I very much doubt that third party liability exposure is limited to such a low amount - or, limited to any set amount. Under applicable law in the Netherlands, I believe that car owners have to have third party liability coverage which is hundreds of thousands, at least. Of course, knowing Dutch law in the Netherlands does not necessarily tell you what the law is in Sint Maarten. If you accidentally injure or kill someone while driving a car on the island, I would believe that you are exposed to far greater possible liability than $50,000.