Have you ever been stranded on the side of a busy highway, or worse, alone on a dark side street with no idea where you are? Flat tires, engine failures, random acts of vandalism, car accidents, all of these things and more could happen to anyone at anytime. Will it ever happen to you? No one knows, and that’s why choosing the right amount of car insurance can be difficult. It’s kind of like making a bet with a bookie in Vegas, you are betting something bad will happen to you and the insurance company is betting that with enough people covered under their policy the number of people that have claims will be less than the number of people paying premiums and not making any claims. No matter what the odds are, no one wants to find themselves on the receiving end of fate’s folly without the proper coverage.
When people go shopping for affordable auto insurance they typically focus on what’s required by law and tend to skip over the more pricey “ala carte” items. The more policy coverage items you add, the more your premiums go up. In Tulsa, Oklahoma you are required to hold the state minimum liability auto coverage that includes $25,000 bodily injury liability per person up to $50,000 per accident and $25,000 in property damage. This will get you the cheapest rates that allow you to drive legally in your state. However, it leaves you open to high out-of-pocket costs for repair or replacement of your own automobile. You’ll need a full or comprehensive collision plan to cover those costs and even then, without the right added policies you still could end up paying for towing or car rental.
Most of the time, both towing and car rental are separate policy add-ons. Towing is a reimbursement policy, meaning you will pay upfront and turn in your receipts for reimbursement from the insurance company. A car rental policy will come in handy if your car is damaged an in need of repairs that will take several days. It allows you to rent a car at little to no cost so that you can still get to work and carry on with your daily life. Some policies will pay upfront for car rentals at designated car rental companies while others are reimbursement plans. Both towing and rental car insurance coverage will have some maximums and limitations in place. It is important to talk with your insurance broker to get the best coverage for your needs.