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Motorcycle
Compliance with the state's financial responsibility law requires insuring your motorcycle. For most riders, accordance comes in the form of liability insurance.
Ways to Establish Financial Responsibility
The state, depending on your situation, gives you five insurance options:
- Protecting yourself under the Oklahoma Assigned Risk Auto Plan.
- Taking out a self-insurance policy if you have 26 or more vehicles registered under your name.
- Depositing $75,000 with the Department of Public Safety or an Oklahoma financial institution.
- Securing a bond issued by an authorized surety company.
- Liability insurance (more information below).
Two-Wheeled Vehicles Defined
If you're unclear on whether or not your two-wheeled vehicle requires registration, which would necessitate insurance, call the Oklahoma Tax Commission (OTC) at (800) 522-8165.
The state defines two-wheeled vehicles as:
- Motorcycle―Any motor vehicle having a seat or saddle for the use of each rider; possessing not more than three wheels in contact with the ground, but excluding a tractor; and having a combustion engine with a piston or rotor displacement of greater than 150 cc.
- Moped/Scooter―Even though they're generally smaller and pack less punch, some mopeds and scooters require titling, registration, and insurance. Contact the OTC for details.
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Here are the minimum amounts of liability insurance you must carry:
- $10,000―Injury or death of one person
- $20,000―Injury or death of two or more persons
- $10,000―For property damage
Keep in mind that you're not limited to the minimum amounts. You're free to increase your protection with additional types of coverage.
Rates vary from company to company. So before selecting an insurance company, do yourself a favor and shop around for a budget-friendly rate.
How Coverage Affects Helmet Requirements
No insurance discounts are available for wearing a helmet. As is, helmets are required for riders under 18. However, the state does offer a three-year insurance discount for participating in the Oklahoma Rider Education Program (excluding court-mandated participants).
Top Proof of Insurance and Financial Responsibility
Even though law officials can monitor your insurance status via an online verification system, you still must carry one of the following:
- Proof of a surety bond.
- An insurance identification card supplied by your carrier.
- A certificate of deposit.
- A certificate of self-insurance.
- Proof of participating in the Oklahoma Assigned Risk Auto Plan.
Top Penalties for Failure to Maintain Financial Responsibility
Penalties for no proof of insurance are steep and include:
- A fine of up to $250.
- Possibly a jail sentence of up to 30 days.
- Suspension of your registration and license.
For assistance with figuring out your penalties and reinstating your registration and license, and call the OTC at (800) 522-8165.
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