Do I Need to Buy Car Insurance in Ohio?
Reader’s Question:
I am really confused with auto insurance law in Ohio. I heard from a friend that it’s ok if I don’t purchase auto insurance policy because I am not required to have one. But I also heard from another friend that I need to purchase car insurance policy or else I would be punishable by law. I am from Kettering, Ohio.
Tyra
Both of your friends are correct, at some point.
To better give you a clear answer, let me first tell you what is required by Ohio State Law regarding your question.
As per Section 4509.101 of the Ohio Revised Code, anyone operating or driving a motor vehicle in Ohio must maintain proof of financial responsibility during the entire period that they have a registered vehicle in Ohio. This requirement for proof of Financial Responsibility (FR) can be met through:
- Purchasing auto insurance liability policy;
- A bond amounting to $30,000 issued by a duly licensed car insurance company or surety;
- Certificate indicating that there is a money or government bonds amounting to $30,000 on deposit with the Ohio State Treasurer. This certificate must be issued by the Ohio Bureau of Motor Vehicles (BMV);
- Certified proof of FR, which is signed by a Ohio licensed insurance agent that should be on a form set by the Ohio BMV;
- Certificate of self-insurance for a resident with 25 motor vehicles under their name. This certificate must be issued by Ohio BMV and;
- Certificate of bond that is issued by the Ohio BMV amounting to $30,000. This certificate must be signed by 2 real estate owners with $60,000 equity.
Going back to your question, what is required in your home state is to have a proof of financial responsibility to give you the legal rights to operate a vehicle in Ohio. This proof of financial responsibility is not limited to purchasing auto insurance policy alone. There are other ways in meeting the financial responsibility requirement. But in general, Ohio residents opt to purchase auto insurance coverage. If you’re looking for auto insurance rates in Kettering, Ohio you can start searching by entering your zip code now on this page.
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