OK - here's the deal with self-insurance. The law doesn't state that you have to take out motor vehicle insurance. It says that you must provide coverage for Third Party liability, meaning if you drunk and you run into somebody yard (or worse a person), you have to be able to provide for their expenses.
Motor vehicle insurance is the cheapest way to do this, but if no one wants to insure you, you will need to deposit $200,000.00
with the Comptroller of Accounts. This is acutal legislation I'm reading that's a few years old, so I dunno if that figure has since increased - we haven't been advised as such. (I never said it was cheap - I only said it was possible
).
I work in an insurance company (no names calling - I need my job
) and can verify this is valid information.