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Auto Insurance

Auto Insurance

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The Risks of Being Uninsured

Car accidents are bound to happen. Being involved in a car accident without Auto Insurance will be an expensive mistake, even if the accident was not your fault. Ohio follows a “fault” system when it comes to car accidents; meaning, whoever is responsible for the accident is chargeable for all losses (assuming the victim has car insurance). If you are at fault for causing the accident and another person is injured, that person is entitled to sue for all damages including medical bills, lost wages, property damage, and physical/ psychological damage.


Ohio follows the “fault” system which allows for the person who is at-fault, when an accident occurs, to pay for all losses and damages. However, if the victim does not have insurance then that person opts out of the opportunity to file a claim with their own insurance policy, and is no longer able to pursue a claim directly with the at-fault driver’s insurance company. The victim would then have to pay out of pocket for a filing a lawsuit, and hiring a lawyer in hopes that the at-fault driver is found guilty.


Ohio is one of the many states known for having “bad drivers”; Whether there is too much construction, rush hour, or drivers not paying attention, Ohio drivers have been deemed inadequate. By the end of the year 2015, Ohio had over 302,000 car accidents. Of all the accidents, uninsured drivers are to blame for 9,000 of the accidents. 14% of Ohio drivers are uninsured, and the state has started to crack down on uninsured drivers.


Ohio is a part of the top five states with the largest number of uninsured drivers, and the state does not take that kindly. Every week the state selects 5,000 drivers and demands verification of their auto insurance coverage. When caught without insurance, the driver waves driving privileges for a maximum of 2 years, along with the suspension of license plates and vehicle registration ranging from 30-60 days. The state also requires a reinstatement fee charging up to $650. Multiple offenses could result in vehicle forfeiture along with a 5-year suspension on vehicle registration.


Car accident average without auto insurance:

  • A property damage car accident, with non-disabling injuries, equates to around $7,500.
  • A car accident involving a driver (or passenger) who received a disabling injury, averages out to around $61,600 (per person).
  • A severe car accident involving a driver (or passengers) death adds up to around 1,130,000 per person).

If you are a-part of the 14% of uninsured drivers, or you feel as if your auto insurance cost too much to maintain, Smart Money Management can direct you to an auto insurance company in which better suits your and budget you into a safer future.


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