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Ohio Financial Responsibility Law

Link to Ohio BMV FR Laws Page

Ohio law mandates that all owners must maintain Proof of Financial Responsibility on all registered motor vehicles. The law also provides that it is illegal to operate any motor vehicle without FR Proof. You can prove Financial Responsibility in one of the following manners:

u Purchase a car liability insurance policy that meets or exceeds the minimum limits of liability in Ohio:  $12,500 per person / $25,000 per accident Bodily Injury, and $7,500 per accident Property Damage,

u Purchase a Financial Responsibility Bond ,

u Post $30,000 Cash or Securities with the BMV,

u Post a $60,000 Real Estate Bond with the BMV,

u Certificate of Self-Insurance (own 26+ vehicles).

Most People Buy Insurance or an FR Bond

You are required to show Proof of Financial Responsibility after all reported accidents, traffic violations, at vehicle inspection stops, and upon random checks by the BMV.  In Ohio, the law requires that all police officers verify FR Proof for all traffic citations and accidents. In addition, the BMV is mailing request for Proof of Financial Responsibility to about 1 out of 20 vehicle owners.

If you fail to prove Financial Responsibility,  the BMV will suspend your driving and registration privileges. The first offense carries the penalty of a 90 day suspension. Subsequent offenses carry the penalty of 1-2 year suspensions, immobilization, and forfeiture of your vehicle. Reinstatement fees range from $125 to $550. 

You will also be required to “File Proof of Financial Responsibility (SR-22/Bond)” with the BMV for a period of 3-5 years.

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SR22 OHIO QUOTE HOTLINE
1-877-677-OHIO (6446)

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