Auto Insurance Coverages You Must Have

Things to Know About Ohio Auto Insurance

Every state in the U.S. has mandatory auto insurance laws. In some states you must carry what other states consider “optional coverages,” such as personal injury protection (PIP) and uninsured/underinsured motorist coverage (UM/UIM). While in others, there are several legal alternatives to carrying auto insurance. Ohio is one of these states.

In the state of Ohio, financial responsibility (FR) is the law. All Ohio drivers must carry minimum liability auto insurance in the amount of $12,500 bodily injury per person, $25,000 bodily injury for two or more people, and 7,500 for property damage (12.5/25/7.5). If you choose not to carry insurance, you must obtain a surety bond of $30,000 issued by any authorized surety company, a BMV bond secured by real estate equity of at least $60,000, or a BMV certificate for money or government bonds in the amount of $30,000 on deposit with the State Treasurer.

Because the state of Ohio follows a tort system, the Ohio Department of Insurance and most insurance companies suggest carrying higher coverages than the bare minimum. A tort system works like this: if you are involved in an accident, someone must be found to be the cause or fault of the accident. The person deemed at fault is responsible for all damages resulting from the accident. Damages are handled through the at-fault person’s insurance company. If you do not have auto insurance coverage, you will have to pay the difference out of pocket. To be on the safe side, insurance companies suggest carrying at least $100,000 for bodily injury and $300,000 per accident.

Ohio has the 7th largest number of drivers on the road in the U.S. This means the state is home to roughly 7,656,362 drivers. Of these drivers, a whopping 16 percent do not have insurance. As a result, many Ohio drivers also carry uninsured/underinsured motorist coverage (UM/UIM). The suggested minimum amount of UM/UIM coverage is $50,000.

If you get caught driving without insurance or proof of financial responsibility, you will lose your license for 90 days for a first offense. Second offenses carry a penalty of one year license suspension. Multiple offenders will lose their license plates and registration indefinitely. In addition to license suspension for a first offense, you will have to pay a reinstatement fee of anywhere from $75-$500. You will have to purchase a form of high-risk auto insurance called “special FR coverage” for 3-5 years and your vehicle may be impounded or sold. The same penalties apply for allowing your auto insurance to lapse.

To purchase Ohio auto insurance, all you have to do is call several auto insurance agents to shop and compare. You can also compare rates online by requesting an online quote either directly through top insurance companies or an online quoting service. If you want to save on auto insurance without skimping on coverage, ask about discounts. You might be surprised. Insurance companies offer safety feature discounts, safe driver discounts, multi-policy discounts, 55 and retired discounts, discounts for good grades, and even discounts for being a non-smoker.

Getting the Best Auto Insurance Coverage

Anyone who has had a problem with their insurance company can easily tell you how you should always try to get good coverage. Furthermore, they’ll tell you to work with a reputable insurance company rather than just go for the best price in terms of rates. So, getting the best auto ins coverage is more important than getting the lowest rates.

Today, you don’t have to compromise. Some companies may take advantage of your need for coverage and your inability to pay higher rates. Others however are simply honest insurance companies that are there to provide good service without high costs.

Although this may be raising a few eyebrows, this is quite possible. It not only is possible, it’s 100% probable. Certainly, you must know that auto insurance is always different for everyone. In fact, automobile insurance really is a tailor-made product or service for each unique individual. The coverage and the rates are as unique as individuals are.

Why? One reason is that we all drive different vehicles. Another reason is that we all have different levels of driving experience. Another reason is that we are not all the same age. All fees and many many more are determining factors of insurance rates. Here are some other determining factors: the cities that we live in, the areas within the cities that we live, our professions, the way in which the vehicle will be used and our genders, to name a few more.

As you can see, the list goes on and on. And the fact remains that anyone can get the best coverage if they’re willing to pay a lot of money for it. This is especially true of high-risk category drivers who pay exorbitant amounts of money for even minimal insurance. The smart consumer knows that they can get excellent coverage, while still being able to benefit from reduced insurance rates, regardless of their driving record and all other insurance rate determining factors.

