Save Money on Mitsubishi Lancer Insurance in Oklahoma City

If you want to save money, the best way to get the cheapest auto insurance rates in Oklahoma City is to begin comparing prices regularly from providers who provide car insurance in Oklahoma.

1. Spend some time learning about how companies set rates and the measures you can control to drop your rates. Many factors that result in higher rates like getting speeding tickets and a less-than-favorable credit rating can be eliminated by making minor driving habit or lifestyle changes.
2. Obtain price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give prices from a single company like GEICO or Farmers Insurance, while agents who are independent can provide price quotes for many different companies.
3. Compare the price quotes to your current policy to determine if you can save on Lancer insurance. If you can save money and decide to switch, make sure there is no lapse in coverage.
4. Notify your current company of your intent to cancel your current auto insurance policy and submit a completed application and payment to the new company. Don’t forget to place your new proof of insurance paperwork in your glove compartment.

One thing to point out is that you’ll want to make sure you compare the same deductibles and limits on every price quote and to quote with every company you can. Doing this provides a level playing field and maximum price selection.

We don’t have to point out that fact that insurance companies don’t want you shop around. People who shop rates annually are likely to buy a new policy because there is a good probability of finding a policy with better rates. A recent study showed that consumers who compared rate quotes regularly saved an average of $3,450 over four years as compared to drivers who don’t regularly compare prices.

If finding discount rates on car insurance in Oklahoma City is your ultimate goal, then learning about how to compare insurance can help you be more efficient.

If you already have coverage or just want to save money, take advantage of these tips to get lower rates without having to cut coverage. Choosing the most cost-effective insurance policy in Oklahoma City is not rocket science. Vehicle owners just need to understand the tricks to compare company rates over the internet.

Affordable Mitsubishi Lancer insurance in Oklahoma City

Car insurance companies don’t always publicize all their discounts very clearly, so the next list breaks down some of the best known and also the more inconspicuous discounts that may be available.

• Auto/Home Discount – If you insure your home and vehicles with the same company you could get a discount of at least 10% off all policies.
• Accident-Free Discounts – Drivers who don’t have accidents get the best car insurance rates when compared with bad drivers.
• Oklahoma City Homeowners Pay Less – Owning a home in Oklahoma City can save you money due to the fact that maintaining a home requires a higher level of personal finance.
• Theft Prevention Discount – Vehicles with anti-theft systems are stolen less frequently and will qualify for a discount on a Oklahoma City auto insurance quote.
• 55 and Retired – Older drivers can possibly qualify for a slight reduction on a Oklahoma City auto insurance quote.
• Safe Drivers – Drivers who avoid accidents could pay up to 40% less than less cautious drivers.
• Discount for Low Mileage – Keeping the miles down on your Mitsubishi may allow you to get slightly better prices than normal.
• Early Signing – Some larger companies give discounts for signing up before your current expiration date. You could save around 10% when you buy Oklahoma City auto insurance online.

It’s important to note that most discounts do not apply to the entire policy premium. Some only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So even though you would think you could get a free car insurance policy, it just doesn’t work that way. But all discounts will reduce your policy premiums.

The diagram below illustrates the comparison of Mitsubishi Lancer annual premium costs with and without discounts applied to the premium. The costs are based on a female driver, no driving violations, no at-fault accidents, Oklahoma state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, marriage, safe-driver, homeowner, claim-free, and multi-car discounts applied.

Some of the insurance companies that may have most of the discounts above include:

• State Farm
• GEICO
• Allstate
• SAFECO
• Farm Bureau
• Progressive
• AAA

Before purchasing a policy, check with each company or agent which discounts they offer. A few discounts may not be available in Oklahoma City. If you would like to view providers who offer discounts in Oklahoma, click here.

Compare Oklahoma City Mitsubishi Lancer insurance quotes online

Getting a cheaper price on insurance is a great way to save money. You just need to take time to compare rates to discover which company has the cheapest Mitsubishi Lancer rate quotes.

Comparing free price quotes online is easy and it, takes the place of having to spend your day driving to all the different insurance agencies. Buying insurance online eliminates the middleman unless you have a need for the advice and guidance of a local agent. It is possible with some companies get prices online but have a local agent actually write the policy.

The companies shown below offer price comparisons in Oklahoma City, OK. If multiple companies are shown, we recommend you visit as many as you can to find the most competitive auto insurance rates.

Mitsubishi Lancer insurance rates and statistics

The coverage information below highlights a range of insurance costs for Mitsubishi Lancer models. Having a better idea how policy rates are formulated can assist in making smart choices when buying a car insurance policy.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Price estimates do not factor in vehicle garaging location which can decrease or increase prices considerably.

Where to set your deductibles

A question often asked by Oklahoma City drivers is how high should the deductibles for physical damage be. The comparison tables below may help to conceptualize how much more you’ll pay between low and high insurance deductibles. The first set of rates uses a $100 deductible for comprehensive and collision coverage and the second price table uses a $1,000 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Price information does not factor in garaging location in Oklahoma City which can change rates substantially.

