The words cheap and Oklahoma City don’t seem to belong together in a sentence about auto insurance, but that doesn’t mean everyone doesn’t want the best deal possible. Oklahoma City, due to its disastrous and unpredictable weather, is one of the most expensive places in the United States for auto insurance. It is also a large metropolitan area with a lot of traffic, which also raises rates. You’ll need this guide to help you navigate the different insurance companies and the average rates they offer different people based on their situation.
The average cost of full coverage auto insurance in Oklahoma City is $1,722 a year, but with discounts and other cost-cutting measures, we’ve found a few cheaper options out there, depending on personal factors that are both within and outside of your control. GEICO often has the best rates, on average, in almost all categories for Oklahoma auto insurance, but because premiums are so personal, you need to compare auto insurance quotes to find the best deal for yourself.
Factors that will influence your premiums include the car you drive, the area you live in, your age, your marital status, your credit history, your driving record, and what discounts apply to you.
The Cheapest Minimum Liability Coverage In Oklahoma City
In every state, you are required to carry a minimum amount of liability insurance in order to apply for or renew a license and drive a car. In the state of Oklahoma, state minimum auto insurance limits in OKC are 25/50/25, which means $25,000 bodily injury per person, $50,000 bodily injury per accident, and $25,000 in property damage. Driving without insurance or a license can result in serious fines and even jail time. You can lose your license temporarily or permanently from these actions.
Minimum liability is certainly the least expensive option for auto insurance, but if you used a loan to finance your car, then you’ll be required to take out full coverage. If you have an expensive car or have other assets to protect, then you might want to get more than the state-mandated liability insurance because other motorists can sue you for damages if you cause an accident.
If you are a young adult just starting out, car insurance could hit you with a double-whammy. First of all, younger drivers (25 and under) pay higher insurance rates due to their inexperience on the road and higher rates of accidents. Some young people also suffer from poor credit as a result of early credit mistakes, too many loans, or simply not having much of a credit history at all. This combination will raise your rates even if you’re trying to get liability-only insurance. You can’t make yourself get older any faster, but you can focus on having a good credit history and a safe driving record.
Two other factors that could raise your rates considerably are having an accident or getting a serious ticket such as excessive speeding, reckless driving, or a DUI. If your insurance company doesn’t drop you completely, you can at least expect to pay higher rates for quite a while. If you own your car clear and free and are able to take out liability-only auto insurance, here are some examples of rates you can expect to pay.
Keep in mind, liability insurance only covers the other party for their injury or property damage bills and doesn’t pay anything towards your own expenses for the same accident. You’ll need full coverage, or at least collision coverage, to protect yourself financially.
Why You Might Want Full Coverage Auto Insurance Living In Oklahoma City
When you use a bank to finance your car purchase and have to make car payments for a set amount of time, that bank will require you to mitigate their risk by taking out full-coverage auto insurance. Full-coverage is somewhat of a slang term, meant to combine the idea of having liability, collision, and comprehensive coverage all at once. We’ve already talked about liability insurance, but what are the other two all about?
Collision coverage is what will cover your own costs after an accident you cause. You see, liability coverage only protects the other party in an accident. You’ll need collision coverage to avoid paying out of pocket for your own property damage bills after an at-fault accident.
Comprehensive coverage is very important, especially in states like Oklahoma, where severe weather often causes damage to automobiles. Wind, rain, hail, and tornados are all damaging weather conditions that could have you racking up body shop bills. Comprehensive coverage will also cover you for things like vandalism, theft, and other things that damage your vehicle.
When you have insurance, although you are paying a premium, you don’t have zero costs after an accident. You’ll still have to pay a deductible for each claim. The amount of deductible in the plan you choose will help determine your premium. The higher the deductible you are willing to pay, the lower your premium will be. Basically, you are deciding if it’s safer to pay more per month because you might have several claims and want to avoid high deductibles, or is it better to pay a lower premium because you have a feeling you won’t be making any claims. That choice is all up to you.
