There shall be at all times in force and effect on any ambulance vehicle operating in this state insurance issued by an insurance company licensed to do business in this state, which shall provide coverage:
For injury to or death of individuals resulting from any cause for which the owner of said ambulance would be liable regardless of whether the ambulance was being driven by the owner or his agent; and
Against damage to the property of another, including personal property.
The minimum amounts of such insurance coverage shall be determined by the board with the advice of the advisory council, except that the minimum coverage shall not be less than Twenty-five Thousand Dollars ($25,000.00) for bodily injury to or death of one (1) person in any one (1) accident, Fifty Thousand Dollars ($50,000.00) for bodily injury to or death of two (2) or more persons in any one (1) accident, and Ten Thousand Dollars ($10,000.00) for damage to or destruction of property of others in any one (1) accident.