Cheapest car insurance in Oklahoma for 2024

Like most states, Oklahoma requires that drivers carry at least a minimum amount of liability car insurance coverage, but you may need more financial protection. Drivers in the state pay an average of $2,585 per year for full coverage car insurance and $519 per year for minimum coverage, a bit less than the national average.

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 American Farmers & Ranchers Mutual, Mercury and USAA to offer some of the cheapest car insurance for the different driver needs below.

Key takeaways

• Cheapest company for minimum coverage: American Farmers & Ranchers Mutual
• Cheapest company for full coverage: American Farmers & Ranchers Mutual
• Cheapest company for drivers with prior incidents: Geico and Mercury
• Cheapest company for young drivers: American Farmers & Ranchers Mutual

Buying a liability-only policy is one way to land a cheap auto insurance policy. However, keep in mind that minimum coverage won’t protect you against some types of losses, such as theft and weather damage. It also won’t cover damage to your own car if you cause an accident. If you’re looking for minimum coverage, however, American Farmers & Ranchers Mutual tends to offer the cheapest policies in Oklahoma.

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 cheapest 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 financial protection for physical damage and higher coverage limits.

Full coverage car insurance is pricier, but offers more financial protection. On top of protecting you from liability, it covers your car for other forms of loss or damage through both comprehensive and collision insurance. Typically, American Farmers & Ranchers Mutual offers the cheapest full coverage policies on average in Oklahoma:

One of the key factors influencing your auto insurance rates is your driving record. A history of accidents or tickets could cause your rates to rise significantly. That means driving safely and avoiding problems is important if you’re looking to get cheap auto insurance.

• Cheapest car insurance for drivers with a ticket: Geico
• Cheapest car insurance for drivers with an at-fault accident: American Farmers & Ranchers Mutual
• Cheapest car insurance for high-risk drivers: Mercury

Cheapest insurance companies for drivers in Oklahoma with a speeding ticket: Geico

In addition to fines and other penalties, a single speeding ticket conviction in Oklahoma could be enough to increase your policy rate. In fact, Bankrate's research shows that there is an average increase of $358 annually on the rate of a full coverage policy after a speeding ticket or other  moving violation. Geico was one of the cheapest insurers for drivers with a speeding ticket, on average.

Cheapest car insurance for drivers in Oklahoma with an at-fault accident: American Farmers & Ranchers Mutual

Unless you have accident forgiveness as part of your policy, you are likely to see your rate increase after an at-fault accident. Typically, an accident will impact your policy for three to five years, depending on your insurance company, before the surcharge is removed from your premium. Our research found that American Farmers & Ranchers Mutual offers the lowest average rates for drivers involved in a single at-fault accident in Oklahoma.

Cheapest car insurance in Oklahoma for high-risk drivers: Mercury

Few rating factors have the ability to increase your car insurance premium more than if your insurer places you in its high-risk category. This may happen if you have multiple accidents or moving violation convictions. It may also be a consequence of a single DUI conviction, the most severe high-risk infraction. In some cases, high-risk drivers may need to look around to find a company that is willing to insure them. Mercury tends to offer the cheapest policies for high-risk drivers, on average, in Oklahoma.

Age is a major factor in determining your insurance rates in most states, and Oklahoma is no exception. Young drivers have less experience are still maturing and building the decision-making skills required to drive safely, so insurers compensate for the risk by charging higher premiums. Finding cheap auto insurance for young adults can be difficult, but it’s worth shopping around. We’ve gathered a list of insurers that offer competitive average rates to younger drivers in Oklahoma to help you get started in your search.

• Cheapest car insurance for insuring a teen driver: American Farmers & Ranchers Mutual
• Cheapest car insurance for teens with a ticket: American Farmers & Ranchers Mutual
• Cheapest car insurance for teens with an at-fault accident: American Farmers & Ranchers Mutual
• Cheapest car insurance for young drivers with a DUI: Progressive

Cheapest Oklahoma car insurance for insuring a teen driver: American Farmers & Ranchers Mutual

Because they have limited years of driving experience, teen drivers tend to be involved in accidents more than any other age group. This higher risk level means they typically face high rates for their insurance. Parents adding a teen driver to their policy are likely to see a significant increase, even if they can find good teen discounts from their insurer. Of the insurers we analyzed, American Farmers & Ranchers Mutual tended to have the cheapest rates and offers a good student discount.

Cheapest Oklahoma car insurance for teens with a ticket: American Farmers & Ranchers Mutual

Teen drivers already typically pay high insurance rates, so adding a ticket to the equation can really drive rates up. If you are 18 with your own policy and have a ticket on your record, American Farmers & Ranchers Mutual offers the cheapest policies on average in Oklahoma, but you can expect to feel a hit to your insurance budget until the surcharge falls off.

Cheapest Oklahoma car insurance for teens with an at-fault accident: American Farmers & Ranchers Mutual

Getting into an accident as a teen can be a scary experience. If you’re found to be at-fault for the accident, it can also mean higher insurance premiums. Especially if you’re 18 and have your own car insurance policy, which is more expensive to begin with than if you were on your parents’ policy. If this happens to you in Oklahoma, American Farmers & Ranchers Mutual will likely offer the lowest-cost insurance despite your perceived high risk.

Cheapest Oklahoma car insurance for young drivers with a DUI: Progressive

Getting a DUI can make insurers believe that you’re a very high risk to insure, which can make it hard to find coverage and cause the policies you can qualify for to be quite expensive. If you’re a 21-year-old who also falls into the young driver category, you could see your rates skyrocket for a while. In Oklahoma, Progressive tends to offer the cheapest policies for young drivers with a DUI on their record. Keep in mind that there is no guarantee that any provider, even those we’ve listed average rates for, will offer you a policy after a DUI conviction. The best way to determine whether you can get a policy and what your rates might be is to contact the insurer and ask for a quote.

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. The best way to see what discounts you qualify for with an insurer is to talk to an agent who can help you find all the deals available.

• Young driver discounts: Young drivers often pay a high rate for their insurance, but they could earn discounts from many insurers if they maintain a "B" or better grade point average in school. There may also be a discount opportunity if they are attending college more than 100 miles from where their car is garaged.
• Safe driver discounts: Telematics programs are becoming more popular among insurance providers because they provide data about how risky a driver is. Insurance providers typically provide a discount for drivers who demonstrate safe driving habits, but some reserve the right to raise your premium if you show unsafe driving habits.
• 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.

Bankrate utilizes Quadrant Information Services to analyze April 2024 rates for all 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 single, 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 2022 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.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction. Young driver DUI rates are for 21-year-old drivers on their own policy; other young driver incident rates are for 18-year-old drivers on their own policy.

Age: Rates were calculated by evaluating our base profile with the ages 18 and 21 applied. Drivers are renters on their own policy. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Teens: Rates were determined by adding a 16year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.