Wouldn’t life be so easy if we could tell you the best company that has the cheapest insurance for drivers with a bad driving record? It’s not that easy, however, as there are a ton of unknowns like the area you live in, if you are a homeowner, your driving record, and when you were born, that all influence how much you pay for auto insurance. This article will discuss some of these things and will hopefully give you a solid foundation to find cheaper car insurance in Oklahoma.
The make and model of vehicle on the policy is one of the largest considerations when quoting cheaper auto insurance for drivers with a bad driving record. Vehicles with economical engines, excellent safety ratings, or a low likelihood of having liability claims will cost significantly less to insure than high performance models. The data below features car insurance premiums for some of the most budget-friendly automobiles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda Accord EX-L 4-Dr Sedan||$4,084|
|Honda CR-V LX 2WD||$4,114|
|Ford Escape Limited 4WD||$4,278|
|Ford Focus SE 4-Dr Sedan||$4,499|
|Chevrolet Malibu LS||$4,541|
|Toyota Camry LE||$4,548|
|Chevrolet Silverado LS Extended Cab 4WD||$4,541|
|Toyota Corolla XLE||$4,747|
|Honda Odyssey EX-L W/Navigation||$4,755|
|Hyundai Elantra SE 4-Dr Sedan||$4,747|
|Nissan Altima 3.5 SR 4-Dr Sedan||$4,792|
|Ford Explorer Limited 4WD||$4,801|
|Ford Edge SE AWD||$4,818|
|Toyota RAV4 Sport 4WD||$4,869|
|Toyota Tacoma Double Cab 4WD||$4,921|
|Dodge Grand Caravan SXT||$4,926|
|Chevrolet Impala LTZ||$4,972|
|Jeep Grand Cherokee SRT-8 4WD||$5,017|
|GMC Sierra Denali Crew Cab 2WD||$5,038|
|GMC Sierra 3500HD SLE Extended Cab 2WD||$5,064|
|Hyundai Sonata SE 4-Dr Sedan||$5,146|
|Ford F-150 Lariat Crew Cab Platinum 2WD||$5,156|
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Cost estimates assume single female driver age 50, two speeding tickets, two at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-policy, homeowner, and multi-vehicle. Table data does not factor in specific location information which can influence premium rates considerably.
Based upon the table data, makes and models like the Honda Accord, Honda CR-V, and Ford Escape will be a few of the most affordable vehicles to insure for bad drivers. Prices will trend higher just due to the fact that there is more liability exposure for drivers with a bad driving record, but overall those particular models will probably have the cheapest car insurance rates that you’ll find.
Determining which insurers offer the best insurance rates for drivers with a bad driving record involves a bit more work in order to find the lowest price quote.
Each auto insurer uses a slightly different approach to set policy rates, so let’s take a look at the insurance companies that tend to have lower prices in Oklahoma City. It’s a good idea to know that Oklahoma City insurance rates are influenced by many factors that control the price you have to pay. Simply improving your credit, buying a new vehicle, or getting a DUI may cause policy rate changes that can make some companies more affordable than competitors.
Best Cheap Insurance Rates for Imperfect Drivers
|Rank||Company||Cost Per Year|
|1||Oklahoma Farmers Union||$1,166|
|11||OK Farm Bureau||$2,058|
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Oklahoma Farmers Union has some of the lowest car insurance rates in Oklahoma City at around $1,166 annually. USAA, GEICO, The Hartford, and Farmers also are some of the most economical Oklahoma City, OK insurance companies.
As depicted above, if you currently have coverage with USAA and switched to Oklahoma Farmers Union, you may realize a yearly price reduction of in the vicinity of $19. Customers with GEICO may save as much as $174 a year, and The Hartford policyholders might realize rate reductions of up to $207 a year.
To see if you’re overpaying, click here to begin a quote or visit any of the low-priced companies below.
It’s important to note that these prices are averages across all drivers and vehicles and and are not calculated with a specific location for drivers with a bad driving record. So the car insurance company that can offer the best rates for your situation may not even be in the top 17 companies in the list above. That’s why you need to compare as many prices as possible using your own personal information and vehicle type.
One of the more important considerations that help determine the cost of insurance is the neighborhood you call home. Areas with more people or more claims tend to have more expensive auto insurance rates, whereas areas with less people or fewer weather incidents tend to receive cheaper rates.
The table below rates the highest-priced places in Oklahoma for drivers with a bad driving record to buy auto insurance in. Oklahoma City is ranked #5 with an annual cost of $2,178 for car insurance, which is approximately $182 per month.
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Information shown are estimated as the specific zip code location can influence prices significantly.
How to get discounts on Oklahoma City auto insurance
Car insurance companies that provide policies for drivers with a bad driving record may provide policy discounts that could potentially reduce rates by 40% or more if you meet specific criteria. Companies and a selection of discounts can be read below.
- GEICO has discounts for military active duty, driver training, five-year accident-free, anti-lock brakes, and defensive driver.
- MetLife discounts include good driver, good student, multi-policy, defensive driver, claim-free, accident-free
- State Farm offers discounts including good student, anti-theft, defensive driving training, driver’s education, accident-free, student away at school, and multiple autos.
