Who Has the Cheapest Auto Insurance for Drivers Over Age 50 in Oklahoma City?

The words “economical” and “insurance” really should not be used together, in particular when you are looking for the cheapest auto insurance for drivers over age 50. To help control this cost, let’s start the ball rolling by going over a few of the factors that have an effect on car insurance prices, and see how we can help you take a little off the next policy you buy.

Finding out which insurers offer the most affordable auto insurance rates for drivers over age 50 will involve a little more work in order to find the lowest price. Each auto insurer uses their own method for determining rates in each state, so we need to take a look at the auto insurance companies with the overall best prices in Oklahoma.

It’s important to know that Oklahoma City auto insurance rates are determined by lots of factors which can substantially decrease or increase the cost of having a policy. Improving your credit rating, getting married, or having an accident can trigger rate changes that can now make some companies more affordable than others.

Best Car Insurance Prices for Age 50+

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Oklahoma auto insurance company rankings
Rank Company Cost Per Year
1 Oklahoma Farmers Union $1,154
2 USAA $1,161
3 The Hartford $1,319
4 Safe Auto $1,377
5 GEICO $1,381
6 Farmers $1,436
7 State Farm $1,568
8 Liberty Mutual $1,852
9 Travelers $1,925
10 OK Farm Bureau $2,018
11 Mercury $2,033
12 Home State $2,128
13 Shelter $2,173
14 MetLife $2,235
15 Progressive $2,245
16 Allstate $2,472
17 Safeco $5,158
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Oklahoma Farmers Union normally has some of the best car insurance rates in Oklahoma City at around $1,154 a year. This is $813 less than the average premium paid by Oklahoma drivers of $1,967. USAA, The Hartford, Safe Auto, and GEICO would also make the list of some of the cheapest Oklahoma City, OK auto insurance companies.

As depicted above, if you are a customer of Safe Auto and switched to Oklahoma Farmers Union, you may see yearly savings of about $223. Insureds with GEICO may save as much as $227 a year, and Farmers customers might lower prices by $282 a year.

Understand that those prices are averaged across all insureds and vehicles and and are not calculated with a specific vehicle garaging location for drivers over age 50. So the auto insurance company that is most affordable for your situation may not even be in the list above. That underscores the importance of why you need to compare prices as often as possible using your own driver data and vehicle information.

For older drivers, one of the more important components that are used to help calculate insurance cost is the neighborhood you call home. Larger areas tend to pay slightly more, whereas areas with lower vehicle theft rates and fewer weather claims have the benefit of cheaper car insurance.

The table below rates the highest-priced areas in Oklahoma for drivers over age 50 to purchase a policy in. Oklahoma City ranks #5 having an annual price of $2,178 on average, which is around $182 per month.

How much does car insurance cost in Oklahoma City, OK?
Rank City Annual Premium
1 Del City $2,221
2 Tulsa $2,215
3 Bixby $2,213
4 Midwest City $2,184
5 Oklahoma City $2,178
6 Sand Springs $2,161
7 Sapulpa $2,144
8 Bethany $2,135
9 Broken Arrow $2,130
10 Norman $2,075
11 Moore $2,069
12 Owasso $2,064
13 Edmond $2,063
14 Claremore $2,048
15 Shawnee $2,028
16 Yukon $2,015
17 Bartlesville $1,981
18 Ponca City $1,976
19 Stillwater $1,970
20 Ardmore $1,936
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Information shown are comparative as specific Oklahoma City garaging address can change premiums considerably.

The diagram below demonstrates how deductible levels can change insurance rates when quoting cheap insurance for drivers over age 50. The price estimates are based on a single male driver, comp and collision included, and no policy discounts are applied.

As shown above, a 50-year-old driver could save $514 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $776 by using a $1,000 deductible. Even younger drivers, like the Age 20 chart data, could save as much as $1,702 each year by using higher deductibles when buying full coverage.

When insureds make the decision to increase the deductibles on their policy, it is essential to have emergency funds available to allow you to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

Difference between full coverage and liability only rates

Paying a lower price for auto insurance is important to the majority of people, and an effective way to pay less for insurance for drivers over age 50 is to only buy liability coverage. The example below visualizes the comparison of insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no violations or accidents, $500 deductibles, drivers are single, and no discounts are taken into consideration.

If we average all the age groups together, full coverage costs $2,108 per year over having just liability coverage. That raises the question if buying full coverage is worth the expense. There is no written rule to delete physical damage insurance, but there is a guideline you can use. If the yearly cost of full coverage is more than 10% of the settlement you would receive from your company, then it could be time to drop full coverage.

Oklahoma auto insurance companies ranked

Selecting a high-quality insurance provider can be a challenge considering how many companies sell coverage in Oklahoma. The ranking data in the next section may help you pick which auto insurance companies to look at to insure your vehicles.

The rankings below only include large nationwide companies, so companies that have a smaller presence will not be included in these rankings. To get rate quotes and find the cheapest rates for drivers over age 50, follow this link.

Best Auto Insurance Companies for Drivers Over Age 50 in Oklahoma
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
21st Century 86 82 90 84% A 86.4
Liberty Mutual 79 87 95 78% A 85.3
Farmers Insurance 77 80 80 84% A 80.3
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Data Source: Insure.com Best Car Insurance Companies