Most states, if not all by now, require drivers to have a minimum liability amount of auto insurance. You can have the cheapest car insurance you can find in Oklahoma City or any of the areas surrounding it like zip codes 73003, 73010, or 73099. But you must have the minimum amount required by state law.
What happens if you don’t have liability? Well, in addition to your financial responsibility to anyone you have a wreck with that’s your fault, you could also lose your license, your vehicle could be impounded, and more. The state of Oklahoma has one of the highest level of non-insured drivers in America. That means, if you’re in the zip code of 73019, 73026, 73110, or 73117, not only are you at risk of having an accident, but at risk of losing your financial stability for years to come.
So are you going to be okay with having the cheapest car insurance possible of basic liability that meets the state’s requirement? Absolutely not! If you’re being cost conscious, you can be sure that other drivers are too and thus, if all they have is minimum liability, then that is the most they’ll pay you if the accident is their fault.
Uninsured or underinsured drivers leave us with consequences when they have only what the cheapest auto insurance provides to meet the law’s requirements. That minimum is usually in the amount of $10,000 which won’t come close to paying all of the medical bills, time off work, and getting your car repaired or replaced.
As you shop for cheap car insurance, ask about the uninsured and underinsured coverage as well. With this extra coverage, which doesn’t cost that much more, you’ll be covered in any accident that isn’t your fault that will help you with your medical bills and repairing your car.