The Oklahoma DMV says there is minimum mandatory auto insurance everyone is expected to carry in this state. However, as one Tulsa driver found out — the bare minimum is not always enough. “Alberto” told Channel 2 News that he signed up for a cheap “name your own price” policy — only to find that he had to pay off an auto loan and the expense of towing for a car that was too smashed-up to drive. To avoid this fate, take a moment to consider what type of coverage you actually have.
Minimum Auto Insurance Coverage In Oklahoma
By state law, every motorist must have insurance to cover medical bills and property damage. A typical policy will ask that you pay for bodily injury liability, which will protect you against lawsuits if people in the other vehicle are injured. Property damage will cover damage to the other party’s vehicle, fence or tree, due to your negligence. Uninsured motorist coverage will protect you and the people in your car if you’re hit by someone who does not have liability insurance. Oklahoma state law requires you to buy 25/50/25 insurance, which means they’ll cover up to $25,000 per person, $50,000 per accident, and $25,000 in property damage.
Tulsa Auto Insurance To Protect Your Car
Naturally, you don’t just want to protect the other guy. You want your own car to be covered too. Collision coverage will pay for physical damage if you hit another object, be it a motor vehicle or a tree. Comprehensive coverage will pay for other losses — like fire, theft, vandalism, weather, falling objects, collisions with animal, or broken windows. For these claims, you can choose a deductible ranging from $250 to $1,000 — which is how much you’ll pay out-of-pocket before your insurance kicks in. The higher your deductible, the lower your overall rate will be.
- Medical Payment Coverage (MPC) to pay for medical and funeral expenses if there are fatal injuries.
- Rental Reimbursement Coverage if your vehicle is damaged in an accident.
- Towing / Roadside Assistance if you need a vehicle towed, bust a tire, or run out of gas.