Oklahoma Auto Insurance Guide

Whether you’re in Oklahoma City to pay your respects at the National Memorial or to watch The Thunder shoot at Ford Center, cheering on the Sooners in Norman, boating on Lake Chickasee, golfing in Broken Arrow, getting a history lesson at the Potawatomi Tribal Museum in Shawnee or visiting the Oklahoma Music Hall of Fame in Muskogee, there’s plenty to see and do in the Sooner State. From Altus to Bartlesville, Shattuck to Sapulpa and all points in between, car insurance is crucial to being a responsible Oklahoma driver.

 

Auto Insurance Resources for OK State Residents

As of 2010, there were nearly 2.5 million licensed drivers in the Sooner State. The Insurance Research Council estimates that 24% of Oklahoma drivers are uninsured, one of the highest rates in the nation! The Oklahoma Department of Public Safety reports that there were 72,667 traffic accidents in 2008; 673 were fatal. In 2008, more crashes occurred in October than any other month; most occurred between 3 p.m. and 6 p.m. and more accidents (12,353) happened on Fridays than any other day of the week. Alcohol and speeding were among the leading contributing factors. Uninsured, alcohol-impaired and reckless drivers are good reasons to make sure you have enough car insurance while living and driving in the Sooner State.

 

Oklahoma State Minimum Car Insurance

Oklahoma state law requires you to carry a minimum amount of car insurance or face severe penalties. The Sooner State has a tort-based system. That means if you cause an accident, you can be sued. While Oklahoma does not require you to carry Uninsured/Underinsured Motorist coverage, additional personal liability or Collision and Comprehensive, if you own property or other valuable assets, you would be wise to supplement the minimum requires shown below:

• $25,000 bodily injury per person per accident
• $50,000 bodily injury for all persons per accident
• $25,000 property damage liability

 

Oklahoma Car Insurance Laws

Oklahoma law requires that you carry proof of Oklahoma auto insurance in your vehicle and produce it if a law enforcement officer asks to see it. Driving without car insurance in Oklahoma is a misdemeanor and carries a fine of $250 and/or jail time up to 30 days for a first offense if no accident was involved. You will also be subject to suspension of your driver’s license and vehicle registration. The suspension remains in effect until you present proof of car insurance and pay reinstatement fees of $30.

If you are involved in an accident and cannot produce proof of financial responsibility within 10 days, you will be fined $334, and your license and the registration of all vehicles in your name will be revoked. Get caught driving with a revoked registration and the penalties are the same as driving without insurance. The suspensions remain in effect until you present proof of insurance and pay the required fees.

 

Regulating Agency and References

Oklahoma Insurance Department
This agency is responsible for regulating vehicle insurance policies sold in Oklahoma. For more information, visit their website at www.ok.gov/oid

Oklahoma Department of Public Safety
This is the agency responsible for licensing drivers and registering vehicles. You can learn more about Oklahoma auto insurance requirements, penalties and related information at www.dps.state.ok.us/dls

National Association of Insurance Commissioners (NAIC)
This is an organization of insurance regulators from the 50 states, District of Columbia and the five U.S. territories. NAIC provides a forum for the development of uniform policies when appropriate. NAIC members are elected or appointed state government officials who regulate the conduct of insurance companies and agents in their respective states or territories. Visit NAIC at www.naic.org

Insurance Information Institute (III)
This organization’s mission is to improve public understanding of insurance – what it is and how it works. Visit III at www.iii.org/

 

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