Oklahoma Car Insurance Rates
The motto of the state of Oklahoma is ‘Labor vincit onmnia’, meaning ‘work conquers all’. In the Oklahoma state, it is the tort system of law that is practiced. This means that the fault of any accident must be determined and the person who is responsible for the accident ascertained. Since the individual who is held responsible for the accident and their insurance provider will be responsible for payment of all damages; you need to have detailed knowledge about the applicable tort system in Oklahoma.
The 25/50/25 law
In Oklahoma, it is not mandatory to purchase insurance cover to claim damages against another individual who is responsible for an accident. This can be difficult if the other person is not insured or is under-insured. Therefore, although it is not mandatory, it is certainly advisable that you do get this type of insurance to safeguard yourself in case you are involved in such an incident. The laws regarding car insurance in Oklahoma require you to have liability insurance in line with the 25/50/25 law which requires cover of at least $25,000 for property, as well as injury damages, along with a $50,000 accident insurance. If, per chance, you were to be involved in a car accident and you were found to be responsible, then these are the maximum limits covered by your insurance. But if the amount of damage is more than these amounts, you may be sued for the balance amount of damages.
Proof of car insurance
In Oklahoma, it is absolutely essential that you must have proof regarding your car insurance policy available with you at all times. This is because, as per the state laws, you have to show it to any traffic trooper or officer who requests it. In addition, if you are involved in an accident, then it is mandatory that this proof is shown to the other party. It is vital that you always have the proof of insurance because if you fail to do this then you could have your driving license suspended or a fine levied, or even a jail sentence of 30 days. In case you are not able to get your car insured in Oklahoma, then a program initiated by Oklahoma, called the Oklahoma Automobile Insurance Plan, allows any Oklahoma broker to write up a plan for you.
Past average premium rates
In 2008, the average premium for comprehensive insurance was $178.78, and for collision and liability it was $297.20 and $391.81 respectively. The average premium in Oklahoma today is $1,524.08 as compared to the national average of $1,439.33. The average premium for car insurance in some cities is quite high. For example, in Tulsa and Oklahoma City it is $1,931.54 and $1,805.90 respectively. You can obtain numerous free quotes from various sources – agents, brokers or even directly from the insurance companies. It is advisable that you should give all your answers honestly so that you receive a fair quote. It will help if you have an unblemished driving record devoid of any fines imposed, speeding tickets issued or even citations because these negatives may increase the premium on your car insurance. Their absence will help you save and get a great deal on your insurance plan.
Make regular payments of premium
Most important of all is that you should never ever let your auto insurance policy lapse. Even if you are not driving your car, which is parked in your garage on wooden blocks, you should continue to regularly pay your premiums and keep the car insurance policy alive. On your policy lapsing, the insurance company can levy a fine or charge you a fee when you opt to get your policy reinstated. These fines and fees can add up to a substantial amount by the time you get your car on the road again. Even if you regularly pay your premium but consistently pay late after the due date and grace period, you may be levied a late fee, which may eat into your savings and money allocated to payment of car insurance premiums.
Surf for insurance rates
Whilst selecting insurance for your car in Oklahoma, one option is to surf the net. There are many sites that offer their services for insuring your car, or are affiliated with insurance providers. Not only will you be able to get detailed information regarding different types of policy, but these sites offer you an instant quote for your car. These companies have an online calculator for calculating the insurance rate. Insurance rates can vary depending on many factors, including the model and make of your car and your residential locality. There are also other factors that affect your insurance premium. It would be prudent to choose a reliable insurance company that has a local representative with whom you can have direct contact as and when needed.