Okla. Legislation Aims to Override April 1 Auto Rate Hike

January 11, 2005

Oklahoma vehicle owners could combat an April 1 increase in auto insurance rates if a bill proposed by Rep. Jerry Shoemake (D-Morris) passes the Oklahoma Legislature.

Shoemake has filed a petition to override a law, scheduled to go into effect April 1, that would increase auto insurance coverage levels.

Experts say about 30 percent of Oklahoma motorists do not carry automobile liability coverage and Shoemake is concerned the number of uninsured motorists will increase if rates go up.

At present, Oklahoma’s minimum liability requirements permit claimants to receive up to $10,000 for the injury or death of one person in an accident; $25,000 can be awarded for multiple injuries or death; and $10,000 in property damage per accident.

Under the provisions of the new law levels increase to $25,000 for one multiple injury or death, $50,000 for multiple injuries or deaths and $25,000 for property damage.

Shoemake has proposed a compromise with minimum coverage levels at $15,000, $35,000, and $15,000.

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