Cheapest car insurance in Oklahoma for 2023

The cheapest car insurance companies in Oklahoma

Oklahoma requires that drivers carry at least the minimum amounts of car insurance liability, but you may need more protection based on your circumstances. Shopping around with your needs in mind and asking for quotes from a range of carriers may net you savings when it's time to purchase your policy. Bankrate found Geico, American Farmers & Ranchers Mutual, and Mercury to offer some of the cheapest car insurance for the different driver needs below.

Cheapest company for minimum coverage

Cheapest company for full coverage

Cheapest company for adding a teen driver

Cheapest company for getting a speeding ticket

Cheapest company for being in an at-fault accident

Cheapest company after a high-risk incident

The cheapest car insurance companies in Oklahoma by coverage level

Minimum coverage is typically low-cost insurance that allows you to drive legally, but also gives you a minimum amount of protection. Full coverage, which includes collision and comprehensive insurance, offers more robust coverage for your car in the event of an accident. The average cost of car insurance in Oklahoma is $1,998 per year for full coverage and $406 per year for minimum coverage, although your rates may vary from these averages.

If you are looking for Oklahoma car insurance savings, getting quotes from these cheap insurers may be worthwhile.

Cheapest cities in Oklahoma for car insurance

When looking for cheap car insurance in Oklahoma, one factor to consider is your ZIP code. Insurers take your location into account when determining your rate. If you live in a high-crime or high-traffic area, for example, you may pay more for your policy since your insurer expects to see more claims from these locations. This does not mean you won't be able to find cheap insurance in Oklahoma if you live in a dense traffic area, but you may have to shop around to find the best rates.

Here are some cities where it is possible to find low-cost car insurance in Oklahoma for both minimum and full coverage:

Getting a speeding ticket

Getting into an at-fault accident

Being deemed a high-risk driver

Minimum coverage requirements for Oklahoma drivers

To register your vehicle and drive legally, you must carry at least a minimum amount of car insurance in Oklahoma. According to Oklahoma’s car insurance laws, drivers are required to carry the following policies and coverage amounts:

• $25,000 for bodily injury liability coverage per person
• $50,000 for bodily injury liability coverage per accident
• $25,000 for property damage liability coverage per accident

Drivers who want the best cheap auto insurance in Oklahoma may be tempted to purchase a minimum coverage policy with the lowest rate. However, many drivers may benefit from more robust coverage or may be required to carry it if their vehicle is financed or leased. Full coverage insurance offers physical damage protection, as well as medical payments coverage that will reimburse you for medical expenses after a crash you cause.

How to get the cheapest car insurance in Oklahoma

Shop around

Every insurance company uses its own proprietary algorithms to determine rates, meaning you will likely get different quotes from different companies for the same amount of coverage. Asking for quotes from multiple insurers gives you a way to compare and see which company is offering the lowest premium for your needs.

Consider your coverage

Insurance experts usually recommend that you purchase more than the minimum required if you can afford to, but it's a good idea to evaluate your policy annually to see if there are areas of your policy that you can save on. For example, as your car ages and has less value, you may be able to drop collision and comprehensive coverage if maintaining full coverage outweighs the older car’s replacement value.

Consider your deductible

If you can afford it, consider raising your deductible, which should lead to immediate savings on your premium. Keep in mind that in the event of a claim, you will need to pay the deductible out of pocket while your coverage kicks in for the remaining amount, so avoid raising it higher than you can afford.

Car insurance discounts in Oklahoma

Another way to save money on your policy is to take advantage of discounts. Most insurers offer at least a handful of discounts, and many of them are easy to earn. Here are a few of the more common discounts you may see with Oklahoma insurance companies:

• Young driver discounts: Young drivers often pay a high rate for their insurance, but they can earn discounts from many insurers if they maintain a "B" or better grade point average in school. There may also be a discount if they are attending college more than 100 miles from where their car is garaged.
• Safe driver discounts: Some insurers use optional telematics programs to determine if someone is a safe driver. Those who prove to be careful behind the wheel could earn a considerable percentage off their premium over time. 
• Other discounts: Many insurers offer discounts to members of the military or those who are in certain professions, such as teachers or first responders. Car safety features such as anti-lock brakes often make you eligible to earn a discount, as can agreeing to pay using electronic payments or purchasing multiple policies from your company, such as home and car.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually. 

These are sample rates and should only be used for comparative purposes. 

Bankrate Scores 

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.