Oklahoma Motorcycle Insurance Laws

Oklahoma is a "fault" or "tort" state, meaning that, in a motor vehicle accident, the guilty party pays for the non guilty party’s damages and losses. So, to ride a motorcycle in The Sooner State, you need two things: an M endorsement on your driver’s license, or a learner’s permit (good for 30 days); and the establishment of financial responsibility. In fact, you cannot get a learner’s permit or an M endorsement without proof of financial responsibility.

What is Financial Responsibility?

Financial responsibility is assurance of your ability to pay for any damages you may be liable for if you are involved in an accident while riding a motorbike.

How Does One Establish Financial Responsibility?

There are five ways to establish financial responsibility in Oklahoma:

• Liability Insurance: The simplest and most common way to establish financial responsibility is by purchasing a motorcycle liability policy from a licensed insurance carrier. Oklahoma requires motorcycle riders to carry a minimum liability policy of $25,000 for bodily injury per person, $50,000 for bodily injury per accident, and $25,000 for property damage per accident.
• Oklahoma Automobile Insurance Plan: This is a state run plan, created in 1950, to provide liability coverage for those who are considered to be too high of a risk by major insurance companies.
• Self Insurance Policy: If you own 25 or more vehicles under your name, you can purchase a self insurance policy. This is designed for businesses that own a fleet of vehicles.
• Monetary Deposit: You can make a monetary deposit of $75,000 to the Oklahoma Department of Public Safety to ensure you are financially responsible.
• Surety Bonding: You can choose to obtain a bond through a state licensed surety company.

Penalties For Driving Without Insurance in Oklahoma

If you are in an accident or pulled over by a police officer without proof that you are insured, bonded, or have made the mandatory deposit, you may be subject to any of the following consequences:

• A fine of up to $250
• A fine of up to $250 and up to 30 days in jail
• A suspension of your driver’s license and vehicle registration for up to a year, or until you provide proof of financial responsibility
• Impoundment of your vehicle and payment of storage costs
• If your driver’s license is suspended and you wish to reinstate it once the suspension is over, you must pay a reinstatement fee of $275 plus an administrative fee of $125

As you can see, riding a motorcycle without establishing financial responsibility can be both risky and costly. If you are involved in an accident and have not established financial responsibility, or if you’ve been in an accident with a driver who is not financially responsible, you need to consult a qualified Oklahoma motorcycle accident attorney. Car Accident Help can answer any questions you may have regarding motorcycle accidents and insurance. Call us any time, 24 hours a day, 7 days a week, at (405) 285-4357.

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