Even with the legally required auto insurance coverage, an accident can cost you an unbelievable amount of money. This is where full-coverage car insurance steps in to protect you and your wallet.

But what is considered full-coverage insurance in Ohio? How do you know if you’re truly covered when you’re on the road in the Buckeye State? Below, we explore the true definition of full-coverage auto insurance and how you can make sure your financials are not at risk in the event of a crash.

Read on to learn more, or contact our team to discuss your Ohio auto insurance options.

What Does ‘Full-Coverage Insurance’ Mean in Ohio?

When you’re shopping for car insurance, you will probably see the term “full-coverage insurance” mentioned quite a bit. But that phrase is a description of a combination of auto insurance policies — not a type of policy by itself. 

Because there is no such thing as a full-coverage auto insurance policy in Ohio, when you hear the term, you should assume it means insurance that exceeds Ohio’s legally required auto insurance coverage minimums.

But being just a little better than the bare minimum doesn’t really mean you’re fully covered. That’s why it’s helpful to work with an experienced independent insurance agent who can walk you through the available types of auto insurance and assess your situation to help you understand what “full-coverage” means for you.

Ohio’s Minimum Auto Insurance Coverage Requirements

To understand what is considered full-coverage insurance in Ohio, you need to start by understanding our state’s minimum auto insurance requirements. They are as follows:

• A policy that covers $25,000 for the injury or death of one person in a crash, and $50,000 for two people

• A policy that covers $25,000 in property damage that results from an auto accident

Many people are tempted to purchase only these minimum coverages so they can save on their monthly expenses. While that temptation is certainly understandable, there may be a lot at risk if you get into an accident.

The Full-Coverage Insurance Combo 

What is considered full-coverage auto insurance in Ohio may be different from person to person, but to be fully covered, you should consider all of the following types of auto insurance policies.

Comprehensive

While the legally required insurance in Ohio covers outcomes that arise from car accidents, comprehensive auto insurance covers your car in the event of damage that results from something other than a crash. For example, auto theft, fires, extreme weather events and water damage may all be covered under a comprehensive insurance policy.

Collision

Collision insurance covers damage to your car in the event of an accident. After a crash that damages your vehicle, you pay your deductible, and the insurance company pays the rest of the cost to make the repairs. 

Rental insurance coverage, which covers the cost of a rental car while your car is being repaired, is often part of a collision insurance policy.

Liability

Unfortunately, lawsuits are common after car accidents — especially after accidents that cause physical injuries. And if you’re at fault for a crash, you may be sued for hundreds of thousands of dollars, depending on the severity of the injuries. But if you have a strong liability insurance policy, you are in a much better position.

That’s because liability coverage protects you in the event that you injure someone or damage someone’s property in an accident. If you are sued, your insurer should generally cover you up to the limits of your policy.

Uninsured and Underinsured Motorist

You can have the best auto insurance in Ohio, but if someone who doesn’t have car insurance crashes into you, you may be on the hook for much of the financial damage done. This is exactly the type of situation that uninsured and underinsured motorist insurance was created for.

With this type of coverage, if someone who is uninsured or who has inadequate insurance crashes into you, you can draw from your own policy to cover the damage. These policies often come with relatively basic insurance policies, but it’s important to ensure that you have it.

Medical Payments

Medical bills can stack up quickly — so quickly, in fact, that they cause countless families to file for bankruptcy every year. Because car accidents are one of the leading causes of injury in the United States, you have to have some kind of reassurance that you aren’t risking bankruptcy every time you drive.

Auto insurance that covers medical payments provides that kind of reassurance. With this type of coverage, you know you won’t have to spend your life’s savings on hospital bills after an accident.

Full-Coverage Auto Insurance in Ohio: Worth the Cost

In Ohio, full-coverage auto insurance can mean a lot of different things. But after learning about the various types of insurance that make auto insurance “full-coverage,” what most people think it means is “expensive.”

While it is true that purchasing auto insurance that exceeds the legally required minimums is more expensive, a quick analysis of the benefits of full (or fuller) coverage shows that it’s worth the cost and can actually save you a lifetime of financial stress.

For example, the required insurance minimums in Ohio provide $25,000 of liability protection for a single person, but consider the costs of a hospital stay, lost wages and emotional trauma, which someone might sue you for after an accident where you’re at fault. If the accident is serious, this person could conceivably sue you for more than $100,000.

That is just one example, and it fails to cover the dozens of smaller issues that full-coverage insurance can pay for — the ones that, over decades of driving, can add up to cost an unbelievable amount of money. The modest increase in the monthly premium for full-coverage auto insurance can make up for itself many times over.

Want Affordable Full-Coverage Insurance in Ohio? Call Wallace & Turner

If you’re not fully covered, that means you’re partially exposed to financial and legal risks every single time you drive your car. Full-coverage auto insurance in Ohio can prevent those kinds of problems, but finding the right combination of auto policies can present a problem in and of itself: how do you know you’re getting the right policies, the best prices and the broadest coverage?

By working with Wallace & Turner. Our experienced auto insurance team helps Urbana and Springfield, Ohio, residents find the right policies to meet their coverage needs and budgets. We even offer discounts for multiple cars, safety devices and other factors to make full-coverage insurance as affordable as possible.

Interested in working with the Ohio independent insurance team that has been in this business for more than 150 years? Give us a call at 937-324-8492 or contact Wallace & Turner online today.