Final answer:
In this scenario, the insured's insurance company must meet the minimum requirements of the other state if they are involved in an 'at fault' accident there, rather than paying up to their own liability limits of 15/30/5.
Step-by-step explanation:
In this scenario, the insured has liability limits of 15/30/5 on their auto insurance policy. These numbers represent the maximum amount the insurance company will pay for bodily injury per person, bodily injury per accident, and property damage per accident.
When the insured is involved in an 'at fault' accident in another state with higher financial responsibility limits, the insured's company must meet the minimum requirements of the other state. This means that the insurance company will pay up to the higher limits required by the other state, rather than the insured's own limits of 15/30/5. There may or may not be an additional premium due for this coverage, depending on the terms of the insurance policy.
The insured's company must meet the minimum requirements of the other state with no additional premium due when the insured has an at fault accident in a state with higher liability limits.
When an insured has liability limits of 15/30/5 on their auto insurance and is involved in an at fault accident in another state with higher financial responsibility limits, the insured's company must D. Meet the minimum requirements of the other state with no additional premium due. This typically means that although the policy was written with certain coverage limits, the insurance company will adjust the coverage to meet the state's minimum legal requirements where the accident occurred. This adjustment is usually part of the policy terms and is a standard practice in the insurance industry to ensure compliance with varying state laws.