Car insurance can be costly, especially these days when many people in the Cincinnati area are trying to cut down on expenses. While we all might need to carry some auto insurance, as the costs of being struck by a car far outweigh the cost of an insurance policy, we might be tempted to only carry the minimum needed and avoid extras such as uninsured/underinsured coverage.
However, is an unfortunate fact that some drivers do not carry any auto insurance at all even if they are supposed to. Or you could be in a car crash that is so serious that the damages outweigh what the at-fault driver’s insurance covers. In such situations, having uninsured/underinsured coverage can save you from having to take on these damages yourself.
What types of uninsured/underinsured motorist coverage are there?
There are four main types of uninsured/underinsured coverage you could seek. One is uninsured motorist bodily injury coverage. This type of coverage kicks in to pay for bodily injuries when an at-fault driver causes a motor vehicle accident. There is also uninsured motorist property damage coverage. This pays for auto damages if you are struck by an uninsured driver or a hit-and-run driver.
In addition, there is underinsured motorist bodily injury coverage. This will pay the costs associated with being injured in a car crash where the at-fault driver has insurance, but not enough coverage to meet all associated costs you incurred due to your injuries. Finally, there is underinsured motorist property damage. This is similar to underinsured motorist coverage, but it applies to the damage the at-fault driver caused to your vehicle.
Does Ohio law require you to carry uninsured/underinsured motorist coverage?
State laws regarding uninsured/underinsured motorist coverage vary. In Ohio, insurers can decide whether to offer policyholders uninsured motorist bodily injury coverage. However, policyholders can request uninsured motorist property damage coverage, but the coverage amount cannot exceed $7,500 with a deductible of $250.
Is uninsured/underinsured motorist coverage right for me?
Ultimately, motorists in Ohio will want to consider all aspects of uninsured/underinsured motorist coverage when deciding if it is right for them. While it is an extra expense, it can be invaluable should you be in a car accident caused by a driver whose policy does not cover all your damages or a driver who has no auto insurance at all. The damages incurred in a car crash can be incredibly hefty, so in addition to insurance coverage, car accident victims may also want to explore their other options for compensation, including whether it is possible to pursue a personal injury claim.