Best Cheap Car Insurance in Oklahoma City for 2020 - NerdWallet

Posted: 11 Mar 2020 12:00 AM PDT

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn't influence our evaluations. Our opinions are our own.

When you look at car insurance rates in Oklahoma City, "cheap" may not be the first word that comes to mind.

In Oklahoma City, car insurance prices run about $15 a month above the state average, NerdWallet's 2020 rates analysis found. On average, car insurance in Oklahoma City costs $1,722 a year. But there's a good chance you can find a cheaper option.

NerdWallet analyzed auto insurance rates for the Oklahoma City metropolitan area from 11 of the largest insurers in the state. For each driver profile we checked, at least one company — and sometimes as many as five — showed Oklahoma City rates that were cheaper than the statewide average.

Geico returned the cheapest average rates for Oklahoma City drivers in our analysis. But a different insurer might be cheapest for you, since each company takes its own approach to setting insurance rates.

To get the best possible price, it's smart to compare car insurance quotes from several companies. We checked average rates for Oklahoma City drivers in a range of circumstances to give you an idea of what to expect.

Cheapest for good drivers in Oklahoma City

For Oklahoma City residents with clean driving and credit histories, these are the cheapest companies and average rates we found for full coverage insurance:

Geico: $1,045 per year.
American Farmers & Ranchers: $1,533 per year.
Allstate: $1,677 per year.
Shelter: $1,811 per year.
Progressive: $1,811 per year.

Drivers with no recent accidents or violations can get cheaper car insurance rates for having good credit. For this calculation, NerdWallet averaged rates for 40-year-old men and women with a clean driving record and good credit. In terms of driving and credit history, a large portion of drivers are closest to this profile, which carries standard "full coverage" insurance, including comprehensive and collision, along with state-required coverage. Prices shown include a good driver discount, when available from the insurer.

Cheapest for minimum coverage in Oklahoma City

For an Oklahoma City driver who wants only bare-bones insurance, the cheapest companies and average rates for Oklahoma's minimum required coverage are:

Geico: $449 per year.
American Farmers & Ranchers: $511 per year.
State Farm: $656 per year.
Progressive: $766 per year.
Allstate: $777 per year.

We calculated these numbers by averaging rates for 40-year-old good drivers (earning them a discount if the insurer offers one) who have only the minimum mandatory insurance in their state. Such light coverage isn't typically recommended since it might not cover all the bills resulting from a car accident, but it's better than nothing — especially if you can't afford much more. If you're looking for the cheapest possible insurance you can get, though, you'll still want to get quotes from at least three auto insurers.

Cheapest for good drivers with poor credit

For a driver in Oklahoma City who has a good driving record and blemished credit, the cheapest insurers and average rates for full coverage are:

Geico: $1,548 per year.
Oklahoma Farm Bureau: $2,078 per year.
Equity: $2,265 per year.
American Farmers & Ranchers: $2,390 per year.
Allstate: $2,455 per year.

If you have a spotty credit history, it's important to shop around to find the cheapest auto insurance rates you can. Poor credit can have a bigger effect on car insurance premiums than even a DUI conviction or a recent at-fault crash, but prices vary by insurer. To calculate these figures, NerdWallet averaged rates for 40-year-olds with a clean driving record and associated good driver discount, if the insurer offered one. They had poor credit as reported to their insurer, and standard "full coverage" car insurance.

Cheapest for drivers with one at-fault crash

Oklahoma City drivers who've caused a recent accident may want to check out these insurance companies, which returned the cheapest average rates for full coverage:

Geico: $1,891 per year.
Allstate: $2,238 per year.
Oklahoma Farm Bureau: $2,263 per year.
State Farm: $2,270 per year.
Equity: $2,468 per year.

After a relatively minor crash, some auto insurers will charge a lot more than others for coverage. To get these figures, we averaged rates for 40-year-olds with typical "full coverage" insurance and one recent at-fault crash costing $10,000 in property damage. Your rates will remain high for three to five years after you cause an accident or have a moving violation — and you still may be rejected for coverage from certain companies, including those above. If you fall into this category, be sure to shop for new insurance rates just after the three-year and five-year anniversaries of your infraction.

