Cheap Oklahoma Low-Income Car Insurance for Families and Individuals

There is no government assistance program to help low-income drivers in Oklahoma with the cost of car insurance. To help you save money on your policy, MoneyGeek rated auto insurance companies in the state. We found that Progressive and GEICO offer the cheapest car insurance for low-income families and individuals in Oklahoma.

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Last Updated: 11/25/2022
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Your income level doesn’t affect the price of your car insurance. The most significant factors that will change how much you pay for your insurance include your age, your chosen coverage level or whether you add a teen driver to your existing policy.

MoneyGeek researched the most affordable insurance for low-income individuals and families in Oklahoma, depending on their credit score.

Is There Car Insurance for Low-Income Families and Individuals in Oklahoma?

In Oklahoma, there are no government car insurance programs that support low-income individuals and families with their car insurance costs. Having car insurance is required in almost every state nationwide. However, around 13.4% of Oklahoma drivers are uninsured, possibly because it's expensive.

For low-income car insurance in Oklahoma, your cheapest option may be a traditional minimum coverage policy. Another option low-income drivers in Oklahoma can consider is pay-per-mile insurance, where premiums are based on how much you drive.

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Does Oklahoma Have a Government Program to Support Low-Income Drivers with Insurance?

There are no government assistance programs for low-income drivers in Oklahoma when it comes to car insurance. To find the cheapest insurance possible, you should compare quotes from several car insurance companies. If you’re a low-income driver in Oklahoma looking to save on car insurance costs, MoneyGeek listed the cheapest auto insurance companies in the state to help you in your search.

The Cheapest Oklahoma Car Insurance Companies for Low-Income Drivers

When car insurance companies calculate how much to charge for premiums, they don’t consider your income. Instead, they look at other factors like your age and credit score.

Although a minimum coverage policy is the most affordable type of car insurance, it offers the least protection. MoneyGeek found that Progressive, GEICO and State Farm are the cheapest car insurance companies for low-income drivers in Oklahoma.

MoneyGeek analyzed the cheapest minimum car insurance for low-income families and individuals in Oklahoma and compared policy rates based on credit scores.

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The Cheapest Oklahoma Car Insurance Companies for Low-Income Families

While your income doesn't influence your car insurance rates, your credit score can greatly impact the cost of your policy. Our sample single parent in Oklahoma with a teen driver and poor credit pays $1,206 per year more than their counterpart with good credit. Similarly, couples with one teenage driver and poor credit pay $1,655 per year more than those with a good credit score.

For couples with a teen driver and poor credit score, the two cheapest car insurance companies in Oklahoma are:

  • Progressive: $3,308 per year
  • GEICO: $3,504 per year

If you’re a current or retired military remember, consider USAA. They offer the cheapest auto insurance policy in Oklahoma for a couple with a teen driver and a poor credit score at an average of $2,503 per year.

For single parents with a teen driver and poor credit score, the two cheapest car insurance companies in Oklahoma are:

  • GEICO: $2,018 per year
  • State Farm: $2,261 per year

USAA is the cheapest option in Oklahoma at an average of $1,750 per year. However, car insurance policies from that insurer are exclusive to active military members, veterans and their families.

Being low-income doesn’t necessarily mean you have a poor credit score. To help you find the cheapest options for your profile, browse the table below.

Sort by family type:

Single parent w/ a kid

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $1,034
  • GEICO
    $1,191
  • State Farm
    $1,335
  • Mercury
    $1,774
  • Farmers
    $1,803
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The Cheapest Oklahoma Car Insurance Companies for Low-Income Individuals

Our sample 40-year-old Oklahoma driver will pay about $433 per year more with poor credit than with a good credit score. The two cheapest car insurance companies in Oklahoma for this profile are:

  • GEICO: $699 per year
  • State Farm: $858 per year

USAA is the cheapest insurer in Oklahoma at $650 per year on average for a 40-year-old driver with a poor credit score. However, USAA is exclusive to military members and their families.

