Feel like you’re a prisoner to an expensive car insurance policy? Trust us, there are many Oklahoma City consumers feeling the pinch from expensive car insurance.
Regrettably, the vast majority of Oklahoma car insurance customers have purchased from the same company for at least the last four years, and roughly 40% of drivers have never even compared quotes to find affordable rates. Consumers in America could pocket as much as 47% a year just by getting comparison quotes, but most tend to underestimate the amount of savings they would get if they swap their current policy for a cheaper one.
How to find low-cost rates for Toyota 4Runner insurance in Oklahoma City
The recommended way to get more affordable Toyota 4Runner insurance is to compare prices at least once a year from providers that sell auto insurance in Oklahoma City. Price quotes can be compared by following these steps.
- Step 1: It will benefit you to learn about how companies price auto insurance and the steps you can take to drop your rates. Many risk factors that drive up the price like traffic violations, accidents, and a poor credit rating can be improved by being financially responsible and driving safely. Continue reading for ideas to prevent high rates and find overlooked discounts.
- Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like GEICO or Allstate, while independent agents can quote rates for a wide range of insurance providers. Click to view companies
- Step 3: Compare the new rate quotes to your existing rates and see if there is a cheaper rate in Oklahoma City. If you find a lower rate, verify that coverage does not lapse between policies.
- Step 4: Give proper notification to your current agent or company of your intention to cancel your current policy. Submit a down payment along with a signed application to your new company or agent. Once the application is submitted, keep the new certificate verifying proof of insurance in an accessible location in your vehicle.
An important note is to make sure you’re comparing identical deductibles and limits on every quote and and to get price quotes from as many auto insurance providers as possible. This provides a fair price comparison and the best price selection.
There are many car insurance companies to choose from, and although it’s a good thing to have a choice, more options can take longer to find the best rates for Toyota 4Runner insurance in Oklahoma City.
Get cheaper rates on Toyota 4Runner insurance in Oklahoma City with these car insurance discounts
Companies that sell car insurance don’t list all available discounts in a way that’s easy to find, so the below list has a few of the more well known and the harder-to-find credits available to you. If you check and find you aren’t receiving every discount available, you’re paying more than you need to.
- Discount for Home Ownership – Owning a house in Oklahoma City may trigger a policy discount on car insurance because of the fact that having a home means you have a higher level of financial diligence.
- Cautious Driver Discount – Drivers who avoid accidents could pay up to 40% less than their less cautious counterparts.
- Professional Organizations – Having an affiliation with qualifying clubs or civic groups can get you a small discount on car insurance.
- Anti-lock Brake System – Vehicles with ABS and/or traction control can stop better under adverse conditions and will save you 10% or more on 4Runner insurance in Oklahoma City.
- Buy New and Save – Insuring a vehicle that is new can be considerably cheaper because newer vehicles are generally safer.
- Driver’s Ed – Cut your cost by having your teen driver successfully take a driver’s education course in high school.
- Student in College – Youth drivers who attend college more than 100 miles from Oklahoma City without a vehicle on campus may be able to be covered for less.
- Life Insurance Discount – Select insurance carriers reward you with a discounted price on car insurance if you buy life insurance from them.
- Multiple Cars – Buying a policy with multiple cars or trucks with the same car insurance company qualifies for this discount.
- Multi-policy Discount – If you combine your homeowners and auto policies with one company they may give you a discount of approximately 10% to 15%.
Keep in mind that most discount credits are not given to all coverage premiums. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. Despite the appearance that you would end up receiving a 100% discount, companies don’t profit that way.
The illustration below illustrates the difference between Toyota 4Runner insurance prices with and without discounts applied to the premium. The premium estimates are based on a female driver, no claims or driving citations, Oklahoma state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, safe-driver, homeowner, multi-car, marriage, and claim-free discounts applied.
Car insurance companies that possibly offer most of these discounts include:
When comparing rates, check with each company how many discounts you can get. Some discounts might not apply in Oklahoma City. To see companies who offer car insurance discounts in Oklahoma City, click this link.
When looking for cheaper Oklahoma City auto insurance quotes, there are a couple ways of comparing price quotes from different companies. The quickest method to do a complete rate comparison is to get quotes online.