Cheapest insurance after a DUI in Oklahoma City

For an Oklahoma City driver with a recent DUI conviction, here are the cheapest insurers we found, ranked by lowest average rate for full coverage:

Geico: $2,122 per year.
Allstate: $2,139 per year.
Progressive: $2,258 per year.
Equity: $2,468 per year.
Farmers: $2,532 per year.

A conviction for driving under the influence, or DUI, generally results in higher auto insurance premiums than before. NerdWallet analyzed rates for 40-year-old drivers and standard "full coverage" car insurance with a recent DUI conviction to see which companies were cheapest. Be warned that you may be rejected for coverage, including from the companies listed above. Rates can vary by hundreds between carriers after a DUI, and some penalize for longer than others, so it's important to shop around for the best available price right after you see a price hike and each year after that.

Cheapest insurance after a ticket in Oklahoma City

After a speeding ticket, these companies have the cheapest average rates for an Oklahoma City driver buying full coverage insurance:

Geico: $1,400 per year.
Allstate: $1,840 per year.
American Farmers & Ranchers: $2,018 per year.
State Farm: $2,103 per year.
Oklahoma Farm Bureau: $2,263 per year.

Getting a speeding ticket will result in higher car insurance rates from most companies for three to five years. To see who has the cheapest rates, we calculated average car insurance rates for 40-year-old drivers with "full coverage" insurance and a recent ticket for speeding 16 mph over the limit. Though these larger companies were the cheapest we found on average, others may be cheaper for you, so be sure to get at least three quotes before deciding on a carrier.

Cheapest for couples and families in Oklahoma City

If you have a couple of cars in your driveway or a teen with a freshly minted driver's license, the companies with the best prices for singles may not be cheapest for you. Insurers use different formulas to set rates, so be sure to check prices after big changes in your life like moving, getting married or adding a teen driver. We analyzed rates for a couple insuring two vehicles, with and without a teen driver in the household, to find the lowest prices for families in Oklahoma City.

Cheapest for a married couple in Oklahoma City

For a husband and wife, both 50 years old, buying full coverage for two vehicles, these are the cheapest insurers and average rates in Oklahoma City, assuming clean driving and credit records:

Geico: $1,475 per year.
Allstate: $2,099 per year.
Progressive: $2,138 per year.
Shelter: $2,420 per year.
American Farmers & Ranchers: $2,464 per year.

Couples who live together can save on auto insurance by combining policies, whether they are married or not, because they can earn multi-car and multi-driver discounts. Once they tie the knot, rates can dip further, but not because of discounts — insurers see married people as less risky and so charge them lower rates. Our hypothetical 50-year-old couple's clean driving record also earns them both a good driver discount.

Cheapest for families with a teen in Oklahoma City

For an Oklahoma City family that includes a 50-year-old couple and an 18-year-old driver, here are the cheapest insurance companies we found, ranked by average rates for full coverage on two vehicles:

Geico: $2,575 per year.
Allstate: $3,576 per year.
Progressive: $3,699 per year.
American Farmers & Ranchers: $4,133 per year.
Shelter: $4,848 per year.

Adding a teen with two years' driving experience to a married couple's policy is sure to cause a big jump in rates. Since different insurers tend to see a teen's inexperience in different ways, we analyzed rates to see which companies had the cheapest car insurance for teens. These rates are averaged for 50-year-old couples with male and female 18-year-old drivers.

Cheapest for young drivers in Oklahoma City

People in their 20s often pay more for car insurance than more experienced drivers, but prices can vary dramatically. Insurers view age and driving background in different ways when setting rates, so it's important to compare multiple quotes. To see which companies are cheapest for young drivers, we looked at rates for 25-year-olds in Oklahoma City.

