The subject of Oklahoma car insurance is not as complicated as you might expect. However, finding the right policy to meet your needs can be.
It takes persistence and determination to compare insurer offerings, examine coverage and settle on an Oklahoma car insurance policy you can live with.
InsureMe, your premier online insurance quoting service, has been educating consumers on the subject of car insurance since 1993-and we'd like to help you, too! Take just a moment to provide us with a little information, and you'll be on your way to Oklahoma car insurance tailored specifically to your needs.
Oklahoma is a tort state, which means drivers are held financially responsible for the property damage and personal injury they cause.
The degree of fault documented by each driver's Oklahoma car insurance company determines the amount of money each party must contribute toward the resulting costs. This is known as "comparative negligence."
State law requires car owners and drivers to carry either an owner's policy or a non-owner's policy in order to prevent any lapse in Oklahoma car insurance protection. However, the state requires only liability coverage, which protects you against costs incurred when you damage or injure someone else or their property.
Minimum amounts of liability insurance Oklahomans must carry include:
Most Oklahoma car insurance companies strongly recommend you carry more than these basic minimums. You must have enough coverage to protect yourself against financial obligations such as medical bills and repair costs, and legal obligations such as lawsuits.
Other Significant Considerations
Oklahoma car insurance companies also offer optional coverages such as medical payments, collision, comprehensive, and uninsured/underinsured motorist to further protect you in the event of an accident. Talk to a qualified Oklahoma car insurance agent to determine which, if any, coverages you need.
How Premiums Are Determined
Oklahoma car insurance premiums are determined by the behavior of the state's drivers on the whole.
Insurance companies divide up the cost of doing business providing Oklahoma car insurance to consumers, and disperse it amongst Oklahomans who own and/or operate a vehicle.
But cost isn't spread around evenly. Oklahoma car insurance companies group like consumers together in categories, and then determine premium rates based on claims risk within that group. Group factors considered include driving record, age, location, type of car driven, annual mileage and other measurable statistics.
What This Means for You
Each of these factors plays an important role in the determination of your Oklahoma car insurance premium.
Car insurance companies set rates according to calculated risk levels; so if you have multiple tickets, drive an expensive car or live in a high-crime area, your Oklahoma car insurance premiums will likely be higher than those for someone who has no tickets or accidents, drives a less expensive car or owns one that costs less to repair.
However, not all Oklahoma car insurance companies use the same categories and calculations to figure rates, so be sure to compare companies and policies thoroughly before making your final purchasing decision.
Keeping Your Costs Low
To get the best Oklahoma car insurance coverage at the best price, you must take steps to keep premium costs low.Some good ways to lower your Oklahoma car insurance premium include:
If You Can't Find Coverage
The Oklahoma Automobile Insurance Plan (OAIP), created in 1950, provides Oklahoma car insurance to high-risk or uninsurable drivers who meet certain eligibility requirements. Any state car insurance agent can help you apply to this plan if you can't find insurance coverage elsewhere.
For more information on OAIP, talk to a licensed Oklahoma car insurance agent, or get more information online at www.aipso.com/ok.
If You Still Need Help…
Contact your local Oklahoma car insurance company or agent. For further unresolved issues, contact the Oklahoma Insurance Department at 800-522-0071, or log on to www.oid.state.ok.us any time.
Now That You Have All the Facts…
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