Online shopping is fast and free, and it makes it obsolete to drive around to each insurance agency near you. Quoting and buying Toyota 4Runner insurance online eliminates the middleman unless your situation requires the trained advice of a local Oklahoma City agent. Although you can comparison shop online but purchase the actual policy in an agency. Just keep in mind that comparing more quotes helps locate a lower rate. Not every company provides rate quotes online, so it’s necessary to compare quotes from them as well.
The auto insurance companies shown below are ready to provide comparison quotes in Oklahoma. If multiple companies are listed, we recommend you compare several of them in order to find the most affordable rates.
Toyota 4Runner insurance rate analysis
The data table shown next outlines detailed analysis of policy rates for Toyota 4Runner models. Having a better understanding of how rates are determined can help customers make decisions on the best policy coverages.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 4Runner Sport 2WD | $186 | $250 | $358 | $22 | $108 | $924 | $77 |
| 4Runner SR/5 2WD | $186 | $304 | $358 | $22 | $108 | $978 | $82 |
| 4Runner Sport 4WD | $186 | $304 | $358 | $22 | $108 | $978 | $82 |
| 4Runner SR/5 4WD | $186 | $304 | $358 | $22 | $108 | $978 | $82 |
| 4Runner Trail Edition 4WD | $208 | $360 | $358 | $22 | $108 | $1,056 | $88 |
| 4Runner Limited 2WD | $208 | $360 | $358 | $22 | $108 | $1,056 | $88 |
| 4Runner Limited 4WD | $208 | $360 | $358 | $22 | $108 | $1,056 | $88 |
| Get Your Own Custom Quote Go | |||||||
Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Rate quotes do not factor in vehicle location which can affect premiums significantly.
Where to set your deductibles
One of the more difficult decisions when buying insurance is what deductibles to buy. The following tables may help to illustrate how much more you’ll pay when you buy lower versus higher coverage deductibles. The first data set uses a $100 physical damage coverage deductible and the second data table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 4Runner Sport 2WD | $436 | $572 | $382 | $22 | $114 | $1,551 | $129 |
| 4Runner SR/5 2WD | $436 | $698 | $382 | $22 | $114 | $1,677 | $140 |
| 4Runner Sport 4WD | $436 | $698 | $382 | $22 | $114 | $1,677 | $140 |
| 4Runner SR/5 4WD | $436 | $698 | $382 | $22 | $114 | $1,677 | $140 |
| 4Runner Trail Edition 4WD | $486 | $822 | $382 | $22 | $114 | $1,851 | $154 |
| 4Runner Limited 2WD | $486 | $822 | $382 | $22 | $114 | $1,851 | $154 |
| 4Runner Limited 4WD | $486 | $822 | $382 | $22 | $114 | $1,851 | $154 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| 4Runner Sport 2WD | $318 | $388 | $382 | $22 | $114 | $1,224 | $102 |
| 4Runner SR/5 2WD | $318 | $472 | $382 | $22 | $114 | $1,308 | $109 |
| 4Runner Sport 4WD | $318 | $472 | $382 | $22 | $114 | $1,308 | $109 |
| 4Runner SR/5 4WD | $318 | $472 | $382 | $22 | $114 | $1,308 | $109 |
| 4Runner Trail Edition 4WD | $354 | $554 | $382 | $22 | $114 | $1,426 | $119 |
| 4Runner Limited 2WD | $354 | $554 | $382 | $22 | $114 | $1,426 | $119 |
| 4Runner Limited 4WD | $354 | $554 | $382 | $22 | $114 | $1,426 | $119 |
| Get Your Own Custom Quote Go | |||||||
Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Prices do not factor in specific location information which can modify auto insurance rates substantially.
Based on the above data, using a $100 deductible will cost you about $32 more each month or $384 annually across all Toyota 4Runner models than requesting the higher $500 deductible. Since you would have to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you average at least 13 months between claim filings, you would most likely save money if you choose a higher deductible. The illustration below shows how you can do this calculation yourself.
| Average monthly premium for $100 deductibles: | $144 |
| Average monthly premium for $500 deductibles (subtract): | – $112 |
| Monthly savings from raising deductible: | $32 |
| Difference between deductibles ($500 – $100): | $400 |
| Divide difference by monthly savings: | $400 / $32 |
| Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible | 13 months |
Cost difference between full coverage and liability
The illustration below shows the comparison of Toyota 4Runner yearly insurance costs when comparing full coverage to state minimum liability only. The premiums are based on no claims, a clean driving record, $100 deductibles, marital status is single, and no discounts are taken into consideration.
