How to Find Affordable Car Insurance in OK

Fran
Fran Majidi
November 3, 2020

In Oklahoma, the average car insurance premium is $1,787 per year, which is $239 more than the national average. That is a lot of money to pay for car insurance but there are things you can do to do to change that. There are tips and strategies for saving money on car insurance and we will get to those a little bit later on but first we will take a closer at car insurance in the Sooner State.

State Minimum Liability Requirements

If you ever cause a car accident, liability insurance pays for other people’s injuries and property damage up to your liability limit. Each state has minimum liability requirements for drivers in their state.

In Oklahoma, the minimum liability requirements are $25,000 bodily injury liability coverage per person, $50,000 bodily injury liability coverage per accident and $25,000 property damage liability coverage per accident.

This minimum liability coverage costs about $693 per year.

A More Robust Policy Costs More

In Oklahoma, a more robust policy with collision coverage and comprehensive coverage and $1,000 deductibles costs around $1,384.

Collision auto insurance is coverage that helps to replace or repair your car if it’s damaged in an accident with another vehicle or object such as a tree or a fence. Comprehensive auto insurance covers events that aren’t covered by collision coverage. These events include vandalism, fire, theft and damages from weather such as a tornado, a hurricane, a windstorm and a hailstorm.

If there is a loan on your car, your lender will require that you carry both collision insurance and comprehensive insurance.

A deductible is the amount you need to pay before your auto insurance company begins to pay for damages to your car or losses. Both collision coverage and comprehensive coverage require deductibles. Choosing a high deductible is one way to save money on your car insurance premium.

Oklahoma Is an At-fault State

When it comes to insurance, Oklahoma is an at-fault state. This means Oklahoma drivers are responsible for any damage they cause another vehicle. An insurance adjuster determines which driver is at fault in an accident.

Why Is Car Insurance So Expensive in Oklahoma?

One of the key factors to high auto insurance rates in Oklahoma is the weather, in particular hailstorms and tornadoes. These storms damage vehicles in Oklahoma. Collisions and vehicle theft are other factors.

Cheapest and Most Expensive Cities

In Oklahoma, the city with the cheapest car insurance is Duncan. The city with the most expensive car insurance is Tulsa.

Duncan is known for crape myrtle trees, Oklahoma prairie and rich farmland. Tulsa is located on the Arkansas River and is known for its art deco architecture.

How to Save Money on Car Insurance

Are you ready for those money-saving tips and strategies? Here they are.

Drive safely. If you are a safe and responsible driver and you follow the rules of the road you will save money on your car insurance. In Oklahoma, drivers without a recent, at-fault accident save 31 percent on their car insurance premiums. But if you break a few rules, premiums head way up. In Oklahoma, car insurance premiums increase by 30 percent after a DUI, 31 percent after an at-fault accident and 16 percent after a speeding ticket. So follow the rules of the road and save money on your auto insurance premium. If you have been a safe driver be sure to ask for a good driver discount. You’ve earned it with your driving behavior out on the road.

Give bundling a try. Bundle your auto insurance policy with another insurance policy such as a homeowners policy and save money.

Pay less often. Rather than paying monthly auto insurance bills, pay the entire annual amount or six-months amount. Your premium is lower when you pay just once or twice a year.

Use a multi-car discount. Got more than one car to insure? Insure them with the same auto insurance company and save money with a multi-car discount.

Insure less with an older car. The maximum payout for collision coverage and comprehensive coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry collision coverage and comprehensive coverage any longer.

Check anti-theft features. Having certain anti-theft features or safety features on your car will lower your car insurance. So check to see if the features on your car warrant a discount.

Examine memberships. Members of some professional organizations and affiliates get discounts on car insurance. So check your professional memberships and see if you are due a discount.

Be a lady driver. Women make fewer accident claims than men and are rewarded with lower auto insurance rates. Men make more accident claims and pay more.

Build up your credit score. Insurance companies have been using consumer credit data to assign risk pools and set insurance rates since the mid-1990s. Drivers with excellent credit scores get the lowest rates and drivers with no or poor credit pay the most for car insurance.

Looking for a way to improve your credit score? Get current on all past due accounts, pay down debt and stop taking on new debt. Also, get in the habit of paying your bills on-time. This will help you build up a positive payment history, which is good for your credit score.

Pick a high deductible. As mentioned earlier, choosing a high deductible is one way to lower your auto insurance premium, especially on new cars. Just be sure to put the deductible amount in a small emergency fund. This way the money will be there should you need to make an auto insurance claim.

Maintain your coverage. You’ll pay higher insurance rates if you don’t maintain continuous coverage of your car insurance. So stick with your coverage and save money.

Reach out for discounts. The good driver discount already has been mentioned. There are discounts for veterans and students as well. So be sure to reach out for discounts if you qualify.

Have low miles. If you have a heavy commute and rack up the miles you are going to pay more for your car insurance. Keep mileage low and you’ll save money on your car insurance. So drive less and pay less for your car insurance.

Be a married driver. If you are married, you will pay less for car insurance. There is a correlation between being married and exhibiting safe driving behavior. Because of this, married drivers pay less for auto insurance than singles.

Check your age. Drivers who are younger than 25 and older than 65 have more serious accidents and pay more for car insurance. Drivers of the ages in-between pay less.

Pick safety. If you live in a neighborhood with high accident claims and auto theft, you are going to pay more for your car insurance. If you live in a neighborhood with low accident claims and low crime, you will pay less for your car insurance. So pick a safe neighborhood and save money on your car insurance.

Buy a house. Statistics show people who own homes drive more safely. So let your insurance company know that you own a home and enjoy the savings on your car insurance premium.

Shop around. One of the best ways to save money on a car insurance premium is to shop around. You will want to get insurance quotes from several different car insurance companies. SmartFinancial makes this easy to do. Just input the type of insurance you are looking for and a zip code to get started. Next, answer a few, quick questions and you’ll be comparing auto insurance rates in Oklahoma in no time.

SmartFinancial has access to more than 200 insurance companies so you’re bound to find the insurance coverage and price that you want. So shop smart for car insurance and drive safely along the roadways of the Sooner State.

Get a Free Auto Insurance Quote Online Now.

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