There are numerous car insurance laws in Oklahoma designed to protect the drivers of the Sooner State. With over 2.5 million licensed drivers on the roads in Oklahoma, understanding the basic laws is helpful as drivers make financial decisions regarding their vehicles and auto insurance policies.
In 2019, Oklahoma recorded 584 fatal crashes, with over 640 deaths as a result, which also means 16.2 deaths per a population of 100,000. While keeping drivers safe is the primary goal, it is important to ensure that all victims of an accident have financial protection. Understanding the Oklahoma car insurance laws is a key step to better insurance policy decisions.
Oklahoma has laws regarding car insurance
Oklahoma drivers looking for auto insurance should be familiar with the minimum insurance that is required to legally drive. There are some other simple laws that drivers need to be aware of.
- Oklahoma auto insurance requirements include minimum liability coverage.
- Oklahoma participates online in insurance verification. If you are stopped by law enforcement, the officer must verify insurance coverage through this.
- Proof of insurance must be carried by drivers at all times.
- You can be fined and punished if you’re caught driving without insurance
Oklahoma has liability insurance
Oklahoma requires drivers to purchase minimum liability insurance of 25/50/25, which includes:
- $25,000 per person in bodily injury coverage
- $500,00 bodily injury coverage per accident
- $25,000 per accident in property damage coverage
Oklahoma car insurance laws also requires insurance companies to offer uninsured motorist/underinsured motorist coverage to all drivers. Minimum rates are $25,000/$50,000, respectively. This coverage can however be denied in writing.
A driver may be financially exposed if they only purchase the minimum liability. If you are found to be at fault in a multi-injury, multiple-person collision, your minimum liability limits may not be sufficient to pay for medical expenses. If you do not have enough liability insurance, the other drivers can sue for additional payments towards medical expenses. Financial experts advise that you have as much liability coverage in place as your budget will allow. This is also financially sensible.
Although adding options like collision and comprehensive insurance can increase your premiums, they provide coverage for your vehicle’s damage. Your vehicle’s repair or replacement is not covered by liability insurance.
Is Oklahoma a no-fault state?
Oklahoma is considered at-fault. This means that someone must be deemed at-fault for a vehicle accident. The insurance company of the at-fault driver is liable for any medical expenses or property damage. To ensure adequate limits, you should consider purchasing more liability insurance than the minimum required.
Driving without insurance in Oklahoma can result in severe penalties
Residents of Oklahoma caught without auto insurance face steep fines and penalties. You will need to show proof that you obtained insurance. The proof must be submitted via the validation system. In addition, you will have to pay a reinstatement charge. A $250 fine will be assessed.
Driving without insurance can lead to other penalties. Your license could be suspended and you may face jail time for up to 30 days. Oklahoma law allows for your vehicle to be towable or your license plate to seized. Your license plate will be seized for $125 once. You must also show proof of insurance to reinstate it.
Oklahoma offers additional auto insurance options
The bare minimum coverage may provide you with the necessary financial protection. While liability insurance is essential and legally required by law, there are other options.
- Personal injury protection (PIP) coverage:If you are in an accident, this policy covers you and your passengers for medical expenses and lost wages.
- Roadside assistance:It provides assistance if your car becomes unusable. This usually covers towing, fuel delivery, tire changing, and lockout.
Questions frequently asked
Which Oklahoma car insurance company is best?
To find the best car insurance company in Oklahoma, Bankrate reviewed multiple national carriers. All aspects of customer service, financial strength, competitive rates, discounts, and customer service were reviewed. Bankrate’s Oklahoma Drivers Review rated USAA, State Farm and Liberty Mutual as well as Farmers and Allstate high.
Which is the best Oklahoma car insurance?
The rates for cheapest car insurance in Oklahoma will be different for every driver. Rates are affected by a number of factors including zip code, credit score, driving record, and vehicle. Bankrate found that Mercury, State Farm, Farmers Insurance and USAA had the lowest rates in the review after analysing data from Quadrant Information Service.
What is the cost of Oklahoma car insurance?
While your exact rates depend on your personal factors, the average cost of car insurance in Oklahoma is $423 per year for minimum coverage and $1,873 per year for a full policy. It is best to get quotes from multiple companies simultaneously in order to find the lowest rate for your situation.
