Cheaper Isn’t Always Better

As we’ve discussed before, there are a lot of terms when it comes to insurance, and there are coverage’s that are required by Oklahoma law. Bodily injury and property damage are the coverage’s that are required when it comes to automobile insurance, if you want to be legal on the road, then that coverage is a must. But only a certain amount of coverage is required.  With the price of vehicles today, $25,000 won’t go very far in protecting yourself if you damage an expensive vehicle in an at fault accident. Upping your liability and property damage is usually very cheap, but the benefits are huge.

            Part of an automobile policy that’s not required is comprehensive and collision, but they’re great coverage’s to have. You never want to think about the worst happening, but getting into a wreck, a hail storm, or hitting a deer is always a possibility. But without comprehensive and collision, you could be left alone in repairing or replacing your vehicle in the even of a total loss. Comprehensive and collision coverage will make your policy go up in premium, but to replace or make a large repair on a vehicle would be a much larger sum of money.

            Uninsured motorist also isn’t required, but the value of it is immeasurable. In the event that you get into a wreck and the responsible party doesn’t have insurance, or doesn’t have enough insurance, to cover your medical bills, then the cost of that would fall to you. Even though it’s the law, we’ve all heard of people getting into wrecks and the responsible party doesn’t have insurance or doesn’t have enough, and the medical expenses fell on the shoulders of the innocent victim. But don’t let the name fool you, uninsured motorist coverage doesn’t cover your vehicle. Most people think that uninsured motorist will cover your vehicle if you’re involved in an accident and the person responsible doesn’t have insurance, but the only thing that covers your vehicle is comprehensive and collision.

            Roadside assistance is offered with almost every company now. Whether it’s included in your policy premium, or it’s an additional expense, it’s a good idea to have the coverage. Roadside assistance will help with towing expense, refueling on the side of the road, a flat tire, etc. Company’s rules when it comes to roadside assistance for the most part are the same across the board, but as always, it’s a good idea to discuss coverage with your agent.