About one in four Oklahoma drivers is uninsured, the fourth-worst rate in the nation, according to a recent study.
The study by the Insurance Research Council, which includes data from 2007, shows 24 percent of Oklahoma motorists have no insurance and that the troubled economy may boost those numbers. Only New Mexico (29 percent), Mississippi (28 percent) and Alabama (26 percent) had higher rates of uninsured drivers.
Oklahoma showed the greatest increase since the insurance industry group’s last survey, issued in 2003. At that time, the council reported about 15 percent of Oklahoma motorists failed to carry insurance.
Nationwide, about one in six drivers may be driving uninsured by 2010, according to the study. Although the estimated percentage of uninsured motorists decreased nationally from 14.9 percent in 2003 to 13.8 percent in 2007, the recent economic downturn is expected to trigger a sharp rise in the uninsured motorist rate.
The report found a correlation between the rates of uninsured motorists and unemployment. An increase in the unemployment rate of 1 percent is associated with a three-quarter point jump in the rate of uninsured motorists. Based on current unemployment rate projections, the percentage of uninsured motorists nationwide is expected to rise from 13.8 percent in 2007 to 16.1 percent in 2010.
David Corum, the Insurance Research Council vice president, said it’s not clear why some states, such as Oklahoma, have such high rates of uninsured motorists in comparison to others. The states with the lowest rate of uninsured motorists – Massachusetts, Maine, North Dakota and New York – all have rates of 5 percent or less.
Jerry Johns of Southwestern Insurance Information Services said enforcement is the key to reducing the number of uninsured motorists.
A state law passed in 2006, which took effect Jan. 1, allows law enforcement agencies and tag agents to check for up-to-date automobile insurance electronically through a database maintained by the Department of Public Safety. The system is in place, but authorities aren’t relying on the information because it is accurate only 60 percent of the time, Oklahoma Tax Commission officials said.
Information from: The Oklahoman, www.newsok.com
Topics Oklahoma
Was this article valuable?
Here are more articles you may enjoy.
Berkshire’s ‘Most Important’ Biz Drives Q1 Results; GEICO Still Behind on Tech 
Liberty Mutual Posts $1.5B Net Income for Q1, Reversing Loss 
Pfizer Agrees to Settle More Than 10,000 Zantac Cancer Lawsuits 
Cracks in O’Hare Columns Aren’t Insured Property Damage, Just Bad Product – Court 
