Like other states, Ohio has their own set of rules and regulations that companies and individuals must meet when it comes to auto insurance. Since car insurance is one of the most commonly purchased kinds of personal insurance, it is important to know the regulations before making your selection. For instance, Ohio requires that people comply with the state’s Financial Responsibility law which states that every Ohio driver must demonstrate an ability to pay for injuries to other people as well as damages to other people’s property if the driver causes an accident. Purchasing insurance is one way that a person can show financial responsibility under the law.

There are so many nuances when it comes to understanding Ohio auto insurance, but here are a few things that you need to know about the process and your rights as a consumer:

• You have the right to receive a copy of your policy.

• You have a right to cancel your policy at any time (however, you may receive additional fees or penalties from the insurer depending upon your agreement).

• You have a right to receive all copies of forms and applications that you or your insurance agent sign.

• You cannot be discriminated against because of your beliefs, race, national origin or physical handicap (unless it impairs your driving ability).

• You have the right to get a fair estimate of your premium even though the actual premium may be higher

Of course, as an insured in Ohio you also have some obligations as well. These include filling out the insurance application completely and accurately. You also must quickly report any accidents or other losses to your insurance company. If there are any changes such as address, vehicles or drivers, you will need to report those to the insurer as well.

Even though Ohio has the financial responsibility regulations, many drivers end up getting more coverage than the requirements. This is because having that additional coverage is important in case of a serious accident. If you don’t have enough coverage, the law allows victims to take any assets you have to cover the costs of damages that occur. If you only keep minimum coverage then you can be held legally responsible for any costs that are not covered by your insurance company including medical costs, property damage and legal costs.