Ohio Car Insurance
Auto liability insurance is mandatory for drivers in Ohio. All Ohio drivers are required to carry a minimum of $12,500 per person, $25,000 per accident for bodily injury liability coverage and $7,500 minimum coverage for property damage. These are minimum coverage amounts that protect the driver up to the coverage limits for the specified damage types in the event of an at fault accident. These amounts are some of the lowest required amounts in the United States.
Purchase Optional Higher Limits
Ohio drivers would be well advised to purchase optional higher coverage limits. The Ohio Insurance Department suggests drivers have liability coverage amounts of $100,00 per person, $300,000 per accident for bodily injury damages, $100,000 for property damage liability, and $5,000 in coverage for medical payment. Medical payment coverage is optional but pays for medical bills for a driver and their passengers up to the policy limits, regardless of who is at fault.
UIM Coverage
In Ohio, drivers are not required by law to purchase Uninsured/Underinsured Motorist ("UIM") coverage but it is a good idea. UIM coverage applies when a driver at fault for an accident is uninsured or does not have enough insurance to pay for the damages sustained by the other driver(s) or passengers in the accident. For example, if a driver in an accident in Ohio had $12,500/$25,000 UIM coverage, he or she would be able make a UIM claim with their auto insurance company and be able to receive up to $12,500 for their own bodily injury damages. Per the policy limits, their insurance company would only pay up to $25,000 for all UIM bodily injury claims stemming from the accident.
Keep Your Car Insurance Current
Ohio drivers face substantial risk by not carrying insurance. Uninsured drivers face a fine and may forced to comply with state financial responsibility laws and purchase expensive SR–22 Insurance. Uninsured drivers can also be held personally responsible for damages caused by an accident. With some auto accidents involving hundreds of thousands of dollars in damages, driving without car insurance in Ohio can lead to financial ruin and put an individual and their family at risk of losing substantial assets. Ohio drivers should always know when their auto insurance policy expires to avoid a lapse in coverage.
Collision and Comprehensive Coverage
Other important available insurance coverage types in Ohio include Collision and Comprehensive coverage. These coverage types are not required by law but can be very important in the event of an accident. Also, many financial institutions require vehicle owners to purchase collision and comprehensive coverage as a condition of their loans.
Collision pays for vehicle repairs or vehicle replacement value following a collision regardless of fault. Comprehensive coverage pays for all vehicle repair damage or replacement value for incidents other than a collision such as the tree falling on a car or the car being stolen. There are minimum deductible limits for these collision and comprehensive such as $500, but Ohio drivers can also raise their deductible amounts to lower their premiums. Other types of auto insurance coverage to consider purchasing in Ohio include rental car, towing, roadside assistance, and wage loss benefits resulting from an accident.
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