No think of it this way. The first 4 have to do if you hit someone else. It’s for them.
The next 2 Comp/Coll have to do to fix your car. If you don’t have Comp/Col, who’s going to fix your car when it’s a YOUR FAULT accident?
All 5(Actually 6) numbers have to be met, but #2 and #3 can be merged into #4. That’s all it says.
Yes, but the insurance companies do periodically report this info, and when they do, expect them to backcharge for the whole time you’ve been under insured. You’re betting against the house and the stakes are high.
This is one of those times where it’d be wise to adult.