Category: Auto

6 Key Factors That Can Influence Your Auto Insurance Premiums

Ever wondered how your auto insurance premiums are calculated? The truth is, several factors come into play when determining your rates. Understanding these factors can help you make informed decisions about your coverage and potentially save money. Keep reading for six key elements that can affect your auto insurance premiums!

Where You Live (and Park)

Where you live (and park) plays a significant role in determining your insurance rate. Companies consider local demographics, including crime rates, theft and vandalism statistics, population density, and even weather patterns. Urban areas with higher crime rates or regions prone to severe weather events may see higher premiums due to increased risk.

How Much You Drive

When you applied for an auto policy, you were likely asked about your average annual mileage. Simply put, the more you drive, the higher your chances of being involved in an accident, which is why high-mileage drivers often have higher premiums than those who drive less frequently.

What You Drive

The make and model of your car, along with its engine size and theft rating, can significantly impact your insurance costs. Expensive cars, those with powerful engines, or models that are frequently targeted by thieves may cost more to insure. Something to think about when buying or leasing a new car! 

Your Driving Record

One of the biggest factors affecting your auto insurance premiums is your driving record. A safe driving history with no accidents or traffic violations can lead to lower rates, while a poor driving record with multiple incidents can result in higher premiums. It all comes down to risk, which is why insurance companies typically view drivers with a safe driving history less risky. 

Your Age

Age plays a role in determining insurance rates, particularly for younger and older drivers. Younger drivers, typically those under 25, often face higher premiums due to their lack of experience behind the wheel. That said, once drivers get older, like in their mid-70s, they may see an increase in rates again due to age-related risk factors.

Your Deductible

The amount of your deductible, the out-of-pocket expense you agree to pay before your insurance coverage kicks in, can be adjusted based on your preference. Opting for a higher deductible can lower your premium but means you’ll pay more out of pocket if you need to file a claim. 

Understanding these factors can help you make informed decisions about your auto insurance. At OKFB Insurance, we’re committed to helping you find the right coverage. Contact your local agent to review your policy or get an instant auto quote! 

We’re Here to Help

Whether you’re a longtime policyholder or just starting to look for insurance options, we’re here to help. If you have questions or concerns that you want to discuss, connect with your local OKFB agent today. If you have any insurance-specific questions, we would love to help you find the coverage that best meets your home, auto, commercial and life insurance needs.

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7 Essential Car Maintenance Tips You Should Know

Keeping your car in good condition isn’t just about preserving its value—it’s about ensuring your safety on the road and avoiding costly repairs down the line. Here are seven essential car maintenance tips that every driver–new or old–should know!

Check tire pressure and rotate tires

Your tires are literally where the rubber meets the road, making them crucial for your safety. Check your tire pressure monthly and before long trips. Proper inflation helps prevent blowouts, improves fuel efficiency, and ensures even wear. Don’t forget to rotate your tires every 5,000 to 8,000 miles to promote even wear and extend their lifespan!

Check the motor oil

Oil is what keeps your engine running smoothly. Regularly checking your oil level and changing it according to your vehicle’s manual (typically every 3,000 to 5,000 miles) can significantly extend your engine’s life and improve its performance.

Test the headlights and taillights

Good visibility is essential for safe driving. Regularly check all your lights—headlights, taillights, brake lights, and turn signals. Replace any burnt-out bulbs immediately. Not only is this crucial for your safety and others, but it’s also a legal requirement in most places.

Check and replace windshield wipers

Windshield wipers are often overlooked until you’re caught in a downpour with poor visibility. Inspect your wipers for signs of wear and replace them every 6 to 12 months or sooner if you notice streaking or skipping.

We’re Here to Help

Whether you’re a longtime policyholder or just starting to look for insurance options, we’re here to help. If you have questions or concerns that you want to discuss, connect with your local OKFB agent today. If you have any insurance-specific questions, we would love to help you find the coverage that best meets your home, auto, commercial and life insurance needs.

Don’t forget to follow us on social! This kind of information and more is just a click away. You can find us on Facebook, Instagram and LinkedIn.

Do You Need Car Rental Insurance?

