Affordable OKC Auto Insurance
Even though it can be expensive, paying for car insurance is required in Oklahoma but also provides important benefits. Understanding the protection provided by a good insurance policy helps make it easier to find affordable coverage in Oklahoma City and surrounding areas.
First, almost all states have mandatory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability protection in order to license the vehicle. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
Second, if you bought your vehicle with a loan, almost all lenders will require you to carry insurance to ensure they get paid if you total the vehicle. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your vehicle for a much higher rate and force you to pay for it.
Third, insurance protects not only your vehicle but also your financial assets. Insurance will also pay for medical transport and hospital expenses for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive coverages will pay to restore your vehicle to like-new condition.
The benefits of insuring your car are definitely more than the cost, especially with large liability claims. The average driver in Oklahoma overpays more than $865 each year so you should quote and compare rates at every policy renewal to help ensure money is not being wasted.
The cost of auto insurance coverage is dependent on many factors, but the average price in Oklahoma City is approximately $1,400 per year. The national average roughly $1,200, so Oklahoma City residents pay about $172 more each year than other American drivers.
Auto insurance rates in Oklahoma City are calculated based upon a lot of variables, and one of the larger determinants is the car, truck, or SUV you are insuring. The next table shows the policy premium for the best selling vehicles in Oklahoma City.
| Make, Model, and Trim Level | Annual Cost | Semi-Annual Cost | Monthly Cost |
|---|---|---|---|
| Chevrolet Silverado LT Extended Cab 4WD | $1,362 | $681 | $114 |
| Dodge Ram Crew Cab ST 2WD | $1,478 | $739 | $123 |
| Ford Edge SEL 2WD | $1,326 | $663 | $111 |
| Ford Escape XLS 2WD | $1,152 | $576 | $96 |
| Ford F-150 Lariat Crew Cab 2WD | $1,398 | $699 | $117 |
| Ford Focus SES 4-Dr Sedan | $1,408 | $704 | $117 |
| Honda Accord EX-L 2-Dr Coupe | $1,560 | $780 | $130 |
| Honda CR-V LX 4WD | $1,152 | $576 | $96 |
| Honda Civic EX-L 2-Dr Coupe | $1,682 | $841 | $140 |
| Hyundai Elantra GLS 4-Dr Sedan | $1,444 | $722 | $120 |
| Hyundai Sonata Limited 4-Dr Sedan | $1,560 | $780 | $130 |
| Kia Optima EX | $1,560 | $780 | $130 |
| Nissan Altima 2.5 4-Dr Sedan | $1,362 | $681 | $114 |
| Toyota Camry XLE | $1,444 | $722 | $120 |
| Toyota Corolla XLE | $1,444 | $722 | $120 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,362 | $681 | $114 |
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Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Rates do not factor in specific location information which can change coverage prices substantially.
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Accidents and violations increase rates
The chart below shows how speeding tickets and at-fault fender-benders can affect yearly insurance costs for each different age group. The premiums assume a married female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are taken into consideration.
How to find cheaper Oklahoma City car insurance rates
Affordable auto insurance prices can be found by following these four steps.
Step 1: Try to comprehend how your policy works and the measures you can control to lower rates. Many risk factors that increase rates such as distracted driving and a not-so-good credit rating can be improved by making minor changes to your lifestyle.
Step 2: Compare rates from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from one company like Progressive or State Farm, while independent agencies can provide price quotes for a wide range of companies.
Step 3: Compare the new rate quotes to your current policy premium to see if you can save by switching companies. If you find a lower rate and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
Step 4: Give notification to your current company to cancel your existing policy and submit payment along with a signed and completed policy application to the newly selected company. Immediately store the proof of insurance certificate above your visor, in the console, or in the glove compartment.
A crucial key to this process is to compare the same liability limits and deductibles on each quote and to quote with as many carriers as you can. Doing this enables a level playing field and maximum price selection.