So how does one go about doing so? You can try using a broker, just as you could try calling insurance companies directly. The fact is, you may not get the best results. However, using the online method will get you good results and fast. There is no other method as quick as the Internet, and this is especially true when it comes to comparison shopping. The fact is you don’t have to pick up the phone and speak to anyone or leave your home. Just click your mouse and enter your information. The quotations will come up after a few moments, proving that you can get better deals and good coverage at the same time.

The Importance of Temporary Auto Insurance Coverage

Many people tend to think that if they are not going to have their vehicle for long, either because they are selling it or giving it to someone, that they do not have to have temporary auto insurance coverage. The thought is that they can save money, especially when money is tight enough as it is. But if that car will ever leave your driveway, it must have the proper insurance or you could face many penalties.

If you have an emergency and have to use the vehicle for something, even if it is rush to the hospital, you are at risk for legal problems. The last thing you want to happen is to end up in an accident, no matter who is at fault. Also, if you are trying to sell your vehicle then you will have to assume that people will want to test drive it. It is only natural that they will want to make sure that they are getting a good vehicle for their money. Because of this, you have to make sure that you have a legal temporary auto insurance policy.

Even though it may seem like it is extra money that you are throwing down the drain, having temporary coverage is the smart and responsible thing to do. You want to make sure that you are covered, just in case, something bad happens. When driving without temporary auto insurance coverage you could get a hefty ticket, receive points on your driver’s license, have your license taken away from you, pay a large fine and possibly spend some time in jail. None of those things are things that you want to deal with, simply because you did not get the temporary policy like you were supposed to.

If you are tight on money, you still need the coverage, but you can do your best to make sure that you are getting the best deal possible. There are many car insurance companies out there that understand that you do not want to spend a fortune on temporary coverage, even if you had the money to spend. They will work with you to make sure that you are getting the best coverage possible at an affordable rate. You can always do a little comparison shopping as well. Compare the prices of a few different companies to make sure that you are getting the absolute best deal possible.

As long as you are getting temporary auto insurance coverage that is at least the legal minimum, you will be fine. Time will pass quickly and you will find that the point will come where you no longer need this coverage and you can begin to put that money to other expenses. In addition, if you ever find yourself in a situation again where you are holding onto a vehicle for a certain period of time, make sure that you are legal. You will always end up regretting it if you do not.

The 5 Types of Auto Insurance Coverage

An auto insurance Kia Sportage Personal Contract Hire policy includes as many as six types of insurance coverage which ensure that each and every driver has what he needs. The protection is very broad covering a plethora of common events for which you can file a claim if such a situation arises. The different types of coverage are all optional in nature and your premium will increase if you add it to your main policy. The right type of coverage, however, is very important as it can save you from a lot of financial loss. Moreover, a person will not be under such huge stress in those situations. Let us take a look at the 5 major types of auto insurance Kia Sportage Used Cars coverage.

1) Liability Coverage

It will not cover any expenses that may arise due to damage to your property but it will pay for those things suffered by the other party in an accident. However, it needs to be proved that you were at fault in the accident. There should be a minimum of liability coverage otherwise you will not be allowed to legally drive a vehicle in any state in the US. The coverage is only effective when you are driving your own car or your friend’s car but with his permission.

2) Collision Coverage

Collision coverage will cover all expenses related to the repair of the car in case of a covered accident but if the repairing cost is much more than the value of the car then you will get back only the value of the car. However, it is always suggested that you do not buy these coverages if you have an old car.

3) Comprehensive Coverage

As the name suggests a comprehensive coverage will cover all types of losses that one may incur but nothing that emanates out of an auto accident. The damage to your car must be due to something else but definitely not another vehicle. It can be fire, flood, earthquake, hail storms or hurricanes. The coverage is also applied when your car gets stolen or if you hit an animal. Many people buy this coverage in addition to existing coverage.

4) Personal Injury Protection

Everyone should buy this coverage for their own good. The cost from an accident may increase in no time and this is where a Personal Injury Protection becomes helpful. The medical bill of all the passengers including yours will be fully covered. However, this type of coverage is not offered in all states in the US.

