If you own a vehicle or know someone who owns a vehicle, you should be familiar with the concept of auto insurance. There is actually nothing much complicated to it and one can have good auto coverage with actually very little research. Additionally, it is binding by law to have auto insurance and illegal to operate a motor vehicle without one. Hence, it is not only sensible but also necessary to have auto coverage if you drive. Thus, it is in your best interest to have auto insurance that works out for you, both in terms of money as well as the coverage that it offers.
The first part of the coverage that is absolutely required by the law is liability. Regardless of what auto insurance you might go in for, liability is a feature that it should have. Liability refers to bodily injury liability as well as property damage liability. In Oklahoma, the minimum liability for bodily injury stands at $25,000 for injury or death of a single entity and at $50,000 for injury or death of two or more individuals. Property liability is equal to $25,000 at the very least. These three figures are the lowest amount that you need to have, and it is possible to have more than that as well if you want.
The next coverage that the law specifies you to have is the medical payments coverage. Since it is unfair for only the driver to have coverage in case of an accident, it is necessary to ensure that even the passengers in the vehicle are covered by some sort of insurance and need not have to wait to get reimbursed for their medical treatments. By law, one should use a policy that has at least basic coverage for the passengers. Some policies even provide reimbursements for wages lost due to the injury arising from the accident.
Oklahoma state also requires drivers to have are underinsured coverage and uninsured coverage of the motorist. In case you are involved in an accident where the other party has no liability coverage, then your uninsured coverage will take over and cover your expenses. Similarly, when you are in an accident due to a fault of the other motorist, underinsured coverage will ensure that you get compensated for the damage if it is in excess of what the other motorist’s insurance provides. Only a few states have a necessity for these conditions, one of them being Oklahoma.
In addition to the coverage listed above, you can also have additional options in case you require it and are willing to pay for the higher premium. Having features like comprehensive coverage will ensure that the insurance issues a pay out in case your car gets damaged due to reasons that cannot be established. This is often in case of natural calamities or even simple vandalism. Collision coverage is another option wherein the repair of your car is paid for in case you were in an accident that you were at fault for. This is an option that newer cars ought to have, to ensure that you don’t end up footing large bills due to an early accident.