Ohio Auto Insurance Guide

Ohio insurance regulations side with the majority of other states that do not demand an insurance policy for drivers, rather they require only that drivers be able to prove they can be financially responsible if they cause an accident. There are a number of ways that this can be proved in a way other than buying auto insurance in Ohio.

Ohio Insurance Regulations

Failure to meet any of the requirements or be able to prove that you have insurance coverage in Ohio carries with it penalties that can be considered light compared to other states. An officer who requests proof but is not satisfied will likely give you a warning and you will later have to provide proof to a judge in order to avoid a fine. Ohio doesn't have an automatic system as in some states where they are notified by the insurance company if your policy lapses, so the state randomly selects residents to provide proof by sending out a letter. Failure to comply will begin a suspension process which, for a first offense, can result in the suspension of your driver's license and vehicle registration for 90 days.

Mandatory Minimum Coverage in Ohio

You can establish fiscal responsibility in Ohio by doing one of the following:

• Get a bond worth at least $30,000 from an insurance carrier or some other authorized surety firm.
• Deposit at least $30,000 in cash with the State Treasurer and get a certificate from the Bureau of Motor Vehicles (BMV) indicating proof of such.
• Get a certificate from the BMV that is signed by two people who own real estate that has at least $60,000 worth of equity.
• If you have at least 26 vehicles registered in your name or company name you can get a BMV-issued certificate of self-insurance.
• Get a standard liability insurance policy with the limits listed below.

• $12,500 - Bodily injury coverage for a single person injured or killed in an accident caused by you.
• $25,000 - Bodily injury coverage for more than one person injured or killed in an accident caused by you.
• $7,500 - Property damage coverage for any damage made to property in an accident caused by you.

Motorcycle Coverage Requirements

Motorcycle coverage requirements in the state of Ohio are identical to the ones listed for driving a vehicle listed above. In order to ride in the state you must be able to provide proof of financial responsibility which is usually accomplished via purchase of an insurance policy.

Ohio State Auto Insurance Advice

Keep in mind that the insurance requirements listed are just the minimum required to comply with auto insurance laws in Ohio. You will probably want to speak with your insurance agent about the possibility of increasing your coverage in order to be better prepared to not have to suffer personal financial loss after an accident.