A Guide to Auto Insurance in Ohio (OH)

In the state of Ohio, there is a financial responsibility (FR) law. Under this law, Ohio drivers are mandated to hold auto insurance or otherwise meet requirements set under the law in order to be held as being "financially responsible". Most driver's choose to meet the financial responsibility law by obtaining auto insurance. Those who drive in violation of the FR law face stiff penalties. Obtaining Ohio auto insurance is the best way to prevent being found guilty of violation of the law, and can be quite easy and affordable to get if you follow a few simple guidelines.

Legal Requirements

In order to make sure that you are following the FR law in Ohio, you must first understand the law and your options. Ohio Revised Code, Section 4509.101, states that no person shall operate a motor vehicle in Ohio without having proof of FR. FR is defined as having a minimum of $12,500 per person and $25,000 per accident in bodily injury coverage and $7,500 injury per accident, and so those are the absolute minimum requirements you should be looking for when your get Ohio Auto Insurance.

Financial Responsibility Options

You may choose from a few different options to meet the FR requirements. Most people choose to obtain Ohio auto insurance from a company licensed to sell insurance in Ohio. Ohio auto insurance can be purchased for minimum coverage, as specified under the law, or for additional coverage.

Other options to meet FR is a $30,000 bond from an insurance company or authorized surety, a signed proof of FR certificate from an insurance agent or a BMV issued certificate that signifies a $30,000 bond has been deposited with the Ohio Treasurer. Also, you may get a certificate of bond from the BMV for $30,000 if you have two individuals who have a minimum of $60,000 in real estate equity to sign the bond. Your final option is a self-insurance certificate from the BMV if you have more than 25 motor vehicles registered in your name.

And whilst all of those are 'leaglly viable' options, in practice you are far better off simply getting a selection of Ohio Auto Insurance Quotes and choosing the best option from amongst them.

Possible Penalties

Regardless of how you decide to gain FR, you must have it and maintain it as long as you have a vehicle registered in your name in Ohio or if you are driving any vehicle in the state of Ohio. If you fail to provide proof of FR when asked by an officer or through a random request sent by the BMV, then you face penalties under the law.

Penalties for not providing, having or maintaining FR (Financial Responsibility) in Ohio include:

- Loss of driver's license for 90 days to 2 years
- Loss of license plates and registration for all owned vehicles
- Fees for reinstatement of license and registration
- Must obtain an SR-22 or bond and hold for 3 to 5 years
- Vehicle impounded or confiscation of plates for 30 to 60 days and up to 5 years for repeat offenses

Staying Legal

The best way to prevent the loss of your driver's license, registration or vehicle is to stay legal under Ohio law and obtain FR. You must carry your proof of FR on you at all times when driving. If someone else drives your vehicle then the proof of FR should be kept in the vehicle. When a driver is stopped for a traffic violation, at a checkpoint or otherwise asked by an officer they must show proof of insurance.

Additionally, all driver's must sign a statement, under penalty of perjury, when obtaining a new driver's license or registration or renewing their driver's license that states they have met the financial responsibility law.

You do not want to be caught driving without Ohio auto insurance or other proof of financial responsibility in Ohio. It is not worth losing your license, registration or vehicle over. There are plenty of affordable Ohio auto insurance options that make it easy for any driver to hold insurance and stay legal on Ohio roadways.


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