One of the many components that aid in calculating the annual cost of car insurance is your zip code. Regions with larger populations or more claims tend to have more expensive car insurance rates, whereas areas that tend to be more rural benefit from having to pay less for coverage.
The illustration below sorts the highest-priced places in Oklahoma for a school permit to buy car insurance in. Oklahoma City comes in at #10 with an annual rate of $2,113 for the average policy, which is approximately $176 monthly.
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Rate information is approximated as specific Oklahoma City garaging address can increase or decrease coverage prices significantly.
The car, truck, or SUV you are insuring is a large consideration that determines whether or not you find economical coverage for a school permit. Vehicles with limited speed and performance, good crash test ratings, or low incidents of liability claims will cost much less to insure than adrenaline junky models. The table below features auto insurance rates for a number of the more affordable vehicles to insure in Oklahoma.
|Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$3,942|
|Honda Accord LX-P 4-Dr Sedan||$3,948|
|Ford Escape XLT 4WD||$3,980|
|Honda CR-V EX-L 2WD||$3,990|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$4,390|
|Ford F-150 XLT Regular Cab 2WD||$4,397|
|Toyota Tacoma 4WD||$4,427|
|Ford Explorer XLT AWD||$4,432|
|Volkswagen Jetta 2.0T Station Wagon||$4,517|
|Chevrolet Impala LS||$4,639|
|Honda Odyssey EX||$4,645|
|Ford Edge SEL AWD||$4,639|
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Table data assumes single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, and claim-free. Table data does not factor in vehicle location which can raise or lower prices substantially.
Based on these rates, you can expect vehicles like the Hyundai Elantra, Honda Accord, Ford Escape, and Honda CR-V are going to be the less-costly vehicles to insure for a learners permit. The price of auto insurance will be more expensive because of the fact that there is a higher risk for a school permit, but in general those particular vehicles will most likely have the best insurance prices compared to other vehicles.
Which insurance company is best in Oklahoma City?
Insuring your vehicle with a high-quality insurer can be difficult considering how many different companies sell coverage in Oklahoma. The ranking data in the next section can help you analyze which insurers to look at buying from. These ratings include major nationwide insurance companies, so companies with more of a regional focus are not factored into the list.
Top 10 Major Auto Insurance Providers in Oklahoma City Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- AAA Insurance
- The Hartford
Top 10 Major Auto Insurance Providers in Oklahoma City Ranked by Value
- Mercury Insurance
- American Family
- Safeco Insurance
- AAA Insurance
- The Hartford
- 21st Century
- The General
Should you buy full coverage?
Reducing premiums for insurance is probably important to most drivers, and one good way to find cheap insurance for a school permit is to not pay for full coverage. The information below shows the difference between insurance costs with full physical damage coverage and with liability coverage only. The price estimates are based on no violations or accidents, $1,000 deductibles, drivers are not married, and no discounts are factored in.
If the expense is averaged for all age categories, physical damage coverage on your policy costs $1,878 per year more than just buying liability insurance. Many of you may wonder if you should buy full coverage. There is no definitive guideline that is best for determining when to drop full coverage, but there is a general guideline you can use. If the annual cost of having full coverage is about 10% or more of the replacement cost minus the deductible, then it might be time to buy liability only.
There are some cases where eliminating full coverage is not financially feasible. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle in case of an accident, you should not opt for liability only.
The chart below illustrates how your choice of deductibles can raise or lower insurance premiums when trying to find cheap insurance for a school permit. The costs are based on a married female driver, comp and collision included, and no discounts are taken into consideration.
The chart above illustrates that a 30-year-old driver could reduce rates by $354 a year by increasing from a $100 deductible up to a $500 deductible, or save $538 by switching to a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could shave $758 or even more by using a higher deductible. If you do make the decision to raise your deductibles, it’s a good idea to have plenty of money set aside to allow you to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Why you should be shopping around
Oklahoma City insurance rates are based on many factors that will increase or decrease the price of coverage. Simply improving your credit, buying a new vehicle, or having an at-fault accident may prompt premium changes that can make some companies more affordable than the competition. In addition to those changes, companies file new Oklahoma car insurance rates as needed to ensure their profitability. Significantly higher claims may result in more expensive prices, while lower claim levels can cause more affordable Oklahoma City car insurance rates.
To illustrate this example, the graph below shows rates for the cheapest car insurance in Oklahoma City, OK for a 30-year-old male driver with no accidents or violations, and good credit. If we look at prices based on his current risk profile, USAA might quote the most affordable car insurance rates in Oklahoma City at $1,362 a year. This is $605 less than the average premium paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto are also included in the most affordable Oklahoma City, OK auto insurance companies.
Now we will give the driver from the first rate comparison a claim or two, poor credit, and a traffic ticket or two. Since every car insurance company has their own process to set their prices, comparing prices may now present a different set of the cheapest Oklahoma City car insurance companies as shown below.
State Farm now has the cheapest car insurance in Oklahoma City with Oklahoma Farmers Union, Liberty Mutual, The Hartford, and Travelers also being competitive. This example illustrates why it is important to shop around with many companies when trying to find the lowest auto insurance quotes for a school permit. Auto insurance prices are calculated by many different factors and change substantially, so the most affordable company the last time you compared rates may now be an over-priced policy.