The state of Ohio has made auto insurance mandatory. If you do not have auto insurance, you need to have documents proving your financial responsibility. Financial responsibility laws are fairly simple. According to these laws, a motorist must be able to take financial responsibility in the event of an accident. Auto insurance proves the person has the finances needed to pay for damages. If you do not have auto insurance, you can file a bond with the state treasurer for an amount of thirty thousand dollars. This gives proof of your financial responsibility.
Auto insurance is mandatory and has to be purchased by everyone. However, auto insurance might not have to be very expensive. There are many discounts available in the market.
Compare shop. Go to many different vendors and ask for quotes. Rates very from vendor to vendor and you can choose the one best suited for you. Good and clever shopping involves choosing the policies that are strictly meant for you. Do not buy each and every policy the vendor has to offer. Choose the ones you carefully need and choose the vendor who offers it at the best rate. You can also couple policies. If you have more than one vehicle, getting an auto insurance policy with the same vendor is assured to get you a discount. You can also couple other policies with auto insurance.
You can get a health insurance policy that helps you reduce your auto insurance amount as well. Good students also get a discount. This discount also acts as an incentive for the student to keep his grades up. Your driving record can get you a discount as well. If you have had a spotless driving record for the past few years, you are considered to be a low risk driver. This ensures a discount. The time period companies check for a good driving record is usually five years.
If you are above fifty years, you are eligible to get a discount. Statistics show that drivers above fifty years are very safe drivers. Hence they are charged less. You can install a few safety measures in your cars. Safety features such as alarms etc will make your car safer and reduce the premium on your vehicle. Other features such as air bags and automatic seat belts will also reduce the premium. They make your car a much safer one and hence mean lesser premiums. If you have stayed with one insurance company for a long time, there are chances they might reward your loyalty with a discount as well.
If you are planning to move, you can move to a safer and less crowded locality to get discount on your rates. Cars in safer localities have a lesser chance of being stolen. Another method to get a discount would be to raise your deductibles. Raising your deductibles would mean lesser premiums. Physical damage policies such as collision and comprehensive coverage are the best policies to raise your deductibles on. With these discounts you can save a lot of money, and there fore pay for damages easily.