If your growing Ohio family has multiple drivers, consider a family car insurance plan. Here are some options
If you live in Ohio and have a growing family, chances are you will be faced with decisions about adding members of your family to your car insurance coverage. When you begin to consider your Ohio family car insurance coverage needs, there are a few things your should consider about your policy options.
Legal requirements
Ohio law requires that all licensed drivers be “financial responsible” enough to cover certain expenses incurred by others should they cause a car accident. The most practical way to meet this requirement is to have car insurance coverage in place. Ohio law requires licensed drivers who carry car insurance to meet their financial responsibilities have minimum coverage levels:
- Bodily injury liability coverage in the amount of $25,000 for a single person
- Bodily injury liability coverage in the amount of $50,000 for all persons per accident
- Property damage liability coverage in the amount of $25,000 for damage to another person’s car or destruction of property belonging to other people in a single accident
This is very minimal coverage. In fact, Ohio has the nation’s lowest limits for total liability coverage required of its licensed drivers. In the face of these low limits, most Ohio families opt for higher coverage levels when they purchase car insurance
At fault considerations
Ohio is an at fault state where car insurance law is concerned meaning that in the case of a car accident, one party must be determined to be at fault and thence responsible for covering the expenses to pay for damages to other parties resulting from the accident. If the levels of car insurance coverage carried by the at fault driver are too low to cover the expenses incurred y other parties, those parties can sue to be compensated.
This combination of circumstances is one reason why most Ohio families increase the levels of liability coverage they carry on a family car insurance policy and consider adding additional lines of protection, including:
- Uninsured motorist coverage – this rider, or addition to a standard policy, protects drivers from loss in case an uninsured or underinsured motorist is at fault in an accident involving you
- Collision coverage – will pay for damages to your car in an accident and may be a good idea if you have younger drivers you will be adding to your Ohio family car insurance coverage
- Comprehensive coverage – covers the cost of repairs from damage caused by falling tree limbs, hailstones, fires, vandals or other Acts of God
- Emergency roadside assistance coverage – if you don’t belong to an auto club or have this type of service as part of buying a new car, it can provide peace of mind as it covers costs associated with towing your car should it breakdown or providing minor roadside repairs or assistance
- Medical expenses and/or Personal Injury Protection (PIP) coverage – these insurance riders on your Ohio family car insurance plan are a very good idea if you have an unsatisfactory family medical insurance plan or family members who are not covered by your regular medical insurance as these insurance riders pay for medical bills and assume personal injury liability for your family and any passengers involved in an accident when there are injuries the other driver does not or cannot pay to treat.
Rates & discounts
Adding up all the car insurance coverage options you may need to adequately cover your Ohio family can be spendy. Just adding a teen driver to your existing car insurance policy in Ohio can raise your rates by as much as 75 percent according to the National Association of Insurance Commissioners (NAIC). Most car insurance companies in Ohio offer discounts families can take advantage of to lower rates while maintaining the coverage levels needed to properly protect a family. Some of the common discounts available to Ohio families looking at car insurance coverage include:
- Multiple car discounts
- Multiple lines of insurance (bundling) discounts
- Good student discounts (for teen drivers in high school or college students)
- Safe driver/ defensive driving class discounts
- Loyalty discounts for long-time customers
Some insurance companies suggest that families with numerous drivers and more complicated circumstances (i.e. college students in other states, young adult drivers who have returned to live at home, etc.) consider an umbrella policy. In short, an umbrella policy kicks in when the liability coverage levels of a policy have been exhausted. In an at fault state like Ohio, umbrella policies are popular among families.
There are two national companies selling car insurance in Ohio that feature “family-specific” policy and pricing options for car insurance coverage. Geico and Nationwide have some unique options for Ohio families looking to cover all their drivers without breaking the bank.
Car insurance coverage for Ohio families is pretty straightforward. Cover your basics, look at your family's vehicle values, determine what other coverage will serve you well and keep it all within your budget. Having an experienced agent on your side can also be a great asset and Reply! can help by connecting you to car insurance agents and companies who understand Ohio insurance law.