Finding cheaper car insurance for a Nissan Altima in Oklahoma is pretty simple for most people to do, but it hinges on a pretty complex algorithm that uses a lot of factors such as how many years you have been driving, your credit status, and citations or violations on your driving record. Drivers pay on average $1,250 annually to insure their Altima, but that is an estimate based on a 50-year-old married female driver with full coverage and $250 deductibles.
The problem with using this number is the good chance you are not 50 years old and maybe not even female, maybe you are single instead of married, and maybe you want higher deductibles. Having just a slight change in the rating criteria used to formulate rates can result in a big discrepancy in how much coverage for a Nissan Altima costs.
Auto insurance requires individual risk assessment, so the way we recommend to find cheap insurance prices for your Nissan is to just take the time to compare rates yourself. It only takes a few minutes and you will be able to see rates from some of the best companies around.
Your vehicle’s trim level will have an impact the annual cost of coverage, so the rate you will pay to insure a Altima 2.5 4-Dr Sedan trim level will be $284 cheaper than the price to insure the higher-priced Altima 3.5 SR 2-Dr Coupe model, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Altima 2.5 4-Dr Sedan||$266||$484||$422||$24||$126||$1,322||$110|
|Altima 2.5 S 4-Dr Sedan||$266||$572||$422||$24||$126||$1,410||$118|
|Altima Hybrid 4-Dr Sedan||$302||$572||$422||$24||$126||$1,446||$121|
|Altima 2.5 S 2-Dr Coupe||$302||$572||$476||$28||$142||$1,520||$127|
|Altima 3.5 SR 4-Dr Sedan||$302||$572||$422||$24||$126||$1,446||$121|
|Altima 3.5 SR 2-Dr Coupe||$302||$658||$476||$28||$142||$1,606||$134|
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Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Table data does not factor in Oklahoma City location which can lower or raise prices considerably.
Finding reasonably-priced car insurance is not most people’s favorite thing to do, and finding out which company has the cheapest insurance rates for a Nissan Altima calls for more quotes for comparison.
Each auto insurance company uses a little different formula to establish rates, so let’s begin by examining the overall cheapest insurance companies in Oklahoma City, OK. It’s important that you understand Oklahoma City, OK insurance rates are influenced by many factors that will increase or decrease the cost of a policy. Price variation is why drivers need to shop around with many companies to find the cheapest car insurance quotes for a Nissan Altima. Insurance rates are calculated by many things and can change substantially, so the cheapest company the last time you shopped your coverage around may now be an over-priced policy.
Find Cheaper Auto Insurance for Your Altima
|Rank||Company||Cost Per Year|
|2||Oklahoma Farmers Union||$1,202|
|11||OK Farm Bureau||$2,058|
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USAA normally has some of the cheapest car insurance rates in Oklahoma City at around $1,196 a year. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto also qualify as some of the cheapest Oklahoma City, OK auto insurance companies.
As shown above, if you are a customer of Oklahoma Farmers Union and switched to USAA, you could earn annual savings of around $6. Drivers with The Hartford might save as much as $123 a year, and GEICO insureds might lower prices by up to $157 a year.
To see if you’re overpaying, click here or visit any of the low-priced companies below.
It’s important to note that these policy rates are averages across all drivers and vehicles and are not factoring in a specific zip code for a Nissan Altima. So the company that can offer the best rates for your situation may not even be in the top 17 companies in the list above. That illustrates why you need to compare as many prices as possible using your own individual information.
The example below demonstrates how deductible levels can impact insurance prices when trying to find cheap insurance for a Nissan Altima. The premium estimates are based on a married male driver, full physical damage coverage, and no other discounts are factored in.
A 50-year-old driver could cut expenses by $434 a year by switching from a $100 deductible to a $500 deductible, or save $656 by selecting a $1,000 deductible. Youthful drivers, like the age 20 example, could potentially save up to $1,458 or more just by choosing higher deductibles.
When insureds make the decision to increase the deductibles on their policy, it is important to have plenty of discretionary funds to pay the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Discount Oklahoma City car insurance
Insurance providers that offer coverage for a Nissan Altima may also give you policy discounts that could lower prices by 30% or more if you meet certain criteria. A few of the larger companies and their offered discounts include:
- Progressive may have discounts that include multi-policy, online signing, multi-vehicle, homeowner, continuous coverage, online quote discount, and good student.
- SAFECO policyholders can earn discounts including drive less, multi-car, anti-theft, accident prevention training, and teen safe driver.
- American Family may include discounts for good driver, good student, multi-vehicle, bundled insurance, and mySafetyValet.
- MetLife offers discounts for good student, defensive driver, good driver, accident-free, multi-policy, claim-free
- GEICO may offer discounts for federal employee, emergency military deployment, air bags, membership and employees, military active duty, and daytime running lights.
- The Hartford has savings for defensive driver, vehicle fuel type, anti-theft, bundle, and good student.
The chart below visualizes the comparison of insurance costs with and without policy discounts. The premiums are based on a male driver, no tickets, no at-fault accidents, Oklahoma state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with claim-free, marriage, defensive driving course, safe-driver, vehicle safety, and accident-free discounts applied. When discounts are factored in, the average savings per year on insurance for a Nissan Altima is 28% or $750.
Do you need full coverage?
Saving on insurance is important to most vehicle owners, and one great way to reduce the cost of insurance for a Nissan Altima is to buy liability only. The information below shows the difference between insurance premiums when comparing full coverage to liability only. The data assumes no accidents, no driving violations, $500 deductibles, marital status is single, and no policy discounts are applied.
Averaged out for all age groups, full coverage costs $2,696 per year more than insuring for liability only. Many drivers may wonder if buying full coverage is a waste of money. There is no written rule for phasing out physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of coverage is more than around 10% of replacement cost minus your deductible, then you might want to consider buying only liability coverage.
For example, let’s say your vehicle’s replacement cost is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $7,000 after paying your policy deductible. If it’s costing you more than $700 a year to have full coverage, then you might want to consider buying only liability coverage.
There are a few cases where only buying liability is not financially feasible. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should not buy liability only.