How Much Is Car Insurance in Oklahoma? (October 2024)

The average annual cost for full coverage car insurance in Oklahoma is $1,187, while a minimum coverage policy costs around $505.

Several factors can influence premiums, including age, preferred coverage level, location, driving record and credit history.

Oklahoma's average full coverage car insurance cost is roughly $1,187 annually. Knowing the average cost helps determine if you're getting a fair deal when comparing car insurance quotes.

This summary outlines the average rates for Oklahoma's minimum and full coverage car insurance to help you budget effectively.

Oklahoma's average annual premium of $505 ($42 per month) for minimum coverage is less than the national average of $619 per year ($52 per month). Full coverage with a $1,000 deductible in Oklahoma costs about $1,187 annually ($99 per month), which is also cheaper than the national average of $1,337 per year ($111 per month).

Factors such as the frequency of severe weather, accident rates and Oklahoma's lower-than-average vehicle repair costs also influence the rates.

Car insurance premiums can differ significantly from one company to another. In Oklahoma, Mercury offers the most affordable full coverage at an average annual rate of $888, while Home State Insurance Group has the highest average premium at around $1,709 per year.

When searching for the cheapest car insurance in Oklahoma, compare quotes from various providers.

In Oklahoma, car insurance costs vary by coverage level. Minimum coverage averages about $42 monthly, while full coverage with a $1,000 deductible costs around $99 monthly. Although full coverage insurance is more expensive, it offers broader protection against various incidents.

Adding comprehensive and collision coverage raises premiums, but choosing a higher deductible can help lower these costs. Keep in mind that higher deductibles apply separately to both comprehensive and collision coverages.

In Oklahoma, the minimum car insurance requirements include $25,000 for bodily injury liability per person, $50,000 per accident and $25,000 for property damage liability per accident.

In Oklahoma, location influences car insurance rates. For example, Broken Arrow and Norman have the cheapest full coverage at about $1,033 annually, while Tulsa's rates are around $1,115.

Other factors affecting car insurance costs include driving history, car model and safety features, credit score and coverage level.

Age significantly affects car insurance costs. In Oklahoma, young drivers aged 22 to 29 pay the highest premiums, averaging $1,515 annually. Premiums decrease as drivers age, with those between 30 and 59 paying about $1,187 annually, while seniors 60 and older average $1,148.

This trend indicates that insurance companies view younger drivers as having a higher risk of accidents, resulting in higher costs.

Age and gender influence car insurance rates in Oklahoma. A 16-year-old male driver added to a family policy faces an average annual premium of $2,481, usually the highest of any age group.

Due to legal restrictions, parental co-signing is typically required for a teen under 18 seeking insurance. If this same young driver opts for an independent policy, the premium jumps to around $6,617 per year.

The average annual cost of full coverage car insurance is $827 for a 2012 model and $1,177 for a 2022 model. This increase is due to the higher actual cash value, increased repair costs and greater theft risk associated with newer cars.

Drivers with newer models should consider comprehensive and collision coverages to protect against theft, vandalism and accidents.

The average cost of car insurance in Oklahoma can vary greatly depending on the driver's record.

• With a ticket: $1,440 per year; $120 per month
• With a DUI: $1,693 per year; $141 per month
• With an at-fault accident: $1,751 per year; $146 per month

The type of violation impacts car insurance costs. Premiums increase for the duration the violation stays on your record, which varies by state. For example, a DUI remains on your record for up to five years in Oklahoma, affecting your insurance rates. While a DUI usually leads to high premiums, other violations can also cause increases, depending on your location and insurer.

The table below shows average car insurance costs in Oklahoma based on driving records, coverage levels, and age groups.

Car insurance rates in Oklahoma vary based on credit scores. Average annual premiums range from $686 for excellent credit to $1,396 for poor credit. Insurers view credit scores as indicators of the likelihood of filing a claim, with a good score falling between 670 and 739.

Knowing the factors that influence car insurance rates in Oklahoma can help you find affordable coverage and understand why your costs may differ from the state average.

• Driving record: A clean driving record can lead to lower premiums, while accidents and traffic violations can increase your car insurance costs in Oklahoma.
• Credit score: Insurers in Oklahoma consider credit scores when determining rates. A higher credit score may result in more affordable car insurance premiums.
• Age and gender: Young, inexperienced drivers often face higher rates, while mature drivers may benefit from reduced costs. Gender can also impact insurance rates, varying between male and female drivers.
• Vehicle type: Your car's make, model and age affect insurance rates. Cars with high safety ratings may cost less to insure, whereas luxury vehicles may incur higher premiums.
• Coverage level: Choosing higher coverage limits or adding comprehensive insurance and collision insurance can increase your insurance rate, compared to state minimum coverage.
• Location: Rates can vary depending on where you live due to factors like crime rates, weather patterns and traffic congestion.
• Discount eligibility: Discounts for multiple policies, good students or defensive driving courses can offset costs.
• Deductible: Choosing a higher deductible may lower your premium, but it means paying more out of pocket in case of a claim.

To secure affordable car insurance in Oklahoma, compare rates, opt for a higher deductible and use all eligible discounts for immediate savings.

Get answers about what impacts the average cost of car insurance in Oklahoma and how to find affordable rates.