Oklahoma Auto Insurance Information
Auto insurance. Oklahoma.
Oklahoma law requires you to have insurance before you drive. The minimum limits of liability required by Oklahoma law are 25/50/25 ($25,000 bodily injury coverage for one person, $50,000 per accident for bodily injury, and $25,000 per accident for property damage). Liability insurance covers you against damages you cause to others if you are at fault in an accident. It does not protect you against your own losses.
Factors that Affect Premiums
Insurance companies use a variety of factors to determine a policyholder’s likelihood of experiencing an accident or loss. Some factors include but are not limited to: driving history; type of vehicle (including model, year and value); territory (where you garage and drive the vehicle), number of accidents; gender; age and credit scores. Driving record history can only be used for three years.
Before you buy a policy, remember
Shop around for the policy that is right for you. Shop for the company and/or agent that offer the best service for the best price. If you have a clean driving record, avoid companies and agents that advertise to high-risk drivers. Their premiums often are higher. Get quotes from several companies before you buy. Make sure you understand what coverages are included and that you’re comparing equivalent policies.
You can save money on your premiums by increasing your policy deductibles. However, you'll have to pay more out of pocket if you have a claim. It is important to note that insurance is for catastrophic events and filing small claims may result in larger premiums due to applied surcharges.
You may qualify for discounts on your rates. A three-year discount is mandatory if you successfully complete an accident prevention course approved by the Department of Public Safety. This discount does not apply if the course is taken for any court order in connection with a motor vehicle violation or an alcohol/drug-related offense. Other optional discounts may be available including, but not limited to:
This coverage pays you, resident members of your family, and occupants of your car for personal injuries caused by an uninsured motorist, an underinsured motorist, or a hit and run driver. While you are not required by law to carry this coverage, companies are required to offer it with every policy. It does not pay for damages to your car. If an uninsured motorist damages your car, repairs would be paid for under your collision coverage. If you carry liability only, there would be no insurance coverage available to repair your car.
Oklahoma Assigned Risk Auto Plan
If you are having problems finding auto insurance due to a high risk driver classification, you should contact Oklahoma's Automobile Insurance Plan.
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