Finding economical insurance for a Toyota Corolla in Oklahoma is pretty simple, but it relies on a lot of rating factors such as how old the vehicle is, the likelihood of your vehicle being stolen, and citations on your driving record. Drivers in Oklahoma pay approximately $1,821 each year for Corolla insurance, but that cost is an estimate calculated based on a 30-year-old single female driver with full comprehensive and collision coverage and $100 deductibles.
There is a good probability you are not 30 and maybe not even a female, you might be married instead of single, or maybe you want different physical damage deductibles. Having just a slight change in rating variables could end up in a significant change in rates.
Auto insurance is not the same for everyone, so the best way to find cheap insurance rates for your Toyota is to put in the effort to do a thorough rate comparison.
Vehicle trim level will most likely have an effect on the yearly cost, so the price you pay to insure a Corolla LE model will be $56 lower than the price to insure the more well-appointed Corolla XRS model, as shown by the rates below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Premium data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Estimates do not factor in specific location which can impact prices considerably.
Figuring out which companies quote the cheapest insurance rates for a Toyota Corolla calls for more time in order to find the most economical policy. Each company uses their own calculation for determining rates, so let’s take a look at the most budget-friendly insurance companies in Oklahoma City, OK.
It’s important that readers know that Oklahoma City insurance rates are determined by lots of factors which can significantly increase or decrease the price you have to pay. Simply turning a year older, getting divorced, or getting a ticket for careless driving may cause policy rate changes resulting in some companies being cheaper than competitors.
Find Cheaper Car Insurance for Your Corolla
|Rank||Company||Cost Per Year|
|2||Oklahoma Farmers Union||$1,154|
|11||OK Farm Bureau||$2,058|
|Find Your Rate Go|
USAA normally has some of the lowest car insurance rates in Oklahoma City at around $1,150 annually. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto are also some of the lowest-priced Oklahoma City, OK auto insurance companies.
As the rates illustrate above, if you currently have a policy with Oklahoma Farmers Union and switched to USAA, you may realize a yearly savings of upwards of $4. Customers with The Hartford may save as much as $169 a year, and GEICO customers might lower prices by $203 a year.
If you want to see how much you could save, click here to start a quote or click through to the companies below.
It’s important to note that these estimates are averaged for all drivers and vehicles and are not factoring in a specific zip code for a Toyota Corolla. So the company that fits your age and vehicle best may not even be in the top 17 companies shown above. That point stresses why you need to get rate quotes using your own individual information.
Discounts on Oklahoma City insurance rates
Insurers that offer quotes for a Toyota Corolla may also provide rate discounts that can lower rates by as much as 30% if you are eligible for them. A list of insurance companies and some of the discounts include:
- State Farm discounts include defensive driving training, multiple policy, Steer Clear safe driver discount, good student, and multiple autos.
- GEICO may include discounts for daytime running lights, multi-policy, defensive driver, anti-theft, and membership and employees.
- SAFECO may have discounts that include bundle discounts, anti-theft, accident prevention training, drive less, and safe driver.
- Farmers Insurance may offer discounts for pay in full, switch companies, youthful driver, good student, and distant student.
- AAA offers discounts including anti-theft, good student, pay-in-full, AAA membership discount, education and occupation, good driver, and multi-car.
- USAA has savings for multi-policy, military installation, multi-vehicle, safe driver, and good student.
The chart below visualizes the comparison of car insurance rates with and without discounts applied to the policy premium. The data is based on a female driver, no driving violations, no at-fault accidents, Oklahoma state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with multiple vehicle, vehicle safety, homeowner, anti-theft, claim-free, and multiple policy discounts applied. With discounts applied, theamount saved on insurance for a Toyota Corolla is 28% or $632.
Full coverage versus liability-only in Oklahoma City
Saving on insurance is the goal of the majority of vehicle owners, and a good way to find cheaper insurance for a Toyota Corolla is to not buy full coverage. The illustration below compares insurance costs with full coverage and liability only. The rate quotes are based on no claims or violations, $500 deductibles, single status, and no discounts are taken into consideration.
As an overall average, full coverage costs an extra $2,652 per year more than buying just liability insurance. That is a significant amount which raises the question when is the right time to remove full coverage. There is no definitive formula of when to eliminate physical damage insurance, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
Who has the cheapest Corolla insurance?
Oklahoma insurance rates are influenced by many factors that control the price you have to pay for coverage. Getting older, buying a home, or getting a DUI may generate price changes resulting in some companies being cheaper in comparison to the competition.
Additionally, companies change premium rates every year in order to remain profitable. Significantly higher losses can cause higher priced premiums, while profitable underwriting can produce lower-cost Corolla insurance rates.
The data below shows the company with the cheapest car insurance in Oklahoma City, OK for a 35-year-old male driver with no prior accidents, a clean driving record, and a good credit history. If we estimate prices based on his current rating profile, USAA offers the cheapest car insurance rates in Oklahoma City at $1,302 a year. This is $665 less than the average price paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, GEICO, The Hartford, and Safe Auto are also included in the most affordable Oklahoma City, OK auto insurance companies.
In this example, we will give the driver in the first example a chargeable claim, poor credit, and a traffic ticket or two. Due to the fact that each insurance company has their own formula for establishing rates, getting updated rate quotes could result in a new list of the cheapest car insurance companies in Oklahoma City as shown below.
State Farm now has the best price in Oklahoma City with Oklahoma Farmers Union, Liberty Mutual, GEICO, and Safe Auto completing the list. This example proves why drivers need to shop around when trying to get affordable car insurance rates for a Toyota Corolla. Insurance prices consist of many things and change substantially, so the lowest-price company when you last compared rates may now be costing you a lot of money.
The agencies below are willing to help you make a decision which auto insurance coverages would be the best in your situation, since some people prefer to have the advice of a professional agent when shopping for the best coverage for a Corolla. It can be time-consuming to find the best policy on your own, so getting advice from a licensed Oklahoma insurance agent can provide satisfaction knowing you have enough coverage if you have a claim.
To find an Oklahoma City insurance agency close to where you live, click the button following the list or click here to compare rates now.
Ledbetter Insurance and Risk
1000 NW Grand Blvd #110 – Oklahoma City, OK 73118 – (405) 840-9090
1225 W Britton Rd – Oklahoma City, OK 73114 – (405) 842-2377
Freeland Insurance, LLC
6017 Shiloh Dr – Oklahoma City, OK 73179 – (405) 692-6106
How to find economical insurance for a Toyota Corolla
The list below summarizes a few penny-pinching solutions that can help drivers quote low-cost auto insurance.
- Try to not file small claims
- Bundle car and home insurance and save money
- Higher deductibles mean lower rates
- On older vehicles, drop full coverage
- Good credit scores may make rates cheaper
- Safe vehicles cost less to insure
- Shop around for cheaper prices
The last tip in the list is notably important, as we discussed in this write-up. Coverage prices can change considerably based on profitability, so don’t be afraid to buy from a different company if a better rate can be found. Sticking with a specific company is fine, but is isn’t recommended if that devotion results in you overpaying a small fortune year after year. In just a few minutes you could compare prices and find cheaper car insurance for a Toyota Corolla in Oklahoma City.