How Much Is Car Insurance in Oklahoma? (2023 Averages)
Compare Rates
Ensure you're getting the best rate. Review quotes from a top insurance company.
Many factors influence car insurance rates, including the type of driver and the level of coverage. In Oklahoma, a minimum coverage policy costs an average of $635 per year, much cheaper than the average of $1,299 for a driver with full coverage. The amount will increase to $1,657 on average if you have a driving violation on your record, while the amount will climb to around $2,473 if you add a young driver to your policy.
Car insurance companies are also responsible for the prices you pay and they can vary considerably between insurers. For instance, Oklahoma Farm Bureau's full coverage policy in Oklahoma costs $1,489 per year, while GEICO's just costs $774 per year.
The Average Cost of Car Insurance in Oklahoma
Insurers consider many different factors when calculating rates. However, some considerations hold more weight than others. In Oklahoma, age and poor credit scores are the most significant contributors to costs. Individuals looking to research average costs should research how different elements can influence their insurance costs.
Average Costs of Car Insurance in Oklahoma
Scroll for more
- DriverAverage Annual PremiumAverage Monthly Premium
- The Average Driver$1,299$108
- Drivers Buying Minimum Coverage$635$53
- Adding a Young Driver$2,473$206
- Drivers With a Violation$1,657$138
- Drivers With Poor Credit$2,146$179
Compare Auto Insurance Rates
Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
Why Are Car Insurance Rates Reasonable in Oklahoma?
Car insurance rates partially depend on state-specific statistics, such as highway density, urban population, rate of accidents and other traffic-related causes. Compared to all states, Oklahoma car insurance rates are moderately priced.
Though the state has a high rate of vehicle theft, which could cause car insurance rates to increase, Oklahoma's very low highway density contributes to lower rates. Additionally, the state features a moderate number of uninsured drivers, an average urban population share, and an average occurrence of disaster.
Average Cost of Car Insurance in Oklahoma: Full Coverage vs. Minimum Coverage
The average cost of full coverage car insurance in Oklahoma is $1,299, while a minimum liability-only policy costs $635 per year on average — a cost difference of $664 per year. A policy with comprehensive insurance is generally more encouraged in Oklahoma, due to the state's high vehicle theft rate.
Average Cost of Car Insurance in Oklahoma by Coverage Level
If you buy the state-minimum policy in Oklahoma, you'll get the lowest premium available.
When you purchase auto insurance, you may want to increase your liability coverage to 50/100/50 or 100/300/100. Both of these numbers represent how much liability coverage you have. For instance, a 50/100/50 policy provides:
- $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
Furthermore, full coverage policies provide collision and comprehensive coverage, which reimburse you for damages to your own vehicle, in addition to your third-party liability coverage.
Average Cost of Car Insurance in Oklahoma By Company
Aside from coverage level, the company you choose will also significantly affect your rate. If you are looking for a cheap minimum coverage, your best option is GEICO, which offers insurance at an average of $401 per year in the state.
GEICO also offers the cheapest full coverage in Oklahoma at an annual average of $774. USAA, available to service members and their families, offers full coverage at $827 per year on average. MetLife offers the most expensive policies. On average, liability-only coverage costs $852 in the state, while full coverage costs $2,181 annually.
Average Annual Costs of Car Insurance in Oklahoma - By Company
Scroll for more
- CompanyMinimum CoverageFull Coverage
- $401$774
- $373$827
- $579$1,005
- $492$1,069
- $712$1,192
How Much Is Car Insurance in Oklahoma by Age?
A driver's age and driving experience contribute significantly to insurance costs. For example, first-time drivers pay higher insurance premiums. A separate policy costs more for younger drivers, with a 16-year-old in the state paying $2,473 on average annually for their own insurance. However, younger drivers can save on premiums by joining their parents' policies.
Due to the same driving experience, the average car insurance cost in Oklahoma for first-time drivers compares similarly to younger drivers.
Average Costs of Full Coverage Car Insurance in Oklahoma - By Age
How Does Driving History Affect Car Insurance Costs in Oklahoma?
Drivers with clean records have proven their dependability to insurers and pay lower premiums. Similarly, a bad driving record can increase premiums, and worse violations raise costs further.
A driver with a speeding ticket pays an average of $1,657 annually for full coverage — an extra $359 annually. Other high-risk indicators, such as involvement in accidents or DUI cases, also increase premiums.
Average Costs of Full Coverage Car Insurance in Oklahoma - By Driving History
Scroll for more
- Driving ViolationAnnual Premium
- Safe Driver$1,299
- Speeding Ticket$1,657
- At-Fault Accident$1,834
- DUI$2,025
Compare Auto Insurance Rates
Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.
Credit Scores and the Cost of Car Insurance in Oklahoma
Another indicator of reliability is a driver's ability to pay their credit card balances on time. Many states, including Oklahoma, factor credit scores into premiums. Drivers with bad credit pay an extra $874 per year from what a good creditor would pay on average. Consumers with strong credit can even score a better deal by paying $209 less than what a good creditor would pay annually on average.
Average Costs of Full Coverage Car Insurance in Oklahoma - By Credit Score
Scroll for more
- Credit ScoreAnnual Premium
- Excellent$1,064
- Good$1,273
- Fair$1,515
- Below Fair$1,800
- Poor$2,146
How Much Is Car Insurance in Your City?
Drivers researching car insurance policies will discover that insurance rates vary among local areas, as well. Your personal circumstances and needs, such as relocation, vehicle, job situation and annual mileage can affect rates, as well.
In Oklahoma, car insurance rates vary from city to city. These variances depend on population density, as a higher figure correlated with an increased likelihood of road accidents. Norman is the cheapest city in Oklahoma for car insurance — about 4.4% cheaper than the state average. Tulsa has the most expensive rates in Oklahoma, at $1,313 per year on average.
Average Costs of Full Coverage Car Insurance in Oklahoma - By City
Scroll for more
- CityAnnual Premium
- $1,295
- $1,242
- $1,285
- $1,313
Frequently Asked Questions About Oklahoma Car Insurance Rates
Before you purchase a car insurance policy in Oklahoma, research how rates in your city compare with others. Request quotes from several insurance companies to find the best price for your specific circumstances.
About Mark Fitzpatrick
sources
- Oklahoma Insurance Department.oid.ok.gov. "Life’s Turns Can Take Your Car Insurance in a Different Direction." Accessed September 15, 2021.