Auto Insurance Oklahoma: Auto insurance is essential for protecting drivers against financial loss due to accidents or theft.
Focusing on Oklahoma, this article explores the critical aspects of auto insurance policies in the state, helping residents navigate their options effectively and ensure they are adequately covered.
Understanding Auto Insurance in Oklahoma
Auto insurance is a critical component of vehicle ownership, providing financial protection against accidents, theft, and other unforeseen incidents. Essentially, it is a contract between the vehicle owner and the insurance company, where the owner pays premiums and, in return, receives coverage for specific financial losses during the term of the policy. This coverage is not just a financial safeguard but also a legal requirement in many places, including Oklahoma.
Legal Requirements for Auto Insurance in Oklahoma
In Oklahoma, the law mandates that all drivers carry a minimum amount of auto insurance to legally operate a vehicle. The required coverage includes:
- Bodily Injury Liability: This covers injuries that you, as the policyholder, may cause to someone else. Oklahoma requires a minimum of $25,000 per person and $50,000 per accident.
- Property Damage Liability: This policy covers damage you might cause to another person’s property. In Oklahoma, the minimum requirement is $25,000 per accident.
These requirements are often summarized as 25/50/25 coverage. Driving without meeting these minimum insurance standards can result in severe penalties, including fines and suspension of your driver’s license.
Types of Auto Insurance Coverage Available in Oklahoma
Beyond the basic legal requirements, several types of auto insurance coverage are available to drivers in Oklahoma, offering various levels of protection:
- Collision Coverage: Pays for damage to your vehicle in the event of a collision with another vehicle or object, regardless of fault.
- Comprehensive Coverage: Covers damage to your vehicle caused by non-collision incidents such as theft, fire, or natural disasters.
- Uninsured/Underinsured Motorist Coverage: Provides protection if you are in an accident with a driver who either does not have sufficient insurance or none at all.
- Medical Payments Coverage: Helps cover medical expenses for you and your passengers in the event of an accident, regardless of who is at fault.
- Personal Injury Protection (PIP): Similar to medical payments coverage, PIP can also cover other costs such as lost wages or childcare expenses resulting from the accident.
However, it’s advisable to consult with an insurance professional to tailor a policy that fits your situation and ensures compliance with Oklahoma laws.
Factors Affecting Auto Insurance Rates in Oklahoma
Below is a comprehensive breakdown of the various factors that influence auto insurance premiums, with a specific focus on the state of Oklahoma.
General Factors Influencing Auto Insurance Premiums
- Driving Record: A clean driving record without accidents or traffic violations typically leads to lower premiums.
- Credit Score: Insurers often use credit scores to predict the risk of filing a claim; a higher score can mean lower rates.
- Vehicle Type: The cost, model, and safety features of a vehicle can significantly impact insurance costs.
- Coverage Level: The amount and types of coverage—such as liability, collision, and comprehensive—determine the overall cost.
- Deductible Amount: Higher deductibles generally lead to lower monthly premiums since you pay more out of pocket in a claim.
- Annual Mileage: Less time on the road means reduced risk of accidents, which can lower insurance costs.
Factors Specific to Oklahoma
- Weather-Related Claims: Oklahoma’s susceptibility to severe weather conditions, like tornadoes and hail, can increase the likelihood of claims, which may raise premiums.
- State Insurance Laws: Oklahoma requires specific coverage minimums that can affect how insurers price their policies.
- Local Crime Rates: Areas in Oklahoma with high rates of vehicle theft or vandalism might see higher insurance costs due to increased risk.
How Demographics Affect Auto Insurance Rates in Oklahoma
- Age: Typically, younger drivers (especially those under 25) face higher premiums due to their perceived inexperience and higher risk of accidents. Conversely, mature drivers with more experience often enjoy lower rates.
- Gender: Some insurers use gender to determine risk levels, although this practice has been facing increasing scrutiny and legal challenges.
- Marital Status: Married individuals often receive lower rates as they are statistically found to be involved in fewer accidents than single drivers.
- Driving History: In Oklahoma, as elsewhere, drivers with a history of accidents or traffic violations are likely to have higher premiums. This is due to the increased risk they pose compared to drivers with clean records.
