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Drivers will instinctively slow down when they see a police or highway patrol car. No one wants to be pulled over for a speeding ticket. Of course, being pulled over is not a great feeling, your heart is beating fast, your palms get sweaty. Still, the encounter with the law may have more severe consequences than a pricey speeding ticket—one piece of information that the police officer will request is proof of auto insurance, which drivers in Ohio are required to have.
There are only two states that do not require a driver to have car insurance (New Hampshire and Virginia); the other 48 mandate it. Sometimes people are willing to risk not having insurance to save money or haven’t gotten around to buying a policy yet. But Ohio does not pull punches with any offender, and there are steep penalties if you are caught without proof of financial responsibility.
The price of no car insurance-It can be steep
If you are caught without car insurance in Ohio, you could face hefty consequences. Ohio may suspend driving privileges and the driver may be charged significant fines. Confiscation of the vehicle’s registration and plates is not out of the question either.
Liability insurance is needed in Buckeye State. This insurance protection will pay for property damage, bodily injury and lost wages suffered by the other party and passengers in the other vehicle. The Ohio Department of Insurance requires that car insurance policies have the following coverages:
Bodily Injury Liability Coverage
Required minimum: $25,000 per person injured in an accident and $50,000 for all those who are hurt in a given accident.
Property Damage Liability Coverage
Required Minimum: $25,000 for the injury or the destruction of another person’s property in a given accident.
These figures are just the minimum. Ordinarily, actual expenses from an accident can be higher, particularly if other people are involved. Therefore, it is advisable that liability coverage be higher than that mandated by Ohio law.
Frankly, why would anyone not want to have auto coverage? Ohio is a fault accident state. A person who is at fault for causing an auto accident bears responsibility for compensating those who suffered harm.
Those who drive without insurance are placing their financial well-being at a sizable risk, and costs are often much higher than any annual premium. The inherent risks of not being covered are property, physical and emotional damage. So, you need to know the costs.
Property
Traffic accidents can be expensive. You might be faced with heavy repair bills to your vehicle, even if the accident is not your fault.
Physical
Financial? Ohio’s status as a fault accident state exposes the person at fault to physical damages that may cost a lot of money.
Emotional
A traffic accident may be a traumatic event, regardless of who is at fault, but it may take a long time to recover from the accident emotionally, if you are not covered.
What type of car insurance coverage options do I have?
Two coverage options any consumer should know when buying car insurance are how much coverage they should buy and what type. Ohio has mandated specific liability coverage minimums, but there are other automobile insurance products, and one or more may be coverages you should include. These are the most common:
Comprehensive, or Other Than Collision, Coverage
This can provide coverage in the event your vehicle is damaged by something other than a vehicle collision. It could be damage caused by striking an animal crossing the road, hail damage, or vandalism.
Uninsured/Underinsured Motorist Coverage
Just because Ohio law mandates having auto insurance does not mean everybody abides by the law. Additionally, the other driver may only have the minimum amount required, which might not be sufficient to cover all the medical expenses. Uninsured/Underinsured Motorist Coverage can help pay for expenses if you are involved in an accident with an uninsured or underinsured driver. This type of protection is not expensive and can easily be added to an existing auto insurance policy.
Collision Coverage
This coverage pays for costs to repair your car if it's involved in an accident with another vehicle or a stationary object, like a tree or guardrail.
Buying the right car insurance coverage can be tricky
Consumers can get persuaded by high-pressure marketing into buying insurance they do not need. Furthermore, the insurance might not offer adequate coverage or service.
An East Street Insurance agent is professionally qualified to help you purchase the best insurance coverage to meet your needs. An insurance agent can help educate you on coverage and help ensure you have the right coverage in place at the time of a loss. Are you a first-time car insurance buyer? Here are 10 tips that can help you purchase your first auto insurance policy.
Our East Street Insurance agents provide the best insurance buying experience, followed by industry-leading service. That is especially important for any value-conscious consumer, your East Street Insurance agent can recommend ways to save money with our many available discounts and may recommend you bundle your auto and home insurance!
Car insurance in Ohio is a must! The right amount of coverage and selecting the best insurance products will minimize your financial risk, in addition to being compliant with the law. An East Street Ohio agent who knows insurance products is a person well worth developing a solid relationship with.