Cheapest full coverage for young good drivers

For a young driver in Oklahoma City with good credit and a clean driving record, these are the cheapest insurance companies and average rates for full coverage:

Geico: $998 per year.
American Farmers & Ranchers: $1,706 per year.
Allstate: $1,756 per year.
Progressive: $1,914 per year.
State Farm: $1,941 per year.

Drivers in their 20s can have a hard time finding cheap car insurance, and that's even truer when they need full coverage. The rates above are averages for 25-year-old male and female drivers with comprehensive and collision coverages, which are often required for drivers with active auto loans or leases. These rates reflect a good driver discount. Young drivers, like all drivers, should check several quotes to find the cheapest for the coverage levels they need.

Cheapest minimum coverage for young good drivers

For a 25-year-old Oklahoma City driver who chooses Oklahoma's minimum required insurance, the cheapest companies and average rates are:

Geico: $429 per year.
American Farmers & Ranchers: $584 per year.
State Farm: $680 per year.
Progressive: $773 per year.
Allstate: $777 per year.

Since young people often have fewer assets to protect with liability insurance, they can usually get away with lower coverage limits. For an age group with relatively high insurance rates on average, that's good news, keeping rates as low as possible. For this price set, we averaged rates for 25-year-old male and female drivers who have clean driving records, good credit and bare-bones insurance coverage.

Cheapest for poor credit and minimum coverage

When a young driver in Oklahoma City has spotty credit and a good driving history, the cheapest insurers and average rates for minimum coverage are:

Geico: $600 per year.
American Farmers & Ranchers: $906 per year.
Equity: $945 per year.
Allstate: $1,054 per year.
Oklahoma Farm Bureau: $1,101 per year.

Poor credit is common for younger folks just starting out, who may still be building their credit files. That can increase rates further, so it's extra important to shop around and compare as many insurance quotes as possible to find the cheapest you can get. For these prices, we averaged rates for 25-year-old male and female drivers with no recent accidents or violations (earning them a good driver discount), minimum coverage car insurance, and credit in the "poor" tier as reported to an insurer.

Cheapest for minimum coverage after a crash

For a 25-year-old Oklahoma City driver who has caused a recent wreck, here are the cheapest insurance companies we found, listed with their average rates for minimum coverage:

Geico: $712 per year.
State Farm: $877 per year.
Allstate: $990 per year.
Equity: $1,029 per year.
American Farmers & Ranchers: $1,061 per year.

To get prices for this group, we averaged rates for 25-year-old male and female drivers with good credit and a recent at-fault crash costing $10,000 in property damage. Since car insurance is often pricier after a crash, and especially so for young drivers, we assumed minimum required insurance in the state to contain costs for our hypothetical driver. Depending on your situation, you may still be rejected for coverage, including from the companies listed above. If you've caused a crash, no matter your age, be sure to check auto insurance quotes just after the third and fifth anniversaries of your incident, when insurers often adjust rates downward.

Cheapest for minimum coverage after a DUI

For a young driver in Oklahoma City with a recent DUI conviction, these companies returned the cheapest average rates for Oklahoma's minimum required insurance:

Geico: $801 per year.
Progressive: $933 per year.
Allstate: $947 per year.
State Farm: $1,024 per year.
Equity: $1,029 per year.

Young drivers with a recent DUI on their records will need to be diligent to find the lowest car insurance rates they can get — it's likely that many companies' rates will be quite expensive. Depending on the circumstances, you may be rejected for coverage, including from the companies listed above. But spending the time to shop around for quotes can help you find the lowest price from a company available to you. For this analysis, we averaged rates for male and female 25-year-old drivers with a recent DUI conviction. They had good credit and minimum required car insurance, which helps keep rates down.

Cheapest for minimum coverage and a ticket

For a 25-year-old Oklahoma City driver who recently got a speeding ticket, here are the cheapest insurers we found and their average rates for minimum coverage:

Geico: $526 per year.
American Farmers & Ranchers: $782 per year.
State Farm: $796 per year.
Allstate: $837 per year.
Equity: $980 per year.

