Ohio Car Insurance

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Ohio State requires you to hold insurance cover for your vehicle to protect you from costs that you may incur in case of accidents. Read this article to get more information on Ohio car insurance requirements, rates, laws and discounts.

Ohio Car Insurance Requirements

You are required to purchase liability insurance immediately after you purchase your car. This insurance cover will help you pay the cost of property damage and injuries resulting from accident that your car causes. The minimum limits of liability insurance include:

  • $25,000 for death or injuries, per person
  • $50,000 for total death or injuries for multiple people per accident
  • $25,000 for property damage per accident.

Optional Car Insurance

Liability insurance cannot cover all the costs resulting from your car accident. You need to consider purchasing other optional car insurance to provide further protection in case of accident. Most Ohio car insurance companies offer the following optional car insurances:

  • Collision – Insurance cover that helps pay for damages made to your car after an accident
  • Comprehensive – Insurance cover that pays for damages resulting from all accident related events such as fire, floods etc
  • Uninsured/underinsured
  • Towing and labor coverage.

NOTE: Ohio car insurance laws do not require you to purchase collision and comprehensive insurance. But these two insurance coverages are required if you are financing your car through a loan or lease agreement.

Ohio Proof of Insurance

When registering your car in Ohio, you are required to provide a signed statement to prove that you have purchased the required car insurance. You must provide your proof of insurance if you are involved in an accident that caused property damage worth $400 or more, or injuries whether serious or not. You are also required to provide proof of insurance when you are stopped by traffic police. If you fail to provide proof of insurance when you are stopped by traffic officer, you will be given up to 15 days to explain why you had no insurance at that time or face some penalties.

Random Insurance Verification

The Bureau of Motor Vehicles is the body that ensures that all registered vehicles are insured. This body conducts random insurance verification for all vehicles registered under them. So if your vehicle is selected, you will be required to submit the proof of insurance to this body. If you are selected, BMV will send you a notice by mail and upon receiving this notice, you will be required to submit proof of insurance within 21 days. If you have any issue on this program, you can get in touch with BMV using the hotline (877) 315-6605.

Fines and Penalties

If you fail to show proof of insurance when it is needed, you will face the following penalties:

  • Loss of driving privileges; you will be required to pay driver’s license reinstatement fees in order to get your privileges back
  • Suspension of registration and plates
  • Mandatory filling of SR-22 insurance.

Ohio Automobile Insurance Plan

The Ohio Automobile Insurance Plan (OAIP) is the body that helps high risk drivers to get car insurance. If you are one of these drivers and if you are denied for car insurance by Ohio car insurance companies, you can apply for insurance through Ohio Automobile Insurance Plan. All car insurance companies in Ohio must join this organization. This organization therefore shares the risk of providing insurance coverage to high risk drivers. Because of the risks involved, insurance coverage through OAIP attracts higher premiums.

The Ohio Department of Insurance

The Ohio Department of Insurance (ODI) is the department that is responsible for enforcing Ohio car insurance laws. This department helps resolve disputes that you may have with your car insurance company. This body also deals with issues related to car insurance frauds.

Consumer Complaints

You must first attempt to solve the dispute with your car insurance carrier before involving the ODI. While this body helps resolve your car insurance issues, this body cannot do the following:

  • Act as your lawyer
  • Give you legal advice
  • Determine medical costs and needs
  • Force your car insurance company to solve a dispute if no car insurance laws were violated.

If you intend to launch your complaint through ODI, then do it through their hotline (800) 686-1526 .

Car Insurance Fraud

Car insurance providers lose significant sums of money through car insurance frauds. These loses trickle down to affect car insurance premiums. Examples of Ohio car insurance fraud include:

  • Staging car accidents
  • Falsifying car repairs
  • Falsifying injuries
  • Increasing medical costs.

You can help fight car insurance frauds by reporting any suspected car insurance fraud to the authorities involved. Report any suspected car insurance fraud online at the ODI website.

Car Insurance Rates

Most Ohio car insurance companies use various factors when calculating your car insurance rates and premiums. Some of these factors include:

  • Your driving record
  • The make and model of your car
  • Your car insurance claim history
  • Your gender
  • Your age
  • Your marital status
  • Your credit history.

Insurance Discounts

When shopping for car insurance policies, always go for companies that offer car insurance discounts. Most car insurance providers in Ohio offer the following discounts:

  1. Good driver discounts
  2. Good student discounts
  3. Homeowner discounts
  4. Multi-car discounts.

Discounts can lower your car insurance rates, but greatest way is by keeping a good driving history.

Most Stolen Cars in Ohio

If you are driving a car that is always targeted by thieves, you are likely to pay higher insurance rates. This is the 2013 list of the most stolen cars in Ohio according to www.nicb.org

  1. Chevrolet Pickup (Full Size)
  2. Ford Pickup (Full Size)
  3. Dodge Caravan
  4. Jeep Cherokee/Grand Cherokee
  5. Chevrolet Impala
  6. Buick Century
  7. Chevrolet Pickup (Small Size)
  8. Ford Explorer and Honda Accord
  9. Oldsmobile Cutlass/Supreme/Ciera.