5) Underinsured Driver Coverage

If you are involved in an accident and your driver has the minimum amount of liability coverage but not any other coverage to take of all the losses then this coverage will cover all kinds of medical bills, the wages that have been lost and damage to the property. In some states, the cost of a rental car is also covered but only till your own vehicle is fully repaired.

Buy Auto Insurance Because You Need It

Ever think about why you buy auto insurance? Automobile coverage protects you from any financial liabilities once you get into a car accident. Car insurance is now mandated by law and you are not allowed to drive unless you have coverage. You can be fined, sued or even sent to jail if you get into an accident or you get pulled over without of any form of car insurance coverage. No matter if it is inexpensive or not it doesn’t make a difference. You must have auto insurance. It guarantees you and your guests are protected.

There are basically hundreds of insurance companies that offer you automobile insurance. You want see what they provide and what works for your needs. Make sure that you get the correct coverage for your vehicle as there is such some thing as being over insured or having too little protection. Make sure that you are getting protection which suits your budget as well! Given that a lot of policies are paid on a month-to-month basis, you need to make sure that this is something you can manage and pay regularly.

When you get into an accident and you are at fault, you must file a claim with your insurer. Your insurer pays the damages to those involved in the accident including yourself and any medical expenses if needed. If you do not have insurance protection you will be responsible for all these bills on your own.

Imagine obtaining into an accident and leading to a four car pile up. With 4 to ten individuals sent to the hospital with varying levels of injuries you will end up paying for the damage to the automobiles, hospital bills plus the fine for not having coverage. This can set you back hundreds to thousands of dollars. This can also result in losing everything you have.

When you are not at fault in an accident and you still do not have car insurance, the insurance company of the driver at fault is also not expected to pay you for any harm to you or damage to your vehicle. So you see, automobile insurance is not a laughing matter and is one of the most crucial insurance coverages you could ever get.

Steps to Obtaining the Best Possible Auto Insurance

Nowadays, vehicle owners are legally obliged to have auto insurance for their vehicles. Consider this purchase a long term investment that you will certainly benefit from at some point. Most of the time, the terms and conditions of these policies are somewhat difficult for a layman to understand. This can lead you to overpaying for your policy, which obviously you do not want. So, before you find yourself struggling with high priced policies, it is important for you to understand what they say.

First of all, before you start looking for a general auto insurance policy, you must have some basic knowledge regarding the different types of coverage that may be included in the package. You might want to get the type of coverage that guarantees a payment in case the car gets damaged in an accident. Also, you might want to protect your car from damage caused by other factors, like fire or damage from a break-in – and cover the stolen items. And don’t forget to compare the market!

Never purchase auto insurance without comparing quotes from a variety of insurance companies. Premium rates vary from company to company, and different companies specialize in different areas: for instance, one company may have quotes for high-risk drivers while another company may specialize in low-risk drivers. Obviously, the latter will have lower rates than the former but you can only find this out by comparing quotes from the two companies. Compare 5-6 companies if you can.

Be sure that your credit history is clean. A lot of people do not consider this when shopping for auto insurance. If you want the best possible rates, you must establish a good credit history because this is one factor that the insurance companies consider critical. The higher the credit rating, the better the insurance premiums will be. However, nothing can offset a bad-driving record. If you have a history of accidents and speeding tickets, prepare to pay a lot for high-risk auto insurance.

You should know that your choice of insurance company should not be based solely on the premium charges. Once you have short-listed a few companies, you must research them thoroughly. The internet is a valuable tool for researching. Make sure you check the company ratings on insurance websites. Also, read a couple of customer reviews and note down the negative points they mention. They may be minor or very serious – such as mishandling or not honouring claims. Again, compare.

Lastly, do not forget to check the company on the BBB website (Better Business Bureau). Naturally, you might not be able to find a company that does not have any negative feedback at all as there are always a few dissatisfied customers everywhere. Just make sure there aren’t too many complaints made by customers, or that they are too serious. If you find that is the case, you should keep looking for another company. Compare all your choices. You cannot overestimate a company’s reputation.