Getting a speeding ticket is never fun, and neither is the higher car insurance bill you may receive months later. At that point, it's time to shop around for better rates, and it wouldn't hurt to repeat on your third and fifth ticket anniversaries, when insurers may adjust rates downward. We analyzed rates for 25-year-old male and female drivers with a recent speeding violation for going 16 mph over the speed limit to see prices for this group.

Cheap for military families

For Oklahoma City drivers with a military connection, cheap auto insurance is often available through USAA. We didn't rank USAA alongside other companies because its policies are offered only to active service members, veterans and their families. But in Oklahoma City, USAA was among the three cheapest options for more than three-quarters of the driver types listed above.

Average Oklahoma City car insurance rates by county

On average, car insurance costs $8 to $18 a month more in Oklahoma County, home to central Oklahoma City, than in the surrounding counties that make up the rest of the metropolitan area. Here are the average annual rates we found, ranked from most to least expensive, for a 40-year-old with good credit and a clean driving record, buying full coverage.

$1,816 in Oklahoma County, which encompasses Oklahoma City and suburbs like Edmond, Choctaw and Midwest City, Oklahoma.
$1,716 in Cleveland County, which includes Norman and Moore, Oklahoma.
$1,674 in Canadian County, home to El Reno, Mustang and Yukon, Oklahoma.
$1,630 in McClain County, which includes Newcastle and Purcell, Oklahoma.
$1,629 in Lincoln County, where Chandler, Oklahoma, is the county seat.
$1,615 in Logan County, which includes Guthrie, Oklahoma.
$1,597 in Grady County, home to Chickasha, Oklahoma.

» MORE: Best cheap car insurance in Oklahoma

Minimum required auto insurance in Oklahoma City

Car insurance policies in Oklahoma City and throughout the state must include liability insurance, which helps pay for others' property repairs or injury treatment if you cause an accident.

The minimum amounts your policy must include are:

$25,000 bodily injury liability per person.
$50,000 bodily injury liability per incident.
$25,000 property damage liability per incident.

While this is enough to drive legally, you may want more than the bare minimum. Check out NerdWallet's guide to minimum car insurance requirements by state for details on other coverages you can add and how their limits work.

Alternative auto insurance in Oklahoma City

If poor credit, a spotty driving record or other factors are preventing you from getting auto insurance on the voluntary market, you may qualify for coverage through the Oklahoma Automobile Insurance Plan.

NerdWallet can also help you find cheap auto insurance in Oklahoma City. Use our car insurance comparison tool to see rates from top companies.

METHODOLOGY

For our "good driver" profile, NerdWallet averaged rates from the largest insurers in the state for 40-year-old men and women in the Oklahoma City metropolitan statistical area as defined by the U.S. Office of Management and Budget. The MSA encompasses seven Oklahoma counties:

Canadian County.
Cleveland County.
Grady County.
Lincoln County.
Logan County.
McClain County.
Oklahoma County.

The policy includes:

$100,000 bodily injury liability per person.
$300,000 bodily injury liability per accident.
$50,000 property damage liability per accident.
$100,000 uninsured motorist coverage per person.
$300,000 uninsured motorist coverage per accident.
Collision coverage with a $1,000 deductible.
Comprehensive coverage with a $1,000 deductible.

If required, minimum additional coverages were added. Our "young driver" had all the same characteristics, but average rates were for 25-year-old men and women. We used the same assumptions for all other driver profiles, with the following exceptions:

For drivers with minimum coverage, we adjusted the numbers above to reflect the minimum required coverage by law in the state.
We changed the credit tier from "good" to "poor" as reported to the insurer to see rates for drivers with poor credit.
For drivers with one at-fault crash, we added a single at-fault crash costing $10,000 in property damage.
For drivers with a ticket, we added a single speeding violation for driving 16 mph over the speed limit.
For drivers with a DUI, we added a single drunken driving violation.

