Typical Oklahoma Insurance Coverage

Description of Typical Coverages in an Oklahoma Automobile Insurance Policy

The coverages described below are the major coverages that you may have purchased when you purchased your automobile insurance policy. These coverages are widely available in Oklahoma. There are some other coverages that are occasionally available that might be in your policy, but you have to read your own individual policy to learn exactly which coverages you did purchase. States other than Oklahoma have similar coverages, but, due to the individual state regulations and statutes, there is substantial variance. The descriptions below were written to describe the essence of the type of coverage. They were also written from the point of view that you were involved in an accident while driving the vehicle insured by the policy. Some of the coverages described below would apply even if you were not an occupant of your own vehicle at the time of the accident, depending upon the exact coverage and the policy terms. The following explanations are general guidelines, not legal advice for any particular claim or situation.

LIABILITY COVERAGE is the coverage you purchase to protect you from any claim or suit filed against you for an automobile accident that is claimed to be your fault. The purpose of liability coverage is for the payment of any judgment rendered against you up to the policy limits you elect to purchase. The coverage can also be used for settlements before any judgment is rendered against you. This coverage is to protect your assets. Liability coverage also requires that the insurance company hire attorneys to defend you for any suit that is filed against you as a result of an automobile accident to which the policy applies.

UNINSURED MOTORIST COVERAGE is the coverage you purchase to protect you from damages arising from bodily injury resulting from an automobile accident caused by someone who did not have insurance or did not have enough insurance to cover your damages. This coverage only applies to damages relating to bodily injury and does not apply to property damage. If you are at fault in the accident by more than 50%, then you cannot recover under this coverage.

MEDICAL PAYMENTS COVERAGE is the coverage purchased to pay for medical expenses incurred as a result of an automobile accident. This is a no-fault coverage and applies regardless of whether you were a driver, a passenger or a pedestrian if you are involved in an automobile accident. This coverage pays your reasonable medical expenses up to the amount of your policy limits even if you were at fault.

COLLISION COVERAGE is the coverage to cover damages to your car whenever it is involved in an accidental collision. It pays for your property damage subject to your deductible. It is a no-fault coverage and applies when there is an accidental collision involving your vehicle.

COMPREHENSIVE COVERAGE is the coverage to protect you from loss to your vehicle from anything other than collision, such as theft, hail, etc. Some policies cover collision with animals or objects under this coverage. This is a no-fault coverage and applies for any loss to the vehicle from anything other than a collision. It pays the damages less the deductible. Usually, glass breakage is excluded, but coverage for glass breakage may be sold as a separate coverage.

RENTAL COVERAGE is a type of coverage that you purchase to pay for a rental vehicle in the event that your vehicle is damaged or destroyed as a result of an accident, hail storm, theft, etc. This coverage typically provides a specified amount per day that the insurer will pay you to rent a vehicle. There is also a limited number of days that will be covered depending upon the coverage you purchase. This coverage goes by many different names and designations in policies issued by different companies. You simply have to look at your own policy to see if you have this kind of coverage.