The state of Ohio, like most states, requires that motorists must be financially responsible for injuries and damages that they may cause as a result of a traffic accident. It is illegal to operate a motor vehicle within state limits without either a car insurance policy meeting the state minimum requirements or another form of proof of financial responsibility (FR) approved in OH. Both types of proofs must be continuously maintained for each vehicle owned if the automobile is intended to occupy the road.

Individuals can choose between obtaining a certificate of proof of financial responsibility on a form prescribed by the Bureau of Motor Vehicles (BMV) or purchase a motor vehicle liability policy through an Ohio auto insurance company licensed and authorized to issue coverage by the state. The majority of residents choose not to obtain the certificate from the BMV due to the fact that one would need to obtain a bond or deposit $30,000 with the state treasurer. Motorists that choose to purchase an automobile liability policy must obtain coverage consisting of no less than $12,500 for bodily injury to one person, $25,000 for bodily injury to all persons in any one accident and $7,500 for the damage or destruction to the property of others.

Consider Additional Ohio Insurance Coverage

The minimum liability limits mandated by the state of Ohio are relatively low compared to the rest of the states. As a matter of fact, the bodily injury liability limits are among the lowest and property damage is the second lowest in the nation. As many are aware, the cost of living and medical care are increasing and unfortunately the auto insurance requirements in the Buckeye State have not kept up with the curve. Although many may not want to purchase more coverage than required by law, it can be very beneficial in the event that the injuries and damages caused by the policyholder exceed the amount covered by a policy.

Many industry professionals and state governments agree that if possible, motorists should obtain coverage consisting liability limits of at least $100,000 for bodily injury to one person, $300,000 for bodily injury to two or more people and $50,000 for property damage. Although this may seem like much more protection than mandated by the state, it can be worth the extra premium in the event that the insured causes a serious accident. According to the Ohio Department of Insurance, the states premiums are the thirteenth lowest in the nation; therefore, one may be able to afford these limits, if not it may be wise to opt for the most protection that can fit in one’s budget.