The words “low-cost” and “auto insurance” really should not be used together, in particular when comparison shopping for the lowest insurance prices for first-time drivers. Because it’s so expensive, let’s get started by showing you some of the factors that significantly impact car insurance premiums, and find a way to lower the cost of your next policy.
Finding out which companies have the best car insurance rates for first-time drivers calls for a little more work in order to find a policy that fits your budget.
Each auto insurance company has their own formula to set their prices, so to begin we’ll rank the car insurance companies with the overall cheapest rates in Oklahoma City, OK.
Cheapest Insurance Rates for Inexperienced Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,150 |
| 2 | Oklahoma Farmers Union | $1,202 |
| 3 | The Hartford | $1,319 |
| 4 | GEICO | $1,340 |
| 5 | Safe Auto | $1,377 |
| 6 | Farmers | $1,436 |
| 7 | State Farm | $1,521 |
| 8 | Liberty Mutual | $1,852 |
| 9 | Travelers | $1,906 |
| 10 | Mercury | $2,053 |
| 11 | OK Farm Bureau | $2,058 |
| 12 | Home State | $2,149 |
| 13 | Progressive | $2,179 |
| 14 | Shelter | $2,194 |
| 15 | MetLife | $2,213 |
| 16 | Allstate | $2,472 |
| 17 | Safeco | $5,056 |
| Find Cheaper Rates Go | ||
USAA normally has some of the most affordable car insurance rates in Oklahoma City at around $1,150 per year. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto are also some of the more affordable Oklahoma City, OK insurance companies.
As the rates illustrate above, if you have coverage with GEICO and switched to Oklahoma Farmers Union, you may see an annual savings of approximately $138. Policyholders with Safe Auto might save as much as $175 a year, and Farmers policyholders might reduce prices by as much as $234 a year.
If you want to find out if you’re overpaying, click here or visit any of the companies below.
Understand that those policy rates are averages across all drivers and vehicles and do not take into consideration a vehicle location for first-time drivers. So the company that can offer you the best rate may not even be in the top 17 companies shown above. That underscores the importance of why you need to get quotes using your own driver information and specific vehicle type.
The make and model of vehicle requiring coverage is one of the primary factors that determines if you can find the most affordable coverage for first-time drivers. Vehicles with lower performance, advanced safety features, or a positive history of liability claims will cost much less to insure than adrenaline junky models.
The next list shows coverage rates for some of the most cost-effective automobiles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $4,848 |
| Honda CR-V EX 4WD | $4,893 |
| Toyota Prius | $5,238 |
| Ford Edge SE 2WD | $5,407 |
| Dodge Grand Caravan SE | $5,452 |
| Honda Odyssey EX | $5,704 |
| Jeep Grand Cherokee Laredo 4WD | $5,749 |
| GMC Sierra SLE Crew Cab 2WD | $5,755 |
| Chevrolet Impala LT | $5,749 |
| Toyota RAV4 Limited 4WD | $5,754 |
| Ford F-150 XLT Crew Cab 4WD | $5,796 |
| Ford Explorer Limited 2WD | $5,806 |
| Chevrolet Malibu LT | $5,796 |
| Ford Focus SEL 4-Dr Sedan | $6,002 |
| Toyota Tacoma X-Runner 2WD | $6,046 |
| Toyota Camry XLE | $6,055 |
| Hyundai Elantra GLS 4-Dr Sedan | $6,046 |
| Toyota Corolla LE | $6,052 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $6,086 |
| Nissan Altima 3.5 SR 4-Dr Sedan | $6,094 |
| Ford Fusion Sport 4-Dr Sedan | $6,099 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $6,094 |
| Chevrolet Silverado LTZ Extended Cab 4WD | $6,103 |
| Compare Cheap Rates Go | |
Premium data assumes single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, and safe-driver. Table data does not factor in specific location which can lower or raise rates substantially.
Looking at the numbers, you can figure that models like the Ford Escape, Honda CR-V, and Toyota Prius are the more affordable vehicles to insure for new drivers. The price of auto insurance will tend to be more expensive because of the fact that there is more inherent risk for first-time drivers, but in general those particular vehicles will have the lowest insurance prices available.
How violations and accidents impact rates
The easiest method to obtain the cheapest car insurance premiums in Oklahoma City for new drivers is to pay attention while driving and not get tickets or have accidents. The information below highlights how traffic violations and at-fault fender-benders can increase insurance costs for different age categories. The rate quotes are based on a single female driver, full coverage, $500 deductibles, and no discounts are applied.
In the previous example, the average cost of an auto insurance policy in Oklahoma per year with no violations or accidents is $2,008. Factor in one speeding ticket and the average cost increases to $2,277, an increase of $270 each year. Now get two accidents along with the one speeding ticket and the annual cost of car insurance for first-time drivers increases to an average of $4,695. That’s an increase of $2,687, or $224 per month, just for not paying attention while driving!
Choosing a highly-rated insurer is hard considering how many choices drivers have in Oklahoma. The rank data in the next section can help you decide which car insurance providers you want to consider when looking for cheaper rates.
The rankings below are for major nationwide insurance companies, so companies that may only write in Oklahoma are not factored into these rankings. To compare prices from these and other companies in Oklahoma, follow this link.
Top 10 Major Auto Insurers in Oklahoma City Ranked by Customer Service
- USAA
- Travelers
- Mercury Insurance
- Safeco Insurance
- Nationwide
- AAA Insurance
- State Farm
- Progressive
- The Hartford
- The General
Top 10 Major Auto Insurers in Oklahoma City Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
How to get discounts on Oklahoma City insurance rates
Car insurance companies that provide policies for first-time drivers could also offer discounts that could potentially reduce rates by 30% or more if you can meet the requirements. Companies and a summarized list of policyholder discounts are outlined below.
- Farm Bureau may include discounts for youthful driver, good student, safe driver, renewal discount, and 55 and retired.
- State Farm includes discounts for safe vehicle, multiple autos, defensive driving training, multiple policy, and student away at school.
- Progressive has savings for good student, online quote discount, online signing, multi-policy, multi-vehicle, and continuous coverage.
- Allstate may offer discounts for senior citizen, auto/life discount, 55 and retired, premier discount, resident student, and multi-policy.
- Nationwide offers premium reductions for business or organization, good student, multi-policy, family plan, and easy pay.
- MetLife has discounts for defensive driver, multi-policy, claim-free, good driver, and good student.
The chart below visualizes the comparison of auto insurance rates with and without discounts applied to the rates. The price estimates are based on a male driver, no accidents or driving violations, Oklahoma state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with paperless filing, vehicle safety, continuous coverage, paid-in-full, anti-theft, and passive restraint discounts applied. When discounts are applied, the average savings per year on car insurance for first-time drivers is 28% or $701.
How to find economical car insurance for first-time drivers
The list below shows some of the better penny-pinching suggestions that can help drivers get cheaper auto insurance.
- Do not file small claims
- Avoid accidents
- Increase deductibles to save money
- Older vehicles may not need full coverage
- Speeding tickets and other violations increase rates
- Compare price quotes at least once a year
That last tip is particularly important, as we stressed in this piece. Coverage prices adjust frequently, so don’t hesitate to buy from a different company if a better rate can be found. Loyalty to a specific company is fine, but it’s not a great idea if that dedication is costing hundreds of dollars a year. Now is a great time to shop around and find cheaper car insurance for first-time drivers in Oklahoma City.