It’s impossible to miss the catchy advertisements from insurers like Liberty Mutual and State Farm promising big savings, so you just need to choose the one with the flashiest ad, right?
It’s just not that easy, however, as there are many unknown aspects like when you were born, your financial stability, and the deductible level you need, that all influence how much you pay for auto insurance. If you keep reading, we will teach you about the best ways to avoid high prices and will give you a good start in finding the cheapest insurance.
For minors, one of the big things that are looked at to determine car insurance rates is where you live. More densely populated places tend to have higher auto insurance costs, whereas areas with lower vehicle theft rates and fewer weather claims have the benefit of cheaper car insurance.
The following table shows the most expensive areas in Oklahoma for drivers under 21 in which to purchase auto insurance. Oklahoma City shows up at #2 with a yearly premium of $2,199 for car insurance, which is approximately $183 monthly.
|Rank||City||Average Per Year|
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Price information shown is approximated as specific location information can increase or decrease premiums noticeably.
The type of vehicle you are trying to insure is probably the biggest factor when shopping around for the most affordable coverage for drivers under 21. Vehicles with limited top-end speed, excellent safety ratings, or low incidents of liability claims will cost less to insure than higher performance models.
The next list illustrates auto insurance rates for a number of the cheapest vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord EX 4-Dr Sedan||$2,448|
|Ford Escape XLT 2WD||$2,456|
|Honda CR-V EX-L 4WD||$2,484|
|Jeep Wrangler Rubicon 4WD 2-Dr||$2,743|
|Dodge Grand Caravan SE||$2,753|
|Ford Explorer XLT 2WD||$2,743|
|Ford F-150 XLT Super Cab 4WD||$2,779|
|Volkswagen Jetta SE 2.5 Station Wagon||$2,834|
|Honda Odyssey EX||$2,865|
|Jeep Grand Cherokee Laredo 4WD||$2,901|
|Chevrolet Impala LT||$2,907|
|Toyota RAV4 Limited 4WD||$2,901|
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Table data represents single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium amounts do not factor in specific location information which can revise coverage prices substantially.
Based upon the table data, we can expect cars like the Honda Accord, Ford Escape, Honda CR-V, Toyota Prius, and Jeep Wrangler are going to be a few of the most affordable vehicles to insure for minors. Auto insurance rates will tend to be more expensive just due to the fact that there is a higher risk for drivers under 21, but in general those particular models will most likely have the lowest prices available.
Finding decent, cheap auto insurance is not easy, and finding out which company has the most affordable insurance rates for drivers under 21 will take even more perseverance. Every auto insurer has a unique approach for filing rates in each state, so we need to take a look at the lowest cost insurance companies in Oklahoma.
It’s important to understand that Oklahoma insurance rates are impacted by many things which can substantially change the price of your policy. This price variation is why Oklahoma drivers need to shop around with many companies to find cheap auto insurance quotes for drivers under 21. Insurance prices are impacted by many things and change substantially, so the most affordable company the last time you compared rates may now not even be in the top five.
Find Cheaper Auto Insurance for Minors
|Rank||Company||Cost Per Year|
|2||Oklahoma Farmers Union||$1,190|
|11||OK Farm Bureau||$2,058|
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USAA may offer some of the best car insurance rates in Oklahoma City at around $1,185 each year. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto also rank well as some of the most economical Oklahoma City, OK auto insurance companies.
In the above example, if you are currently insured with Safe Auto and switched to Oklahoma Farmers Union, you could earn savings of in the vicinity of $215. Policyholders with Farmers might save as much as $232 a year, and State Farm policyholders might cut rates by $393 a year.
Understand that those prices are averages across all drivers and vehicles in Oklahoma and do not factor in a specific vehicle garaging location for drivers under 21. So the company that is most affordable for your situation may not even be in the list above. That emphasizes why you need to get rate quotes using your own personal information and vehicle type.
How to get discounts on Oklahoma City auto insurance
Car insurance companies that provide policies for drivers under 21 may additionally offer discounts that can reduce rates by 35% or more if you meet eligibility requirements. Popular insurance companies and a partial list of their discounts are outlined below.
- State Farm offers premium reductions for accident-free, Drive Safe & Save, defensive driving training, safe vehicle, and Steer Clear safe driver discount.
- American Family includes discounts for good student, multi-vehicle, accident-free, bundled insurance, Steer into Savings, good driver, and mySafetyValet.
- GEICO policyholders can earn discounts including anti-theft, multi-vehicle, air bags, federal employee, and military active duty.
- 21st Century has discounts for early bird, homeowners, air bags, student driver, teen driver, and 55 and older.
- Progressive may offer discounts for multi-vehicle, homeowner, online signing, multi-policy, continuous coverage, and good student.
The information below shows the difference between insurance costs with and without discounts applied to the rates. The rates are based on a female driver, no tickets, no at-fault accidents, Oklahoma state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with continuous coverage, paid-in-full, paperless filing, vehicle safety, passive restraint, and good student discounts applied. With discounts applied, the average savings per year on insurance for drivers under 21 is 21% or $472.
Selecting a highly-rated car insurance company can be challenging considering how many choices there are in Oklahoma City. The ranking data listed below could help you select which companies you want to consider purchasing from.
These rankings are only made up of companies who write in the majority of U.S. states, so smaller regional companies are not taken into consideration for these rankings. To get rate quotes from many more Oklahoma auto insurance companies, follow this link.
Top 10 Large Auto Insurers Overall in Oklahoma City
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Top 10 Large Auto Insurers in Oklahoma City Ranked by Customer Service
- Mercury Insurance
- Safeco Insurance
- AAA Insurance
- State Farm
- The Hartford
- The General
The chart below illustrates how your deductible choice can increase or decrease premium costs when getting quotes for cheap insurance for drivers under 21. The data is based on a single female driver, full physical damage coverage, and no other discounts are factored in.
As shown above, a 40-year-old driver could lower their car insurance rates by $426 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $644 by switching to a $1,000 deductible. Younger drivers, like the 20-year-old example, could save as much as $1,082 or even more by using higher deductibles when buying full coverage.
When raising deductibles, it is essential to have enough savings set aside to be able to cover the extra out-of-pocket expense associated with higher deductibles.