Know The Insurance Laws In Ohio Before You Relocate   by Jeffrey Merver

in Insurance    (submitted 2011-06-15)

If you are in the process of relocating to Akron, Ohio, you must do your research to understand the state's financial responsibility laws. Every state in the nation has different insurance requirements. Because of this, when you are moving out-of-state you cannot simply change your address and expect insurance to extend to your new state of residence. Understand the state mandated requirements in Ohio and quote Akron auto insurance premiums so you know what to expect before you call Ohio your home.

Bodily Injury Limits

Drivers licensed in the state of Ohio are required to carry proof of liability insurance with them at all times. Liability insurance consists of both Bodily Injury and Property Damage coverage. Bodily Injury insurance is designed to pay for injuries you cause to a third party if you are deemed at-fault for an accident. Drivers in Akron, Ohio must carry no less than $12,500 per person and $25,000 per accident in Bodily Injury. The only exception to the rule is when a driver posts an authorized surety bond in the amount of $30,000 or more or a bond secured by real estate equity of $60,000 or more. Choosing to cover yourself with a bond secured by real estate equity could leave you at-risk if you experience a loss resulting in serious injuries.

Property Damage

Property Damage liability insurance will pay for damages caused to a third-party vehicle. It is important to understand that Property Damage does not provide coverage for damages caused to your vehicle. Drivers must carry at least $7500 in PD coverage. If you want to protect your vehicle, you will need to build an Akron auto insurance policy that includes comprehensive and collision insurance.

When to Transfer Your Insurance

In the state of Ohio, new residents are required to transfer their driver license and vehicle registration within 10 days of becoming a permanent resident. If you fail to transfer your license and registration, you may receive tickets. Schedule an appointment with the Akron DMV online to make transferring your license and registration easier. When you arrive for your appointment have your license, registration, and auto insurance handy. If you have everything the DMV needs, you could be in and out of the office in as little as 10 minutes. Contact the Department of Motor Vehicles to see if you are required to provide a certificate of smog based on the age of your vehicle.

When you obtain quotes for Akron auto insurance, make sure to price optional coverages such as Uninsured Motorist, Medical Payments and Physical Damage. Once you build a comprehensive policy, schedule your appointment to obtain your new license plates and driver license. After you complete your transaction, you can say you are a resident of Ohio.

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