06-23-04 - (Oklahoma City-AP) The cost of insurance for many Oklahomans will be going up soon. A new law more than doubles the amount of liability coverage drivers have to have.
State Representative David Braddock of Altus and Senator Sam Helton of Lawton sponsored the law, which takes effect November 1st.
Liability coverage will go from 10-20-10 to 25-50-25. The numbers stand for the maximum amount, in thousands of dollars, a person involved in an accident will have to pay in liability for injuries and property damage.
Independent Insurance Agents of Oklahoma's president, Dan Ramsey, says insurance rates won't double. But no one seems to know how much rates will go up for drivers who buy the minimum insurance.