Ohio Auto Insurance

Ohio insurance companies can use your credit history to accept applicants and set insurance rates.  They may also use your credit score to determine your risk factors however many other factors are used to determine your rates such as the age of the drivers on the policy, the car you drive, driving record, where you live and your marital status.  Your credit history will also determine how often you will be allowed to make premium payments.  The insurance company will use the insurance risk score to set your premium rates.

In Ohio, you will be required to obtain SR-22 insurance if your license has been suspended for a DUI or other violations of the financial responsibility laws such as not having the proper insurance coverage.  You will have to apply for the SR-22 coverage through your insurance agent.  Once you have paid for the coverage an SR-22 bond will be filed with the state by the insurance company for you.  Keep in mind that a license suspension which requires the SR-22 coverage will make you premiums go up and the SR-22 insurance itself is expensive.

Since Ohio is a Torte state, any individual who is found to be at fault in an accident can be sued for pain, suffering, lost wages, and medical expenses.  For this reason, insurance companies advise policy holders to buy more than the minimum liability auto insurance.  The average insurance premium in Ohio as of 2006 is approximately $536.00 and the state is ranked as the 50th most expensive for insurance premiums in the nation.

The state of Ohio requires all insurance companies to offer uninsured and underinsured motorist insurance to all their policy holders.  Uninsured and underinsured coverage provides protection against drivers who do not carry the mandatory liability auto insurance demanded by the state.  Underinsured and uninsured coverage is not mandatory in the state of Ohio but it is recommended.  If you decide to forego this option, the insurance company is required to provide a signed declaration page stating that you chose not to take the underinsured and uninsured coverage.

You or your insurance company may exclude members of your household from coverage on your insurance policy.  If the individual is not listed on your policy, the insurance company does not have to provide coverage for that person.  Any exclusion which pertains to your policies will be listed in the exclusion section of your policy along with all of the other circumstances which allow your insurance company to refuse a claim.  If your policy lapses or cancels you can be cited for driving without the required insurance so you must pay the premium to reinstate the policy.  If the policy is cancelled, then you must find a new auto insurance policy right away. 

There are 58 officially accepted insurance companies listed in Ohio.  The following is a list of the sanctioned insurance companies in Ohio:  Allstate Property and Casualty, American Fire & Casualty, AMEX, Amica Mutual, Atlantic Mutual, Bristol West Casualty California Casualty Indemnity Exchange, Cincinnati, Cincinnati Casualty, Cincinnati Equitable, Cincinnati Indemnity, Deerbrook Donegal Mutual, Erie, Farmers, Federal, Founders, Frankenmuth Mutual, GEICO General, Government Employees, Grange, Grange Indemnity, Great Northern, GuideOne America, GuideOne Elite, GuideOne Mutual, Halcyon, Harford Accident & Indemnity, Hastings Mutual, Horace Mann, Horace Mann Property & Casualty, Kansas City Fire & Marine, Lightning Rod Mutual, Mid-american Fire & Casualty, Mid-Century, Montgomery Ward, National Mutual, Northwestern Pacific Indemnity, Ohio Casualty, Progressive Casualty, PRUGEN, Royal, Sagamore, Selective of the Southwest, State Auto, State Farm Fire & Casualty, State Farm Mutual, Teachers, Travelers Casualty, Travelers Commercial, Travelers P&C, United Ohio, USAA Casualty, Vigilant, Wayne Mutual, West America, and Western Reserve Mutual Casualty.

One of the methods you can use to reduce the cost of your auto insurance premiums is to purchase more than one type of insurance policy with the same company.  You will also get discounts for a clean driving record and possibly for renewing you policy with the same company repeatedly.  Making sure you insurance never lapses will sometimes reduce your premiums as well as belonging to a particular professional group such as engineers, teachers, or doctors.  Younger drivers can get discounts for maintaining good grades, and completing a driver safety course approved by the state.  Insuring multiple vehicles will also reduce your premiums.  Anti theft devices and safety mechanisms such as airbags and seat belts will contribute to the reduction of your auto insurance premiums.  It may also be useful to know which cars are frequently targeted by thieves.  The list of the top ten most often stolen cars in the state of Ohio are listed below.

1. 1986 Oldsmobile Cutlass
2. 1993 Buick Century
3. 1994 Dodge Caravan
4. 1997 Chevrolet Cavalier
5. 1990 Buick LeSabre
6. 1993 Ford Taurus
7. 1999 Pontiac Grand Am
8. 1991 Chevrolet Blazer
9. 1991 Toyota Camry
10. 1994 Jeep Cherokee/Grand Cherokee