If you're an Oklahoma resident looking for insurance, InsureMe.com is the right place. Oklahoma is a tort state, which means drivers are held financially responsible for the property damage and personal injury they cause. The degree of fault documented by each driver's insurance company determines the amount of money each party must contribute toward the resulting costs. This is known as comparative negligence.
State law requires car owners and drivers to carry either an owner's policy or a non-owner's policy in order to prevent any lapse in car insurance coverage. However, the state requires only liability coverage, which protects you against costs incurred when you damage or injure someone else or their property.
Minimum amounts you must carry include $25,000 bodily injury per person; $50,000 per accident and $25,000 property damage. However, most insurers strongly recommend you carry more than these basic minimums.
If you are involved in an accident with an uninsured or underinsured motorist, you will need additional coverage to take up the slack, providing you monetary provision where the other driver's insurance does not. That’s where other options come in, such as uninsured motorist (UM) and underinsured motorist (UIM). The two come packaged together in this state, and may be purchased in either an amount equal to, or less than, the minimum level of bodily injury coverage mandated by the state.
Insurance rates must equitably reflect differences in expected losses and expenses. Since statistics show that more young male than female drivers are involved in accidents resulting in auto insurance claims, they’re a higher risk to insurers. Although the gap between these two groups is closing, for now young males are still more likely to pay more for car insurance.