- Progressive offers premium reductions for multi-vehicle, multi-policy, online signing, homeowner, online quote discount, good student, and continuous coverage.
- Mercury Insurance offers discounts for age of vehicle, multi-car, accident-free, good student, location of vehicle, multi-policy, and annual mileage.
- 21st Century may include discounts for air bags, automatic seat belts, student driver, early bird, theft prevention, 55 and older, and defensive driver.
- Allstate includes discounts for anti-theft, 55 and retired, auto/life discount, premier discount, eSmart discount, premier plus, and new car.
The example below compares insurance prices with and without discounts applied. The rate quotes are based on a female driver, three traffic citations and one accident, Oklahoma state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with multiple vehicle, multiple policy, continuous coverage, vehicle safety, passive restraint, and paperless filing discounts applied. When these discounts are applied to the policy premium, the average savings per year on insurance for drivers with a bad driving record is 28% or $1,408.
Price comparison of only insuring for liability
Lowering the price of insurance is the goal of most people, and one common way to pay less for insurance for drivers with a bad driving record is to not insure for full coverage. The diagram below visualizes the comparison of yearly insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Oklahoma. The information is based on no claims, a clean driving record, $1,000 deductibles, drivers are single, and no discounts are applied.
If the expense is averaged for all age categories, comp and collision coverage costs $2,504 per year over and above liability coverage. That proposes the question when is the right time to remove full coverage. There is no definitive rule to stop buying full coverage, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than 10% of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let’s say your vehicle’s settlement value is $7,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would get paid by your company is $6,500 after paying the physical damage deductible. If you are paying over $650 a year for your policy with full coverage, then it might be time to consider dropping full coverage.
There are a few situations where buying only liability insurance is not recommended. If you still owe money on your vehicle, you must maintain physical damage coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should keep full coverage in place.
The information below illustrates how your deductible choice can change insurance prices when quoting cheap insurance for drivers with a bad driving record. The prices are based on a single female driver, full coverage, and no other discounts are factored in.
The chart above illustrates that a 30-year-old driver could save $406 a year by switching from a $100 deductible to a $500 deductible, or save $616 by using a $1,000 deductible. Young drivers, like the Age 20 category, could shave as much as $902 or even more by using a higher deductible.
When choosing a higher deductible, it will now be necessary to have enough in a savings account to enable you to pay the extra out-of-pocket expense that is associated with using high deductibles.
Last year’s bargain might be this year’s rip off
Oklahoma City, OK insurance rates are impacted by many things which can substantially change the price of coverage. Simply improving your credit, getting divorced, or getting a ticket for careless driving can produce rate changes that can make some companies cheaper than competitors. Not only may things change on your end, but insurers change their prices as often as every quarter to adjust for heavy claims or excess profits. Heavier than normal losses may cause high rates, while a lower level of claims may produce cheaper Oklahoma City car insurance rates.
For example, the graph below analyzes the cheapest car insurance in Oklahoma City, OK for a 45-year-old male driver with a clean driving record, no accidents, and a good credit rating. When quoting prices based on his current situation, USAA may offer the cheapest car insurance rates in Oklahoma City at $1,347 annually. This is $620 less than the average premium paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, GEICO, and Farmers are the remainder of the top five cheapest Oklahoma City, OK auto insurance companies.
The example below compares rates after we give the driver from above an at-fault accident, a lower credit rating, and a speeding ticket. Since every car insurance company has a different process for establishing rates, comparing rates may now result in a different ranking of companies as shown below.
State Farm now has the best price in Oklahoma City with Oklahoma Farmers Union, The Hartford, Travelers, and Liberty Mutual now being in the top five. This illustrates why it is important to spend some time comparing rates to find the lowest auto insurance rates for drivers with a bad driving record. Auto insurance prices are impacted by many different factors and can decrease or increase without notice, so the best option the last time you shopped your coverage around may now be costing you a lot of money.
The agents shown below can help you decide which auto insurance policy would work best for you, as some drivers have questions and prefer to get some guidance when shopping around for cheaper insurance for drivers with a bad driving record. It can be hard to find the best policy on your own, so getting advice from a licensed Oklahoma insurance agent can give you satisfaction knowing your policy gives you sufficient coverage at claim time. To find an auto insurance agency using an interactive map, click the link after the list or click here to compare price quotes.
Jerry Black – State Farm Insurance Agent
12325 N May Ave #117 – Oklahoma City, OK 73120 – (405) 751-1860
One General Agency
817 NE 63rd St – Oklahoma City, OK 73105 – (405) 840-9393
Ken Whitt – State Farm Insurance Agent
4430 N W 50th M – Oklahoma City, OK 73112 – (405) 947-2812
Matt Pryor – State Farm Insurance Agent
2229 NW 138th St d – Oklahoma City, OK 73134 – (405) 749-8100
Charles Reagan – State Farm Insurance Agent
5001 N Pennsylvania Ave #305 – Oklahoma City, OK 73112 – (405) 840-3731