One of the more important factors that determine the annual cost of car insurance is your zip code in Oklahoma City. Areas with more people or even just a higher incidence of claims will most likely pay more, whereas areas with less congestion have the benefit of cheaper car insurance.
The illustration below lists the most expensive cities in Oklahoma for low credit scores in which to buy car insurance. Oklahoma City ranks #8 with an annual cost of $2,134 for the average insured, which is around $178 each month.
|Rank||City||Average Per Year|
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Premium amounts are estimated as the vehicle garaging location can impact coverage rates significantly.
The vehicle you are buying coverage for is one of the largest factors that determines whether or not you find low-cost coverage for low credit scores. Vehicles with reasonable performance levels, a plethora of safety features, or a low likelihood of liability claims will cost much less to insure than fast, unsafe models.
The next table showcases coverage costs for the most economical automobiles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 4WD||$1,061|
|Honda Accord EX 4-Dr Sedan||$1,163|
|Honda CR-V LX 2WD||$1,200|
|Chevrolet Impala LT||$1,259|
|Toyota RAV4 Sport 2WD||$1,265|
|Hyundai Elantra SE Touring Station Wagon||$1,268|
|Ford Explorer Eddie Bauer 4WD||$1,282|
|Volkswagen Jetta S 2.5 Station Wagon||$1,298|
|Toyota Camry XLE||$1,326|
|Ford Edge SE AWD||$1,349|
|Dodge Grand Caravan SE||$1,351|
|GMC Sierra SLE Crew Cab 2WD||$1,377|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$1,409|
|Chevrolet Malibu Hybrid||$1,416|
|Hyundai Sonata SE 4-Dr Sedan||$1,422|
|Toyota Camry Hybrid||$1,440|
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Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Premium amounts do not factor in zip code location which can impact coverage prices noticeably.
By looking at the data, we can assume that models like the Ford Escape, Honda Accord, Honda CR-V, Chevrolet Impala, and Toyota RAV4 will be a few of the most economical vehicles to insure for bad credit.
Types of discounts on Oklahoma City car insurance rates
Insurers that offer cheap quotes for low credit scores may provide rate discounts that may potentially lower prices by as much as 35% if you meet the requirements. A few popular companies and the discounts they provide are outlined below.
- GEICO includes discounts for military active duty, anti-theft, daytime running lights, anti-lock brakes, and defensive driver.
- MetLife may include discounts for multi-policy, defensive driver, good driver, good student, accident-free, claim-free
- Progressive may offer discounts for online quote discount, homeowner, good student, online signing, multi-policy, multi-vehicle, and continuous coverage.
- Travelers offers discounts including multi-car, multi-policy, early quote, home ownership, save driver, and payment discounts.
- SAFECO policyholders can earn discounts including anti-theft, drive less, safe driver, anti-lock brakes, multi-car, and bundle discounts.
- AAA offers discounts for good student, multi-policy, anti-theft, good driver, and education and occupation.
The diagram below shows the difference between insurance costs with and without policy discounts. The premium estimates are based on a female driver, no tickets, no at-fault accidents, Oklahoma state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The second bar shows the rates with defensive driving course, marriage, safe-driver, homeowner, accident-free, and multiple vehicle discounts applied. When these discounts are applied, the average savings per year on auto insurance for low credit scores is 28% or $673.
Ending up with the right insurer is hard considering how many different companies insure vehicles in Oklahoma. The rank data listed below may help you pick which auto insurance companies you want to consider when comparing insurance rates for low credit scores.
These rankings only include companies that insure vehicles nationwide, so companies without a large exposure are not taken into consideration for this list. To check rates from many more Oklahoma auto insurance companies, click here.
Top 10 Large Auto Insurance Companies in Oklahoma City Ranked by A.M. Best Rating
- Travelers – A++
- GEICO – A++
- State Farm – A++
- USAA – A++
- Nationwide – A+
- Allstate – A+
- Mercury Insurance – A+
- The Hartford – A+
- Esurance – A+
- Progressive – A+
Top 10 Large Auto Insurance Companies in Oklahoma City Ranked by Customer Service
- Mercury Insurance
- Safeco Insurance
- AAA Insurance
- State Farm
- The Hartford
- The General
Why you should shop around
Oklahoma auto insurance rates are impacted by many things that will increase or decrease the price of your policy. Simply having another birthday, having a claim, or getting into an accident can trigger price changes that can cause some rates to be cheaper than competitors.
Not only may your situation change, but auto insurance companies modify pricing every year in order to remain profitable. Higher than usual claims can result in increased rates, while a lower level of claims can produce cheaper Oklahoma City car insurance rates.
For instance, the bar chart below shows which company has the cheapest car insurance in Oklahoma City, OK for a 45-year-old male driver with a good driving record, no prior claims, and a high credit rating. If we compare prices based on his current risk factors, Oklahoma Farmers Union might quote the lowest car insurance rates in Oklahoma City at $1,340 a year. This is $627 less than the average premium paid by Oklahoma drivers of $1,967. USAA, The Hartford, GEICO, and Safe Auto are also included in the most affordable Oklahoma City, OK auto insurance companies.
The next chart shows rates after we give the driver from the first set of rates an accident claim, less-than-perfect credit, and a blemish on his driving record. Since each insurance company uses a different method to determine rates, getting updated rate quotes most likely will result in a slightly different list of companies as shown below.
State Farm now has the best car insurance rate in Oklahoma City with USAA, Travelers, Liberty Mutual, and The Hartford also having competitive pricing. This example illustrates why it is important to spend some time comparing rates when trying to find the most affordable car insurance rates for low credit scores. Insurance rates consist of many different factors and change dramatically, so the cheapest company the last time you shopped your coverage around may now be an over-priced policy.
The agents shown below can aid you in deciding which coverages are best, since lots of people like to get help from a professional when comparing insurance rates for low credit scores. It can be challenging to find the best rates on your own, and professional agents can give you satisfaction knowing you have adequate protection in case of an accident or claim. To locate an Oklahoma City auto insurance agent closest to you, click the button after the list.
- Becky Stevens – State Farm Insurance Agent
7105 W Hefner Rd – Oklahoma City, OK 73162 – (405) 722-0004
- Shelter Insurance – Paul Michael
8320 S Western Ave – Oklahoma City, OK 73139 – (405) 632-2751
- Scott Godwin Insurance Agency – OKC Insurance
9026 SE 29th St – Oklahoma City, OK 73150 – (405) 600-6400
- Centennial Insurance Group, Inc.
2814 W Britton Rd – Oklahoma City, OK 73120 – (405) 286-4179