Ohio’s Laws on Underinsured Motorist Coverage: What You Should Know
When it comes to car insurance in Ohio, understanding underinsured motorist (UIM) coverage is crucial for drivers. This form of insurance is designed to protect you in the event that you are involved in an accident with a driver who has insufficient insurance to cover the damages. Here’s what you need to know about Ohio’s laws regarding underinsured motorist coverage.
What is Underinsured Motorist Coverage?
Underinsured motorist coverage allows you to receive compensation when the at-fault party's insurance policy limits are inadequate to cover your medical expenses, lost wages, and other damages resulting from the accident. In Ohio, UIM coverage is not mandatory, but it is highly recommended.
Ohio's Legal Requirements
While Ohio law mandates that all drivers have a minimum amount of liability insurance, which includes bodily injury coverage of $25,000 per person and $50,000 per accident, it does not require underinsured motorist coverage. However, if you choose to purchase UIM coverage, insurers must offer it to you at the same levels as your bodily injury coverage. This means that you can select a limit as high as your liability limits or lower, but not higher.
Comparison with Uninsured Motorist Coverage
It's essential to differentiate between underinsured motorist coverage and uninsured motorist (UM) coverage. UM coverage comes into play when you are involved in an accident with a driver who does not carry any insurance. UIM coverage, on the other hand, is specific to scenarios where the other driver has insurance but not enough to cover your injuries or damages.
Filing a UIM Claim in Ohio
If you are involved in an accident with an underinsured driver, follow these steps to file a claim:
- Document the accident: Gather evidence such as photographs, police reports, and witness statements.
- Notify your insurance company: Inform them about the incident and provide all necessary documentation.
- File a UIM claim: Your insurer will assess whether the other party is underinsured and calculate the compensation you may receive.
Benefits of Underinsured Motorist Coverage
Opting for underinsured motorist coverage in Ohio offers several significant benefits:
- Financial protection: UIM coverage ensures you are not left bearing the financial burden of medical bills and damages if the at-fault driver lacks sufficient insurance.
- Peace of mind: Knowing you have additional protection can give you confidence while driving.
- Legal support: UIM coverage can help with legal fees if you decide to pursue compensation from the underinsured driver.
Conclusion
Understanding Ohio’s laws on underinsured motorist coverage is essential for every driver. While not legally required, it is a prudent choice that provides peace of mind and financial protection in the face of unexpected accidents. Whether you are reviewing your insurance policy or considering an update, make sure to include underinsured motorist coverage for comprehensive protection.