When It Comes to Car Insurance, More Is Always Better

Almost every state in the country requires car insurance; Oklahoma is no exception. And like those other states, Oklahoma requires that drivers purchase a minimum amount of coverage so that there is some recourse for help in the event of a crash.

Of course, not everyone follows the law. Glen Mulready, the Commissioner of the Oklahoma Insurance Department, told 2 News Oklahoma that about 13% of drivers here are uninsured. That means if you’re injured by one of these drivers, you may need to turn to your own insurance for help; if you’re uninsured, or if you have insurance, just not the right types of coverage, you may end up with nothing. These are just a few of the reasons why we believe you can never have too much car insurance – even when you’re an excellent driver.

What is the minimum car insurance coverage in Tulsa, OK?

According to the Oklahoma Insurance Department, drivers are required to have at least 25/50/25 insurance coverage. This means that if you have the minimum car insurance coverage, your policy will pay up to $25,000 per person for bodily injuries, $50,000 for all individuals injured per accident, and $25,000 for property damage per accident. Although some states do have lower minimum insurance coverages, these numbers are still low when considering all the potential costs and expenses that can accumulate from a serious or catastrophic car crash.

For example, if a liable driver only has the minimum insurance coverage and is involved in a collision that injures five other people, the insurance company will only pay $50,000 for these five people who were injured. Split evenly that comes out to $10,000 per person, which is not much for severe and life-threatening injuries.

What add-ons should you consider when purchasing car insurance?

When it comes to car insurance, more is always better. The following are some of the add-ons you should consider:

• Uninsured motorist coverage: Uninsured motorist coverage provides compensation for you and your passengers who suffer injuries caused by an uninsured driver. If you are struck by a driver who does not have any insurance, you can use your uninsured motorist coverage to help pay for your expenses. This type of car insurance coverage is also beneficial if you are involved in an accident with a driver who flees the scene. Oklahoma is unique in that uninsured motorist coverage and underinsured motorist coverage, which is insurance that triggers when the at-fault party doesn’t have enough insurance, are one and the same.  Most states require you to buy both uninsured and underinsured if you wish to be protected against both scenarios.
  • All policies offer this coverage, but folks often waive it because doing so will lower their premiums. We strongly recommend that you keep this coverage, and that you purchase as much as you can within the boundaries of your policy.
• Medical payments: Medical payments coverage, also known as MedPay, covers reasonable medical costs from a car accident. If you have this type of coverage, it will kick in and help you cover your and your passengers’ medical expenses no matter who was at fault for the crash. MedPay isn’t subject to subrogation, either.
• Rental reimbursement: Rental reimbursement will help you pay for a rental car while your vehicle is being fixed.
• Towing & labor: When you are involved in a serious collision, there is a strong chance that you may need to call a towing company to pick up and move your vehicle. If you have towing and labor insurance coverage, your insurance company may pay for a towing company to handle this for you.
  • Depending on what your add-on includes, your insurance company may also pay for a business to unlock your vehicle, change your tire, or even jumpstart your battery when needed.
• Excess electronic equipment: If you have a nice radio or speakers in your car, you should consider getting the excess electronic equipment add-on. This type of coverage helps you cover the cost of replacing or repairing your electronic equipment.

Common car insurance coverage myths

Myth: Your car insurance will automatically provide coverage if you are in an accident with an uninsured driver.

Truth: Your car insurance policy will not automatically provide coverage for this type of situation. Instead, you must add uninsured motorist coverage to your policy.

Myth: The minimum coverage amount is all you need.

Truth: While the minimum coverage is required by law, it is not all you need if involved in a serious accident. Even minor accidents can result in costs much higher than the minimum coverage amount. Therefore, you should strongly consider adding more coverage than the minimum.

Myth: The type of car a person owns does not affect their car insurance cost.

Truth: The type of car you own does affect the cost of your car insurance. If you drive a car that the insurance company thinks may be at higher risk of speeding or aggressive driving, your car insurance premium will likely be higher. Sometimes, even the color of your vehicle can raise your premium rates.

Even if you are a safe driver with no tickets or accidents on your driving record, it is a smart idea to purchase add-ons. It does not matter how carefully and cautiously you drive; you cannot predict what mistakes or errors other drivers will make. Additional coverage can give you peace of mind while behind the wheel.

At Biby Law Firm, our Tulsa car accident attorneys have years of experience helping clients recover compensation after car accidents. Whether you need help communicating with your insurance company or were injured by an uninsured driver, we are ready and available to assist you. Please call our office or complete our contact form for a free and confidential case review today.