Start Comparing Rates within Minutes!
Start Comparing Rates within Minutes and you could save!
Compare Rates Within Minutes!
- Complete 1 short quote form
- Compare rates from top insurers
- Save time & money!
Ohio bill raises state auto insurance requirementsPosted On Wed, December 19, 2012
A new bill that passed through both the Ohio House and Senate floors today raises the amount of auto insurance that state drivers are required to carry, according to WBNS-TV.
Regulators raised the rates in order to decrease what they perceived to be motorist vulnerability. Due to inflation, the cost to repair vehicles has jumped in the last 40 years, but insurance requirements have not been updated leaving many motorists without adequate protection.
WBNS-TV notes that current state law requires motorists to have $7,500 worth of auto insurance on their vehicle. House Bill 278 raises that requirement to $25,000.
"A car might have been $3500 in 1969, brand new. I doubt if you could touch that same car for $25,000, $30,000 today," said House Representative Mark Okey, a key proponent of the bill.
Okey noted that the auto insurance rate increase per customer would not be dramatic, with policies potentially increasing in price by $2-3 per month.
Feedback or questions? Email the editor here.