Are There Inexpensive Auto Insurance Add-Ons Available in Oklahoma?
The majority of consumers seek to pay the lowest amount for automobile coverage as possible, and one of the ways to accomplish this is to purchase the least amount of protection possible. But opting for minimal coverage can leave a motorist vulnerable to many vehicle-related expenses that could be covered by some inexpensive auto insurance policy add-ons. Motorists may want to consider adding the following to policies.
Uninsured Motorist Coverage
The state may require that drivers carry Oklahoma auto insurance policies, but, unfortunately, there are a large number of motorists who choose to operate motor vehicles illegally by driving uninsured. In 2009, it was estimated that 24 percent of drivers in the state were operating their cars without coverage in place, making it one of the top five states for motorists who drove without a policy.
Consumers have the option to purchase uninsured motorist coverage (UM), which may be a wise choice considering that nearly a quarter of drivers were estimated to be uninsured. This coverage will pay for injuries of the policyholder and passengers who are in an accident caused by either a motorist without an active policy or a hit-and-run driver. The premium will vary between $29 and $155 for limits of $25,000/$50,000*.
Following an accident, many people still need to get around. Unless a person has access to another vehicle, he or she can benefit from this add-on. The policyholder will be reimbursed for the expenses associated with renting a vehicle if his or her automobile is being repaired after an accident. The cost of adding this ranges from $5 to $46 for a limit of $30 per day.
Towing and Labor
Individuals who belong to an auto club may not need to add this to their policies, but those who don't can benefit from this very cheap addition. One of the biggest inconveniences is being stranded on the side of the road. Adding this to a policy will provide services such as towing, changing a flat tire, a battery jumpstart, and locksmith charges. The cost is between $1 and $27.
This add-on pays reasonable medical expenses for the policyholder and passengers sustained in an automobile accident. The cost for $2,000 of coverage is from $2 to $100.
Excess Electronic Equipment
Typically, any electronics that are not factory-installed will not be covered by a policy unless an additional premium is paid to insure them. With this addition, excess electronic equipment, tapes, compact discs, and other forms of media will be covered. The additional charge for $200 worth of coverage ranges between $2 and $16, but higher limits can be obtained for extra premium dollars.
*Dollar amounts provided by Oklahoma's Official Website.