Courtesy of                    
DAVID M. COLEMAN
Insurance Agency, Inc.
 
Consumer Information
Ohio's Financial Responsibility Law

Although it's not required by law, many Ohioans believe that they are required to carry auto insurance. Actually, Ohio has a financial responsibility (FR) law. It means that proof of financial responsibility is required with respect to vehicles you won and/or drive. The newest enforcement measure, the random FR verification program, coupled with other enforcement provisions, stiffer penalties and longer suspensions, makes Ohio's law even more effective.

The state's financial responsibility law has been in effect since 1953. It applies to:

  • Owners of registered vehicles in Ohio
  • Motorists leasing vehicles from licensed dealers
  • Those applying for operator's commercial, restricted or probationary drivers licenses

There are several ways to meet the requirements of the FR law, and only one of the following is needed:

  • AUTO LIABLITY INSURANCE. If you choose to comply through insurance, your insurer will provide you an insurance ID card that indicates FR requirements have been met.
  • A SURETY BOND OF $30,000 issued by an authorized surety or insurance company.
  • A CERTIFICATE ISSUED BY THE OHIO BUREAU OF MOTOR VEHICLES (BMV) INDICATING THAT MONEY OR GOVERNMENT BONDS IN THE AMOUNT OF $30,000 IS ON DEPOSIT WITH THE TREASURER OF THE STATE.

 

David M. Coleman Insurance Agency, Inc.

190 Currie Hall Parkway
PO Box 686
Kent, OH 44240
Phone: (330) 673-0485
Toll Free: (800) 732-0851
Fax: (330) 673-3390
Map to Office: Click Here

Email: dcoleman@dmcolemaninsurance.com