The words “low-cost” and “insurance” probably shouldn’t be used together, specifically when looking for the lowest insurance prices for drivers with good credit. Because it’s so expensive, let’s start the ball rolling by going over a few of the factors that significantly impact car insurance rates, and find out if we can help you slash the price of your next policy.
The make and model of vehicle you are trying to insure is one of the biggest factors when shopping around for cheap coverage for drivers with good credit. Vehicles with more horsepower, poor passenger safety features, or an increased likelihood of liability claims will cost quite a bit more to insure than more economical and safe models. The information below presents coverage costs for a selection of the most cost-effective vehicles to buy insurance for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $1,042 |
| Honda CR-V EX 2WD | $1,047 |
| Honda Odyssey LX | $1,143 |
| Honda Accord LX 4-Dr Sedan | $1,175 |
| Ford Explorer Limited AWD | $1,255 |
| Toyota Prius | $1,267 |
| Ford Focus SES 4-Dr Sedan | $1,276 |
| Toyota Corolla LE | $1,299 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,320 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,322 |
| Toyota Tacoma 4WD | $1,324 |
| Ford Edge SEL AWD | $1,357 |
| GMC Sierra SLE Regular Cab 2WD | $1,389 |
| Chevrolet Equinox LT AWD | $1,394 |
| Toyota RAV4 Limited 2WD | $1,389 |
| Toyota Camry Hybrid | $1,409 |
| Kia Optima SX | $1,415 |
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Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Premium amounts do not factor in specific Oklahoma City, OK garaging location which can raise or lower coverage prices significantly.
By looking at the data, makes and models like the Ford Escape, Honda CR-V, Honda Odyssey, Honda Accord, and Ford Explorer should be a few of the more affordable vehicles to insure for financially responsible drivers.
For financially responsible drivers, one of the more important criteria that help determine insurance cost is where your car is garaged in Oklahoma City. Areas with a lot of weather claims or more people tend to have more expensive auto insurance rates, whereas areas with less people or fewer weather incidents profit from lower rates.
The table below rates the priciest cities in Oklahoma for drivers with good credit to purchase a policy in. Oklahoma City comes in at #7 with the yearly price of $2,178 for the average insurance policy, which is about $182 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Del City | $2,221 |
| 2 | Tulsa | $2,215 |
| 3 | Bixby | $2,213 |
| 4 | Sand Springs | $2,205 |
| 5 | Bethany | $2,201 |
| 6 | Broken Arrow | $2,195 |
| 7 | Oklahoma City | $2,178 |
| 8 | Moore | $2,153 |
| 9 | Midwest City | $2,119 |
| 10 | Sapulpa | $2,081 |
| 11 | Yukon | $2,076 |
| 12 | Owasso | $2,064 |
| 13 | Claremore | $2,048 |
| 14 | Edmond | $2,042 |
| 15 | Norman | $2,033 |
| 16 | Shawnee | $2,028 |
| 17 | Bartlesville | $2,000 |
| 18 | Muskogee | $1,962 |
| 19 | Enid | $1,942 |
| 20 | Lawton | $1,941 |
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Rate quotes are approximated as vehicle location can impact insurance rates noticeably.
Careless driving habits raise Oklahoma City auto insurance rates
In a perfect world, the best way to score the cheapest auto insurance rates for financially responsible drivers is to drive carefully and not have accidents or get tickets. The chart below illustrates how traffic citations and at-fault collisions can drive up insurance costs for different age groups. The data assumes a married female driver, full physical damage coverage, $250 deductibles, and no discounts are applied to the premium.
The chart shows that the average cost of an auto insurance policy in Oklahoma per year with no violations or accidents is $2,407. Get written up for two speeding tickets and the average cost rises to $3,433, an increase of $1,025 each year. Then add one accident along with the two speeding tickets and the yearly cost of auto insurance for drivers with good credit goes up to an average of $4,479. That’s an increase of $2,071, or $173 per month, just for being a little careless behind the wheel!
The information below shows how choosing a deductible can change insurance premiums when quoting cheap insurance for drivers with good credit. The rate quotes are based on a single male driver, comp and collision included, and no discounts are factored in.
As shown above, a 30-year-old driver could pocket $560 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $842 by using a $1,000 deductible. Younger drivers, like the Age 20 chart data, could reduce their rates $1,668 every year by choosing larger deductibles on their policy.
When raising deductibles, it will be necessary to have spare funds to allow you to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Get discounts on Oklahoma City car insurance rates
Car insurance companies that offer cheap quotes for drivers with good credit may also give you special discounts that can reduce rates by 35% or more if you meet specific eligibility requirements. Large auto insurance companies and some of their more popular discounts are outlined below.
- GEICO offers premium reductions for defensive driver, military active duty, five-year accident-free, seat belt use, driver training, and daytime running lights.
- MetLife has savings for defensive driver, good driver, accident-free, multi-policy, and good student.
- Progressive policyholders can earn discounts including multi-vehicle, continuous coverage, multi-policy, homeowner, and good student.
- Travelers has discounts for home ownership, payment discounts, driver training, multi-policy, hybrid/electric vehicle, and continuous insurance.
- SAFECO discounts include teen safety rewards, anti-lock brakes, bundle discounts, teen safe driver, multi-car, and safe driver.
- AAA may offer discounts for pay-in-full, education and occupation, multi-car, good driver, good student, anti-theft, and multi-policy.
The example below illustrates the comparison of yearly insurance costs with and without discounts applied. The costs are based on a male driver, no claims or driving citations, Oklahoma state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with safe-driver, vehicle safety, defensive driving course, anti-theft, marriage, and multiple policy discounts applied. When discounts are factored in, theaverage yearly reduction on auto insurance for drivers with good credit is 28% or $585.