The car, truck, or SUV you are buying coverage for is a large consideration when consumers are trying to find the cheapest car insurance for welfare recipients. Vehicles with lots of speed or power, a lack of advanced safety features, or a high likelihood of having liability claims will cost much more to insure than more economical and safe models. The next table illustrates car insurance prices for the most budget-friendly vehicles to insure.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$1,148|
|Honda CR-V LX 2WD||$1,158|
|Ford Explorer XLT 4WD||$1,288|
|Dodge Grand Caravan CV||$1,294|
|Ford Escape Limited 2WD||$1,331|
|Jeep Grand Cherokee Laredo 4WD||$1,360|
|Toyota RAV4 2WD||$1,366|
|Ford Fusion S 4-Dr Sedan||$1,360|
|Honda Accord EX-L 4-Dr Sedan||$1,368|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$1,387|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$1,402|
|Toyota Tacoma 4WD||$1,404|
|Ford Focus SES 4-Dr Sedan||$1,409|
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Cost estimates assume single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Rate information does not factor in specific garaging location which can modify prices substantially.
Based upon the rates shown, you can assume that models like the Hyundai Elantra, Honda CR-V, and Ford Explorer are most likely going to be a few of the cheaper vehicles to insure for drivers on welfare.
Establishing which companies have the cheapest car insurance rates for welfare recipients involves a bit more effort than just getting one or two price quotes. Every auto insurer has a proprietary method to determine premium rates, so let’s take a look at the overall cheapest car insurance companies in Oklahoma.
It’s important that readers know that Oklahoma car insurance rates are influenced by many factors that will increase or decrease the cost of your policy. Improving your credit score, buying a different vehicle, or getting caught speeding may prompt premium changes that can cause some rates to be more affordable than the competition.
Best Car Insurance Prices in Oklahoma
Oklahoma Farmers Union has some of the most affordable car insurance rates in Oklahoma City at around $1,166 annually. This is $801 less than the average rate paid by Oklahoma drivers of $1,967. USAA, The Hartford, GEICO, and Safe Auto would also be considered some of the cheaper Oklahoma City, OK auto insurance companies.
In the rate table above, if you buy coverage from The Hartford and switched to Oklahoma Farmers Union, you might realize yearly savings of about $167. Oklahoma drivers with GEICO might save as much as $187 a year, and Safe Auto customers might realize rate reductions of up to $197 a year.
Bear in mind that those premium estimates are averaged for all insureds and vehicles and and are not calculated with a specific zip code for welfare recipients. So the auto insurance company that can offer the best rates for your situation may not even be in the top 17 companies shown above. That points out the importance of why you need to get auto insurance quotes using your own specific driver and vehicle information.
The example below demonstrates how choosing different deductibles can influence insurance prices when getting quotes for cheap insurance for welfare recipients. The costs are based on a single female driver, comp and collision included, and no discounts are applied.
As shown above, a 50-year-old driver could lower their policy premium by $354 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $538 by choosing a $1,000 deductible. Even younger insureds, like the 20-year-old category, have the ability to save as much as $902 or even more by choosing a larger deductible amount. If you do decide to increase your deductibles, it is a good idea to have enough savings set aside to enable you to cover the extra out-of-pocket expense, which is the main drawback of higher deductibles.
Price comparison of only insuring for liability
Lowering the price of car insurance is the goal of most drivers, and one of the fastest ways to find cheap insurance for welfare recipients is to only pay for liability coverage. The information below illustrates the comparison of annual premium costs when comparing full coverage to liability only. The premiums assume a clean driving record, no at-fault accidents, $500 deductibles, single marital status, and no additional discounts are factored in.
Averaged for all age groups, comprehensive and collision coverage on your policy costs $2,308 per year more than carrying just liability coverage. That raises the question if full coverage is worth the money. There is no definitive rule of when to drop full coverage on your policy, but there is a general convention. If the yearly cost of full coverage is more than about 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
Bad driving habits will cost you more
A great way to snag affordable car insurance prices for drivers on welfare is to drive attentively and avoid accidents and keep your driving record clean. The illustration below illustrates how violations and accident claims can raise insurance rates for different insured age categories. The prices are based on a married male driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.
The data charted above shows the average cost of car insurance per year with no violations or accidents is $1,596. Get written up for one speeding ticket and the average cost jumps to $1,838, an increase of $242 each year. Next add two accidents along with the one speeding ticket and the annual cost of car insurance for welfare recipients jumps again to an average of $4,112. That’s an increase of $2,517, or $210 per month, just for not maintaining a clean driving record!
The importance of comparing Oklahoma City car insurance rates
Oklahoma City, OK car insurance rates are impacted by many factors which can significantly increase or decrease the cost of a policy. Simply having a birthday, becoming a homeowner, or getting a DUI may generate price changes resulting in some rates now being cheaper than before.
And not only may your rating factors change, but auto insurance companies amend premium rates at least once a year to adjust for unexpected claims or profits. A period of increased losses can result in additional premium costs, while lower claims can produce cheaper Oklahoma City car insurance rates.
To help illustrate this point, the data below shows the companies that have the cheapest car insurance in Oklahoma City, OK for a 40-year-old male driver with a clean driving record, no accidents, and a good credit history. If we estimate rates based on his personal risk profile, Oklahoma Farmers Union offers the cheapest car insurance rates in Oklahoma City at $1,395 per year. This is $572 less than the average policy premium paid by Oklahoma drivers of $1,967. USAA, GEICO, The Hartford, and Safe Auto are the remainder of the best Oklahoma City, OK auto insurance companies.
Now let’s give the driver in the first chart an accident claim, poor credit, and a speeding citation. Due to the fact that every insurance company uses their own method to set policy rates, getting updated rate quotes may now result in a significantly different list of affordable companies as shown below.
State Farm now has the cheapest auto insurance in Oklahoma City, OK with USAA, Liberty Mutual, Safe Auto, and Travelers now being in the top five. This shows why Oklahoma City drivers need to shop around to get the most affordable auto insurance rates for welfare recipients.
Rates can be altered by many factors and change dramatically, so the most economical company two years ago may now be costing you a lot of money.