property insurance coverage

My company is requireing insurance coverage, is legal, can they fire me if they do not have?
I carry minimum insurance for me and my boyfriend (both work same place). and our company says we must have a minimum $ 100,000 liability insurance on the property damage, liability of $ 100,000 in personal injury and $ 300,000 per incident. No way that I can afford my payment ….
The company can not legally compel pay for coverage additional insurance unless the company will reimburse for the expense. Do you have an employment contract that requires the coverage? Is there a company policy in writing to that affect? I would call the state Department of Labor and ask.