Purchasing an auto insurance policy often has age restrictions. In most states, you must be 18 years or older to buy a policy, since that's the age of majority in most states. The age of majority is the age at which you can legally enter into contracts. While state law requires drivers to have financial responsibility, an estimated 15% of Ohio drivers are uninsured, according to the Ohio Department of Insurance.
When you get an Ohio driver's license, you must sign that you have car insurance, but you are not required to show proof of insurance at this time. However, you are expected to be able to present proof of insurance during a traffic stop, a vehicle inspection, at the scene of an accident, or in a traffic court. In addition, all drivers caught driving without insurance must acquire an SR-22 certificate to demonstrate that they have adequate insurance from now on, which will normally be required for three to five years, depending on the violation. Car accidents can be costly and there is no guarantee that the minimum coverage insurance will cover the full cost of an accident.
If you plan ahead, consider the following suggestions and talk to your insurance agent at Wallace & Turner so that you can get out of this with a fully insured teenager with much less stress than most parents have to endure. The fact that a minor can void a contract makes car dealers and insurance companies wary of doing business with someone who has not reached the age of majority. The age restrictions for buying car insurance depend on the insurance laws of each state, but more importantly, they depend on the insurance company's policy on the signing of a contract by a minor. While insuring your personal vehicle with the minimum amount of insurance required by state law is usually the most affordable option, it doesn't mean you're fully protected in the event of a car accident.
All insurance products are governed by the terms of the applicable insurance policy, and all related decisions (such as coverage approval, premiums, fees and charges) and policy obligations are the sole responsibility of the insurance insurer. In most states and situations, minors can't get their own car insurance policies without a parent or guardian. Once your teen gets their full driver's license and is ready to start driving the family van or even the car you're buying, it's time to start thinking about insuring it. In most cases, you must be the age of majority defined by your state to purchase an auto insurance policy.
For example, a driver who wants to customize their car insurance policy with numerous optional coverages will want something very different from a driver who only wants basic coverage. The question of how old you must be to insure a car becomes moot when it comes to an emancipated minor. Usage-based insurance (UBI) is a relatively new car insurance policy model that can save drivers money if they drive safely. Bankrate covers the minimum car insurance requirements in Ohio and shares everything you need to know as an Ohio driver.