Using the data above, we can ascertain that using a $100 deductible costs approximately $57 more each month or $684 a year across all Mitsubishi Lancer models than buying the higher $1,000 deductible. Since you would have to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you have at least 16 months between claims, you would more than likely save some money going with the higher deductible.

The chart below illustrates how your deductible choice and can increase or decrease Mitsubishi Lancer annual premium costs for different age groups of insureds. The rates are based on a married male driver, comp and collision included, and no discounts are taken into consideration.

Mitsubishi Lancer liability rates compared to full coverage

The diagram below illustrates the difference between Mitsubishi Lancer car insurance rates with and without physical damage coverage. The data assumes no driving violations, no at-fault accidents, $100 deductibles, drivers are not married, and no discounts are factored in.

When to drop full coverage

There is no written rule to delete physical damage coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than 10% of replacement cost minus your deductible, then it might be time to buy liability only.

For example, let’s assume your Mitsubishi Lancer settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company would pay you is $4,000 after the policy deductible has been paid. If you are paying over $400 a year for your policy with full coverage, then it may be the right time to buy liability only.

There are some cases where eliminating full coverage is not recommended. If you still owe a portion of the original loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.

Buy Mitsubishi Lancer Insurance Cheaper

When buying car insurance it’s important to understand the rating factors that help determine the rates you pay for car insurance. When consumers understand what positively or negatively impacts your premiums, this allows you to make good choices that can help you get better car insurance rates.

• Females tend to cost less – Statistics demonstrate that females take fewer risks when driving. However, this does not mean males are worse at driving than females. Women and men cause at-fault accidents in similar percentages, but men cause more damage and cost insurance companies more money. Men also tend to get more serious tickets like driving under the influence (DUI). Teenage male drivers tend to get in the most accidents and are penalized with high car insurance rates.

  The information below shows the comparison of Mitsubishi Lancer insurance prices for male and female drivers. The premiums are based on no violations or accidents, full physical damage coverage, $100 deductibles, drivers are single, and no additional discounts are factored in.

• High performance equals high premiums – The performance of the vehicle you need to insure makes a huge difference in how high your rates are. The lowest performance passenger cars receive the most favorable rates, but that’s not the only thing that factors into the final price.

  The next chart is based on a single female driver age 20, full coverage with $250 deductibles, and no discounts or violations. It compares Mitsubishi Lancer policy rates compared to other vehicles that have different risk factors.

• Do you qualify for a multi-policy discount? – The majority of companies apply better rates to clients who consolidate policies with them. It’s known as a multi-policy discount. Discounts can add up to ten or even fifteen percent. Even if you qualify for this discount already, drivers will still want to comparison shop to make sure you are getting the best deal.
• Bad credit hurts insurance premiums – Credit rating can be an important factor in determining premium rates. If your credit rating is not that good, you could potentially save money when insuring your Mitsubishi Lancer by improving your credit score. Drivers with high credit scores tend to file fewer claims and have better driving records than those with lower credit scores.
• Cars with good safety ratings are cheaper to insure – Cars with high safety ratings can get you lower premiums. Safe vehicles reduce injuries and any reduction in injury severity means less money paid by your insurance company and cheaper rates on your policy.
• Prices and your address – Being located in a rural area is a good thing when talking about car insurance. Drivers in populated areas have to deal with more traffic problems and a longer drive to work. Fewer drivers on the road translates into fewer accidents in addition to fewer liability claims.

• Lower rates come with age – Inexperience drivers are statistically proven to be inattentive behind the wheel so they pay higher car insurance rates. Adding a teen driver onto a policy can break the bank. Mature drivers are shown to be more cautious, file fewer claims, and usually have better credit.

  The next chart uses these variables: single driver, full coverage with $1000 deductibles, and no discounts or violations.

• Traffic violations drive up costs – Attentive drivers get better prices compared to drivers with tickets. Having a single driving citation may increase your cost by as much as thirty percent. Drivers who get careless tickets like hit and run, DWI or reckless driving convictions may find they need to complete a SR-22 with their state’s licensing department in order to legally drive a vehicle.

  The diagram below shows how traffic citations and at-fault accidents can raise Mitsubishi Lancer insurance premiums for different ages of insureds. The data is based on a married male driver, comp and collision included, $500 deductibles, and no discounts are factored in.

• Mitsubishi Lancer insurance claim data – Companies take into consideration historical loss data for every vehicle when they set coverage costs for each model. Models that have high amounts or severity of claims will cost more for coverage. The table below shows the insurance loss data used by companies for Mitsubishi Lancer vehicles.

  For each type of coverage, the loss probability for all vehicles compiled together is set at 100. Percentage values below 100 imply a favorable loss record, while percentages above 100 point to more losses or a tendency for losses to be larger than average.