We used a 2016 Toyota Camry LE for all single drivers. Couples in our analyses were 50-year-old men and women with good credit and clean driving histories, averaged across the Oklahoma City MSA with the same policy outlined above. To see rates for families with a teen, we added an 18-year-old licensed two years ago, averaging rates for male and female teens. For couples and families, we added a 2016 Nissan Rogue S to create a two-car household. Rates for each vehicle assumed 12,000 annual miles driven.

In all cases, a paperless discount, e-signature discount and electronic funds transfer discount were automatically applied. These are rates provided by Quadrant Information Services. Your own rates will be different.

Top 10 Auto Insurance Companies in the US USA - NewsDio

Posted: 28 Mar 2020 09:54 AM PDT

No matter what kind of vehicle you drive Or where you're going, it's essential that you have auto insurance coverage from one of the best auto insurance companies, and not just because it's the law in 48 of the 50 states. An auto insurance policy protects you in the event of property damage or bodily injury liability if you have an accident. There are also policies that cover damage to the vehicle itself for a variety of reasons, incidents with uninsured or underinsured drivers, and medical expenses incurred due to accidents. Some auto insurers even include roadside assistance in their coverage.

Those costs can add up for an uninsured motorist, or even one with insufficient insurance. Having comprehensive coverage can help keep the out-of-pocket costs associated with auto insurance premiums under control. Please note that insurance generally does not cover wear and tear on a vehicle, damage incurred by drivers not listed on the insurance policy or driving under the influence, and engine damage as a result of an oil leak.

Sorting through auto insurance companies and offers can be intimidating. There are an estimated 300 auto insurance providers in the US. USA, ranging from those that operate nationwide to smaller companies. It's worth checking to see if you have well-reviewed state options in your area before committing to an insurance company nationwide.

There is also a lot that goes into an auto insurance policy. Factors such as injury liability, property damage, and accident forgiveness play a role in quotes and rates. You may also have teen drivers on your policy. Then there is gap insurance or personal injury insurance. How do all of these fit into your own liability coverage? Understanding what insurance coverage entails will help you make the best decision for your particular situation, but where to start?

You can dig deeper into each company's website, but we're making it easier to find the best car insurance coverage by narrowing the list. We chose the top 10 insurance companies in the country, based primarily on audience satisfaction, as measured by the J.D. USA Power 2019 USA The study measures five criteria: interaction, policy offers, price, billing process, and claims. 42,759 clients were surveyed from February to April 2019.

The top-scoring auto insurance policy overall was Geico, which reported high levels of customer satisfaction in all regions of the country and made it the number one auto insurer in the US. USA big expense), which certainly contributes to satisfaction.

That said, your car insurance quotes will ultimately be determined by personal factors, such as where you live, your credit score (for the best rates, a score of 770 or higher is recommended), and the type of vehicle you drive. Also like your age. The good news is that you can actually cut your insurance costs by working on your credit score or keeping a safe driving record.

Five things to know before signing up for auto insurance:

1. What coverage does your state legally require you to have? In most states, bodily injury liability and property damage liability are necessary for driving, but you'll want to check the details with the auto insurance providers where you live.

2. What type of coverage do you want? Most auto insurance companies order many different policies that cover a variety of damages and risks, so your first step should be to determine your risks and how to offset them.

3. Which auto insurers are the best? We have this covered in detail.

4. It is important to shop around. Even the cheapest insurance company may not offer the best rates for someone in your situation. Similarly, you may want a more comprehensive plan that makes more sense at another insurance company.

5. Which payment plan is best for you? Some companies offer a variety of payment methods (such as annual or monthly, or with electronic funds transfer), so you can determine which one works best for you and then request it.

Before entering the list, it is worth mentioning that not all insurance companies have their best interests at heart, both when offering auto insurance quotes or after having an accident. An August Buzzfeed News report revealed that State Farm, Farmers and Erie Insurance are three of several insurance companies that have paid the police to investigate their clients for fraud. All these companies have been excluded from this ranking.