However, understanding these factors can help Oklahoma drivers not only anticipate their insurance costs but also take proactive steps to manage them.
How to Choose the Right Auto Insurance Policy in Oklahoma
Selecting the right auto insurance policy in Oklahoma involves more than just looking at the premium costs. It’s essential to ensure that the coverage meets your needs and provides peace of mind. Here’s how you can make a well-informed decision:
Tips on What to Look For When Selecting an Insurance Policy
- Coverage Options: Understand the different types of coverage available, such as liability, collision, and comprehensive insurance. Ensure that the policy you choose covers all the risks associated with your driving habits and environment.
- Deductibles: Evaluate the deductible amounts. Higher deductibles can lower your premiums but mean more out-of-pocket expenses in the event of a claim.
- Discounts: Look for discounts that may apply to you. Many providers offer reductions for safe driving, multiple vehicles, anti-theft devices, and more.
- Policy Limits: Review the policy limits to ensure they provide adequate protection against potential losses.
Comparison of Different Insurance Providers in Oklahoma
- State Farm: Known for its customer service and extensive agent network. Offers competitive rates and a variety of discounts.
- Geico: Offers some of the lowest premiums in Oklahoma with robust online tools and mobile apps for easy management.
- Allstate: Provides a range of coverage options with benefits for safe drivers and a reputation for solid customer support.
- Progressive: Known for its “Name Your Price” tool, which helps you find a policy that fits your budget.
Importance of Customer Service and Claims Response
Choosing an insurer with excellent customer service and efficient claims handling is crucial. An insurer that responds promptly and fairly to claims can significantly ease the stress involved in the aftermath of an accident. Here’s why good customer service and claims response are essential:
- Peace of Mind: Knowing that your insurer has a good track record of handling claims quickly offers peace of mind.
- Support When You Need It Most: Efficient customer service means getting support when you need it most, especially after an accident.
- Fair Compensation: Companies with good claims responses are more likely to offer fair compensation for losses without unnecessary delays.
Selecting the right auto insurance in Oklahoma requires careful consideration of your specific needs and comparison of what various insurers offer. Prioritize coverage that not only meets legal requirements but also protects your financial well-being.
Cheap auto insurance in Oklahoma for minimum coverage
Those looking for rock-bottom car insurance premiums are likely to consider just getting the minimum coverage required by the state of Oklahoma. While this will keep you legal on the road, it also leaves you at great risk. Put simply, minimum coverage isn’t likely to go very far in protecting you and your assets in the event of an at-fault accident. Use the table below as a starting point and consider upping your coverage limits or adding new coverage types.Cheapest minimum coverage
| Company | Avg. Annual Premium |
|---|---|
| USAA | $292 |
| GEICO | $308 |
| State Farm | $331 |
| Farmers | $514 |
| Allstate | $606 |
| Shelter | $628 |
| Progressive | $673 |
Cheap auto insurance in Oklahoma with bad credit
Your credit history is an important factor in determining your car insurance rates. Many carriers see those with a poor credit score as being higher risk, meaning you could pay more for your policy. On average, Oklahoma drivers with poor credit pay $1,833 more per year than those with exceptional credit. Have a look at some common rates by credit tier below.Oklahoma bad credit
| Company | Avg. Annual Premium |
|---|---|
| GEICO | $2,199 |
| USAA | $2,297 |
| Farmers | $2,780 |
| Shelter | $2,832 |
| Progressive | $3,556 |
| Allstate | $3,565 |
| State Farm | $7,457 |
Cheap auto insurance in Oklahoma with an at-fault accident
Your driving history plays a big part in how much you pay. Insurance companies look for previous accidents for which you have been at fault to gauge the level of risk you pose as a customer. An at-fault accident in recent years could see your car insurance rates increase to as much as $2,285 per year.