  
  

  Mitsubishi Lancer Insurance Claim Statistics

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Mitsubishi Lancer 2WD	153	146	127	192	218	172
  Mitsubishi Lancer 4WD	149	131	148	135
  Mitsubishi Lancer Evolution 4WD	225	123	221

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Local Oklahoma City insurance agents and auto insurance

Many people would rather get advice from a local agent and that can be a smart move Good insurance agents are trained risk managers and will help you if you have claims. One of the best bonuses of comparing auto insurance online is that drivers can save money and get better rates and still buy from a local agent. Buying from local insurance agencies is still important in Oklahoma City.

After completing this short form, your information is immediately sent to participating agents in Oklahoma City that provide free Oklahoma City auto insurance quotes for your insurance coverage. There is no need to contact an agency due to the fact that quote results will go directly to you. If you want to compare rates from a specific auto insurance provider, feel free to navigate to their website and give them your coverage information.

When narrowing the list to find a local Oklahoma City insurance agency, there are a couple of types of agencies and how they differ in how they quote coverages. Insurance agencies in Oklahoma City are either exclusive agents or independent agents. Either can properly insure your vehicles, but we need to point out the differences because it can factor into which type of agent you select.

Independent Auto Insurance Agents

These agents are not employed by any specific company so they can quote policies with many different companies depending on which coverage is best. If you want to switch companies, an independent agent can move your coverage and you won’t have to switch agencies.

If you need lower rates, it’s recommended you include rate quotes from a couple of independent agencies to ensure the widest selection of prices.

Listed below are independent insurance agencies in Oklahoma City that may be able to provide cheap rate quotes.

More insurance agents

Exclusive Insurance Agencies

These agents are contracted to one company and some examples include Farmers Insurance, American Family, State Farm and Allstate. These agents are unable to provide other company’s prices so keep that in mind. Exclusive agents are highly trained on sales techniques which helps them sell insurance even at higher premiums.

Below is a list of exclusive insurance agencies in Oklahoma City who can help you get price quote information.

More insurance agents

Picking a car insurance agent should depend on more than just a cheap price. Any good agent in Oklahoma City should know the answers to these questions.

• Are there any discounts for paying up front?
• Are they full-time agents?
• How often do they review policy coverages?
• Are aftermarket or OEM parts used to repair vehicles?
• Are they able to provide referrals?
• If you raise deductibles, how much can you save?

Car insurance in Oklahoma serves several purposes

Despite the fact that car insurance is not cheap in Oklahoma City, insurance may be mandatory for several reasons.

• Almost all states have minimum liability requirements which means it is punishable by state law to not carry specific limits of liability in order to get the vehicle licensed. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If you have a loan on your vehicle, almost all lenders will make it a condition of the loan that you have full coverage to guarantee their interest in the vehicle. If you do not keep the policy in force, the lender may have to buy a policy to insure your Mitsubishi at a much higher premium rate and force you to reimburse them the higher premium.
• Insurance protects both your vehicle and your assets. It will also provide coverage for most medical and hospital costs that are the result of an accident. Liability insurance, one of your policy coverages, also covers legal expenses in the event you are sued. If your Mitsubishi gets damaged, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.

The benefits of carrying adequate insurance greatly outweigh the cost, especially if you ever need it. On average, a vehicle owner in Oklahoma City is overpaying more than $830 a year so you should quote and compare rates at every renewal to ensure rates are competitive.

Persistent drivers can save

We just presented some good ideas how you can compare Mitsubishi Lancer insurance rates in Oklahoma City. It’s most important to understand that the more rate quotes you have, the higher your chance of finding cheaper Oklahoma City auto insurance quotes. You may even be surprised to find that the lowest priced car insurance comes from an unexpected company. These companies may only write in your state and offer lower auto insurance rates as compared to the big name companies such as State Farm or Progressive.

More affordable car insurance in Oklahoma City can be sourced online and also from your neighborhood Oklahoma City agents, so you need to quote Oklahoma City auto insurance with both in order to have the best chance of saving money. Some companies may not provide online price quotes and these smaller companies only sell coverage through independent agents.

More detailed car insurance information is available in the articles below:

• Preventing Carjacking and Theft (Insurance Information Institute)
• Who Has Affordable Car Insurance Rates for a Honda Accord in Oklahoma City? (FAQ)
• Who Has Affordable Auto Insurance Rates for Felons in Oklahoma City? (FAQ)
• What Insurance is Cheapest for a Subaru Forester in Oklahoma City? (FAQ)
• How Much are Car Insurance Rates for Teenage Males in Oklahoma City? (FAQ)
• Airbag FAQ (iihs.org)
• Collision Coverage (Liberty Mutual)
• Prom Night Tips for Teen Drivers (State Farm)
• Should I Buy a New or Used Car? (Allstate)