Oklahoma Auto Insurance
In the state of Oklahoma, auto insurance is mandatory, and every motorist must carry some form of minimum liability insurance in order to officially register a vehicle with the state. Oklahoma has several different roadways and interstates including I-40, I-35, and I-44, and it is important for all motorists to have at least some form of insurance when traveling through the state.
In order to save money on Oklahoma auto insurance rates, it is important to look at quotes from various companies so that you can find the most competitive premiums. For a comprehensive list of insurance quotes in Oklahoma, select the above link, and you will be able to safely view a list of insurance rates from all of the major companies in the area.
State Specific Laws Concerning Oklahoma Auto Insurance
Oklahoma is a tort state, so in an accident, the person at fault will have to pay for all of expenses incurred including medical costs, death and funeral expenses, or property damage. Therefore, Oklahoma residents must have a minimum amount of liability insurance as outlined by Oklahoma state law. In order to legally operate a vehicle in Oklahoma, a motorist must not only obtain adequate insurance, but they must ensure that the insurance policy does not lapse.
If you are found without insurance, there will be some severe penalties including license suspension, registration suspension, fines up to $250 for the first offense, and jail time. Proof of insurance is required at all times while operating a motor vehicle of any kind on roadways in Oklahoma, and acceptable proof of insurance will include certification of current insurance, policy number, and insurance company name.
Oklahoma Auto Insurance Minimum Requirements
Drivers in Oklahoma are required to purchase at least $25,000 of coverage for bodily injuries sustained to an individual in an accident and $50,000 of total coverage for bodily injuries per accident. Motorists must also have minimum liability coverage in the amount of $25,000 per accident for property damage. While these minimums are mandatory, individuals may also choose to purchase optional coverage for Personal Injury Protection (PIP) and uninsured/underinsured motorist coverage. Both of these types of insurance will protect the insured driver in an accident, while liability insurance will only cover the expenses to the other party.
Other Information on Oklahoma Auto Insurance
In contrast to other states, Oklahoma state law section 941 does not permit the state to deny insurance based on previous accidents where the insured driver was not at fault. They cannot increase premiums if a person was in an accident and they were not at fault even if they were uninsured at the time; however, they can increase premiums if the driver was at fault in the collision. Oklahoma also does not allow insurance companies to increase premiums based on the number of points accumulated on a driver’s license. In many other respects, Oklahoma state law is enacted to protect parties that are not at fault in a collision by assigning all financial responsibility to those that are deemed to have caused the accident.
For more information on Oklahoma state law regarding auto insurance coverage and minimums, review the reference below.