Auto Insurance

• Gap Insurance: Your vehicle depreciates over time, including the moment you drive it off the lot. In a catastrophic loss, your auto insurer will only pay your car’s actual cash value, which could be less than what you owe on a loan or lease. Gap insurance will pay for the dollar-amount “gap” between the balance of your financing and what your car is worth.
• Umbrella Insurance: Umbrella insurance isn’t car insurance in the strictest sense. It’s an extra level of broad-based liability protection beyond homeowner and auto policies, and it protects assets of $1 million or more in case of a lawsuit.
• Rental Reimbursement: While your car is being repaired under a claim, rental reimbursement will keep you on the road by covering the cost of a rental car. There are limits on how much the insurer will pay per day and per claim, but it’s usually enough to cover a rental for the full amount of time your car is in the shop.
• Emergency Roadside Assistance: This coverage option will provide assistance if you lock yourself out of your car, need a tow or jump start, get a flat tire or run out of gas. If your car is inoperable, you can get a tow to a nearby garage of your choice, up to a specified distance.
• Mechanical Breakdown Insurance: Mechanical breakdown insurance can cover the costs of repairs to mechanical parts and systems. This coverage is similar to extended warranties and service contracts, but unlike those products, you pay a monthly premium instead of paying a lump sum up front.
• Usage-Based Insurance (UBI): This is not a different type of insurance coverage; it’s just a new way to pay for insurance like liability, collision and comprehensive coverage. By permitting the insurer to track your mileage and driving habits, you become eligible for discounts.
• Non-Owner Car Insurance: This is a type of liability insurance for people who do not own their own car. People without a car may need to purchase this insurance to get a suspended driver’s license reinstated.
• SR-22 Insurance: An SR-22 is not a specific type of insurance, but rather a form that insurance companies file with the state to confirm that high-risk drivers are carrying the minimum required insurance. Coverage with an SR-22 is often confused for a specific type of car insurance, however.

Lawton Oklahoma Insurance