Announced earlier this year by the Ohio Department of #Insurance new state minimum limits of liability will be implemented on December 22, 2013.
"By December 22, 2013, new law raises the minimum limits to $25,000 per person injured in any one accident with a $50,000.00 maximum for all persons injured in any one accident. The minimum Property Damage Coverage will be $25,000 for property of others.
"The law requires companies to begin issuing policies with these new limits for new and renewal business no later than December 22, 2013.
Why should I get more coverage than the minimum?
The value of your assets (what you may have to lose in the event you cause an accident) may help you determine the amount of #coverage you should carry. Having additional coverage could protect you and your assets in the event of a serious accident. If you do not have adequate coverage, the law allows the victim to take any assets that you may have in order to cover the costs of any damages that occur."
Current limits in Ohio are $12,500 per person and $25,000 with property damage at $7,500.
For more information on this and other laws in Ohio, please visit www.insurance.ohio.gov