How Much Is Car Insurance in Oklahoma? (2023)

Several factors play a major role in determining car insurance costs, including age, credit score, driving record, choice of insurer and the number of drivers on the policy.

For full coverage, State Farm is the cheapest company for drivers in their 40s ($662 per year) and young adults ($818 per year). The most expensive companies are Home State Insurance Group ($1,290 per year) for drivers in their 40s and Shelter for young adults ($1,755 annually).

In Oklahoma, the average cost of car insurance is $928 annually or $77 monthly. Your coverage level and driving record have a substantial impact on the cost of your policy. Drivers in Oklahoma pay the following rates based on their driving histories:

• Clean record: $928 per year
• Speeding ticket: $1,157 per year
• DUI: $1,362 per year
• Accident: $1,415 per year

The rates mentioned above pertain to full coverage policies. While minimum coverage rates are generally cheaper, they provide less coverage than full coverage policies.

With an average cost of $928 per year, car insurance policies in Oklahoma are slightly cheaper than the national average of $1,054 per year. This discrepancy can be attributed to factors such as lower car theft rates, moderate traffic density, cheaper insurance companies and lower urban population densities. Personal factors like age and driving history can impact car insurance costs and may increase premiums.

The rates provided are estimates, so your premiums may vary from the average cost of a policy because different insurance companies have their own rates and pricing structures. For instance, State Farm offers the cheapest car insurance in Oklahoma at $215 per year for minimum coverage ($662 per year for full coverage). Home State Insurance Group offers the most expensive full coverage policies at $1,290 per year. Allstate charges the highest annual rates for minimum coverage at $509.

Rates are also influenced by the level of coverage you choose. While liability-only insurance tends to be cheaper, you can find affordable options for full coverage insurance by comparing quotes from different insurers.

The average cost of car insurance in Oklahoma varies based on the coverage limit you choose, with premiums increasing as the coverage level goes up. For minimum coverage, the cost can be as low as $363 per year, while the highest coverage option can cost $1,163 per year.

Full coverage plans include comprehensive and collision insurance, which can increase your premiums by hundreds of dollars each year. You're also able to save money by increasing your deductible.

Minimum coverage policies have the cheapest premiums but do not include comprehensive and collision insurance and have the lowest liability protection. Insurers can offer increased liability limits, often shortened to 50/100/50 or 100/300/100. Policies with 50/100/50 limits include:

• $50,000 in bodily injury liability insurance per person
• $100,000 in bodily injury liability insurance per accident
• $50,000 in property damage liability insurance per accident

You can also find many insurers offering a 300/500/300 limit. Liability insurance pays for the costs of the damage or injuries you might cause to other people. Comprehensive and collision insurance covers the damages to yourself and your vehicle.

Your age can have a major effect on the cost of car insurance for young and new drivers. Premiums may vary for every age group, as follows:

• 22-29: $1,186 per year
• 30-59: $928 per year
• 60+: $885 per year

Auto insurance rates generally remain relatively stable between the ages of 30 and 60, with minimal changes. Drivers in their 20s typically pay higher rates due to their lack of experience on the road. New drivers who are over 30 years old may pay similar rates to younger drivers.

Car insurance for teenagers is expensive. On average, a 16-year-old male pays $6,617 per year for an individual policy or $2,481 per year when added to a family policy. Annual premiums can decrease as teenagers get older, with 19-year-olds and 22-year-olds paying $2,783 and $1,891 for individual plans.

Generally, rates for teen boys are more expensive than those for girls. Female teens with their own policies pay an annual average of $6,321, which is $296 less than boys pay. Teenagers can save on their premiums by comparing rates from the cheapest car insurance companies in Oklahoma.

On average, an insurance policy for a new car costs $1,177 per year, which is 42% more than insuring an older car ($827 annually). Brand-new vehicles are more expensive to insure due to their higher actual cash values (ACV), which increase the risk for insurance providers. High repair costs, expensive parts and increased theft risks also contribute to elevated insurance costs.

Because new vehicles are valued higher, it would be best to protect them with a full coverage policy, as they offer better protection against repair expenses.

The average costs to insure your vehicle, based on your driving record, are:

• Clean record: $928 per year
• Speeding ticket: $1,157 per year
• DUI: $1,362 per year
• At-fault accident: $1,415 per year

More severe violations can lead to higher insurance rates, with at-fault accidents typically leading to more expensive premiums compared to getting a speeding ticket in Oklahoma. The rates you'll pay depend on the insurer you pick, so it's best to shop around for the cheapest car insurance in Oklahoma for drivers with poor records.

Credit scores can affect car insurance costs. On average, drivers with excellent credit scores pay $686 per year for car insurance, while drivers with poor credit pay $1,396 yearly. Based on their credit scores, Oklahoma drivers can expect to pay:

• Excellent: $686 per year
• Good: $813 per year
• Fair: $987 per year
• Below fair: $1,151 per year
• Poor: $1,396 per year

Ultimately, the price you will pay for car insurance depends on your chosen insurance provider, as it determines how much your rates will be affected based on your credit score. Consider shopping around to find affordable car insurance in Oklahoma for drivers with poor credit.

The city you live in may significantly impact your premium costs. The cheapest cities are Norman and Broken Arrow, with average rates of $1,033 per year. The most expensive city is Tulsa, where drivers pay an average of $1,115 per year for auto insurance. Rates can vary by city due to differences in population density and variations in crime rates.

MoneyGeek answered some commonly asked questions about average car insurance costs in Oklahoma. Your rates depend on your personal circumstances and some variations for each state.