Road safety is a primary concern in Ohio, but accidents do happen, and these can cause both damage and injury. The primary objective of auto insurance is to protect from financial distress and help to indemnify the insured following a loss. The state of Ohio mandates that every automobile driver must carry an auto insurance policy.* This is not just a suggestion, there can be consequences for not carrying auto insurance.
The trouble can start when an individual either does not have an auto insurance policy or allows an existing one to lapse. You must pay your auto insurance premiums when they come due. If you do not, you risk losing your auto insurance coverage, which can send you into a world of financial and legal risk.
The Ohio Revised Code is clear about vehicle insurance. A person must show evidence of financial responsibility at an accident scene. This proof is usually a card provided by the insurance company. The law defines that the Ohio state minimum vehicle insurance amount must be:
- $25,000 for the injury or death of one person
- $50,000 for the injury or death of two or more people
- $25,000 for property damage in an accident.
To put this in insurance coverage terms, Ohio drivers need to have bodily injury liability coverage and property damage liability.
Should I carry more than the minimum limits for car insurance in Ohio?
A driver in Ohio must have at least the required amounts covered in their auto insurance policy, but many carry more coverage than the minimum. Don’t think that having the minimum coverage is necessarily all you should have. The reason you might not want to settle for just minimum coverage is because a serious accident might result in financial havoc for you if you caused it. The law in Ohio allows the victim to take any assets you may have in order to cover the costs of any damages that you cause. Therefore, the value of your assets (what you may have to lose) can help you determine the amount of coverage you should carry.
Such assets may include:
- Garnishment of present and future wages
The possibility of losing assets is why insurance agents strongly recommend having more than minimum coverage to protect you. Incidentally, if your child drives an underinsured car and causes an accident, he or she is held responsible and may have to pay a lot of money for the mistake.
East Street Insurance offers various discounts that can help you save on your policy premium.
The penalty for no car insurance in Ohio
Throughout the U.S., there are some states have no-fault auto insurance, but Ohio is not one of them. The Buckeye State is an at-fault state when it comes to auto accidents. This means that the victim can make a claim against the at-fault driver. If the claim ends up in court, an at-fault driver may have to pay court costs in addition to other accident-related expenses. We have discussed the financial problems you encounter when you lose your auto insurance, but the legal troubles can be just as frightening.
Ohio has several consequences for offenders who drive without auto insurance. These can include suspension of your driver’s license, a hefty reinstatement fee, suspension of vehicle registration and license plates, and in some cases, imprisonment.
Luckily for Ohio residents, Ohio does not have a reputation for unreasonable auto insurance premiums Individuals often have trouble understanding the minutiae of Ohio auto insurance and could use professional advice. That is where we come in. An East Street Insurance agent can help you understand what insurance you have and what you need.
East Street Insurance can solve coverage problems
At East Street Insurance, you must pay your auto insurance premiums when they come due. We offer several types of auto insurance coverage:
- Property damage liability and bodily injury liability coverages
- Collision, other than collision, medical payments and uninsured/underinsured motorists coverage
- Roadside assistance at a very reasonable price
Any of our insurance professionals will gladly explain what you, as an Ohio resident, must have in terms of auto coverage. While we may suggest higher amounts of protection to better protect your assets, we can also show you ways to save on those premiums.
We include many discounts with our insurance offerings, including Accident-Free Discount, New Business Discount and a Youthful Driver Discount. Our DriveTrend(R) program can help you save 10% for simply participating.** We offer several significant ways to save on your insurance coverage!
We suggest that you contact us at your earliest convenience to discover more about our policies and service. Or get an easy and free quote online. East Street Insurance appreciates being able to help Ohio residents with their auto insurance needs, and we have other products that we provide at affordable rates. You cannot go wrong when you have East Street Insurance as your insurance provider.
* In Ohio, it is illegal to drive any motor vehicle without insurance or other proof of financial responsibility. To comply with Ohio’s requirements, individuals must maintain insurance or obtain a bond.
** Limitations and restrictions apply.