Financial Responsibility Insurance
FRA REQUIREMENT
Anytime a
person is required to file and maintain Proof of Financial Responsibility Insurance with
the Bureau of Motor Vehicles (BMV), it can be done by one of the following types of insurance:
Certificate of Insurance (Form
SR22) –
obtained from a licensed insurance agency;
Surety Bond in the amount of $32,500
– obtained from a licensed insurance
agency;
BMV Certificate for money or
government bonds in the amount of $30,000 on deposit with the Ohio Treasurer
Richard Cordray.
The
insurance must be maintained for three years from the suspension date (5 years on no
insurance cases and some convictions with conviction dates on or after April 20, 1995 per
Senate Bill 20).
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