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Our calculator for car insurance estimates can help you get an instant quote for car insurance costs in Oklahoma.
Various factors affect the cost of car insurance, and we analyzed the major auto insurers as well as how they determine premiums. We also researched which factors they consider most important when determining insurance rates.
Oklahoma Car Insurance Calculator: How it Gets You an Instant, Free Estimate
If you are looking for an accurate estimate from car insurance companies, you have to spend around 10 to 15 minutes and provide your personal information to get a quote.
MoneyGeek’s car insurance calculator gives a quick estimate for car insurance costs in Oklahoma based on your age, profile, driving record, credit score and other factors.
Certain factors impact premiums more than other factors. In Oklahoma, the coverage level affects the premium the most, followed by adding a teen driver and the age of the driver.
The most reasonable car insurer in Oklahoma for you will depend on multiple factors. According to MoneyGeek’s calculator, the cheapest widely available insurer is GEICO, at an average of $457 annually.
Though the price is one of the most crucial factors when choosing an insurer, you may also want to consider companies that provide good customer services and multiple coverage options.
MoneyGeek recommends using the car insurance calculator on our website to get estimates and browsing our collection of sample drivers to find the cheapest car insurance in Oklahoma.
To get a better idea of car insurance costs in your state compared to others, you can review the average cost of car insurance in Oklahoma.
If you are looking for better service and more coverage options along with affordability, then MoneyGeek scored the best car insurance companies in Oklahoma that balance affordability and service quality.
How Car Insurance Premiums are Calculated in Oklahoma
Auto insurers consider multiple factors when calculating car insurance premiums in Oklahoma. These include the age of the driver, driving record, coverage level, car model and more.
MoneyGeek found that the most important factors to consider when determining car insurance costs are the coverage level, adding a teen driver to the policy and the age of the driver.
Buying more coverage can multiply your insurance premium up to 2.9x.
How Much Coverage Level Matters in Calculating Car Insurance in Oklahoma
Coverage level refers to the amount of coverage you are buying. It has a direct relationship with your insurance premium. The more coverage you buy, the higher the insurance premium will be, with the cheapest coverage being the state minimum coverage.
In Oklahoma, a liability-only policy meeting the state minimum limits is the most affordable option. On the other hand, full coverage car insurance with liability limits of 100/300/100 is the most expensive option. . Your coverage level can increase your premiums by 2.9x.
How Much Adding A Teen Driver Matters in Calculating Car Insurance in Oklahoma
Teen drivers are either inexperienced or have minimal driving experience. This increases the risk of them getting into an accident, which causes insurers to charge higher rates.
Adding a teen driver to your family car insurance policy in Oklahoma can increase the premium by up to 2.7x.
How Much Age Of Driver Matters in Calculating Car Insurance in Oklahoma
Car insurers in Oklahoma tend to charge more for young drivers as well as for senior drivers compared to 40-years-old drivers. Young drivers are inexperienced, which makes accidents more probable, and senior drivers’ health issues may cause problems when driving.
The age of a driver can increase premiums up to 2.1x in Oklahoma, with 19 to 20-year-old drivers getting the most expensive premiums and middle-aged drivers paying the cheapest premiums.
How Much Credit Score Matters in Calculating Car Insurance in Oklahoma
When determining insurance premiums for your car, insurers consider credit score as an important factor in Oklahoma. For people with excellent credit scores, insurers charge lower premiums, while people with poor credit scores tend to pay higher premiums.
Your insurance premium can multiply up to 2x if you have a poor credit score versus an excellent score in Oklahoma.
How Much Car Model Matters in Calculating Car Insurance in Oklahoma
Car models that are considered to be safer tend to get charged lesser premiums by insurers. However, if the car is expensive, insurers tend to charge higher rates. Usually, insurers charge the highest premiums for luxury cars, while compact SUVs get the lowest rates.
Depending on the model of the car, your insurance cost can multiply up to 2x in Oklahoma.
How to Calculate How Much Car Insurance You Need in Oklahoma
How much coverage you are buying is one of the biggest factors impacting your insurance premiums. Consequently, calculating how much car insurance you need in Oklahoma can help you strike the appropriate balance between the cost of the insurance and the protection provided by it.
In Oklahoma, you need bodily injury liability coverage and property damage liability coverage. However, you can buy additional liability insurance that includes comprehensive insurance and collision insurance if needed.
Understand Oklahoma car insurance requirements
Knowing the minimum car insurance requirements in Oklahoma can help you understand how much car insurance you need in the state. The state minimum coverages will only help you cover the basic liabilities like $25,000 of bodily injury liability per person and a total of $50,000 of bodily injury per accident along with a $25,000 property damage liability per accident.
If you think you will need more coverage, it could be smart to get additional protection. Oklahoma doesn’t require you to buy comprehensive and collision insurance, which protects you against damages to your car.
Consider Purchasing Additional Liability Insurance
A state minimum policy in Oklahoma provides basic protection against possible expenses due to an accident. However, the limits you need may be higher to cover the expenses if you are in a major accident.
The average cost of minimum liability insurance in Oklahoma is $468, while a policy with $300,000 in bodily injury liability per accident costs an average of $817 per year.
Decide whether or not to buy comprehensive and collision insurance
You need to decide whether you need a full coverage car insurance policy, which will include comprehensive and collision liability. Though these are not required by Oklahoma law, lenders may require them if you are buying the car on loan or leasing it out.
The cost of adding comprehensive and collision with a $1,000 deductible is an average of $412 per year in Oklahoma. If your car is not that expensive, this coverage might not make sense financially.
Consider buying additional protection besides these core coverages
Uninsured/underinsured motorist coverage is not required in Oklahoma. However, it is an affordable way to protect yourself against uninsured motorists. In Oklahoma, these drivers make up 13.4% of drivers in the state.
You also have the option to buy medical payments coverage to protect against the cost of medical expenses in a crash.
Frequently Asked Questions About How Car Insurance is Calculated in Oklahoma
MoneyGeek has answered the most commonly asked questions regarding how to calculate insurance premiums in Oklahoma.
Methodology
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across Oklahoma. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.
About Mark Fitzpatrick
