STATE MINIMUM AUTO INSURANCE LIMITS TO INCREASE IN DECEMBER

Late last year, victory was finally achieved when the Ohio General Assembly and Governor Kasich approved House Bill 278, which increases Ohio’s financial responsibility limits to $25,000 per person / $50,000 per accident for bodily injury and $25,000 per accident for property damage. The higher limits will take effect on all policies issued or renewed on or after Dec. 22, 2013. The current limits of 12.5/25/7.5 have not been changed since 1969. We wanted to forewarn some of our customers that their policies will be increasing as they renew.
Additionally, the bill creates a financial responsibility task force to study financial responsibility in Ohio with a focus on the issue of uninsured motorists. The task force will be composed of 12 members, one of which will be an auto insurance agent. The Professional Insurance Agents Association is working to have one of our members appointed to this task force.
If you have additional questions regarding these changes, please feel free to contact our office.