The financial responsibility law of Ohio requires all the drivers to have an assured way to pay for damages or an injury resulting from negligence of the driver and this is known as proof of financial responsibility.
The legal limits of insurance in Ohio are: • $7500 for an accident, • $25,000 for all persons in an accident, and • $12,500 for the injury or death of any person Tort system is followed by the State of Ohio, which means that someone must be found to be at fault for causing the accident, and that person and the company who has insured him/her is liable for compensating all the damages caused in the accident.
One should note that the rules of tort system may differ from one state to another.
The Ohio laws require that all the vehicles registered be covered by at least minimum level of insurance.
Although most of the states require liability insurance and total insurance amount paid by customers, remains more or less the same, the premiums in the state of Ohio are observed to be very low, in comparison to the rates in other states throughout the country.
As far as the liability coverage is concerned, it helps to pay for property damage and bodily injury expenses, during an accident.
The coverage amount required for bodily injuries in an accident for a person is $12,500.
Unlike the other states, the Ohio state auto insurance does not require motorists to carry personal injury protection coverage or uninsured motorist coverage.
Most of the residents in Ohio State choose to take liability coverage, as it is the most affordable choice.
Ohio insurance coverage does not have any electronic reporting system.
Whenever the insurance proof is requested, you have to provide it in the form of current insurance card or BMV bond certificate/BMV certificate or surety bond certificate that clearly indicates that you have deposited $30,000 with the state treasury.
Otherwise, it is enough to have a 2702 or 2083 form by your side.
Beware, in case you fail to provide insurance proof, your driving license and the vehicle registration could be suspended for a period of 3 months.