A few things that aren’t usually included in “full-coverage” insurance are roadside assistance, gap coverage, and uninsured motorist coverage. You can add these on for an additional cost.
The Most Affordable Full Coverage Auto Insurance In OKC
Car insurance rates are based on a lot of personal data, so your premiums might be different from your neighbors even if you drive a similar car. In order to provide you with a list of average car insurance prices, the following quotes are for a middle-aged driver with a clean driving record and good credit living in Oklahoma City.
While getting cheap auto insurance might not be a good reason to pop the question to your significant other, it is true that married people pay less in premiums. Insurers see married people as more responsible and less risky on the road. So instead of paying double what you see above, a couple who are married will see the following better rates. Keep in mind that these rates cover two individuals.
If you have a military connection, the cheapest rates by far for you will come from USAA. They provide great quality insurance at very low rates for anyone who is active duty, reserve, guard, veterans, and for their spouses and children as well.
Low Auto Insurance Rates If You’ve Had Accidents Or Tickets
We can’t be perfect all the time, and accidents do happen. So how is your insurance going to be affected after a crash or a few tickets? Well, it depends on several things. If one of these unlucky events has happened to you recently, it’s time to cost-compare different insurance companies because how different companies react to these situations can be very different. Some insurance companies offer accident forgiveness, while others will raise your rates quite a bit even after one minor crash.
Your price increase will remain in effect for anywhere from 3 to 5 years. If it’s been about that long since your last crash or ticket, then it’s time to start shopping for the best deals with your new reduced rates. Your rates might not get lowered automatically, be sure to stay on top of the situation and check in with your provider.
Speeding tickets will result in higher premiums with most insurance companies, and again they will stay on your record for 3-5 years. Some factors that make speeding more serious is if you are going more than 16 or 20 miles over the legal limit, resulting in more serious legal matters. In that case, or in the case of multiple tickets, you could even be dropped by your insurance company and need to find a new one. In any event, you will be paying higher premiums for a while.
Cheap Car Insurance For OKC Drivers After Receiving One Or More Tickets:
- Geico: $1,400 per year.
- Allstate: $1,840 per year.
- American Farmers & Ranchers: $2,018 per year.
- State Farm: $2,103 per year.
- Oklahoma Farm Bureau: $2,263 per year.
Even more serious than a speeding ticket, a DUI citation can result in difficulty keeping or obtaining auto insurance. Drivers that have demonstrated that they are willing to get behind the wheel after drinking are extremely high-risk to insure, and that leads to substantially higher premiums.
You will also most likely have to file for SR-22, an additional insurance guarantee that is certified financial responsibility while your license is suspended. Even if your license is suspended following a DUI, you have to keep your insurance in place in order to get your license reinstated later. A gap in coverage will make it harder for you to get your license back. Here are some of the rates you can expect after a DUI.
Getting Car Insurance In Oklahoma City With Poor Credit
Many people are surprised to find out that their credit score can have an impact on their insurance rates. Insurance companies see your credit score as a report on how financially responsible you are. People with good credit aren’t spending more than they make, aren’t defaulting on loans, and are making payments on time. These are all also indicators that they will be more careful and cautious drivers. Good credit will result in lower rates, while poor credit will often result in higher rates.
Credit is only one factor that helps determine your rate, but if you want to low cost auto insurance rates, then you’ll need to work to improve your credit score. Close accounts you aren’t using, keep your debt-to-income ratio low and make all your payments on time. These activities will improve your credit score over time. When it comes to insurance, credit scores can also be situational; a dip in your score could be overlooked if it’s due to divorce, death of a spouse, or other factors.
Most Affordable Car Insurance in OKC For Families With Teen Drivers
Teen drivers are involved in a higher rate of fatal car crashes and accidents and therefore have the highest car insurance rates. Right now, the highest rates on average go to male drivers under the age of 25, but accidents by gender are starting to even out. Teen drivers, in general, will make your car insurance more expensive. Most teens will be insured on their parent’s family plan, but they can also buy insurance on their own if needed.
