In order to save money on your Ohio auto insurance quote, you need to know some essential information. You need to know what the state laws are for the minimum amount of OH auto insurance you must purchase, you have to know what coverage is necessary and what is optional, and you need to know how to save yourself money.
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The Right Coverage For A Cheap Ohio Auto Insurance Quote
First of all, you need to know the minimum amount of coverage you need to purchase. That’s easy. Ohio is a Tort state, which means that if you’re a resident and you cause an accident, the fault will be put on you and you’ll be responsible for all damages incurred in the accident.
As a resident of Ohio, you’re also responsible for showing proof of financial responsibility.
You can prove this by posting a cash bond for $30,000 or a real estate bond of $60,000. The cheapest way to do this though, is to buy the minimum amount of liability coverage on your Ohio auto insurance quote. Obviously, this is quite a bit cheaper and most residents of the state opt for this option.
The minimum amount of coverage you’re supposed to buy as an Ohio resident is 12.5/25/7.5. To some, this can be confusing to understand, but it is really quite easy. You need $12,500 per person for injuries you cause to the other party up to a limit of $25,000. You also need $7,500 for damage you cause to another’s property. It’s really that easy!
These are relatively low minimums compared to other states in the country, so it is probably wise to purchase more than what is required. Your OH auto insurance quotes may be low if you purchase these minimums, but in the event of an accident, you might be forced to pay more out of pocket expenses than you originally thought.
Optional Coverage On Your Ohio Auto Insurance Quote
- Collision Coverage: Collision coverage covers any damage to your car when you are at fault for the accident. Most standard policies will pay for damages to your car up to the fair market value of your vehicle. Collision coverage usually has a deductible associated with it that you choose. In the event of an accident, you must pay your deductible first before your insurer pays for any damages. Usually, the higher you make your deductibles, the lower your Ohio auto insurance quote will be. Make sure you can pay your deductible out of pocket before you choose to make it higher. This will prevent problems later.
- Comprehensive Coverage: Comprehensive coverage covers those little “acts of God” that can’t be helped. These “acts of God” include fire, flood, hail, hurricane, vandalism, or if your vehicle is stolen. However, not all states cover the same “acts of God.” It is important to be aware of exactly what your comprehensive coverage covers. Don’t lull yourself into a false sense of security by believing events are covered when they are not.
- Automobile Endorsements: Endorsements are those little things on your policy like auto towing insurance, auto glass insurance, rental car coverage, and emergency roadside assistance. These are completely optional and are left to your better judgment. If you tend to have notoriously bad luck with your vehicle, the towing option and emergency roadside assistance may be the perfect endorsements to buy.
Remember, all of these are optional and can ultimately raise your Ohio auto insurance quote if you choose to buy them. However, if they risks outweigh the cost, you should most definitely buy all the optional coverage you think you need. It might end up saving you money in the event of an accident.
And, saving money is the best part of finding an OH auto insurance quote! If you’re really serious about saving money, all you have to do is shop around and get multiple quotes. It doesn’t all cost the same amount of money! If you feel you’re being over charged, all you have to do is use our free tool.
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