Is State Minimum Auto Insurance Enough?

Is State Minimum Auto Insurance Enough?

Ohio’s State Minimum Liability Insurance Requirement is $25,000.00 per person or $50,000.00 per incident. If you opt for minimum auto coverage, be aware that the insurance only protects other drivers if you are negligent.

However, if you want to protect yourself and your family you will want to familiarize yourself with two other important types of automobile insurance coverage that would be invaluable in accidents involving injuries. They are;

  • Uninsured/Underinsured (UM/UIM) Insurance – protects you and your family when injured by someone else who is uninsured or underinsured.
  • Medical Payments Coverage (medpay)- “health insurance” on your vehicle to pay for medical bills ONLY

People often think they have “full” coverage when they don’t; only a policy with these additional coverage types is truly “full” coverage. That’s because it not only complies with State minimum requirements, but protects you and your family. That’s because;

  • It gives coverage if you are not at fault and hurt by someone who either doesn’t have insurance (uninsured motorist coverage) or doesn’t have enough insurance to fully compensate you or your family for the harm done (underinsured motorist coverage).
  • It also provides additional money to pay out of pocket medical expenses as you incur them (medical payments coverage). It is important to know that when you or your family is hurt in a wreck due to the recklessness of someone else, even if that someone else has plenty of liability insurance to cover the losses, the at fault driver’s insurance company WILL NOT PAY ANY MEDICAL BILLS UNTIL YOU OR YOUR FAMILY ARE READY TO SETTLE YOUR CASE – HOWEVER, THE MEDICAL PROVIDERS WILL NOT WAIT TO BE PAID SO MEDPAY HELPS FILL THIS GAP.

While getting Under/Uninsured Insurance and Medpay Insurance are an extra expenses nobody wants, having it will be worth its weight in gold should your family be involved in an accident. Considering that 1 out of 8 drivers in Ohio are driving without insurance, it makes sense to protect yourself against being but in a financial bind, especially if you or a family member is injured.