Ohio's Coverage Requirements for Car Insurance

In Ohio, if you own a vehicle, you must either have liability insurance or some other proof of financial responsibility, to comply with the State’s law. Many people don’t realize that it is illegal for the vehicle owner to allow another person to drive their car without proof of liability insurance or proof of financial responsibility.

What exactly is required if you purchase insurance?

Insurance is most commonly purchased to comply with this requirement. The State of Ohio sets “minimum” amounts of bodily injury liability and property damage liability. Specifically, $12,500 per person injured in any one accident and $25,000 for all persons injured in any one accident is the bodily injury liability requirement. The required minimum for property damage liability is $7500 for damage to another person’s property, usually, but not always, another vehicle. The insurance company will issue insurance cards for each vehicle insured and these should be kept in the glove box. You can also request duplicates to carry with you.

If you don’t own an automobile, but still drive, you need to be financially responsible. You can easily obtain a “named operators policy”. Most insurance companies don’t write these and the premium is based on your driving record, insurance score, where you live, how much liability limits you need, and a few other factors. We can help you with this.

Although I don’t personally know of anyone who has complied with the State of Ohio’s financial responsibility requirements by NOT buying insurance, options do exist to do exactly that. You can apply with the BMV and if acceptable, they would issue a certificate proving financial responsibility. Options include having money or government bonds in the amount of $30,000 on deposit with the Treasurer of the State, owning real estate with at least $60,000 in equity, having more than 25 vehicles registered in their, or a company name, or obtaining a $30,000 bond from an authorized surety or insurance company.

The State of Ohio sets minimum amounts of liability protection that every driver must have. Make certain you have car insurance coverage that is at least equal to your assets. The law allows victims to take your assets to satisfy a judgment against you!

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Ohio's Coverage Requirements for Car Insurance

What exactly is required if you purchase insurance?

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