Much has changed in the intervening four decades, but not — despite numerous legislative attempts — Ohio’s liability minimums. No wonder the state has next to the lowest minimums in the nation.
Since Jan. 1, 1970, when the current levels went into effect, Ohio drivers have been required to carry a minimum of $12,500 liability coverage for bodily injury to one person and $25,000 for all persons injured an auto accident. It also requires $7,500 coverage for property damage.
Only Florida has lower minimums for bodily injury, at $10,000 and $20,000. Four states require $5,000 for property damage.
So if a driver with minimum coverage causes an accident that totals two cars, the victims can look forward to getting $3,750 to replace their vehicles.
In 1970, they could have gotten a nice, new car. Today, well, they could get a very nice new bicycle.
Defenders say the low minimums keep the state’s auto insurance premiums low and that higher minimums would cause more drivers to illegally drop their insurance.
But critics, including the sponsors of a current bill pending in the Ohio legislature, say the minimums are so low they don’t cover the true cost of accidents, and drive up costs to those who buy coverage for under-insured motorists.
House Bill 23, introduced last year by state Rep. Gerald Stebelton, R-Lancaster, would double the minimums.
“It’s been 41 years since we modified those limits,” Stebelton said, “and it’s just time that they should be increased.”
Drivers with minimum coverage also run a risk of getting sued by injured parties.
“If they get into an accident with just the minimums, and it’s a bad one and they’re at fault, they very well could be paying for that accident for the rest of their lives,” said Jarett Dunbar, spokesman for the Ohio Department of Insurance.
Contact this reporter at (937) 225-2393 or kmccall@DaytonDailyNews.com.
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