Do I need to buy the rental company’s insurance when renting a car? This is the million-dollar question for many renters. Renting a car can be a convenient solution when on vacation. However, one common dilemma that often arises at the rental counter is whether to purchase the insurance offered by the rental company. The answer depends on several factors, including your existing insurance coverage, the type of rental car, and your comfort level with assuming potential risks. Let’s delve into the factors to consider: 

Covering car damage

If you already have full comprehensive and collision coverage on your personal auto insurance policy, it may extend to rental cars as well. In many cases, your own insurance will cover damages to the rental vehicle, similar to how it would cover damages to your own car. However, it’s crucial to review your policy details before assuming anything.

Covering personal liability

Oklahoma auto insurance laws state drivers must carry liability coverage that meets or exceeds 25/50/25 policy limits. Fortunately, this coverage usually extends to rental cars as well, providing protection against bodily injury and property damage claims. 

Check with your agent

When in doubt, seek guidance from your insurance agent. They can provide clarity on your existing coverage, advise you on additional insurance options, and help you make an informed decision based on your individual needs and circumstances. If you’re not sure what your policy covers, your OKFB agent can help! 

We’re Here to Help

Whether you’re a longtime policyholder or just starting to look for insurance options, we’re here to help. If you have questions or concerns that you want to discuss, connect with your local OKFB agent today. If you have any insurance-specific questions, we would love to help you find the coverage that best meets your home, auto, commercial and life insurance needs.

Don’t forget to follow us on social! This kind of information and more is just a click away. You can find us on Facebook, Instagram and LinkedIn.

6 Tips for Driving in Severe Weather

Mother Nature has a way of surprising us when we least expect it. Unpredictable weather conditions, from sudden storms to flash floods, can make driving a challenging and potentially dangerous task. To help you navigate these situations safely, we’ve compiled our top tips for driving in severe weather.

Don’t drive through a flooded road

One of the most dangerous situations you can encounter on the road is driving through a flooded area. It may seem like common sense, but many accidents happen when drivers underestimate the power of rushing water. Just 12 inches of swiftly moving water can carry away most cars, and it takes only two feet of water for trucks and SUVs. To avoid the risk, never attempt to cross a flooded road, even if it appears shallow.

Drive slowly

In most challenging weather conditions, slowing down is key. Reducing your speed gives you more time to react to unexpected obstacles and potentially slippery roads. Remember that your vehicle’s stopping distance increases in severe weather, so maintaining a safe following distance from the vehicle in front of you is crucial. By driving slowly, you’ll have better control over your vehicle and reduce the risk of accidents.

Resist the urge to “floor it”

If you are stuck on muddy or snowy roads, the temptation to hit the gas pedal hard can be strong. However, doing so can lead to spinning tires and loss of control. If you find yourself stuck, follow these steps:

  • Straighten your wheels.
  • Gently accelerate, applying steady pressure to the gas pedal.
  • Avoid spinning your tires; this only digs you in deeper.
  • If you have sand, kitty litter, or blocks in your emergency kit, place them under your drive wheels to gain traction.

Stock your vehicle

Being prepared for unexpected emergencies is a smart move for any driver. Having certain items on hand can make a significant difference if you find yourself stranded in adverse weather conditions. Create an emergency roadside kit that includes essential items, such as:

  • Jumper cables
  • First-aid supplies
  • Non-perishable snacks and water
  • Ice scraper and snow brush

Read more tips on how to put together a car emergency kit.

Leave your lights on

Visibility is crucial when driving in unpredictable weather. Ensure your headlights are on, even during daylight hours, as it helps others see your vehicle better. Additionally, consider using your hazard lights in extreme weather conditions, such as heavy rain or dense fog. This added visibility can help prevent accidents by alerting other drivers to your presence.

Pull off the road if necessary

If the weather conditions become too treacherous to continue safely, don’t hesitate to pull off the road. Find a safe place to park, such as a rest area or parking lot, and wait for the weather to improve. It’s better to delay your journey than risk getting involved in an accident due to poor road conditions.

Driving in unpredictable weather conditions demands caution, preparedness and patience. By following these six safety tips, you can protect yourself and others when driving in severe weather. Remember, your safety should always be your top priority, so exercise good judgment and take extra precautions when facing challenging weather conditions.