State financial responsibility laws differ so in many states there are options other than obtaining auto insurance to show financial responsibility for your car and that you would be able to take care of and be responsible for any accidents you caused.

For example the state of Ohio requires motorists to have either car insurance or other proof of financial responsibility (FR). To comply with the OH FR requirements, individuals must maintain 1 of the following:

• A motorist liability insurance policy;
• A $30,000 bond issued by an authorized surety or insurance company;
• A certificate of proof of financial responsibility signed by an insurance agent on a from prescribed the OH Bureau of Motor Vehicles (BMV);
• A certificate issued by the BMV, indicating that money or government bonds in the amount of $30,000 is on deposit with the Treasurer of State;
• A certificate of bond issued by the BMV in the amount of $30,000 signed by 2 people who own real estate having equity of at least $60,000;
• A certificate of self-insurance issued by the BMV to those with more than 25 motor vehicles registered in their name or a company's name.

Another example is of what is required in California. California’s Compulsory Financial Responsibility Law requires every driver and owner of a motor vehicle to be financially responsible for their actions. There are four ways to show financial responsibility which the CA DMV will accept:

1. Coverage by a motor vehicle or automobile liability insurance policy;
2. A cash deposit of $35,000 with the Department of Motor Vehicles (DMV);
3. A certificate of self-insurance issued by DMV to owners of fleets of more than 25 vehicles; or
4. A surety bond for $35,000 obtained from an insurance company licensed to do business in California.

As you can see in some states there are ways other than obtaining car insurance in which you can show financial responsibility (though some states do require auto insurance as your proof of FR).

If you are in a state where you can show FR in ways other than an auto insurance policy you should check with your state's Department of Motor Vehicles to find out what your options are. Just having an asset with a large cash value is not normally one way in which to show FR, a large cash deposit may be an option though depending upon state laws.