Shopper’s Guide to Life Insurance
(Complete Guide in PDF)
Describes life insurance coverage and the different types of life insurance policies. Answers common questions and gives shopping tips. Offers company premiums on a sample term life policy. Suggests questions you can ask the agent during the buying process. Contains a glossary of common definitions for life insurance words and phrases.
| STATE OF OHIO | |
| DEPARTMENT OF INSURANCE COMMUNICATIONS OFFICE |
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| Friday, April 25, 2008
Insurance Department Offers Auto Insurance Tips New on-line toolkit will provide insurance tips, information
COLUMBUS —As part of the Ohio Department of Insurance’s Auto Insurance Awareness Month, Director Mary Jo Hudson is providing important insurance tips and is reminding Ohioans to include a review of their automobile insurance policies as part of their driving season preparation. Ohioans are also encouraged to visit the Department’s new Auto Insurance On-line Toolkit at www.ohioinsurance.gov.
“Now is the time for Ohioans to review their auto insurance coverage and update it as needed,” Director Hudson said. “As the weather warms up, more people will be on Ohio roadways. It’s important that Ohioans and their vehicles are adequately covered in the event of an accident.”
The Department offers these tips for Ohioans:
Auto Insurance Planning Tips: • Examine your auto insurance policy to determine if you need to revise your policy to reflect any improvements or changes that will affect your coverage needs. Have you purchased another vehicle? Has a member of the household become of driving age? • Ohio has specific minimum coverage requirements that every driver must meet. While getting the minimum amount of coverage will cost less, it may not provide enough coverage in the event of a serious accident. If you are involved in an accident and the costs of injury or damage are more than the coverage, you may be required to pay the difference. Talk to your agent to find out just how much protection minimum coverage provides and the risks involved with only getting minimum coverage. Ask your agent what the price difference would be to increase your coverage limits. • Talk with your insurance agent on an annual basis to determine the best coverage for you and your family and your family’s budget.
Tips on Saving on Auto Insurance: • Increase your deductibles. • Drive safely and reduce the amount you use your car. • Consider dropping the comprehensive and collision coverage on an older car if the loan is paid off and the title is free and clear. Most financial institutions require comprehensive and collision coverage on vehicles if you have financed the purchase the car through a loan or lease agreement. If you own your vehicle, you are not required to have comprehensive and collision coverage on it. However, if you have a loss with that car, you may not receive money to pay for damages to that car from your insurance company. • Ask your agent about available discounts, such as a good driver or good student discount. • Shop around for the best deal. Ohio has the 13th lowest auto insurance rates in the country so more than likely you’ll be able to find insurance coverage that fits your budget.
The Department’s new Auto Insurance On-Line Toolkit, available at www.ohioinsurance.gov, provides guidance on auto insurance needs for different life stages, information on state minimum requirements and a list of frequently asked questions about auto insurance. There are also links to the Bureau of Motor Vehicles and National Association of Insurance Commissioners’ (NAIC) web site.
Ohio insurance consumers with questions and concerns about their insurance can call the Department’s consumer hotline at 1-800-686-1526. Free information can also be obtained at www.ohioinsurance.gov.
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