Posts Tagged ‘Oklahoma Auto Insurance’

Oklahoma Auto Insurance Coverage and Financial Responsibility

Sunday, September 25th, 2011

Oklahoma auto insurance buyers are required to comply with the state’s financial responsibility laws by having at least the state minimum level of coverage in place. This level of coverage is 25/50/25, which breaks down as follows:

  • $25,000 in bodily injury liability coverage to pay for injuries and damages suffered by one accident victim
  • $50,000 in bodily injury liability protection to compensate two or more people injured in the same accident
  • $25,000 in property damage protection to pay for repairs to the other driver’s vehicle and public property damaged in the event

Proof of Financial Responsibility

Drivers in Oklahoma are required to show proof of financial responsibility during a traffic stop by a police officer or when an accident occurs. Drivers must also show their current auto insurance card if they are registering a vehicle or renewing it. Proof of insurance must also be provided when getting a driver’s license.

Insurance companies in Oklahoma are required to inform the state Department of Public Safety if a driver’s policy is canceled within 180 days after being issued. The driver will be sent a letter directing him or her to provide proof of valid insurance coverage within 30 days.

Penalties for Failure to Maintain Auto Insurance Coverage

Drivers who do not comply with Oklahoma’s financial responsibility laws may have their driver’s license and/or registration revoked. A fine of up to $350 may be imposed, and the driver who does not have insurance in place may also be sent to jail for up to 30 days.

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Posted in Oklahoma, USA |

Oklahoma and Virginia Auto Insurance Coverage Comparison

Saturday, September 24th, 2011

Oklahoma and Virginia auto insurance minimum coverage limits are similar and each of these states follows the tort system for car insurance purposes. Under this system, the at-fault driver in a motor vehicle accident is responsible for paying for the damages he or she caused and accident victims have the right to sue for compensation for their medical bills and rehabilitation expenses incurred as a result of the incident.

Oklahoma Auto Insurance Minimum Coverage Levels

Oklahoma auto insurance buyers must have at least the following levels of coverage in place to comply with state laws:

  •  $25,000 to pay for injuries or the death of one accident victim
  • $50,000 to pay for injuries or deaths of two or more accident victims
  • $25,000 in property damage insurance coverage to pay for repairs to the other driver’s vehicle, as well as any public property damaged or destroyed in the accident

 Virginia Auto Insurance Minimum Coverage Levels

Drivers in Virginia are required to buy a policy offering at least these coverage levels:

  • $25,000 to compensate a single accident victim for his or her injuries
  • $50,000 to pay for injury and damage claims made by all people injured in the same accident
  • $20,000 in property damage liability insurance to pay for the cost to repair or replace another person’s property damaged or destroyed in an accident

Drivers can choose to buy a policy with a higher level of coverage than the minimum legal requirement, and it’s a good idea for them buy more than this level of protection, since they will have better coverage if an at-fault accident occurs.

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Posted in Oklahoma, USA, Virginia |

Oklahoma Drivers Can Find Low Rates by Checking out Free Car Insurance Quotes

Monday, June 20th, 2011

When Oklahoma drivers are looking for affordable coverage rates, they should make a point of checking out free car insurance quotes. Many insurance providers provide pricing information to drivers at no cost. Ideally, a driver will take the time to review his or her coverage at least once a year to determine whether the right type and level of protection is in place.

Before a driver starts getting quotes for coverage from different providers, he  or she should start by reviewing the current policy carefully. Insurance needs change over time, and a policy that was a good for a new driver or someone who has recently bought a vehicle may no longer be a good fit a few years later on.

In the case of a person who has bought a new vehicle by taking out a loan, the financing company may insist that full coverage (collision and comprehensive protection) be kept in place until it has been paid off. After that point, the driver may want to drop the collision coverage entirely and limiting the comprehensive insurance to fire and theft only to save money.

Going online is an effective way to shop for car insurance coverage  in Oklahoma. A person who is looking for insurance can get quotes from several providers quickly and easily by filling out online forms on individual web sites or checking out a site that can provide pricing from a number of providers at once.

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Posted in Free Car Insurance Quote, Oklahoma, USA |

How Oklahoma Car Insurance Companies Set Rates

Monday, June 6th, 2011

Oaklahoma car insurance companies set rates by considering a number of factors. The exact formula used is confidential, and not all companies give each factor the same weight when determining whether to offer to cover a particular driver and how much to charge.

One of the major factors insurance companies look at is likely the individual’s driving record. A person who has been involved in one or more accidents or who has accumulated numerous moving violations will be considered a higher risk to insure that someone who has a clean record. New drivers can qualify for preferred pricing on their coverage by successfully completing an approved driver’s education course. Customers who have been on the road for a few years can benefit from taking a defensive driving course, since it will help participants correct any bad habits they have developed since becoming licensed.

The applicant’s age and marital status are also considered by car insurance companies when setting rates. Mature drivers are less likely to be involved in accidents, and married people are considered more mature and reliable than their single counterparts.

The make and model of the vehicle is another important factor that car insurance companies look at when setting rates for their customers. Insurance companies keep track of which types of vehicle are most likely to be involved in accidents or targeted by thieves. They also track the zip codes where car thefts have been reported; drivers who live in these areas will be charged higher rates for their coverage.

 

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Posted in Car Insurance Rates, Oklahoma, USA |

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