Ohio Auto Insurance Requirements

The State of Ohio, known as “The Buckeye State” to its residents, is a land of contrasts. Beautiful, rolling farm country stands side-by-side with giant industrial cities, and miles of roads carry traffic ranging from sparse to completely jammed around metro urban areas.

If you are going to drive in Ohio, there are minimum auto insurance requirements that you must meet, in order to protect yourself and the other residents of this great state.

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Ohio has what is called a “financial responsibility” law. What this means is that you must be able to prove that you are financially able to bear the costs of an accident if damages must be paid.

In Ohio, you can do this in one of two ways: by securing a bond, or by having automobile liability insurance. Bonds are often carried by large companies and individuals who own numerous vehicles and have the capital to file a bond with the state to insure payment of damages.

Most people, however, opt for auto insurance.

Ohio Minimum Auto Insurance Requirements

Ohio requires both bodily injury liability and property damage liability coverage. Bodily injury liability policies protect those who might be injured in a wreck; property damage covers property such as fences, houses, and other objects that may be damaged by an accident.

Ohio has rather low limits for its liability insurance. You must, by law, carry at least $12,500 per person or $25,000 per accident in bodily injury liability coverage. You must also carry at least $7,500 in property damage liability.

Are Ohio auto insurance requirements enough coverage?

It is obvious that these amounts are hardly sufficient to pay for the damages one bad accident can cause. Medical bills alone could easily double or triple this amount.

Therefore, it is wise to purchase far more than the minimum of liability insurance, to avoid a situation in which your personal assets are attached for amounts not covered by your insurance.

Are you required to show proof of insurance in Ohio?

You are required to show proof of auto insurance both when you register a vehicle in Ohio and when you are stopped or are involved in an accident. Failure to show proof of insurance will require you to submit proof to the Bureau of Motor Vehicles (BMV) or risk suspension of your license.

In addition, if you are stopped and do not have insurance, or if you are involved in a wreck and are uninsured, your penalties could include having your plates taken and your vehicle impounded.

You could also have your license suspended up to 90 days for your first offense, and up to a year for your second offense.

A third offense would mean your registration would be denied and your plates impounded so that you will not be able to drive your car anymore in the state.

Additionally, you will be required to pay “reinstatement fees.” Depending on the location, these fees can range anywhere from $75-$500. You will also be required to file a special type of insurance proof with the BMV, known as an “FR” policy. This is similar to the SR-22 policies sold in many states under similar circumstances.

You may find it difficult or impossible to find reasonable insurance with any company under these conditions. An “FR” filing generally lasts from three to five years.

Rental cars, and those being drive through the state, must also meet the minimum liability requirements for insurance. If you rent a car, or bring your own car into the state, be sure that you have sufficient coverage.

Your agent can answer this question or the rental car agent from whom you rent. Be sure to keep proof of your insurance available at all times for anyone who drives your vehicle.

Supplemental Auto Insurance Coverage in Ohio

While Ohio does not require collision, comprehensive, or uninsured motorist coverage, it is always wise to consider these supplements to your policy. Collision pays for the damage to your vehicle if you cause a wreck, while comprehensive covers you for damages to your vehicle caused by weather, theft, or other catastrophic occurrences.

Perhaps most importantly, uninsured motorist protection covers you if an uninsured motorist hits you and causes bodily injury or damage to your vehicle. Because there are so many uninsured motorists on the road, most of whom have little to no personal assets to attach for payment, this can be a very wise investment.

Do auto insurance companies use your credit score in Ohio?

Ohio insurance companies are allowed to use personal credit history in determining rates. They are also allowed to exclude certain members of a household if their driving records do not meet the company’s standards.

Find affordable Ohio auto insurance today. Compare Ohio auto insurance companies, learn how auto insurance works and compare auto insurance quotes online. Simply enter your ZIP code above!

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