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Ohio Car Insurance Coverage

If you are currently looking for car insurance coverage in the state of Ohio, you have a multitude of options for Ohio car insurance providers to choose from. There are over forty Ohio car insurance providers at your disposal. These include nationwide, statewide, and local carriers, all of whom are licensed by the state. Using price comparison techniques online will allow you to choose the Ohio car insurance provider that will most adequately suit your needs from the numerous options who all wish to conduct business with you. There are many websites on the Internet that will allow a user to receive a quote on their Ohio car insurance. After doing so, you will be to do a side by side comparison on the rates from multiple providers on the policies you are interested in buying. The rates that you were quoted by your Ohio car insurance company last year may not be the lowest rates you can achieve this year.

Statistics for Ohio Car Insurance

On average, the purchase of a car insurance policy for a resident in Ohio in 2009 has averaged $1,451 . By comparison, the current national average is $1,780. Clearly, the residents of Ohio are enjoying a break on the prices that they pay for car coverage. You might be surprised at the number of residents in the state who believe that their rates are predetermined before they even apply for car coverage with a company. This isn't true. The premiums that a customer is charged are segmented according to the customer's personal characteristics and coverage needs. So far, the year of 2009 has seen a dramatic increase in the amount that motorists have to pay for their Ohio car insurance. The cost of an Ohio vehicle insurance policy in 2009 is 28% higher than it was in 2008. Such facts and figures tend to highlight the fluctuating instability of the car coverage market. An educated understanding of Ohio car insurance requirements and what your own personal needs are will the be the single most helpful aid in determining what forms and monetary amounts of car coverage you should buy.

The Ohio law requires its motorists to maintain minimum Bodily Injury Liability limits of $12,500 per injured person up to a total of $25,000 per accident, and Property Damage Liability coverage with a minimum limit of $7,500. These are commonly referred to as the 12.5/25/7.5 coverage limits for the state. Ohio follows a Tort system when it comes to dealing with car crashes. Under the rules of a Tort system, one party of an accident must be determined to be at fault in the collision. The at fault party and their provider then become legally and financially responsible for all of the medical expenses and property damage repair costs that other parties may incur from the car accident. The minute details of a Tort system vary across states. If you have any questions about the Tort system in Ohio, you can contact the Ohio Department of Insurance to learn more.

Required Forms of Ohio Auto Insurance

The only form of car coverage required in Ohio is liability. Should you select the minimum coverage amounts, and these limits do not suffice to meet all of the bills incurred in an accident, you will be held financially and legally responsible for the remainder of the balance. This can expose you to years of costly court battles as the injured parties and their coverage companies seek to recoup their financial losses. A court order can force you to liquidate your physical and financial property in order to make restitution.

An understanding of how liability coverage works is necessary to determine what your coverage needs will be. Liability coverage is divided into two sub sections: property damage liability and bodily injury liability. Bodily injury liability will assume the cost of other party's bodily injuries, or even death, in an accident in which you are responsible. What most consumers do not know is that it will also provide for the cost of legal counsel that another party will incur if they happen to file a law suit against you. The claims that another party can file under you bodily injury liability insurance includes medical expenses, loss of income, and reimbursement for pain and suffering. Ideally, you would like to choose an Ohio auto insurance coverage amount that would be adequate in providing for your needs if you should be sued. It should be noted that this form of coverage does not assist you or your passengers with any medical expenses you may incur due to the accident. The maximum monetary amount that your Ohio automobile insurance provider will provide per person, per accident is detailed in your policy. If you have purchased only the minimum required, this would be $12,500 per party's injuries, with a $25,000 being the maximum per accident.

The second part to liability insurance is property damage liability. This part of liability coverage assists you in paying for the damages another party's car may sustain in an accident. However, the definition of property damage can be extended to include a person's home, fence, mailbox, or other sorts of property damaged in the car accident. Property damage liability also provides funding for your legal defense if you should be sued by another party. The scope of your coverage is limited to the scenarios listed in your Ohio automobile insurance policy. The coverage limits, again, are limited to the maximum amounts in your policy for your car. According to the state minimums, this amount would $7,500.

Optional Forms of Ohio Vehicle Insurance

Uninsured Motorist Insurance is not required by the state of Ohio. However, it is strongly recommended by the state's Department of Insurance. Essentially, what uninsured motorist protection does is provide coverage for you and your passengers in the event that you sustain injury or property damage in an accident in which the other party has no coverage or is underinsured. UMI, like liability insurance, is subdivided into two sections: bodily injury and property damage. You, your passengers, and other drivers listed on your policy are covered under this form of protection. If the motorist at fault is underinsured, uninsured motorist coverage will pay the remaining balance between what the other motorist's policy pays for and what your bodily injury coverage will pay. If the limits specified on your purchased policy are lower than the actual cost of the accident, you will be responsible for the remainder of the balance. Because many motorists are covered by comprehensive health insurance plans, their medical expenses may not be of much concern. However, your property damage costs can surpass those of your medical expenses.

Now that you are informed as to what your minimum requirements for Ohio vehicle insurance are, you should conduct an assessment on your car or cars. This will allow you to select the coverage amounts that will efficiently protect your assets. If you have lingering questions or concerns, you can contact your local car coverage agent. He or she will be able to answer your questions and recommend solutions to your needs. The only way you can save on your car coverage is to make informed choices. Get started today.

[1] Retrieved November 6, 2009
[2] Retrieved November 6 2009


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