Company	J.D. regional (out of 1,000)
Geico	830
Allstate	826
Progressive	818
Auto owners insurance	841 *
Esurance	836 *
Liberty Mutual Insurance	810
Nationwide	808
Travel insurance	818 *
Safeco	810 *
MetLife	812 *

* Not available in all regions of the US USA This affects the general location.

read more: How to buy your first car

GEICO

Geico's smart commercials ensure they remain one of the country's best-known auto insurance companies, but their customers know them for the excellent service and support they offer. Its 97% customer satisfaction rating speaks for itself, as does its long list of honors, including the most desired insurer according to the Kanbay Research Institute. You know, in case the gecko isn't enough to convince you that you want their insurance coverage.

Read more: The best cars for 2020

Allstate

Allstate was one of the rare auto insurance companies ranked on each of J.D. Power's regional customer satisfaction lists, and was # 1 in Florida. Allstate prides itself on its scope of coverage and offers a host of discounts that, depending on your circumstances, could make it the most profitable auto insurance policy available to many motorists.

Read more: CES 2020: these car tech innovations will change your life

Progressive

A giant in the insurance world with more than 18 million customers, Progressive manages to attract and retain as many satisfied customers with an ongoing commitment to save its customers money on their auto insurance rates. Progressive was the first auto insurer to offer safe driving discounts, making them a great option for people with a good driving record. Even today, customers who switch to Progressive save an average of $ 699 per year.

Read more: How to Protect Your Dog-Proof Vehicle and Keep Your Pet Safe and Protected

Auto owners insurance

Auto homeowners insurance may not have the striking marketing presence of the competition, but how many of them can say they've been around almost as long as automobiles? Established in 1916, the company has nearly 3 million policyholders in 26 states. Your high J.D. Power ratings may ask you to check if you have coverage where you live.

Jennifer Van Grove / CNET

Ranked the # 1 auto insurer in California, Esurance is quick to make forays across the country (the company operates in 43 states). A division of Allstate, Esurance promises customers that changing or signing up for auto insurance can be as easy as possible, "painless," as the company says.

Users agree with the assessment, as the reviews on the website draw attention to how quick and easy it is to register, either online or with the Esurance app. And by calling all introverts, you probably don't have to speak directly to an insurance agent to set it up.

Read more: COVID-19 and car buyers: what automakers are doing to help customers

Liberty Mutual Insurance

Operating globally, Liberty Mutual is the world's fifth largest property and casualty insurer. Still, the company makes it very clear that its business starts with you, and the first step on that journey is to get a quote.

Most insurers offer free auto insurance quotes on their websites, but Liberty Mutual offers you a discount for using your own – you can save up to 12% off your rate by getting a policy quote online.

Insurance nationwide

With over 90 years of covering drivers, Nationwide has learned one or two things about what keeps customers happy (and, in turn, what keeps them customers). The company's list of visions and values shows exactly where its priorities lie.

Higher ratings from a variety of outlets (such as A.M. Best, S&P, and Moody's) would suggest it's working. Those values extend to employees, too: Nationwide was ranked 53rd on Fortune's most recent list of the "100 Best Companies to Work For."

Travel insurance

Among the many plans that Travelers offers is an auto insurance coverage policy that you can customize based on your needs. Instead of increasing user sales, Travelers offers a wealth of resources (in the form of blog posts) designed to educate motorists before purchasing the policy. An informed customer is a happy customer.

Safeco insurance

Safeco, a division of Seattle-based Liberty Mutual, has been in the auto insurance business for more than 85 years, and has been a national presence for more than two decades. Safeco partners with local agents who can dedicate the time and attention customers need to get answers to all their individual auto insurance questions and satisfy their requests.

Metlife

Auto insurance may not be MetLife's best-known offering, but the company's coverage receives high marks across the country. Available through the MetLife Auto & Home division, the company's plans are frequently offered at reduced prices through employers or affinity groups, averaging $ 597 per year.

Disclaimer: The information in this article, including program features, program fees, and credits available through credit cards to apply to such programs, may change from time to time and is presented without warranty. When evaluating offers, check the credit card provider's website and review its terms and conditions for the latest offers and information.

Search This Blog

Teenage Life Quotes