Guidelines for eliminating full coverage
There is no clear-cut rule of when to eliminate full coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is 10% or more of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.
For example, let’s assume your Toyota 4Runner settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $5,000 after paying your deductible. If premiums are more than $500 annually for your policy with full coverage, then you might consider buying liability only.
There are some situations where removing full coverage is not a good idea. If you still have a lienholder on your title, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.
How do Insurers Determine Toyota 4Runner Insurance Rates?
A large part of saving on auto insurance is knowing some of the things that help determine the level of your policy premiums. When you understand what influences your rates, this helps enable you to make changes that can earn you much lower annual insurance costs. Many factors are part of the equation when pricing auto insurance. Some are obvious like a motor vehicle report, although some other factors are less obvious like your vehicle usage and annual miles driven.
- Credit score impacts premium costs – Your credit rating factor in determining what you pay. So if your credit history leaves room for improvement, you could be paying less to insure your Toyota 4Runner if you clean up your credit. Consumers who have very good credit scores tend to file fewer claims than those with lower credit scores.
- Never let your auto insurance policy lapse – Allowing your auto insurance policy to lapse is a sure-fire way to trigger a rate increase. And not only will insurance be more expensive, the inability to provide proof of insurance could earn you fines or a revoked license. You will then be forced to prove you have insurance by filing a SR-22 with the Oklahoma motor vehicle department.
- Stay claim-free and save – If you file claims often, you can expect either policy cancellation or increased premiums. Companies in Oklahoma give lower rates to insureds who do not file claims often. Your insurance policy is intended for more catastrophic claims.
- Your address can push rates up or down – Residing in less populated areas of the country is a good thing when it comes to auto insurance. People in densely populated areas regularly have congested traffic and longer commute times. Less people living in that area means a lower chance of having an accident in addition to lower liability claims.
-
Insurance loss data for a Toyota 4Runner – Companies study historical loss data when they calculate premium costs for each model. Models that the statistics show to have higher claim amounts or frequency will have a higher cost to insure.
The table shown below demonstrates the historical insurance loss data for Toyota 4Runner vehicles. For each coverage type, the claim amount for all vehicles, regardless of make, model or trim level, is a value of 100. Numbers shown that are under 100 are indicative of better than average losses, while percentage values above 100 point to more losses or tendency to have higher losses.
Insurance Loss Ratings for Toyota 4Runner Vehicles Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota 4Runner 4dr 2WD 75 92 83 76 66 75 Toyota 4Runner 4dr 4WD 78 88 110 67 59 74 BETTERAVERAGEWORSEData Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Buying insurance from Oklahoma City auto insurance agents
Some people would rather have an agent’s advice. One of the best bonuses of comparing rates online is the fact that you can find cheap insurance quotes but also keep your business local. And supporting local agents is still important in Oklahoma City.
Upon completion of this quick form, your coverage information is immediately sent to insurance agents in Oklahoma City that provide free Oklahoma City auto insurance quotes for your business. It simplifies rate comparisons since you won’t have to contact any insurance agencies since price quotes are sent directly to your email. You can get cheaper insurance rates without a big time investment. If for some reason you want to get a comparison quote from a specific company, you can always find their quoting web page and fill out the quote form the provide.
When searching for a reliable insurance agency, you should know the different types of agents and how they can write your policy. Insurance policy providers are classified as either independent agents or exclusive agents depending on their employer.
Independent Insurance Agencies
These agents are normally appointed by many insurers so as a result can place your coverage through many companies depending on which coverage is best. If premiums increase, an independent agent can move your coverage which is easy for the insured.
If you are comparing rate quotes, we recommend you get insurance quotes from a couple of independent agencies so that you have a good selection of quotes to compare.
Below are Oklahoma City independent insurance agencies that can give you free insurance rate quotes.