Safe driver discounts
In addition to having a cheaper premium, some companies offer a safe driving discount. While the amount varies based on your company, it can range between 5 and 10%.Oklahoma at-fault
| Company | Avg. Annual Premium |
|---|---|
| USAA | $1,769 |
| State Farm | $1,850 |
| GEICO | $2,522 |
| Farmers | $2,593 |
| Shelter | $3,044 |
| Progressive | $3,052 |
| Allstate | $3,392 |
Cheap auto insurance for young drivers in Oklahoma
Young drivers — aged between 16 and 25 — pay very high car insurance rates, with those aged 16 to 19 paying the most expensive premiums of all. Because of the risk presented by inexperienced drivers, teen drivers pay more than three times the national average for car insurance. In Oklahoma, teen drivers pay especially high rates: $5,333 per year — 235% more than a typical Oklahoma driver.
| Company | Avg. Annual Premium |
|---|---|
| USAA | $3,614 |
| GEICO | $4,406 |
| State Farm | $4,664 |
| Shelter | $6,134 |
| Allstate | $6,757 |
| Farmers | $7,273 |
| Progressive | $7,400 |
Oklahoma auto insurance rate by violation
In Oklahoma, a bad driving record will cause your rates to skyrocket. If you receive a ticket or citation, your auto insurance premiums will probably rise. By how much depends on the violation, your insurer’s pricing standards, and differing local insurance regulations and risks. That’s why tickets may have a different impact on insurance in your state compared to the national average. Car insurance premiums typically increase by 67% after a DUI and up to 28% after a speeding ticket.
See below average auto insurance rates in Oklahoma after a few common citations.Oklahoma violations
| Accident/Violation | Avg. Annual Premium | % Rate Increase | $ Rate Increase |
|---|---|---|---|
| None | $1,899 | 0% | $0 |
| One Med/PIP claim | $1,927 | 2% | $29 |
| One comp claim | $1,939 | 2% | $40 |
| Two Med/PIP claims | $1,946 | 2% | $47 |
| Not-at-fault accident | $1,994 | 5% | $95 |
| Two comp claims | $2,004 | 6% | $105 |
| Failure to show documents | $2,098 | 10% | $199 |
| Driving without lights | $2,145 | 13% | $246 |
| Failure to wear a seat belt | $2,160 | 14% | $261 |
| Driving with expired registration | $2,164 | 14% | $265 |
| Child safety restraint | $2,166 | 14% | $267 |
| Cell phone violation | $2,212 | 17% | $314 |
| Texting while driving | $2,212 | 17% | $314 |
| Driving too slowly | $2,234 | 18% | $335 |
| Speeding in school zone | $2,234 | 18% | $336 |
| Failure to yield | $2,252 | 19% | $353 |
| Failure to stop at a red light | $2,261 | 19% | $362 |
| Following too closely | $2,283 | 20% | $384 |
| Illegal turn | $2,283 | 20% | $385 |
| Wrong way/wrong lane | $2,296 | 21% | $397 |
| Improper passing | $2,308 | 22% | $409 |
| Open container | $2,335 | 23% | $436 |
| Passing school bus | $2,350 | 24% | $451 |
| In 65 MPH zone | $2,365 | 25% | $467 |
| Speeding 6 – 10 MPH over limit | $2,374 | 25% | $475 |
| Speeding 11 – 15 MPH over limit | $2,375 | 25% | $476 |
| Speeding 16 – 20 MPH over limit | $2,380 | 25% | $482 |
| Speeding 21 – 25 MPH over limit | $2,427 | 28% | $528 |
| At-fault accident – less than $1000 | $2,447 | 29% | $548 |
| Operating a vehicle without permission | $2,553 | 34% | $654 |
| At-fault accident – $1000-$2000 | $2,597 | 37% | $698 |
| At-fault accident – greater than $2000 | $2,597 | 37% | $698 |
| Reckless driving | $2,789 | 47% | $890 |
| Racing | $2,994 | 58% | $1,096 |
| Refusal to submit to a chemical test | $3,018 | 59% | $1,119 |
| Driving with a suspended license | $3,019 | 59% | $1,121 |
| DUI | $3,059 | 61% | $1,161 |
| Leaving scene of an accident/hit and run | $3,165 | 67% | $1,266 |
Oklahoma DUI laws
In Oklahoma, a DUI offense can increase your annual car insurance premium to an average of $3,059. That’s 24% more than the national average rate hike after a DUI. Finding affordable auto insurance in the wake of a DUI violation isn’t simple. In fact, a DUI often brings about a bigger premium increase than any single road violation — more than an at-fault accident, racing, or reckless driving.
