Owning a car is a huge decision, one that comes with several other considerations, an important one being insurance coverage. While some people decide to own a car without thinking twice about insurance policies, you should understand that such a nonchalant attitude can cost you more, especially in the case of a car accident.
While you don’t want to fall into the camp of drivers who do not have insurance coverage, you also should not find yourself in the camp of those who do not have as much coverage as they thought.
To ensure your protection, the team of car accident attorneys at OKC Injury Lawyers have put together a guide that will help you in choosing an insurance policy or review your existing policy to ensure that it meets your needs.
AUTO INSURANCE REQUIRED BY OKLAHOMA LAW
Vehicle registration in Oklahoma cannot be completed until you meet a certain minimum level of liability insurance. This insurance is required to pay for any harm in the form of property damage or bodily injury caused to another road user.
The Oklahoma law requires that a vehicle owner’s insurance cover the following at a minimum;
– $25,000 for property damage per accident
– $25,000 for injury or death per person
– $50,000 for injury or death per accident
This insurance is put in place to cater to the needs of other people, should you be at fault in a car accident case. However, you may purchase additional protection for yourself to cover car damages, lost income, medical bills, and other losses.
OPTIONAL AUTO INSURANCE
Oklahoma law only requires you to have liability coverage. If you have been involved in an accident caused by another person, you will be required to file a claim through the at-fault party’s liability coverage to account for the losses you suffered. However, you may choose to buy additional coverage that protects you in the case of an accident.
UNINSURED MOTORIST COVERAGE
Uninsured Motorist Coverage (“UIM”) is offered by many insurers; however, you may choose to decline it. Having this insurance coverage protects you in the case of bodily damages caused in an accident with an uninsured driver being the at-fault party.
With uninsured motorist coverage, you can rest easy knowing that you will not be left hanging after your involvement in an accident with an uninsured motorist.
UNDERINSURED MOTORIST COVERAGE
Many people try to save money by carrying only the minimum amount required by the Oklahoma law in liability coverage. With the rising cost of medical care, the minimum amount carried in liability coverage by the at-fault motorist may be less than enough to compensate you for the damages you suffered. Underinsured motorist coverage, however, steps in and fills that gap, ensuring that you aren’t left stranded; paying for expenses and medical bills that insurance should cover.
COLLISION AND COMPREHENSIVE COVERAGE
Collision coverage caters to the damages caused to your car in an accident, irrespective of who’s at fault. Comprehensive coverage, however, caters to the cost of repairs resulting from other factors that are not accident-related.
While these coverages are optional, it may be a good idea to have them in place as one covers damages resulting from an accident and the other, non-accident related damages.
MEDICAL PAYMENTS COVERAGE
Also known as Med Pay coverage, this covers a limited part of your medical costs after you have been involved in a car accident. This insurance coverage kicks in regardless of the at-fault party and may help cover the earliest medical bills encountered in the aftermath of your accident.
CONTACT OKC Injury Lawyers: OKLAHOMA FIERCE ADVOCATES
We focus on ensuring that your rights and interests are protected. Our team is dedicated to Fierce Advocacy for accident victims and will fight to protect your interests and uphold your rights.
Founder John Cannon has been recognized as a Super Lawyer and Top 40 under 40. Contact OKC Injury Lawyer by completing the contact form at the bottom of this page, or CALL at 405-972-8134 for a free confidential case evaluation.