No matter how safe of a driver you are, you could still get into a collision at any moment on the road because of another driver. When another driver is reckless and causes an accident, you rely on their insurance to pay for your injuries and damages since they were at fault. If they don’t have adequate coverage, you’ll turn to your own insurance.
So that you know you’re following the law and are covered in the event of a crash, you should know the auto insurance requirements in Ohio. Let’s take a look at what is required in Ohio for your car insurance so that you can ensure that you’re fully covered in the event of an auto wreck.
Ohio Insurance Minimums
In order to drive in Ohio, you have to have auto insurance. If someone else wants to drive your car, they can’t unless they are insured. According to the Ohio Bureau of Motor Vehicles (BMV), these are the minimum requirements of auto insurance that you must carry in order to legally drive in our state:
- $25,000 for injury or death for one person
- $50,000 for injury or death of two or more people
- $25,000 for property damage in one accident
You also have the option of getting a $30,000 bond or posting collateral instead of purchasing an insurance policy. This bond must be approved by the BMV.
Ohio has some of the lowest car insurance premiums in the country, which means that you can likely afford to have more than the minimum coverage. This is to your benefit. While the minimum coverage is what’s required, you still should get more than the minimum because it ensures that you won’t have to pay out of pocket after a collision with another vehicle.
Since your insurance pays for bodily injuries and property damage, you’ll want more than the minimum coverage in case the medical bills and repair costs are higher than what is minimally required. Insurance is so that you can have peace of mind that even if something bad happens, you won’t be financially stressed to cover the damages that you’ll have to pay for.
If you don’t have coverage that meets the minimum, then you could face some consequences. Let’s take a look at what some of those consequences could be.
What Happens If I Don’t Meet the Requirements?
It’s illegal to drive without the minimally required auto insurance coverage in Ohio. This means that if you get pulled over or get into an accident and you don’t have proof of insurance, then you will face legal repercussions. Proof of insurance is required at traffic stops, accident scenes, and vehicle inspections, so when you don’t have proof, you could be facing steep fines and serious consequences.
According to the Ohio BMV, when you get caught driving without proof of insurance, you will:
- Lose your license until you meet the requirements for the first offense. If it’s your second time, you lose your license for a year, and for any subsequent offenses, you lose your license for three years.
- Lose your license plates and vehicle registration.
- Have reinstatement fees. First offense fees are $100, second offense fees are $300, and third and other subsequent offenses have fees of $600.
- Have a $50 fee if you fail to surrender your license, plates, or registration.
- Need high-risk insurance coverage for three to five years.
- Have a security suspension for two years and a judgement suspension indefinitely if you were involved in an accident without insurance.
- Have your car immobilized and plates confiscated if you break your suspension.
- Have the potential to incur more fees and penalties as decided by a court of law.
On top of all of these legal consequences, you will also likely have to pay for the injuries and damages that you and the other driver incurred in the accident when you don’t have insurance. This could be thousands of dollars’ worth of damages that you would have to pay out of pocket, which is unrealistic and could put you in a financial hole.
For all of these reasons, it’s important that you follow the law and have at least the minimally required auto insurance so that you’re covered in the event of an accident.
Our Lawyers at Bey & Associates Are Here for You
When you’ve been in an accident that was caused by another driver’s negligence, you could use the help of a Cincinnati car accident lawyer from our firm. We’ll represent you in your legal claim so that you can get the compensation that you deserve.
Insurance companies will often try to lowball you in their settlement offer, but you shouldn’t accept less than what you’re owed. With Bey & Associates on your side, you can feel confident that we won’t let you settle for less than you deserve. Contact our office today so that we can get started on your claim right away.