Getting a car insurance policy is definitely a must when driving around Ohio. To make things easier, there are plenty of places where you can get Ohio car insurance quotes. For example, just look up.
So getting an instant online quote can be a great way to save money on your policy. Yet, there may be some aspects of Ohio’s auto insurance system that you’d like to learn more about. For that reason, we have provided an extensive resource that touches on many of the main issues related to auto insurance in the state.
Minimum Auto Insurance Requirements In Ohio
In the state of Ohio, there is a minimum requirement for car insurance. In Insurance terms, it is known as 12.5/25/7.5 coverage. Or put more plainly the Ohio Bureau of Motor Vehicles says, “The law requires financial responsibility in the minimum amount of $12,500 for bodily injury to or death of one (1) individual in any one (1) accident, $25,000 for bodily injury to or death of two (2) or more individuals in any one (1) accident, and $7,500 for injury to the property of others in any one (1) accident.”
Alternatively, you may also be able to get coverage through a Surety Bond in the amount of $32,500 – obtained from a licensed insurance agency or BMV Certificate for money or government bonds in the amount of $30,000 on deposit with the Ohio Treasurer.
Keep in mind that these are minimums only! You should get more coverage to fully protect yourself. Moreover, you should also consider additional forms of auto insurance such as Medical Payments (MedPay), uninsured/underinsured motorist coverage (UM/UIM), collision coverage, comprehensive coverage and others. A good place to start learning about these options is the Ohio Consumer Guide to Automobile Insurance.
Ohio State Auto Insurance Laws
The most important thing to know about auto insurance in Ohio is that it is largely governed by Section 4509.101 of the Ohio Revised Code (Operating of motor vehicle without proof of financial responsibility). It sets out the minimum liability insurance requirements (SR-22) and alternatives as they are listed above.
It also sets out the penalties for failing to follow the law these can include:
- Suspension of driver’s license for 90 days (up to one year for repeat offenders)
- Impoundment of your license plates and/or your automobile
- Court costs
- No driving privileges during suspension
To get your license and tags back, you will:
- Pay a reinstatement fee of $75 (up to $500 for repeat offenders)
- Prove that you have become financially responsible through insurance or bond
- Have your agent or company file a proof of financial responsibility form (SR-22) with the BMV
- Pay an impound fee to get your car back
Finally, you should be aware that like most states Ohio is an ‘at-fault’ state operating under the tort law system. This means those who are found to have caused an accident will be held financially responsible for it. They or their insurance company will have to pay for the proportionate costs that result from the accident.
Remember, if the accident costs more than your insurance coverage, you’re on the hook for the rest. You can learn all the laws, rules and regulations from the Bureau of Motor Vehicles’ Insurance Requirements and Financial Responsibility page.
Ohio Car Insurance Companies
There are currently 235 companies in Ohio authorized to collect auto insurance premiums. The Ohio Department of Insurance has a complete list of all Insurance companies authorized to transact business in the State of Ohio on their website. You can even easily find out which are the largest and which are the smallest by looking at the Ohio Market Share For The Top 80 Private Passenger Automobile Insurance Groups For 2010.
You can also find out about a given company’s financial health from the Department of Insurance’s Annual Financial Data Inquiry form. Now all of this may seem a little overwhelming. Your first option is to get Ohio car insurance quotes from the top or bottom of this page and select from the top rated list of companies presented.
Alternatively you can check out the websites of the following 30 auto insurance companies who are also members of the Insurance Information Institute.
Kemper Corporation (formerly Unitrin)
Finally, if you ever have a problem with your insurance company you can always file a complaint with the Department of Insurance’s Complaint Center.
Average Ohio Auto Insurance Rates
Ohio is on the lower end of the spectrum, in terms of rates paid for auto insurance in the United States. Figuring out average premium rates can be a bit tricky, but two of the main sources for information agree; insurance in Ohio is cheaper than most other states.
In 2007, the Insurance Information Institute found that average annual premiums were $628, well below the national average of $795. In terms of online car insurance quotes, CarInsurance.com claims the average quoted rate (not actual policy sold) is $997 per year in 2011, compared to $1,436 nationwide.
Of course none of this really matters because you want to make sure you get the best rate you can. The Ohio Department of Insurance does offer sample auto insurance premium comparisons where you can see what different insurance companies in Ohio might charge you. The alternative is just to use our free quote service and see instantly what you’ll get charged from different companies.
Ohio Car, Driving And Accident Statistics
Buckeyes like to drive. This is best demonstrated by that fact that the Ohio BMV says that there are 8.8 million licensed drivers in the state, but over 12 million vehicles registered. That’s almost 1.5 vehicles per person! Most drivers are good drivers, but there were over 30,000 12-point suspension letters sent out, and over 800,000 administrative and court mandated driver license suspensions processed by the BMV in 2010.
Thus while that sounds bad, overall Ohio is a bit safer than the average state. In 2009, the state recorded 1,021 traffic fatalities as reported by the National Highway Traffic Safety Administration. This is still far too many, but the fatality rate at 0.92 per 100 million miles driven compared to the national average of 1.14, means Ohio is doing better. This means on average, you can drive over 100 million miles on the road before you’re likely to get in a fatal car accident.
Finally, the state also keeps detailed Crash and Accident statistics for the state as a whole, which you can read at the Ohio Department of Public Safety’s Crash Statistics website. Just remember do your best to avoid accidents and your rates should stay low.
Why You Should Get Ohio Car Insurance Quotes
For instant Ohio car insurance, use the Internet to get all the latest rates from auto insurers. It would be best if you use a company that is already trusted in providing Ohio car insurance quotes. Keep in mind that not all companies are offering the same rates for your insurance policy, so browsing is a must.
Don’t get fooled by all the promises that insurers offer. Do your homework and check everything they say. Not every company can be the cheapest or offer the best service.
If you want to get a quote for car insurance without any hassles, there are online insurance agencies that are willing to help you out. These companies are designed to make things easier for you by being the ones to search for policies and plans that fit your needs. Shopping for Ohio auto insurance online, is a sure way of getting only the best results for your policy needs. It provides you with the means of comparing prices easily.
For those who find themselves on a tight budget, low priced car insurance is also available. You can find auto insurance policies at a price that you can easily afford, so you won’t have to worry about not being covered. Have the peace of mind, not only for yourself but for every member of your family, with a proper Ohio insurance policy.
Getting an Ohio car insurance quote today, is the first step in finding the best insurance company for your much needed protection on the road. Learn more about these companies, by using our free quote form below. Chances are, you will be able to find a great car insurance policy for you and the entire family, in no time at all.
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