A GUIDE TO DEALING WITH
AUTO INSURANCE
& ACCIDENTS
BODILY INJURY LIABILITY protects you against a claim which
is made by someone who has been injured in an auto accident
for which you are found liable.
PROPERTY DAMAGE LIABILITY protects you against claims
for damages to another vehicle or property in an accident for
which you are found liable.
MINIMUM LIABILITY LIMITS FOR OKLAHOMA are 25/50/25.
The rst 25 means the policy will pay up to $25,000 in bodily
injury for any one person per accident. The 50 means that the
policy will pay up to $50,000 for all persons injured per accident.
The third number in the 25/50/25 means that the policy will
pay up to $25,000 per accident for property damage.
REQUIRED BY LAW
VEHICLE LIABILITY COVERAGE
REMEMBER
25/50/25 is the minimum coverage that Oklahoma Law allows
you to carry on your car in order to legally drive in Oklahoma.
However, if the cost of any bodily injury or damage exceeds the
25/50/25 liability limits, the amount over these limits would be
your responsibility to pay.
Consult your insurance agent to discuss your liability coverage limits, and whether or
not it would be benecial for you and your family to increase your limits in order to
protect your assets in the event of a loss that would exceed the 25/50/25 liability limit
COVERAGE
OPTIONAL
UNINSURED MOTORIST (UM)
UM pays you, resident members of your family, and occupants
of your auto for personal injuries caused by an uninsured or
underinsured motorist, or a hit and run driver.
Uninsured Motorist coverage is not required by law; however,
the law does require you to reject this coverage in writing if
you do not want it.
UM COVERAGE DOES NOT COVER YOUR PROPERTY
MED PAY
This coverage provides medical assistance and funeral
expenses to you and your resident relatives for any injuries
sustained from, in, on or around a motor vehicle. It will also
provide medical assistance and funeral expenses for any
person occupying your vehicle.
THIS COVERAGE IS APPLICABLE REGARDLESS OF FAULT
OR LIABILITY.
Oklahoma law requires that any person who licenses
and/or operates a motor vehicle show proof of
nancial responsibility in one of these ways:
• Vehicle Liability Insurance - Most Oklahomans will show
nancial responsibility with car insurance (Vehicle Liability
Insurance)
• A certicate issued by the Oklahoma Department of Public
Safety, showing that the certicate holder has deposited
at least $75,000.00 in cash or in a CD, with DPS.
• For owners of 25 or more automobiles, a certicate of self
insurance issued by the Department of Public Safety.
LAW
DAMAGES
THE
PHYSICAL
OTHER OPTIONS
• Towing and Labor Cost
• Rental Reimbursement
• Accidental Death Indemnity
• Special Disability Benets
COLLISION Coverage pays
for damage to your vehicle
for a collision accident no
matter who is at fault.
Coverage pays for damage
to your vehicle caused
by something other than
collision.
COMPREHENSIVE
IN AN AUTO ACCIDENT
WHAT TO DO IF YOU ARE
STOP
Try not to block trafc.
If anyone is injured and call the police to
report the accident.
admit liability to anyone or accept claim
settlement.
any loss to your insurance agent or
insurance company and le a Motor
Vehicle Accident Report as required by
state law Send a copy to your insurance
agent or insurance company.
by recording the facts, taking pictures
of the accident and surrounding area,
as well as independent witness contact
information if possible.
CALL 911
DO NOT
REPORT
GET
INFO
Contact your insurance agent for more information on
additional coverages provided by your auto insurance
company, which may be benecial to you and your family.
AUTO INSURANCE CLAIMS
FAQ’s
Repairing your vehicle with ‘ like kind and quality parts’:
When your vehicle is being repaired following an accident, an insurance
company’s limit of liability is the actual cash value of the property or
damaged part of the property at the time of the loss. Putting brand new
parts on an older vehicle would result in betterment, which is not the
intention of the policy. If you still insist on new factory parts, the company
will likely require that you pay the difference between the new parts and
the “like kind and quality parts”.
The insurance company’s estimate for the repair of your vehicle is
too low.
The company would owe the least amount necessary to return your
vehicle to pre-loss condition. The correct procedure is to take your vehicle
to the repair shop of your choice and provide the adjuster’s estimate. If
additional damages related to the accident are found, you should contact
the adjuster regarding a supplemental payment.
A First Party Claim is when you are ling a claim against your insurance
company. A Third Party Claim is when you are ling a claim on another
person’s policy.
If another person was at fault in the auto accident, you can still g through
your insurer if you have collision coverage. Doing this will not affect your
rates because Section 941 of the Oklahoma Insurance Code says that a
company cannot assign driving record points, cancel, refuse to renew
or increase the premium rate for any motor vehicle liability or collision
insurance policy for the reason that the insured has been involved in a
motor vehicle collision and was not at fault
AUTO INSURANCE CLAIMS
FAQ’s
...continued
The insurance company for the at fault party should provide you with a
replacement vehicle while your car is being repaired. If your car is a total
loss, the company will generally provide the replacement vehicle until
a settlement offer has been made on your car. However, the insurance
company is not required by law to provide a replacement vehicle to you.
On the other hand, if the accident was your fault & you will be ling a claim
under your auto policy, a replacement car will not be provided unless you
purchased rental reimbursement coverage.
If The Vehicle Is A Total Loss:
Auto insurance provides coverage on an actual cash value (ACV) basis, which
means that the company owes the ACV at the time of the loss. According to
state law, such cost may be determined by: the cost of a comparable motor
vehicle in the local market area when a comparable motor vehicle is available
in the local market area, one or two or more quotations obtained by an insurer
from two or more qualied dealers located within the local market area when a
comparable motor vehicle is not available in the local market area, or the cost
of a comparable motor vehicle as quoted in the latest edition of the National
Automobile Dealers Association Ofcial Used Car Guide or monthly edition of
any other nationally recognized published guidebook.
If you have a third party injury claim, please note that concerning the payment
of incurred medical expenses, there are no statutes requiring payment as the
bills are incurred. Therefore, the insurance company may elect to wait until the
injured party is ready to settle and include reimbursement for these bills in the
nal settlement check.
YOU HAVE THE RIGHT TO REPAIR YOUR VEHICLE AT THE
REPAIR SHOP OF YOUR CHOICE
FILING A CLAIM
WHEN YOU ARE
Contact your insurance agent or insurance
company to le the claim.
Keep a log of claim activity (for example, for
a telephone call, write down the name of the
person you speak with, the date and time of the
call, as well as what the call was concerning.)
Remember that the Consumer Assistance
Division of the Oklahoma Insurance Department
is here to answer any questions you have
concerning the handling of your claim.
THINGS TO REMEMBER
www.oid.ok.gov | 1.800.522.0071
400 NE 50
th
Street, Oklahoma City, OK. 73105
The Oklahoma Insurance Department is responsible for enforcing the
insurance-related laws of the state. We protect consumers by providing
accurate, timely and informative insurance information. We promote a
competitive marketplace and ensure solvency of the entities we regulate
including insurance producers and adjusters, funeral directors, bail
bondsmen & real estate appraisers.
More than $13 billion in premiums are written in Oklahoma annually. OID
collects more than $150 million in premium taxes, which provides funding to
the Fireghters Retirement System, the Police Retirement System, the Law
Enforcement Retirement Fund as well as the State’s General Revenue Fund
