What is the state minimum requirements for car insurance?

The state minimum is 25/50/25.  What this means, is if you were to get into an accident and it be your fault, the insurance company would be obligated to pay to the other party 25,000 towards bodily injury per person, up to 50,000 collectively for everyone in the other vehicle.  It would also cover up to 25,000 for property damage.

How much insurance do I need?

Everyone's situation is different.  While it certainly isn't recommended for somebody with a lot of assets to only carry the state minimum's, it might be more appropriate for another person.

I've prepaid my car insurance for 6 months but want to switch companies.  Can I get that money back?

Yes.  Upon purchasing new car insurance you can call and cancel your old policy and a refund.  Check your previous companies cancellation guidelines but the majority of companies will let you cancel with no penalty.

How long is a ticket or claim on my record?

3 years

What does uninsured motorist coverage mean?

In Oklahoma, uninsured motorist coverage would pay towards medical bills in the event that an uninsured motorist hit you and was at fault.  It would also pay out if your medical bills exceeded the amount of liability they carried on their policy.  It does not pay for your vehicle.

What's the difference between comprehensive and collision?

Comprehensive, sometimes reffered to as other-than-collision, would pay for your damaged auto due to hail, theft, etc.  Collision covers when you collide into someting.  You can have two different deductibles for these.  Collision coverage is usually the most expensive part of the policy.  So what some people do to help save money, is have a low comprehensive deductible and a high collision deductible.  i.e. - $100 comprehensive deductible, $1,000 comprehensive deductible.

What is some discounts available on my car insurance?

While every car insurance company is different, some common ones are:  drivers education, homeowner, short mileage, anti-lock brakes, alarm system, keyless entry, onstar, and accident prevention courses.

What does medical payments cover?

Medical payments will pay anyones medical bills up to the limits on the policy, no matter who's fault the accident is.

My house is only worth $130,000.  Why do I have to insure it for $165,000?

Although you're house may only be worth $130,000 in today's economy.  If your home was to burn down, chances are it would be much more to rebuild it.  Insurance companies have to factor in the cost to demolition it and build it from the ground up.

How long can home clams effect my insurance rates?

5 years

I haven't had a claim but my insurance just went up.  Why is that?

Insurance companies look at their loss/profit ratio statewide.  So if that state takes a big hit, chances are the insurance premium will rise.

We've seen that a lot here in Oklahoma recently with all the big hailstorms.  It seems like no matter what neighborhood you are in, somebody is getting a new roof put on.  With all these claims being paid out, it does come with a few consequences.

My escrow account on my mortgage pays my home insurance.  Can I switch mid-year?

Yes.  This is commonly mistaken that the only time you can switch your home insurance out is on renewal.  If you switch mid-year, the previous insurance carrier will either cut you or your mortgage company (usually you) a check for the unused premium.  When you recieve this check, forward it to your escrow account so you won't be short in it.  It's actually a very simple process.