The words “low-priced” and “insurance” probably shouldn’t be used together, especially when you are shopping around for the lowest insurance prices for high mileage drivers. To help control this cost, let’s start the ball rolling by going over some of the things that impact car insurance rates, and figure out some ideas to take the sting out of the next policy you buy.
One of the more important things that determine the price you pay for insurance is where your residence is in Oklahoma City. Areas with more people or higher crime rates tend to pay more, whereas areas that tend to be more rural profit from lower rates.
The table below rates the most expensive cities in Oklahoma for high mileage drivers to buy car insurance in. Oklahoma City is ranked at #8 with an annual premium of $2,113 for the average policy, which is around $176 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Tulsa | $2,259 |
| 2 | Sand Springs | $2,227 |
| 3 | Bixby | $2,213 |
| 4 | Del City | $2,155 |
| 5 | Broken Arrow | $2,151 |
| 6 | Midwest City | $2,140 |
| 7 | Bethany | $2,135 |
| 8 | Oklahoma City | $2,113 |
| 9 | Edmond | $2,105 |
| 10 | Owasso | $2,085 |
| 11 | Sapulpa | $2,081 |
| 12 | Moore | $2,069 |
| 13 | Yukon | $2,055 |
| 14 | Shawnee | $2,048 |
| 15 | Claremore | $2,048 |
| 16 | Norman | $2,013 |
| 17 | Stillwater | $1,989 |
| 18 | Muskogee | $1,943 |
| 19 | Enid | $1,942 |
| 20 | Ardmore | $1,936 |
| 21 | Duncan | $1,923 |
| 22 | Bartlesville | $1,922 |
| 23 | Ponca City | $1,918 |
| 24 | Lawton | $1,865 |
| 25 | Altus | $1,838 |
| Compare Prices Now Go | ||
Premium costs are approximated as the garaging address in Oklahoma City can alter price quotes noticeably.
Deciding which companies have the lowest-priced auto insurance rates for high mileage drivers will require a little more work in order to find the best price. Each insurance company uses a different method to establish rates, so let’s take a look at the most affordable auto insurance companies in Oklahoma.
It’s important that you understand Oklahoma City, OK auto insurance rates are determined by lots of factors which can significantly increase or decrease the cost of a policy. Simply getting older, buying a home, or getting a DUI may generate price changes resulting in some rates now being much cheaper than others.
Best Insurance Companies in Oklahoma
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Oklahoma Farmers Union | $1,154 |
| 2 | USAA | $1,161 |
| 3 | GEICO | $1,353 |
| 4 | The Hartford | $1,359 |
| 5 | Farmers | $1,380 |
| 6 | Safe Auto | $1,405 |
| 7 | State Farm | $1,568 |
| 8 | Liberty Mutual | $1,816 |
| 9 | Travelers | $1,925 |
| 10 | OK Farm Bureau | $2,018 |
| 11 | Mercury | $2,033 |
| 12 | Home State | $2,128 |
| 13 | Shelter | $2,129 |
| 14 | MetLife | $2,147 |
| 15 | Progressive | $2,179 |
| 16 | Allstate | $2,472 |
| 17 | Safeco | $5,158 |
| Get Personalized Rates Go | ||
Oklahoma Farmers Union may offer some of the best car insurance rates in Oklahoma City at around $1,154 a year. USAA, GEICO, The Hartford, and Farmers are also some of the cheapest Oklahoma City, OK car insurance companies.
As illustrated above, if you are a customer of GEICO and switched to Oklahoma Farmers Union, you might achieve an annual premium reduction of roughly $199. Oklahoma drivers with The Hartford may save as much as $205 a year, and Farmers insureds might reduce prices by as much as $226 a year.
Be aware that those policy rates are averaged across all drivers and vehicles in Oklahoma and and are not calculated with a specific vehicle garaging location for high mileage drivers. So the car insurance company that can offer you the lowest price may not even be in the list above. That affirms the importance of why you need to compare rates from multiple companies using your own personalized driver profile and vehicle information.
Cost difference between full coverage and liability
Reducing the cost of auto insurance is important to the majority of people, and one of the fastest ways to pay lower rates for insurance for high mileage drivers is to not buy full coverage. The illustration below shows the difference between annual premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on a clean driving record, no claims, $250 deductibles, drivers are not married, and no other discounts are factored in.
On average, comp and collision coverage costs an extra $3,141 per year more than insuring for liability only. That amount may make you wonder if buying full coverage is a waste of money. There is no definitive rule for phasing out physical damage coverage, but there is a general guideline. If the annual cost of having full coverage is more than 10% of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
Poor driving habits will raise your auto insurance rates
In a perfect world, the ideal way to maintain the cheapest auto insurance prices in Oklahoma City for high mileage drivers is to be a good driver and avoid tickets and accidents. The chart below demonstrates how citations and at-fault claims can impact car insurance rates for each age group. The data is based on a single female driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
In the previous example, the average cost of an auto insurance policy in Oklahoma City per year with no accidents and a clean driving record is $1,792. Get two speeding tickets and the average cost rises to $2,387, an increase of $595 each year. Now add in two accidents along with the two speeding tickets and the 12-month cost of auto insurance for high mileage drivers goes up to an average of $4,874. That’s an increase of $3,082, or $257 per month, just for not paying attention while driving!
The chart below illustrates how choosing a deductible can raise or lower insurance costs when trying to find cheap insurance for high mileage drivers. Data assumes a single male driver, comp and collision included, and no policy discounts are applied.
In the chart above, a 40-year-old driver could save $370 a year by changing from a $100 deductible up to a $500 deductible, or save $558 by switching to a $1,000 deductible. Younger drivers, like the Age 20 category, could reduce their rates $1,208 or more by choosing larger deductibles on their policy. When raising deductibles, it is important to have additional funds squirreled away to allow you to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.