Low-cost car insurance after a DUI in Oklahoma
If you’re convicted of a DUI or DWI violation in Oklahoma, it’s key to mull over each of your insurance choices carefully. Auto insurance premiums following a DUI can vary substantially by insurer. For example, the least expensive car insurance company with a DUI in Oklahoma, State Farm offers annual rates 32% less than the statewide average insurance rate with a DUI. The second-cheapest insurer for auto insurance after a DUI in Oklahoma is Progressive, while the priciest firm is GEICO, with prices 15% above average.
| Company | Avg. Annual Premium |
|---|---|
| State Farm | $2,074 |
| Progressive | $2,140 |
| Farmers | $2,356 |
| USAA | $2,360 |
| Allstate | $3,250 |
| Shelter | $3,259 |
| GEICO | $3,530 |
Rates by city
Car insurance companies calculate your rate based on many factors, the location of the vehicle being an important one. The cheapest car insurance is found in Dewey, Oklahoma, and the most expensive in Forest Park, Oklahoma.
Have a look at the table below to see average car insurance costs in some of Oklahoma’s biggest cities.Oklahoma cities
| City | Avg. Annual Premium |
|---|---|
| Norman | $1,931 |
| Edmond | $1,931 |
| Broken Arrow | $1,988 |
| Oklahoma City | $2,068 |
| Tulsa | $2,095 |
Car insurance price trends in Oklahoma
In Oklahoma average annual auto insurance costs increased by $46 in the past year. A typical Oklahoma driver pays an average of $1,592 per year.
The recent pricing trend in Oklahoma leans toward slightly pricier car insurance costs than the national average. The steepest decrease occurred from 2015 to 2016, while the highest surge took place from 2016 to 2017. At the same time, car insurance rates across the United States have stayed relatively steady in the past few years, moving from $1,521 in 2018 to $1,529 in 2021.OKLAHOMA CAR INSURANCE RATE TRENDS
| Year | Avg. Annual Premium — Oklahoma | Yearly Change — Oklahoma | Avg. Annual Premium — US | Yearly Change — US |
|---|---|---|---|---|
| 2021 | $1,592 | $46 | $1,529 | $46 |
| 2020 | $1,546 | -$182 | $1,483 | -$61 |
| 2019 | $1,728 | $142 | $1,544 | $23 |
| 2018 | $1,586 | -$210 | $1,521 | $84 |
| 2017 | $1,796 | $234 | $1,437 | $69 |
| 2016 | $1,562 | -$323 | $1,368 | $88 |
| 2015 | $1,885 | $216 | $1,280 | $51 |
| 2014 | $1,669 | $155 | $1,229 | $34 |
| 2013 | $1,514 | -$63 | $1,195 | -$80 |
| 2012 | $1,577 | $323 | $1,276 | $82 |
Cost of Auto Insurance in Oklahoma
Here, we’ll explore the average rates of auto insurance in the state, compare these with the national averages, and provide practical tips to secure the best possible rates.
Average Auto Insurance Rates in Oklahoma
Oklahoma residents typically face varying auto insurance rates based on factors like age, driving history, and the type of vehicle insured. On average, drivers in Oklahoma can expect to pay around $1,500 annually for full coverage auto insurance. For basic liability coverage, the average cost is approximately $470 per year. These figures place Oklahoma among the states with moderately priced insurance premiums.
Comparison with National Averages
When compared to the national average, Oklahoma’s auto insurance rates are slightly higher. The national average for full coverage is about $1,450 annually, while basic liability averages around $450 per year. The slightly higher rates in Oklahoma can be attributed to factors such as the frequency of severe weather events, which can increase the likelihood of damage and claims.
Tips for Getting the Best Rates
To secure the best rates on auto insurance in Oklahoma, consider the following tips:
- Shop Around: Always compare quotes from multiple insurers to find the best rates and coverage options that suit your needs.
- Increase Your Deductibles: Opting for higher deductibles can lower your premium costs, but make sure you can afford the deductible in case of an accident.
- Maintain a Clean Driving Record: A good driving record is essential for lower insurance rates. Avoid violations and claims to demonstrate to insurers that you are a low-risk driver.
