Ohio Auto Insurance Warnings

Don’t Drop Auto Coverage To Save Money

Ohio Insurance department offers up information on minimum coverage requirements

COLUMBUS —The times are tough, and you might be tempted to reduce the amount of coverage of your auto insurance or maybe even drop your auto insurance altogether in order to save some cash. Don’t do it.

The Ohio Department of Insurance as well as Kernan Insurance of Powell, Ohio is stressing to Ohioans to carefully consider the risks of doing so before entertaining the decision not to carry auto insurance.

The bottom line is if you don’t have auto insurance, it’s against the law. Also, as an Ohio driver, if you think you can save money by buying the cheapest insurance coverage allowed, you may want to know that  while cheap coverage is less, Ohioans should know that  the cheapest auto insurance doesn’t always give you the best coverage if you get in an accident.

 Things you should know about Ohio auto insurance:

• Ohio law states that drivers who buy auto insurance must demonstrate Financial Responsibility (FR)
• Ohio drivers must have at least $12,500 of Bodily Injury or Death Liability Coverage per person ($25,000 for 2 or more persons)
• Ohio drivers must also have $7,500 of Property Damage Liability Coverage for any one accident.

However, in most cases, more often than not, accidents end up exceeding the minimum coverage limits expressed above. So it’s important to note: 

• If the driver who is at fault, insurance policy limits are exceeded, then the at-fault driver may be personally liable to pay the difference not covered by the auto insurance policy.
• If the driver didn’t have the cash to pay for the damages stemming from the car accident, they could face legal action and long-term debts.
• Even worse, if the driver’s kid was driving a car that was underinsured and was in an accident, that kid would be held responsible for any damages and could face significant debt.
• In theory, the driver and his or her family, could end up paying for the car accident for quite some time.

The Ohio Department of Insurance strongly suggests that people  talk with their Insurance agent. Powell, Ohio based insurance agency Kernan insurance can certainly help you and  discuss the risks of only getting the bare minimum levels of insurance.