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Ohio set to raise auto insurance minimums

A new state law will raise the minimum amount of auto insurance that drivers are required by law to carry. Insurance minimums have not been increased in the state since 1969.

Starting in December, Ohio motorists will be required to carry $25,000 per person, $50,000 for multicar accidents and $25,000 for property damage. That's at least double the current requirements.

Supporters of the legislation say it will help the victims of motor vehicle accidents caused by a driver with inadequate insurance coverage. We've discussed the dangers that uninsured and underinsured motorists pose to other drivers and the new law may address some of those issues.

Insurance industry representatives say the increase will likely affect everyone's premiums and costs differently. Insurance rates vary based on a driver's age, experience, history, type of vehicle and other factors. Only about 5 percent of Ohio's insured drivers carry the minimum level of insurance, and those who already carry more may be affected differently.

If you are involved in a motor vehicle accident, you will likely be contacted by an insurance adjuster who will determine how much the insurer will compensate you for any injuries or property damage. It is important to cooperate with your insurer and be honest about the accident but do keep in mind that their goal is to save money, not necessarily to make sure you are taken care of.

If you or someone you love have been injured in an accident it is important to work with someone who can fight for you and protect your best interests.

Source: The Columbus Dispatch, "Ohio to increase minimum amount drivers must carry," Mark Williams, Feb. 4, 2013

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