Oklahoma Auto Insurance Guide

Driving in Oklahoma requires that a person fulfill certain financial obligations in order to prove that they are capable of handling the financial responsibilities of an accident. This is common to all fifty states in some degree or another.

Oklahoma Insurance Regulations

When it comes to auto insurance in Oklahoma, the state regulations are much more lax than in many other states. The primary benefit is in that Oklahoma does not actually require an auto insurance policy per se, only that you establish and maintain financial responsibility which can be done in several ways.

Mandatory Minimum Coverage in Oklahoma

The auto insurance laws in Oklahoma require that you prove yourself financially responsible and able to pay certain amounts if you are held liable for a car accident. The primary way that this is done is by securing an auto insurance policy that must meet the following minimums:

• $25,000 - for injury liability insurance for one person
• $50,000 - for injury liability insurance for multiple persons injured or killed in an accident.
• $25,000 - for repairs to property that is damaged in an accident you cause.

There are some who prefer not to purchase auto insurance in Oklahoma and instead turn to the other options which are to:

• Deposit $75,000 in cash with the Department of Public Safety
• Apply for coverage under Oklahoma's Assigned Risk Auto Plan
• Apply for and receive a bond issued by a surety company authorized by the state
• Businesses have the option of taking out a self-insurance policy as long as they have more than 25 vehicles registered to them.

Those who choose the standard insurance policy option should bear in mind that the minimums required by state law may not be sufficient to afford full financial protection in the event of an accident. You may want to consider purchasing higher limits.

Motorcycle Coverage Requirements

In Oklahoma, motorcycle riders are given a break on insurance requirement levels. Instead of needing to carry 25/50/25 levels of insurance they are only required to carry 10/20/10. There is a discount available on the insurance policy for a period of up to 3 years if the rider completes a motorcycle accident course. The discount is not available to those who are taking the course as ordered by a court.

Oklahoma State Auto Insurance Advice

Oklahoma's insurance regulations are fairly lax and the coverage minimums are low. The rates offered by insurance companies in the state tend to be lower than the national; average, though teenage drivers can still expect to pay a hefty premium for coverage.