Just like in most other states, the state of Ohio requires all licensed drivers to be insured properly. Every state has different minimum coverage requirements for car insurance.
Whether you are a new driver in The Buckeye State or you are just shopping around to swap insurance companies, here is what you should know about car insurance in Ohio.
Ohio Car Insurance Requirements
Drivers in the state of Ohio must abide by the state’s financial responsibility law. One of the easiest ways to meet this requirement is by having proper liability car insurance on your policy. Here is what you will need to have on your insurance policy in order to be legal:
- Bodily injury liability: $25,000 per person or $50,000 for more than one person in one accident.
- Property damage liability: $25,000 per car accident.
While liability insurance is pretty much mandatory, you still have control over your coverage and how much you can add to your policy. There are many other options you can add to your plan if they suit your needs. Here is a list of the most common types of Ohio car insurance:
- Collision insurance: This type of coverage is there to cover the damage done to your car following an accident.
- Comprehensive insurance: This type of coverage will take care of the bill if any non-accident related damages occur to your car, such as theft or vandalism.
- Uninsured/underinsured coverage: Unfortunately, there are many drivers on the road who are taking on the highways uninsured. These types of coverages will help save you from financial burden wreaking havoc on your life if you are ever involved in an accident with an uninsured driver, or a driver without sufficient insurance.
- Towing and labor: If you are ever in a situation where your car breaks down on the side of the road, this coverage will take care of you in a pinch.
It’s important to note that the state of Ohio does not require its drivers to purchase collision and comprehensive coverages, but if you leased or took out a loan to pay for your car, you will most likely have to purchase them anyway.
Proof Of Insurance In Ohio
Don’t spend money on insurance just to get fined for not having proof! When driving around in Ohio, it’s important to have your proof of insurance on you at all times just in case you get stopped. You will be expected to show proof of insurance in the following incidents:
- You get in a car accident.
- If you get pulled over for a traffic violation and the police officer asks to see your insurance card.
- If you are randomly chosen by the Bureau of Motor Vehicles (BMV): The Ohio BMV randomly chooses about 5,400 register car owners per week to show proof of insurance in an effort to crack down on car insurance laws. If you are chosen, you will have 21 days to send proof of insurance to the BMV.
Fines And Penalties For Not Having Proof Of Insurance
Car insurance is required by law in Ohio and failing to show proof that you have it can get you into some trouble. If you are ever asked to show proof of insurance and you are unable to do so, you can face fines and penalties including:
- Revocation of driving privileges: Once your driving privileges are revoked, you will have to pay a fee to get them back.
- Plates and registration suspension.
- Mandatory requirement of SR-22 filing: SR-22 insurance is a method of proving you have insurance that requires your insurance company to vouch for you that you will be insured for a certain amount of time. As harmless as it may sound, it’s in your best interest to avoid this as it can be expensive.
Ohio Automobile Insurance Plan
The Buckeye State has its own organization of insurance companies that exists to make car insurance accessible to all eligible drivers called the Ohio Automobile Insurance Plan (OAIP). This is really beneficial to Ohio residents, especially if you are considered to be a high-risk driver. Some high-risk drivers may be denied car insurance coverage from individual insurance companies, but the OAIP can help make sure that you find one that works for you.
To qualify for the OAIP, you need to:
- Have been rejected by an Ohio-licensed insurance company.
- Have a valid Ohio driver’s license.
Keep in mind that OAIP can be pricey, so make sure you shop around to get the best deal you can find, and only resort to the OIAP if you have no other options.