The vehicle driven is a significant factor when comparing quotes for low-cost insurance for college students. Vehicles with lower acceleration and performance, excellent safety ratings, or low incidents of liability claims will cost significantly less to insure than adrenaline junky models.
The list below shows auto insurance costs for some of the cheapest vehicles to insure in Oklahoma.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX 4-Dr Sedan | $2,165 |
| Ford Escape XLT 2WD | $2,174 |
| Honda CR-V LX 2WD | $2,165 |
| Hyundai Elantra SE Touring Station Wagon | $2,336 |
| Toyota Prius | $2,370 |
| Honda Odyssey LX | $2,397 |
| Ford Explorer XLT AWD | $2,428 |
| Dodge Grand Caravan SE | $2,438 |
| Ford F-150 XLT Regular Cab 4WD | $2,428 |
| Ford Focus SE 4-Dr Sedan | $2,537 |
| Toyota RAV4 4WD | $2,568 |
| Chevrolet Impala LT | $2,574 |
| Nissan Altima 2.5 4-Dr Sedan | $2,568 |
| GMC Sierra SLE Regular Cab 2WD | $2,578 |
| Ford Fusion S 4-Dr Sedan | $2,568 |
| Toyota Tacoma Double Cab 4WD | $2,602 |
| Chevrolet Malibu LT | $2,607 |
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Prices based on single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in your specific Oklahoma City, OK location which can affect rates noticeably.
Looking at the rates, we can expect models like the Honda Accord, Ford Escape, and Honda CR-V are going to be a few of the less-costly vehicles to insure for students in college. Auto insurance rates will be more expensive because of the fact that there is more liability risk for college students, but in general those vehicles will probably have the cheapest rates that you are likely to find.
One of the many criteria that are looked at to help calculate the amount you pay each year for auto insurance is where you normally keep your vehicle. Areas with increased crime or more people tend to pay more, whereas less populated areas can boast about having cheaper rates.
The next table shows the most expensive cities in Oklahoma for college students to purchase auto insurance in. Oklahoma City is listed at #9 with a yearly premium of $2,113 for coverage, which is about $176 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Tulsa | $2,259 |
| 2 | Del City | $2,243 |
| 3 | Sand Springs | $2,205 |
| 4 | Bethany | $2,201 |
| 5 | Broken Arrow | $2,195 |
| 6 | Midwest City | $2,184 |
| 7 | Moore | $2,153 |
| 8 | Bixby | $2,147 |
| 9 | Oklahoma City | $2,113 |
| 10 | Sapulpa | $2,102 |
| 11 | Owasso | $2,085 |
| 12 | Yukon | $2,076 |
| 13 | Norman | $2,075 |
| 14 | Edmond | $2,063 |
| 15 | Claremore | $2,048 |
| 16 | Stillwater | $1,970 |
| 17 | Shawnee | $1,968 |
| 18 | Ponca City | $1,956 |
| 19 | Muskogee | $1,943 |
| 20 | Bartlesville | $1,941 |
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Prices are approximated as the specific area where the vehicle is garaged can decrease or increase coverage rates considerably.
Determining which company has the cheapest car insurance rates for college students requires a bit more work in order to find the best price. Each insurance company has a different process for filing rates in each state, so we will examine the most competitive car insurance companies in Oklahoma City, OK.
Cheapest Insurance Rates for College Students
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,150 |
| 2 | Oklahoma Farmers Union | $1,154 |
| 3 | GEICO | $1,340 |
| 4 | The Hartford | $1,373 |
| 5 | Safe Auto | $1,377 |
| 6 | Farmers | $1,380 |
| 7 | State Farm | $1,521 |
| 8 | Liberty Mutual | $1,816 |
| 9 | Travelers | $1,906 |
| 10 | Mercury | $1,973 |
| 11 | OK Farm Bureau | $2,018 |
| 12 | MetLife | $2,147 |
| 13 | Shelter | $2,194 |
| 14 | Home State | $2,214 |
| 15 | Progressive | $2,245 |
| 16 | Allstate | $2,376 |
| 17 | Safeco | $5,209 |
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USAA offers some of the lowest car insurance rates in Oklahoma City at around $1,150 annually. This is $817 less than the average rate paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, GEICO, The Hartford, and Safe Auto also are some of the cheaper Oklahoma City, OK auto insurance companies.
