I want to do this, you might ask. Occasionally I go extended periods without driving (or driving very little). If I let my insurance coverage lapse, I'll get screwed on insurance rates when I need it again. So I've been paying for unused insurance to prevent the lapsing, and it's wasteful. My hopes are that I can self-insure by setting up whatever escrow acct, and have a way to "hide" the fact that I've lapsed on my coverage.
Is this possible?
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