Recommended Auto Insurance Coverage
If you’re looking for the cheapest car insurance coverage available in Oklahoma, you’ll probably quickly discover that it’s not easy to identify a “recommended” provider. Oklahoma is one of few states that allow insurance companies to develop their own preferred rates for vehicle coverage. Unfortunately, there isn’t a simple way to find out what insurance providers rate as highly as they should. Fortunately, there are a number of online resources that make it easy to identify and compare recommended auto insurance coverage.
A quick search for “Recommended Auto Insurance Coverage in Oklahoma” reveals a number of suggestions. For example, there is a recommendation to purchase no-fault insurance. However, a quick search for “managed care” also brings up an abundance of options. The most obvious difference between no-fault and managed care is that the former offers an automatic stay while the latter requires the driver to opt out of liability coverage. So, which one is the most recommended auto insurance coverage?
According to experts, the most recommended auto insurance coverage in Oklahoma is collision and damage waiver (CD&D). Simply put, CD&D limits the amount of medical expenses you’ll be responsible for paying on your own. If you’ve been in a minor car accident, it’s probably easy to get into a pile of medical bills that you may not be able to pay on your own. A CD&D policy replaces that responsibility with a lump sum payment to cover all medical expenses.
Oklahoma has a couple of other insurance policies that aren’t as popular as minimum, personal injury protection coverage and collision protection. One is catastrophic health insurance. Oklahoma does not have a state-mandated minimum personal injury protection coverage, but many residents still purchase this insurance policy. Catastrophic health insurance policies payout the entire cost of hospital bills and treatment if you become seriously ill or injured due to a car accident, natural disaster, or malpractice. This is the recommended auto insurance coverage in Oklahoma.
Another recommended auto insurance coverage in Oklahoma is property damage liability. Property damage liability covers damage to another person’s vehicle that you cause during an accident. In order to get the maximum payouts from this policy, you may want to include bodily injury and property damage as covered items in your car insurance policy. Just make sure that your car insurance company provides this type of coverage. Even if they don’t offer it, your auto insurance agent may be able to add it for you at a nominal cost.
Some people prefer comprehensive coverage. This type of coverage pays for both physical damage and personal property damage that you cause to someone else’s vehicle. Basically, the more it pays for, the more expensive your premiums will be. However, if you can afford the premiums, it can help pay for your rental car expenses should you ever need to use one. In addition, if you own a boat, this coverage will help pay for damages to it should it be damaged or stolen.
Another type of coverage that you may want to consider taking advantage of is rental reimbursement coverage. If you or one of your passengers are injured in an accident while renting a vehicle, you can get your expenses covered. This coverage usually covers you if your rented vehicle is totaled out, you are injured in a traffic mishap, or your rental vehicle is damaged in a flood. (Flood damage is especially important to take into account if you live in an area that may experience flooding more than once during a year.) It doesn’t matter what caused the accident, just that you were injured and that someone had to be taken care of.
Perhaps the most important type of insurance that you need to have is liability coverage. This part of your insurance protects you if you hit another vehicle, or someone in the other vehicle, with a car. Full coverage insurance pays to repair or replace your vehicle, and pays for any medical bills or property damage you may incur as a result of being hit by another vehicle, rider, or object.