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Oklahoma Car Insurance Requirements

Oklahoma Minimum Car Insurance Requirements

The state of Oklahoma only requires drivers to carry liability insurance. It is accompanied by a mandatory minimum amount of coverage. These liability insurance minimums for the state of Oklahoma are as follows:

  • $25,000 for bodily injury per person
  • $50,000 for bodily injury per accident
  • $25,000 for property damage per accident

You must carry proof of insurance every time you drive and be ready to present it if asked to by law enforcement. It is also important to note that if you have an auto loan or lease your vehicle, your lender or leasing company may require you to carry additional car insurance.

Oklahoma Liability Insurance

Liability insurance covers two aspects of an accident: bodily injury and property damage. It will pay for those various expenses the other driver accumulates after an accident you are found to be responsible for. It is important to note that this coverage will never apply to your bodily injuries or damage to your property. In order to acquire protection for yourself, you will need to expand your car insurance policy.

Car Insurance Limits in Oklahoma

Coverage limits are the maximum amount your insurance company will payout in the event of a claim. At the same time, states can set their own required insurance limits that every driver has to carry. In the state of Oklahoma, liability insurance limits are expressed as 25/50/25. Each number represents a different aspect of liability insurance. Those categories and what they cover can be found below.

  • Bodily injury per person is how much your insurance company will pay to cover injuries you cause to a single person in an accident.
  • Bodily injury per accident is the amount of money your insurer will pay for all injuries you cause in an accident you have found to be responsible for.
  • Property damage per accident is the amount your insurance company will pay for damage to property you cause in an accident.

Is Oklahoma’s Mandatory Insurance Minimums Enough Coverage?

No. The state-mandated car insurance requirements for the state of Oklahoma are not that great. The coverage limits Oklahoma sets especially leave you vulnerable. For example, if you total someone else’s car and damage other property in the area, $25,000 may not make much of a dent in the costs. This leaves your finances at risk. Not to mention that medical bills can easily exceed the limits if you carry only the required minimums. It is highly recommended that you purchase a policy with increased limits and utilize policy add-ons.

Driving Without Insurance in Oklahoma

Since car insurance is required in the state of Oklahoma, choose to drive without it can have some serious consequences. Outlined below is what you could be facing if you fail to provide proof of insurance as a driver in Oklahoma.

  • A fine of up to $250
  • Jail time
  • License suspension
  • Reinstatement fees
  • Administrative fees

Additional Types of Car Insurance in Oklahoma

Since the state of Oklahoma only requires drivers to carry liability insurance, it would be in your best interest to look into insurance policy add-ons. These can help expand your coverage. Listed below are some common types of car insurance you can add to your policy.

  • Collision: This coverage will protect your car from damages it sustains in an accident with another vehicle.
  • Comprehensive: This covers damages to your car when it is not in use. Some perils under this policy include theft and extreme weather.
  • Gap Coverage: If your car is totaled before you can pay back your auto loan, gap coverage can help. This insurance will cover the difference in your vehicle’s actual cash value and what is remaining on your loan.
  • Medical Payments: This covers medical expenses for you and your passenger(s) following an accident.
  • Roadside Assistance: If your car is experiencing issues while you are on the road, roadside assistance can lend a helping hand.
  • Uninsured/Underinsured Motorist Coverage: Despite insurance being required by law in Oklahoma, millions of people still drive without it. This type of insurance will help to cover your medical expenses and property damage when the other driver’s liability insurance is nonexistent or inadequate.

Car Insurance is Important For Any Oklahoma Driver

Not only is car insurance required by law in Oklahoma, but it also offers valuable coverage after an accident. It would be smart to purchase a policy that not only has high coverage limits but also includes some policy add-ons. The combination of these can help give you the best coverage. You will want to make sure you and your assets are covered following an accident. It only takes one collision for you to end up in some unfortunate situations.

*This product may not be available in every state, please call an agent for more information.

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