Oklahoma Auto Insurance Laws, Minimums, Requirements

What mandatory auto insurance laws exist in the state of Oklahoma?

• In the state of Oklahoma, all drivers must carry at least the minimum liability coverage of $25,000 for injury or death of one person, $50,000 for injury or death of two or more persons, and $25,000 for property damage
• When operating a motor vehicle in the state of Oklahoma, you must carry proof of insurance at all times.
• If you are caught driving without insurance, you may be fined up to $250 or you may be sentenced to thirty days in jail, or both. You also face suspension of your driver's license and vehicle registration if you fail to comply with Oklahoma minimum insurance law or if you fail to produce proof of insurance to a police officer or public safety representative upon request.

What is the Minimum Liability Coverage (Bodily Injury amounts per person, per accident, and property damage amounts):

If you buy automobile insurance in Oklahoma, your policy must include minimum liability coverage of:

$25,000 for injury or death of one person,
$50,000 for injury or death of two or more persons,
and
$25,000 for property damage

What are the Rental Car Insurance Requirements?

In the state of Oklahoma it is illegal to operate a motor vehicle without insurance, this includes rental cars. Rental cars must carry the minimum liability coverages required by Oklahoma law. It is important to keep in mind that most Oklahoma auto insurance policies include car rentals. Most credit cards cover car rentals as well, so be sure to check your auto insurance policy and/or check with your credit card issuer. If you find that your credit card and/or auto insurance policy do not cover rental cars, you must purchase car rental insurance from the car rental company. It typically costs an extra $7-$14 a day.

What are the rules pertaining to Uninsured/Underinsured Motorist Coverage?

Uninsured/Underinsured Motorist Coverage is not required in the state of Oklahoma. Because Oklahoma is a Tort state, most insurance companies recommend that driver’s consider carrying higher coverages than the state minimums. 

What are the rules pertaining to the exclusion from coverage of a driver living in household?

In the state of Oklahoma, auto insurance companies can write policies that exclude household members. These exclusions are listed in the exclusions section of the policy, which also includes a list of all possible circumstances that would free the insurance company from the responsibility of paying a claim. It is important to examine your auto insurance policy carefully before signing on the dotted line.

What are the rules regarding whether a driver has prior insurance? That is, how does state law handle it if a driver has no prior insurance or has let their previous insurance lapse?

Lapsed insurance in the state of Oklahoma is the same as driving without insurance. If you are caught driving without insurance, you may be fined up to $250 or you may be sentenced to thirty days in jail, or both. You also face suspension of your driver's license and vehicle registration if you fail to comply with Oklahoma minimum insurance law or if you fail to produce proof of insurance to a police officer or public safety representative upon request. In the state of Oklahoma, auto insurance companies also frown upon lapsed insurance. It is legal for Oklahoma insurance companies to impose a rate increase for lapsed insurance, regardless of the cause for the lapse.

What are the rules and guidelines auto insurance companies must follow regarding the use of Personal Credit History in selecting applicants and setting rates?

In the state of Oklahoma, auto insurers are permitted to use Personal Credit History to help determine which products they will offer as well as rates. Your Personal Credit History may also be used to determine whether you will be making monthly or quarterly payments or if you will be required to pay the entire premium upfront. Personal Credit History is also used to create an “insurance risk score.” This score also helps determine your auto insurance rates. In order to enjoy a lower insurance premium, pay your bills on time in an effort to improve your score. This will also help improve your credit history so that in the long run, you can save money on your car insurance premium. That said, Personal Credit History is not the only assessment tool Oklahoma auto insurance companies may use. They also consider age, gender, where you live, car make and model, how much you drive, and driving record.

Is the state a No Fault or Tort state? What does either mean to the policy owner?

The state of Oklahoma follows a Tort System. What this means is, if you are involved in an accident, someone must be found to be the cause or fault of the accident. The person deemed at fault is responsible for all damages. Damages are usually handled through the at-fault person's insurance company. Because Oklahoma is a Tort state, most insurance companies recommend that driver’s consider carrying higher coverages than the state minimums. 

What is the average auto insurance premium in this state? As of what year?

As of 2006, Oklahoma resident’s average insurance premium was approximately $659 the 38th most expensive in the nation. This was down 2.9% from the previous year. The national average was $817.

Sources

Insurance Information Institute

Oklahoma Insurance Department

	OK Premium	$ Change	% Change	National Avg	$ Change	% Change
Jul	$152	$2	1.3%	$151	$1	0.7%
Jun	$154	$4	2.7%	$150	$2	1.3%
May	$150	$6	3.9%	$149	$2	1.3%
Apr	$156	$2	1.3%	$151	$1	0.7%
Mar	$158	$4	2.6%	$152	$0	0.0
Feb	$154	$1	0.7%	$152	$2	1.3%
Jan	$153	$1	0.7%	$153	$2	1.3%

Insurance Rate Examples for Oklahoma