Just because you’re low-income doesn’t mean you have poor credit, and good credit will influence the cost of your insurance. The two cheapest car insurance companies in Oklahoma for a 40-year-old low-income individual with good credit are:

  • GEICO: $413 per year
  • State Farm: $507 per year

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $384
  • GEICO
    $413
  • State Farm
    $507
  • Farmers
    $597
  • Progressive
    $611

The Cheapest Oklahoma Car Insurance Companies for Low-Income Students

Young student drivers in Oklahoma usually have higher premiums because of their driving inexperience. While their traditionally low incomes are not a consideration in how much their insurance costs, their premiums often take up a large portion of their income.

The two cheapest companies for young drivers with poor credit are:

  • GEICO: $1,435 per year
  • State Farm: $1,762 per year

USAA provides the cheapest auto insurance at $1,335 per year. But we excluded this from our rankings since it’s only available for current and former military members and their families.

It’s possible to have a good credit score even with a low income, and that makes a difference in how much you’ll pay. At GEICO, for instance, you’ll pay $847 per year if you’re a young driver with good credit, and at State Farm, the yearly premium is $1,040.

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $788
  • GEICO
    $847
  • State Farm
    $1,040
  • Farmers
    $1,226
  • Progressive
    $1,254

The Cheapest Oklahoma Car Insurance Companies for Low-Income Seniors

Senior drivers usually pay higher premiums compared to middle-aged drivers. Car insurance for low-income seniors in Oklahoma is even more expensive for those with poor credit scores. Our sample 70-year-old driver with poor credit in Oklahoma will pay approximately $481 per year more than their counterpart with a good credit score.

In Oklahoma, the two cheapest companies for low-income seniors with a poor credit score are:

  • State Farm: $846 per year
  • GEICO: $1,034 per year

USAA provides the cheapest auto insurance for senior drivers with poor credit at $763 per year on average. However, USAA is exclusive to military members and their families.

You don’t automatically have poor credit just because you have a low income, and a good credit score will make a positive difference in your policy rates. The two cheapest companies for senior drivers with good credit scores in Oklahoma are State Farm at $500 per year and GEICO at $611 per year on average.

Switch by Credit Score:

Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $451
  • State Farm
    $500
  • GEICO
    $611
  • Progressive
    $664
  • Farmers
    $722

Does Income Affect Car Insurance Rates in Oklahoma?

When calculating car insurance rates in Oklahoma, providers don’t include income as a factor. Other factors tangentially related to income may affect your final quote.

For example, younger drivers are charged higher rates since they are considered high risk and more likely to get into an accident due to inexperience. They probably have lower incomes since they’re either still at school or just starting their careers. Additionally, low-income individuals or families may make more claims since they can’t always afford to pay out-of-pocket repairs, and insurers charge more for drivers with a history of claims.

MoneyGeek breaks down factors that are seemingly related to low income and how they affect Oklahoma car insurance rates. The top three are:

  • Your age.
  • The coverage level you select.
  • Adding a teen driver to your policy.

Your credit score and vehicle model also influence your auto insurance rates.

  • Factor
    How it Affects Your Rates
  • Coverage Levels

    Your chosen coverage level is the biggest factor in Oklahoma, with full coverage costing 2.9x more than the state minimum.

  • Adding a Teen Driver

    Adding a teen driver to your policy makes it 2.7x more expensive.

  • Age of Driver

    Oklahoma rates can change by 2.1x for young drivers compared to their middle-aged counterparts.

  • Credit Score

    Auto insurance in Oklahoma costs two times more if you have poor credit versus if you have good credit.

  • Car Model

    Your car insurance rate in Oklahoma could be two times more expensive if you have the latest car model.

Frequently Asked Questions About Low-Income Car Insurance in Oklahoma

MoneyGeek answers a few of the most frequently asked questions below about low-income car insurance in Oklahoma.

Methodology

MoneyGeek calculated the cost of car insurance for low-income drivers in Oklahoma using quotes sourced in partnership with Quadrant Information Services. The sample driver is either a 40-year-old male, a single 40-year-old parent with a 16-year-old child, an adult couple each 40 years old or a couple with a 16-year-old child. The individual or family drives a 2010 Toyota Camry LE. The driver buys the minimum car insurance required in Oklahoma.

Costs for poor and good credit scores were extrapolated based on MoneyGeek’s dataset of credit score rate adjustments by score categorization.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.