Financial Responsibility and the Ohio Bureau of Motor Vehicles

by Tiffany Budzinski, FLT Columnist

The ability to drive is a privilege and has evolved to be a necessary part of life.  Along with this privilege, we are also obligated to carry adequate insurance or other financial responsibility coverage.  After the long wait, you finally obtained your driver’s license, you are required to sign acceptance of financial responsibility as a valid driver in the state of Ohio. If you haven’t read through the financial responsibility (FR) agreement, here’s the detail on what you signed at the time you receive your Driver’s License.

You agree that as a driver or owner of the vehicle, if you fail to show proof of insurance, you will:

–          Lose your driver’s license until you have met requirements on the first offense, ONE YEAR on second offense and TWO YEARS on additional offenses

–          Lose your license plates and vehicle registration

–          Pay reinstatement fees of $100 on 1st offense, $300 for 2nd offense, and $600 for 3rd and subsequence offense

–          Pay $50 penalty for failure to surrender your driver license, license plates, or registration and,

–          Be required to maintain financial responsibility “SR-22” or bond on file with BMV for THREE or FIVE years.

Once the suspension is in effect:

–          Your vehicle will be immobilized and your license plates confiscated for a minimum of 30DAYS for 1st offense, 60DAYS for 2nd offense. For third or subsequent offenses, the vehicle will be forfeited and sold and you will not be permitted to register any motor vehicle in Ohio for FIVE YEARS.

If you are involved in an accident without insurance or other FR coverage:

–          In addition to the penalties listed above you may have a SECURITY suspension for TWO YEARS or more and,

–          A JUDGEMENT suspension indefinitely (until all damages have been satisfied)


To reinstate your driving privilege,  you may have to serve a suspension period, pay a reinstatement fee(s), file proof of financial responsibility insurance, petition for driving privileges from the court or the BMV and/or re-take a driver license examination.

Budzinski Insurance is a full line independent insurance agency providing auto, home, business, life, and health insurance to individuals and businesses.  Call us for a free auto quote (419)293-5020 or email,