Cheapest car insurance in Oklahoma for 2022
Looking for cheap car insurance in Oklahoma? Choosing the right auto insurance company is the first step. In Oklahoma, a minimum coverage policy costs $423 per year, and full coverage car insurance costs $1,873 a year on average. But, Bankrate found the cheapest minimum coverage policy based on the providers we assessed costs $272 a year on average. For full coverage insurance, the cheapest premium is $1,066 per year. If you are shopping for car insurance on a budget, you can find affordable coverage without sacrificing protection.
The cheapest car insurance companies in Oklahoma
To help you find the cheapest car insurance in Oklahoma, Bankrate utilized data from Quadrant Information Services and third-party sources to identify the cheapest carriers with excellent financial strength and high customer satisfaction ratings, as well as below-average rates.
The cheapest companies for minimum coverage in Oklahoma
Drivers in Oklahoma must carry a certain amount of car insurance. Minimum coverage policies are usually the cheapest option, but they also provide the least coverage. If you are interested in a minimum coverage car insurance policy, these five carriers offer cheap rates in Oklahoma:
|Car insurance company||Average annual minimum coverage premium||Average monthly minimum coverage premium|
|American Farmers & Ranchers Mutual||$343||$29|
The cheapest companies for full coverage in Oklahoma
Full coverage auto insurance policies offer more protection, but as a result, the premiums are more expensive. In addition to liability insurance, full coverage insurance also includes collision, comprehensive and medical payments coverage. In Oklahoma, the cheap car insurance companies for full coverage insurance include:
|Car insurance company||Average annual full coverage premium||Average monthly full coverage premium|
Events that can impact your cheap rates in Oklahoma
Car insurance rates are not locked in forever. Your premium can change over time based on certain events, like getting into an accident or adding a teen driver to your policy. Here are some of the scenarios that can cause your premium to increase:
- Insuring a teen driver: Adding a newly licensed driver to your policy will cause your rate to increase. However, you may be able to get a lower premium by taking advantage of discounts, like savings for good students. As the teen gets older, your car insurance rate will start to drop as long as they maintain a clean driving record while gaining more experience behind the wheel.
- Getting a speeding ticket: Getting a speeding ticket will likely impact your car insurance premium. In most cases, a speeding ticket stays on your record for three years from the date your ticket is processed, during which time you will pay a higher car insurance rate.
- Getting into an at-fault accident: An at-fault accident can stay on your record for up to five years. Once an accident shows up on your record, your insurance carrier will likely raise your rate upon your policy’s next renewal. You may be able to avoid the rate increase if you have accident forgiveness.
- Being considered a high-risk driver: High-risk drivers generally pay very expensive insurance premiums. High-risk drivers are typically individuals who have been convicted of a DUI or caught driving uninsured. High-risk drivers can still find affordable insurance, but it may be more difficult.
Cheapest cities in Oklahoma for minimum coverage
Where you live has a direct impact on the cost of your car insurance. Insurance rates in Oklahoma can vary significantly between ZIP codes, so if you move to a new city, it’s a good idea to re-shop for insurance to see if you can save money.
In the table below, you can see the cheapest cities in Oklahoma for minimum coverage insurance based on average rates in the state.
|City||Average annual minimum coverage premium||Average monthly minimum coverage premium|
Cheapest cities in Oklahoma for full coverage
The cost of full coverage insurance will also vary based on location. In general, full coverage insurance premiums are more expensive in areas with a high cost of living, high cost of auto repairs, high auto theft rate and so on. Here are the cheapest cities in Oklahoma for full coverage car insurance:
|City||Average annual full coverage premium||Average monthly full coverage premium|
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 physical damage protection, as well as medical payments coverage that will reimburse you for medical expenses after a crash you cause.
Here is how to find (and keep) cheap car insurance in Oklahoma
Once you find cheap car insurance in Oklahoma, it’s important to maintain your rate. Here are tips to help you get cheap insurance and keep your premium low:
- Take advantage of discounts. To find a cheap car insurance policy, look for insurance providers that offer multiple discounts you can qualify for. Oklahoma car insurance companies often provide savings for good students, claim-free drivers, bundling two or more policies with the same carrier, insuring multiple vehicles and enrolling in paperless statements.
- Be mindful of where you move in the state. If you are planning to move within Oklahoma, check the average car insurance rates in the area first if you can. You might decide to move to a ZIP code that has cheaper premiums to avoid a significant rate increase.
Frequently asked questions
What is the best car insurance in Oklahoma?
The cheapest car insurance in Oklahoma for one driver may be different for another, as pricing is based on a combination of unique factors like the car you drive and your driving history. To choose the best car insurance company in Oklahoma, you should evaluate companies based on the things that matter most to you, like good customer service, low rates or specific endorsements. Ultimately, the best provider is the one that can offer the lowest rate for the type and amount of coverage you want.
What is the average cost of car insurance in the U.S.?
Is car insurance required in Oklahoma?
All drivers in Oklahoma must maintain at least a minimum amount of car insurance, which includes bodily injury liability coverage of $25,000 per person and $50,000 per accident and property damage liability coverage of $25,000 per accident.
How can I lower my car insurance rates in Oklahoma?
There are lots of ways to get a cheaper car insurance premium in Oklahoma. First, make sure to take advantage of all the discounts you are eligible for. In addition, adjusting your coverage limits, raising your deductibles and paying your premium in full can help you save money. Over time, improving your credit score and maintaining a clean driving record may also help you get a cheaper rate.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. 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 2019 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.