A person or company desiring to qualify as a self-insurer must file a proposal of self-insurance with PennDOT for approval. This proposal will include:
- An Application for Self Insurance (PDF)
- Master self-insurance and security agreement
- A balance sheet and income statement which shall reflect the actual financial condition for the person as of the last completed calendar or fiscal year preceding the date of the proposal. The minimum required security (collateral) that must be furnished to PennDOT is, for one secured vehicle, $50,000, and for each additional vehicle, $10,000, up to a maximum of $1,000,000. Collateral can come in the form of US currency, US Treasury bills, US Treasury notes, escrow deposits (for the sole purpose of covering requirements for self insurance) in banks, credit unions and savings/loans, bonds, and other security offered for review by PennDOT.