- Take Advantage of Discounts: Many insurers offer discounts for things like multiple vehicles, good student performance, and safe driving habits.
- Regularly Review Your Policy: Your auto insurance needs may change over time. Regularly reviewing your policy ensures that you are not over-insured or under-insured and helps keep your premiums optimal.
By understanding the average costs and employing strategic measures to reduce premiums, Oklahoma drivers can effectively manage their auto insurance expenses.
Legal Requirements and Regulations in Oklahoma Insurance
Navigating Oklahoma’s insurance laws is crucial for drivers to ensure they comply with state regulations and avoid penalties. This guide offers a comprehensive overview of legal requirements and the repercussions of non-compliance.
Detailed Explanation of Oklahoma’s Insurance Laws
Oklahoma requires all vehicle owners to carry minimum liability insurance to legally operate a vehicle. The state mandates that liability coverage must include:
- Bodily Injury Liability: Minimum of $25,000 per person and $50,000 per accident. This coverage helps pay for injuries to another person resulting from an accident you cause.
- Property Damage Liability: Minimum of $25,000. This coverage assists in paying for damage you cause to another person’s property.
These requirements are in place to protect drivers financially in case of an accident where they are at fault. It is also essential to note that Oklahoma operates under a tort system, meaning that the driver who is at fault for an accident is responsible for all damages.
Penalties for Driving Without Adequate Insurance in Oklahoma
Driving without insurance in Oklahoma carries significant penalties, which escalate with repeated offenses:
- First Offense: A fine of up to $250, potential jail time up to 30 days, and suspension of your driver’s license.
- Subsequent Offenses: Increased fines, longer jail time, and extended suspension of your driver’s license. Additionally, your vehicle may be impounded.
To reinstate a suspended license after an insurance violation, drivers must provide proof of insurance and pay a reinstatement fee.
How to Comply with Oklahoma’s Insurance Regulations
To comply with Oklahoma’s insurance regulations, follow these steps:
- Purchase Adequate Coverage: Obtain at least the minimum required liability insurance from a licensed insurer.
- Carry Proof of Insurance: Always carry your insurance identification card in your vehicle. Digital proof on a smartphone is also acceptable in Oklahoma.
- Maintain Continuous Coverage: Avoid lapses in your insurance coverage. Lapses can lead to penalties, even if no driving without insurance charge occurs.
- Update Your Policy as Needed: Notify your insurance provider of any changes in your driving status or vehicle ownership.
However, always consult with a licensed insurance agent to ensure your policy meets your specific needs and complies with state laws.
Steps to Take After a Car Accident in Oklahoma
Experiencing a car accident can be disorienting and stressful, but knowing the right steps to take immediately afterward can help ensure your safety and smooth the insurance claims process. Here’s what you need to do if you find yourself in a car accident in Oklahoma.
Immediate Steps to Follow After a Car Accident for Insurance Purposes
- Ensure Safety: First, check yourself and others for injuries. If anyone is hurt, call 911 immediately. Safety is your top priority.
- Move to a Safe Location: If the accident is minor and your car is drivable, move it to the side of the road to avoid blocking traffic and further accidents. Turn on your hazard lights.
- Call the Police: Even for minor accidents, a police report can be invaluable in dealing with your insurance company and other drivers. Oklahoma law requires police to be notified if there are any injuries or significant property damage.
- Exchange Information: Gather the name, address, phone number, driver’s license number, license plate number, and insurance information from all drivers involved. Also, collect contact information from any witnesses.
- Document the Accident: Take photographs of the accident scene, including all vehicles involved, any visible damage, and road conditions. This documentation can provide essential evidence for your insurance claim.
- Do Not Admit Fault: Limit your conversation about the accident with the other driver and do not admit any fault or liability as it might be used against you in the insurance process.
How to File a Claim with Your Insurance Provider
- Notify Your Insurer: Contact your insurance company as soon as possible after the accident. Most insurers offer 24/7 support for claims.
- Provide Detailed Information: When you file the claim, be ready to provide your insurer with as much information as possible about the accident. This includes the date and time, locations, the way it occurred, the degree of damage, and any injuries sustained.
- Submit Necessary Documentation: Send any photos of the accident scene, the police report, and the information exchanged at the scene to your insurer as part of your claim.
