Ohio Auto Insurance
Ohio is an interesting state in that it does not require all drivers to possess auto insurance in the traditional sense. Instead, drivers may choose to file for a “proof of financial responsibility” form. This form is proof that you have money on deposit to cover any potential liability from a car accident. The cost to do this is usually $30,000, which is deposited with the state treasurer to be used in the event of an accident.
Of course, most people don’t have $30,000 lying around, so the majority of Ohio residents have to carry traditional coverage to comply with the law. When traditional coverage is chosen drivers must make sure that their coverage meets certain minimum requirements. These requirements include at least $12,500/ $25,000 in bodily injury liability and a minimum of $7,500 in property damage coverage. Ohio auto insurance requirements are some of the lowest in the country and while these may work for individuals on very tight budgets, most people will want to opt for more coverage so that they are adequately protected in the event of a car accident. Remember if you opt for these standards, you are opting for the bare minimum of coverage which is almost the equivalent of paying for useless insurance, since it won’t help much when you really need it to.
Average Cost of Car Insurance in Ohio
As of January of 2011, the average cost of auto insurance for Ohio residents is $999 a year making Ohio the 3rd cheapest state for auto insurance. Only Vermont and Maine have lower average car insurance costs. Just because rates are low, however, is no reason to get lax about comparing auto insurance quotes. Auto insurance rates change frequently and vary from one provider to another depending on your risk level. Many good drivers in Ohio pay significantly less than $999 a year for car insurance while high risk drivers can pay much more. You need to shop around and compare auto insurance quotes from many providers in order to find the best rates for your unique profile.
Stolen Cars in Ohio
One problem that many Ohio drivers experience is having to worry about whether their vehicle will be stolen and/or vandalized. Unfortunately, this happens all too often in the state. Though it is more prevalent in some counties and areas than others, it can and does happen anywhere. Not only can your auto insurance rates go up if your vehicle is the target of reported attempted theft or vandalism, but it can go up just for owning a vehicle that is more likely to be stolen. Certain automobiles, such as luxury cars, sports cars, and sport utility vehicles have a higher value and are thus stolen more often. As such, owners of these vehicles generally pay higher auto insurance rates due to the increased risk of a policyholder filing a claim. Some of the most frequently stolen cars in the state of Ohio include:
- Dodge Caravan
- Oldsmobile Cutlass
- Jeep Cherokee and Grand Cherokee
- Ford Taurus
- Chevrolet Cavalier
- Honda Civic
Who has the best Auto Insurance Rates in Ohio?
Direct auto insurance is the best way to find the most affordable auto insurance rates. When you speak to auto insurance companies direct you can often take advantage of the highest discounts and best rates since you bypass the need to pay a broker commission. Most drivers opt for an auto insurance comparison online and request quotes direct from auto insurance providers.
Get started with your Ohio auto insurance comparison search today and Compare Auto Insurance Quotes online!