As depicted above, if you have coverage with GEICO and switched to USAA, you may realize a yearly price reduction of about $190. Insureds with The Hartford may save as much as $223 a year, and Safe Auto customers might cut rates by $227 a year.
To see if your current coverage is too expensive, click here to start your custom quote or visit several of the following companies.
These premiums are averaged across all types of insureds and vehicles and do not factor in a specific location for college students. So the auto insurance company that can offer you the best price may not even be in the list above. That points out the importance of why you need to compare prices as often as possible using your own specific driver and vehicle information.
Insuring your vehicle with the right insurance provider is hard considering how many different companies sell coverage in Oklahoma City. The rank data listed below may help you pick which companies to look at when comparing rate quotes.
These ratings only include companies with a national presence, so smaller companies that only insure vehicles in Oklahoma will not be included in this list. To compare prices from these top insurers and more, simply click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
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Data Source: Insure.com Best Car Insurance Companies
The chart below demonstrates how deductibles can impact insurance premiums when quoting cheap insurance for college students. The data assumes a single female driver, full physical damage coverage, and no other discounts are factored in.
In the chart above, a 50-year-old driver could pocket $480 a year by changing from a $100 deductible to a $500 deductible, or save $724 by using a $1,000 deductible. Youthful drivers, like the 20-year-old category, have the ability to save up to $1,232 or more by choosing a larger deductible amount. When using a larger deductible, it will be necessary to have enough funds in savings to be able to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Who has the cheapest Oklahoma City car insurance?
Oklahoma City car insurance rates are based on many factors that will increase or decrease the cost of having a policy. Improving your credit score, moving to a new city, or getting a few speeding tickets may prompt premium changes that can make some companies more affordable than before.
And not only may your rating factors change, but auto insurance companies amend premium rates multiple times each year to help ensure profitability. An unexpected high level of claims can result in increased rates, while profitable underwriting may cause cheaper Oklahoma City car insurance rates.
To illustrate this example, the data below demonstrates which company has the cheapest car insurance in Oklahoma City, OK for a 45-year-old male driver with no prior claims, no tickets, and a good credit history. If we look at prices based on his current risk factors, Oklahoma Farmers Union might quote the lowest car insurance rates in Oklahoma City at $1,300 annually. This is $667 less than the average premium paid by Oklahoma drivers of $1,967. USAA, GEICO, The Hartford, and Farmers round out the rest of the cheapest Oklahoma City, OK auto insurance companies.
Now we will give the driver from the first rate comparison an accident surcharge, a lower credit rating, and a traffic citation. Since each auto insurance company has a proprietary method for determining rates in each state, comparing quotes may now result in a completely different list of the cheapest car insurance companies in Oklahoma City as shown below.
State Farm now has the cheapest car insurance in Oklahoma City, OK with USAA, Liberty Mutual, Farmers, and Travelers now being in the top five. This example illustrates why it is so important to compare lots of rates when trying to get the best car insurance quotes for college students.
Insurance prices are determined by many risk factors and change frequently, so the best price the last time you shopped around may now be wasting a lot of money.
How to find more affordable auto insurance for college students
It’s not impossible to find cheaper rates, and here are many penny-pinching suggestions that can help Oklahoma drivers buy low-cost car insurance.
- Remove physical damage coverage on older vehicles
- Multi-policy discounts save money
- Drive safe vehicles
- Prevent price hikes by avoiding at-fault accidents
- Good credit scores may lower your rates
- Shop around for cheaper rates regularly
That last tip is notably critical, as we emphasized in this piece. Auto insurance rates fluctuate considerably, so don’t be hesitant to buy from a different company if a lower-cost policy is available. Many consumers stick with the same company and that’s fine, but we do not recommend it if that stubbornness costs you big bucks every year. It only takes a couple minutes to shop around and find cheaper car insurance for college students in Oklahoma City.