Shelton Agency
6401 NW Expressway # 100B – Oklahoma City, OK 73132 – (405) 384-1518 – View Map
Thomas Baste Insurance Agency
8503 S Western Ave – Oklahoma City, OK 73139 – (405) 604-5600 – View Map
Action Plus Insurance Agency
9005 S May Ave – Oklahoma City, OK 73159 – (405) 631-9009 – View Map
Exclusive Insurance Agencies
Agents that elect to be exclusive write business for a single company like Farmers Insurance or State Farm. Exclusive agents are unable to provide rate quotes from other companies so keep that in mind. Exclusive insurance agents are very knowledgeable in insurance sales which helps them sell on service rather than price.
Shown below is a list of exclusive insurance agencies in Oklahoma City who can help you get price quotes.
Mike Earles – State Farm Insurance Agent
12220 S Western Ave – Oklahoma City, OK 73170 – (405) 691-1115 – View Map
Tony Brummitt – State Farm Insurance Agent
9509 N Council Rd – Oklahoma City, OK 73162 – (405) 721-1423 – View Map
State Farm: Vicky Richey Insurance Agency Inc
8601 S Walker Ave – Oklahoma City, OK 73139 – (405) 635-0677 – View Map
Finding the right auto insurance agent requires more thought than just the premium amount. Any agent in Oklahoma City should be forthright in answering these questions:
- Which insurance company do they prefer to write with?
- Do they regularly work with personal auto policies in Oklahoma City?
- Will one accident increase rates?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Does the agent recommend any additional coverage?
- Will the quote change when the policy is issued?
- Do they make recommendations based only on price?
Why you need quality insurance for your vehicle
Despite the high cost, insuring your vehicle serves several important purposes.
- Almost all states have mandatory liability insurance requirements which means you are required to buy a minimum amount of liability coverage if you want to drive legally. 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.
- If you bought your Toyota with a loan, most lenders will make it a condition of the loan that you have insurance to guarantee their interest in the vehicle. If you default on your policy, the bank may buy a policy for your Toyota at an extremely high rate and force you to pay the higher premium.
- Car insurance protects not only your Toyota but also your financial assets. It will also pay for medical expenses for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit in the event you are sued. If you have damage to your Toyota as the result of the weather or an accident, your car insurance policy will pay to repair the damage.
The benefits of buying enough insurance definitely exceed the price paid, especially when you need to use it. The average driver in Oklahoma is overpaying more than $830 a year so you should quote your policy with other companies at least once a year to ensure rates are inline.
Cheaper insurance rates are possible
Cheap Toyota 4Runner insurance in Oklahoma City can be bought from both online companies as well as from insurance agents, and you should compare rates from both in order to have the best price selection to choose from. A few companies do not provide the ability to get quotes online and most of the time these smaller companies work with independent insurance agencies.
While you’re price shopping online, don’t be tempted to skimp on coverage in order to save money. Too many times, consumers will sacrifice uninsured motorist or liability limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. The goal is to buy the best coverage you can find at the lowest possible cost and still be able to protect your assets.
How to find affordable quotes for Toyota 4Runner insurance in Oklahoma City
If you want to save the most money, the best way to get the cheapest auto insurance rates in Oklahoma City is to compare prices at least once a year from insurers in Oklahoma. Drivers can shop around by following these steps.
- Read about how insurance works and the steps you can take to prevent high rates. Many risk factors that increase rates like at-fault accidents and a low credit rating can be improved by making minor driving habit or lifestyle changes.
- Quote rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like Progressive or Allstate, while agents who are independent can give you price quotes from multiple sources.
- Compare the new quotes to your existing coverage to determine if you can save on 4Runner insurance. If you can save money and switch companies, ensure coverage does not lapse between policies.
One bit of advice is to try to compare the same deductibles and limits on every price quote and and to get price estimates from every company you can. This helps ensure a fair rate comparison and a complete selection of prices.
Additional detailed information is available by following these links:
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Who Has Cheap Auto Insurance for Drivers Under 21 in Oklahoma City? (FAQ)
- Who Has Cheap Oklahoma City Car Insurance Quotes for Lyft Drivers? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Drivers Under 25 in Oklahoma City? (FAQ)
- Uninsured Motorist Statistics (Insurance Information Institute)
- Prom Night Tips for Teen Drivers (State Farm)