New auto insurance law in Oklahoma set to impact the insurance industry

A new law regarding auto insurance is set to take effect November 1 in Oklahoma. Farmers Insurance, the state’s largest auto insurance company, has taken this opportunity to remind drivers of the law and how it will affect them. The law – Senate Bill 272 – will introduce new requirements for auto insurance and stricter penalties for drivers without insurance or those underinsured. Farmers notes that the law will likely benefit consumers as a whole, but may make changes to existing policies. The law will reduce the amount of money…

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Over 20 percent of drivers in Texas aren’t insured

In Texas, more than 1 in every 5 drivers does not have adequate auto insurance to comply with the laws within that state. According to a recent report by the Texas Department of Insurance, 21.6 percent of all of the drivers in the state were operating their vehicles while uninsured. Dallas County had the largest number of uninsured drivers among the most populated counties in the state, with 24.1 percent of its drivers lacking insurance. Bexar county followed closely behind with 22.9 percent of drivers being uninsured. In the entire…

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More and more people driving without insurance

The high unemployment rates and continuing poor economy have affected almost everyone across the United States. When people lose a job they start looking at where they can cut their bills to make ends meet. Unfortunately, sometimes their car insurance is one of the areas that get cut. The rate of uninsured drivers for 2010 hit 16.1 percent. Several states have amended previous insurance requirements, or changed the minimum amounts a driver is required to carry. Some states have changed coverage that was once mandatory, like underinsured motorist, and made…

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