4 Types of Optional Car Insurance to Consider

4 Types of Optional Car Insurance You Should Consider

The state of Ohio only requires that drivers carry a pretty minimal amount of insurance. You might want to consider increasing your limits to ensure that you and your family are protected. Also, there are several types of optional coverages that you might want to add to your policy, depending upon your needs.

Minimum Insurance Requirements in Ohio

First, here’s a quick glance at the minimum coverages the state requires you to carry.

$25,000 in property damage coverage: this pays for damages to the other party’s vehicle when you are at fault
$25,000 in injuries or death per one person in an accident
$50,000 in injuries or death per two or more people in any one accident

In many situations, you can greatly benefit from additional coverage. Each will increase your premium a bit, so you might want to discuss your policy with your agent to determine what is right for you.

Uninsured Motorist

Uninsured Motorist (UM) coverage will pay your medical bills and those of your passengers if you are hit by a driver with no insurance. You could also possibly receive pain and suffering and lost income recompense, but for these you will likely need an auto accident attorney.

Underinsured Motorist

Similar to UM, Underinsured Motorist coverage (UI) will cover your damages if you are in an accident with a driver whose insurance does not adequately pay your medical bills or property damage after an accident. Note that this insurance does not protect you against hit and run crashes.

Gap Coverage

If you have a new or leased car, this insurance might be for you. An insurance company will appraise the property damage after an accident and only offer the current cash value, such as a Kelley Blue Book value, rather than what you paid for the vehicle. So, if you purchased your car within the past six years or you have a significant amount of time left on your lease then gap coverage often will pay you the difference between what you paid or owe and what the insurance company is offering.

Med Pay (Medical Payments)

Med pay reimburses you for your medical bills, your out-of-pocket sum. This includes your health insurance premiums and things your health insurance company usually won’t cover such as chiropractic care and dental prosthetics.