Ohio Auto Insurance – Auto Insurance Requirements for Residents
Ohio requires all car owners to obtain auto insurance coverage. The easiest way to meet the state’s minimum requirements is through auto liability coverage. The minimum requirement is $12,500 for bodily injury coverage per person. If there are multiple people involved in the accident, the minimum requirement is $25,000. The minimum requirement for property damage coverage is $7,500. It is recommended that you purchase higher coverage so that you can be fully insured against the cost.
Most states in the United States have a means that will automatically know if the resident is covered by an auto insurance policy. However, Ohio does not have a system that can automatically detect that you need to be covered by an auto insurance policy. When you are required to present evidence, you must present the insurance policy or insurance identification card.
If you do not want auto insurance coverage, you must show that you have the financial ability to meet the state’s minimum requirements. There are many ways to provide proof that you are financially able to pay for car insurance. You can produce a bond of $30,000 issued by that insurance company. Your insurance agent can issue a certificate showing that you are financially capable. The BMV (Bureau of Motor Vehicles) certificate can be used as proof that you deposited $30,000 with the state treasurer. The BMV certificate can be signed by two people as ownership of real estate valued at $60,000 or more. The BMV self-insurance certificate can be used by people who have more than 26 vehicles registered in their name.
Residents who fail to provide proof of financial responsibility to law enforcement will be penalized. If you do not provide proof, a written notice will be sent to you. The written notice requires you to appear in traffic court with proof. You must also send a copy of your proof of financial responsibility to the above address. The BMV will randomly select drivers who demonstrate financial responsibility by sending a letter. The letter contains step-by-step instructions on how to comply with the request.
If you are unable to provide proof of insurance, your vehicle registration and driver’s license will be suspended. First-time offenders will be penalized with a 90-day driver’s license suspension. Repeat offenders will receive a driver’s license suspension penalty of up to 2 years.
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