Which Company Has the Lowest Cost of Car Insurance in Oklahoma City?

Oklahoma City is the largest city as well as the capital of Oklahoma. With a population of 649,021 in 2018, it may not seem large at first glance, but the Oklahoma City metropolitan area is home to 1,396,455 people. The average city resident drives 21.3 miles to work, and the average household owns two vehicles. That means a married couple living and working in Oklahoma City spends a combined total of about an hour and a half driving their work commutes alone in a day, so reliable transportation is a must-have for those living in the city. A 5-day week of driving to work will mean just over 7 hours of driving, and that is before you consider going out for groceries, kids school activities, and any trips for family entertainment.

In 2018, there were 5,487 vehicle thefts in the Oklahoma City area. This was an average of 392.93 per 100k residents and put Oklahoma at #43 for thefts out of many large cities in the US. Both the average commute and the number of thefts in an area can affect the premium you pay for your car insurance.

If you have a loan on your car or truck your contract will almost certainly require you to carry full insurance coverage on the vehicle so that the lender can be reimbursed in case of an accident. However, many people begin to be confused by vehicle insurance when they own their car outright, because you have more options you can choose to opt out of if your focus is on saving money on your vehicle insurance policy. By becoming informed about policy options and riders you can make an informed decision, save money, and still drive with confidence, knowing you have the best coverage that meets your personal needs.

How Much Car Insurance Coverage Do I Need in Oklahoma City

In Oklahoma City you are required to carry:

  • Bodily injury coverage of $25,000 with a maximum of $50,000 per incident
  • Personal property protection up to $25,000 damages to another person’s property

This is commonly referred to by the local insurance industry as 25/50/25 coverage.

While that may seem like plenty of insurance, when you look at the amounts in reference to coverage you might realize that it isn’t. If someone is seriously injured in an accident, the medical costs can easily go above $25,000, leaving you with thousands of dollars to pay out of pocket. Likewise, if you have $25,000 coverage for property damages and hit a brand-new truck, the costs can easily be doubled.

You should also look at what isn’t covered, such as having your vehicle stolen or vandalized, being hit by an uninsured driver, or damages from falling trees, hail, or other weather factors. These and other items are add-ons to a basic insurance policy. Sometimes, a policy that covers these things is referred to as a comprehensive policy.

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Oklahoma City by Insurer

If finances are your chief concern, you probably already know how hard it is to shop for auto insurance. The following guide shows the companies and insurers with the cheapest vehicle insurance rates in Oklahoma City; note that these are average rates and yours may be higher or lower depending on your insurance profile or your exact location in the city.

Use this guide to compare the best auto insurance premiums by company.

Low Cost Auto Insurance for Bad Credit in Oklahoma City

Your car insurance rate is based on many factors such as age, gender, driving experience, and driving record. One of the biggest factors is your credit rating; if you have bad credit you may see substantially higher rates. The following chart showcases companies that specialize in insuring those with less than stellar credit ratings.

Use our bad credit guide to find companies that offer lower premiums for bad credit drivers.

Differences Between the Two Main Coverages

What is Liability Only Insurance Coverage?

Liability insurance covers the possible cost of damage you cause to others while driving. This could mean the cost of medical care for those injured in an accident or repair costs of the damage you have caused to other vehicles.

With liability insurance, there are 3 key numbers: injury coverage per person, coverage for total injury per accident, and property damage coverage per accident. Each state has different requirements for car insurance minimums. In a policy that has coverage for 15/30/25 means $15,000 per injured person, with a maximum of $30,000 for all the people who are injured in an accident, and $25,000 in coverage for property damage.

Why You May Want Full Coverage Car Insurance

While liability insurance covers other people and vehicles in an accident where you were the one considered at fault, full coverage insurance can also cover you and your vehicle as well. Full coverage includes two different types of coverage combined into one insurance plan; comprehensive insurance and collision.

Comprehensive coverage is for the damage of other vehicles that are outside of driving situations such as weather damage, fire, or theft.

Collision coverage is basically to pay for damage that you caused while driving such as an accident with another vehicle, hitting an object, or driving off the road.

The difference between collision and comprehensive is, if a tree were to fall on your car and damage it, comprehensive insurance would cover it, however, if you were driving and hit a tree causing damage to your car, then it would be covered by collision.

Difference Between the Two Types of Coverage

Liability and Full coverage policies have many distinctions but the chief one is that under a liability policy your car is not covered. If you are in an accident and are found at-fault, your liability policy will cover the other driver and her passengers. A full coverage policy, on the other hand, covers damage done to your car as a result of a wide range of accidents, even if you are at-fault. These policies also differ when it comes to premium payments.

Average Annual Car Insurance Rates in Oklahoma by City

Additional cities in Oklahoma you can check out.



Take Advantage of These Car Insurance Discounts

There are many ways that you can save on auto insurance in Oklahoma City:

  • Raise your deductible

    If you are willing to pay more money for a deductible, in the event of an accident, then you can lower your insurance rates substantially. You can lower your premium to around 10% just by raising your deductible to around $1,000.

  • Drop Collision Coverage on Old Cars

    Dropping collision coverage on older cars can really help save you a lot, especially for cars that are more than ten years old and only worth four or five thousand dollars. Think about it, if you have an accident while driving an older car, are you really going to pay to repair it or just buy a new car?

  • Check Insurance Rates for Your Car’s Make and Model

    The make and model of your car can make a big difference in how much you pay for auto insurance. Therefore, before purchasing a new car, be sure and check the insurance rates for it as some can be much higher than others.

  • Shop Around to Check Rates from Numerous Insurance Companies

    The chart in this article should be enough proof to know that there can be a big difference in what various insurance companies charge for auto insurance. That is why it is a good idea to check rates from a number of insurance companies before deciding which plan to choose.

  • Drive Fewer Miles

    One of the questions asked when applying for auto insurance rates, is how many miles you drive regularly. This is because the more miles you drive, the more risk you are to the insurance company and the higher your insurance cost will be. Try to drive fewer miles, if possible, to save more money on your premiums.

  • Maintain a Good driving record

    Being a safe driver can not only save your life, but it can also save you a lot of money, too. There is a big difference in how much people with accidents on their record have to pay, and what those without any accidents pay. Therefore, always drive safely.

  • Live in a less populated area

    Your location matters when it comes to auto insurance rates. If you live in a highly populated area, your rates will be higher than if you live in a lower-population area. The Jefferson and New Orleans areas have some of the highest rates in Louisiana, but if you live just 30 minutes outside of the city, you can expect your rates to go down.

To learn more about the common and uncommon driver discounts, click here.

What are the Factors that Affect Your Auto Insurance Premiums?

Your car insurance rates can change over time. One of the most reliable factors that will impact your premiums is your age. The older you are, the lower your insurance premiums should be. You may also find your rates vary depending on the car you drive. Sports cars or jeeps may incur higher premiums, while SUVs and sedans are cheaper to insure.

Rates are also impacted by your gender and age, though young women will have lower rates than their same-aged male friends. Actuarial tables show that young drivers are more prone to speeding, alcohol infractions, and accidents than older people, as are young males rather than females.

You can also reduce your regular premium payments by opting for a higher deductible on your collision and comprehensive coverage packages. You can also opt to pay your premium in a larger, single payment every six months rather than spreading the premium out over monthly payments.

Use this guide to find low cost rates with accidents from the top insurance companies.

Helpful Oklahoma City, OK Vehicle Resources:

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