In Oklahoma, as in many other states, the only mandatory car insurance required under the law is liability coverage. Every driver should have a policy, but there are thousands of people who don’t have active coverage.
Uninsured drivers are a real risk on the road, but underinsured drivers are a much more prevalent threat. For every driver who doesn’t have any insurance, there are likely several drivers who do not have enough coverage.
Depending on your policy and what happened during the crash, you may be fully dependent on the other driver to cover your lost wages and hospital bills, along with the cost to fix your vehicle.
Why their coverage may not be enough
Drivers in Oklahoma currently only need $25,000 in property damage protection. They need to have another $25,000 worth of bodily injury liability protection with a maximum amount of $50,000 of protection for a single crash even if multiple people suffer injuries. These mandatory coverage levels are far below what the average crash might cost.
The state of Oklahoma readily admits on its own website that a better minimum is at least $100,000 each of property damage and bodily injury coverage with a maximum policy limit of $300,000 or more. Unfortunately, there are many drivers out there who will focus more on keeping their costs low than on protecting themselves and others in the event of a crash. What happens when the driver who hurts you has a very low policy limit?
Your options include court and your own coverage
Unless you want to cover those crash costs with your own financial resources, you will need to look at your options. If you have a better insurance policy, your underinsured motorist protection could help, as could collision coverage.
If your policy doesn’t offer much supplemental support, then you may need to look into a personal injury lawsuit. Those hurt in crashes can often take action against the driver at fault for the wreck. In certain situations, there could be a third party with some liability, such as a business that served alcohol to a minor or a company that produced a defective vehicle component.
Understanding the basics of Oklahoma Insurance will help you handle the financial consequences of a recent car crash.