Ohio Auto Insurance Requirements
The state of Ohio requires all drivers to carry proof of financial responsibility in their vehicles at all times. Failure to provide such proof is a direct violation of state law and can carry serious consequences. The minimum liability insurance coverage laws are put into place by state governments to ensure that all people have the ability to financially cover damages they could potentially create in the event of an accident.
The minimum coverage required by the state of Ohio is $12,500 for bodily injury or death to one person, $25,000 for multiple injuries or death, and $7,500 for property damage. The state does offer alternative means of insurance besides a liability policy. You can post a $30,000 bond with the state of Ohio or through an insurance company or a real estate bond that has a value of at least $60,000. These state guidelines are merely the legal minimum. You are encouraged by insurance experts to be covered for more than these stated minimums in case of a serious accident.
Random checks to ensure that drivers are carrying the required amount of insurance may be conducted by the police officers of this state. If you are found to not have sufficient insurance coverage you could lose your vehicle’s registration, driving privileges for up to 2 years. Renewing registration and plates for your vehicle could be very costly. Your vehicle could also be impounded for up to 60 days if you continue to drive after this suspension.
Having insurance in the state of Ohio is mandatory. Getting caught without it could cost much more than what an insurance premium will cost you. Taking this into consideration, when you are shopping for a new insurance policy you should get quotes from several different insurance companies before you make your final purchase. This will ensure that you are getting the best rate for your coverage. You should also consider being covered for more than the state minimums to create a security blanket for your family and yourself in case of an accident.