As usual, you’ll need to shop around for the best rates on teen drivers. Some insurance companies will offer discounts for good drivers and good grades that you can take advantage of for lower rates. It’s very important to talk about safe driving with your teen and have them take a defensive driving course to help lower their accident risk. Also, make sure to discuss distracted driving, especially with cell phone use on the rise. Encourage your teen to put their phone out of reach when driving.
Getting Car Insurance In Oklahoma City When You Don’t Own A Car
Even if you don’t own your own car, you’ll need auto insurance to drive a car owned by someone else. Do not expect to be automatically covered by the car owner. To get a driver’s license, you need insurance. Many insurance companies ask you about your car when you apply for insurance, but there is such a thing as a “non-owners” policy. You might need a non-owners policy if you frequently drive a family member’s car, drive a car for work, or are simply in-between cars but expect to keep driving in the future.
Specifically, a non-owner policy is a form of liability coverage that protects you if you cause an accident while driving a car you don’t own. In the state of Oklahoma, the non-owners policy will pay liability only and does not cover damages to the car you are driving. It is a secondary policy only. Not all insurance companies offer a non-owner policy. In fact, out of the ten most common auto insurance companies, only three offer the policy; GEICO, State Farm, and Nationwide.
Some people make the mistake of dropping their auto insurance if they won’t be driving for a while for medical, financial, or other reasons. Gaps in insurance can make it difficult or more expensive to obtain insurance in the future. Try to keep your policy in place if there is any chance you’ll be driving again in the future.
Is Car Insurance In Oklahoma City More Expensive Than The Rest Of The State?
While the state of OK is home to some of the highest auto insurance rates in the country, Oklahoma City itself has the 2nd highest premiums in the state. If you live in OKC, you have weather, accident rates, and the perils of living in a traffic-congested metropolitan area all working against you when it comes to rates. Here is a breakdown of the average most affordable car insurance rates in Oklahoma by area.
- $1,816 in Oklahoma County, which encompasses Oklahoma City and suburbs like Edmond, Choctaw, and Midwest City, Oklahoma.
- $1,716 in Cleveland County, which includes Norman and Moore, Oklahoma.
- $1,674 in Canadian County, home to El Reno, Mustang, and Yukon, Oklahoma.
- $1,630 in McClain County, which includes Newcastle and Purcell, Oklahoma.
- $1,629 in Lincoln County, where Chandler, Oklahoma, is the county seat.
- $1,615 in Logan County, which includes Guthrie, Oklahoma.
- $1,597 in Grady County, home to Chickasha, Oklahoma.
Getting Affordable Car Insurance In Oklahoma City Using Discounts
Once the sticker shock of auto insurance premiums in Oklahoma City has subsided, it’s time to get down to business choosing your coverage. Each individual insurance company managers their risk in a different way. That’s why you’ll get a different quote depending on what company you go with. Getting a personalized quote from your top choices and comparing them side-by-side with applicable discounts is the only way to determine who will give you the best rates.
We’ve already talked about Military discounts, but you can also get discounts for being a farmer, a teacher, or being in any kind of union. Check with your employer and your insurance company for more details.
How you pay your bill can also impact your final price. Paying using an auto-draft from your bank account and pre-paying your premiums 6 months or a year at a time can significantly lower your rates. If you’re about to purchase a car, you can also call your insurance provider to see the effect on your rates for different cars you have in mind. Newer, more expensive cars will often raise your rates, as will classic or luxury cars.
Here are some additional discounts you’ll find with many auto insurance companies to get affordable premiums:
- Safe driver discount for people without accident claims
- Discounts for defensive driving courses or anti-theft devices
- Good student discounts for teens and young adults with a good GPA
- Accident Forgiveness (just in case you need it later)
- Professional discounts based on your job or career
New to Cheapest Auto Insurance?
If this sounds like a difficult process, work with an auto insurance broker that can help you determine the best fit. Using a brokerage to get quotes can also lessen the amount of junk mail and calls you will get. You can get started with Cheapest Auto Insurance easily by filling out our online form or if you'd prefer to speak with a live agent you can call us at 405-703-4077!