New law may mean higher insurance premiums - 13abc.com Toledo (OH) News, Weather and Sports

New law may mean higher insurance premiums

COLUMBUS, Ohio (AP) - A new law approved by Ohio lawmakers would raise the minimum amount of car insurance motorists are required to carry.

WBNS-TV reports that both the Ohio House and Senate passed bills Thursday that would raise minimum coverages. For example, the state minimum for property damage coverage would jump from $7,500 to $25,000.

State Rep. Mark Okey, 1 of the sponsors of the House bill, says current limits are so low that they leave a lot of drivers vulnerable. He noted that no changes have been made to the minimum requirements since 1969, while the cost of cars and car repair has skyrocketed.

Okey acknowledges that it will lead to some people paying higher premiums, but he said the increased cost won't be dramatic.

 

 

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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