How Much Car Insurance Do I Need?

If you’re reading this, you’re most likely looking for Ohio auto insurance quotes, but you’re not quite sure where to start and how to make sure you have the right coverage.

Well, we’ve got you covered.

YouTube video — Watch the video above to find out how much car insurance you need to ensure you are properly protected.

Welcome to the buckeye state. Land of many cornfields, birthplace of aviation, and one of the top-ranking states for good drivers. If you’ve been searching the internet about Ohio car insurance before finding our page, you probably noticed that auto insurance is mandated in Ohio and think that the required state minimum limits are enough- but alas, they aren’t.

In our 11 years in the insurance industry, we have helped hundreds of clients answer the questions they had to determine how much car insurance they need to be properly protected in the event an accident occurred. And today, hopefully we do the same for you. We’ll also take a look into the state minimum limits and give some examples of why these are truly not enough to protect you.

What auto insurance coverages are required in Ohio?

The minimum required for insurance coverage for auto owners in the state of Ohio is:

$25,000 for injury/death of one person
$50,000 for injury/death of two or more people
$25,000 for property damage in an accident

Bodily injury:

If you cause an accident in Ohio that injures someone else, this coverage pays their medical expenses and any lost of income they may have. In Ohio, there are two limits: per person and per accident. Per person in Ohio is $25,000 and $50,000 per accident.

Property damage:

This coverage pays the claim of any accident you are involved in that causes damage to any type of property.

Other coverages available:

There are additional car insurance coverages that you can purchase, but they are not mandatory. Some of them provide extra protection on top of what the required limits are, and others provide protection that is not included in the state required limits.

Uninsured motorist- If you are involved in an accident with someone who does not carry insurance, your uninsured motorist coverage would pay the claim.
Medical payments- this coverage can help pay for you or your passenger’s medical expenses in the event of a car accident.
Collision- this coverage pays for damage to your car in the event of a collision with an object other than an animal.
Comprehensive- this coverage pays for damage to your car in the event of a fire, theft, vandalism, animal damage, weather, and more.
Towing- this coverage covers the cost of your car being towed in the event of an accident
Rental Reimbursement- this coverage reimburses you for a specific amount of money per day of car rental.

So are the minimum state limits enough?

Truthfully, no.

If you were to get in an accident, state minimum car insurance limits won’t help you very much. The state of Ohio even recommends that you have more coverage than the minimum. Insurance.ohio.gov explains that having additional coverage could protect your assets and income in the event of a serious accident. If you were to cause an accident and it surpasses an amount greater than your policy limits, you are still legally responsible to pay the amount of any damages your insurance doesn’t cover. This includes medical and repair expenses, and even legal costs. In order to pay for the damages, assets like your car or your home can be taken, or your wages can be garnished. You could spend the rest of your life paying for one accident because you were underinsured!

How much auto insurance is enough?

At Platt! Insurance, we have our own agency standards for our clients. These include $100,000 bodily injury per person, $300,000 bodily injury per accident, and $100,000 property damage. We also quote with uninsured motorist and recommended at least $10,000 for medical payments per person. So, if you are still looking for state minimum coverage, unfortunately we are not the agency for you. We do this to make sure that all our clients are properly protected in the case of an accident.

Even if you have a very limited income, shop around for insurance or contact a local independent insurance agency, like Platt, to do the shopping for you. Chances are, you will be able to find a company that can provide more than the state minimum coverage for your budget.

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