- Review Your Coverage: Understand the specifics of your insurance coverage, including deductibles and limits, to know what is covered and what your potential liabilities could be.
What to Expect During the Claim Process
- Claim Assessment: An insurance adjuster will be assigned to your case to evaluate the claim and determine the extent of the insurer’s liability. This may involve inspecting your vehicle, reviewing the accident report, and possibly interviewing witnesses.
- Vehicle Repair and Medical Expenses: Depending on your policy, you might receive guidance on where to get your vehicle repaired. If there were any medical expenses due to the accident, make sure to submit all bills and receipts related to the treatment.
- Resolution: After assessing all the information and damages, the insurance company will offer a settlement. Review the settlement offer carefully before agreeing to ensure it covers all your costs.
- Dispute Resolution: If you disagree with the insurance adjuster’s damage valuation or settlement offer, you can dispute the claim. This might require additional negotiation, mediation, or, in some cases, legal action.
By following these structured steps, you can manage the aftermath of a car accident in Oklahoma more effectively, ensuring your safety and facilitating a smoother insurance claim process.
FAQs About Auto Insurance in Oklahoma
What are the minimum auto insurance requirements in Oklahoma?
In Oklahoma, the law requires drivers to have a minimum of $25,000 in bodily injury coverage per person, $50,000 per accident, and $25,000 for property damage. This is often referred to as 25/50/25 coverage.
Is Oklahoma a no-fault state for auto insurance?
No, Oklahoma is not a no-fault state. It operates under a tort system, meaning the driver who is at fault for an accident is responsible for covering the damages.
What happens if I drive without insurance in Oklahoma?
Driving without insurance in Oklahoma is illegal and can result in penalties including fines, suspension of your driver’s license, and even jail time. The state uses an electronic verification system to keep track of insured drivers.
Are there any discounts available for auto insurance in Oklahoma?
Yes, many insurers offer discounts for a variety of reasons, such as having a good driving record, being a good student, driving a safe vehicle, having multiple cars on one policy, or bundling with other types of insurance.
What should I do if I’m involved in an auto accident in Oklahoma?
If you’re involved in an accident, you should check for injuries, call the police (especially if there are injuries or significant damage), exchange information with the other driver, and notify your insurance company as soon as possible.
How does credit score affect auto insurance rates in Oklahoma?
In Oklahoma, as in many states, your credit score can impact your auto insurance rates. Insurers consider a higher credit score as indicative of responsible behavior, which correlates with fewer claims.
Can I buy auto insurance online in Oklahoma?
Yes, you can purchase auto insurance online in Oklahoma. Many insurers offer online quotes and the ability to purchase a policy directly from their website, making it convenient to get coverage.
Conclusion
Understanding auto insurance in Oklahoma is crucial for protecting yourself and your vehicle in the event of an accident. With a range of coverage options available, from liability to comprehensive plans, it’s important to choose a policy that suits your specific needs and complies with state requirements.
We encourage all drivers to review their current auto insurance policies and consider the insights shared in this guide when selecting or renewing their auto insurance. By doing so, you can ensure that you have adequate protection that reflects your circumstances and budget, ultimately giving you peace of mind on the road.
Remember, the right auto insurance is not just a requirement—it’s a crucial investment in your safety and financial well-being.
References
For further reading and validation of the information provided on Auto Insurance in Oklahoma, the following reputable sources can be consulted. These references offer comprehensive insights and up-to-date data that are essential for understanding the intricacies of auto insurance policies in Oklahoma.
- National Association of Insurance Commissioners (NAIC) – Offers a wealth of data and reports on insurance regulations, including comparisons of insurance policies across different states. Explore NAIC resources.
- Insurance Information Institute – A trusted source for insurance statistics, best practices, and consumer advice, which can help in making informed decisions about auto insurance in Oklahoma. Learn more at the Insurance Information Institute.
- Oklahoma Insurance Department – Provides regulatory information, consumer resources, and detailed guides on various types of insurance policies available in Oklahoma. Visit the Oklahoma Insurance Department.
Each of these resources provides valuable and authoritative information that can assist individuals in making well-informed decisions regarding their auto insurance needs in Oklahoma.
