While legally mandatory insurance in Ohio covers the results that result from car accidents, comprehensive car insurance covers your car in case of damage that is not caused by an accident. Collision insurance covers repair or replacement costs if you have an accident, hit an object, or roll over your car. If you're at fault for a car accident, your liability insurance pays for repairs to the other driver's car and will likely cover the doctor's bills if you're injured. To insure against the costs of damage caused by these and other sources, State Farm offers a variety of auto insurance options.
Lenders often require collision and comprehensive insurance, in addition to the insurance you must have under Ohio law when financing a car. Comprehensive auto insurance protects you from losses other than a collision with another vehicle or object and from single-vehicle rollover accidents. Comprehensive insurance covers repair or replacement costs if your car is damaged by falling objects, natural disasters, floods, fires, theft, vandalism, or animals. Some states require drivers to have PIP or MedPay, while collision insurance is often mandatory if you rent or finance your car.
However, what some consider to be full-coverage auto insurance is the combination of comprehensive insurance, collision insurance, and liability insurance. If you lease your vehicle or if you used a loan to buy it, your lender or finance company will likely require you to purchase comprehensive car insurance, since your landlord or lender will want to be protected if anything happens to your car during the term of the lease or loan. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provision, limitation or exclusion that is expressly stated in any insurance policy. For example, it might not be worth doing expensive repairs to an old car with high mileage, and you might want to save up to buy a new car instead of paying for additional insurance.
You should cancel your car's full coverage insurance when the cost of the insurance is equal to or greater than the potential payment, in the event of a covered event.