Scraping up a payment for pricey Chevrolet Volt insurance in Oklahoma City can diminish your savings account and maybe even restrict other spending.
It goes without saying that car insurance companies don’t want customers comparing rates. People who shop rates annually will, in all likelihood, buy a new policy because the odds are good of finding lower rate quotes. Remarkably, a study showed that drivers who compared rate quotes regularly saved $72 a month compared to people who never shopped around for better prices.
If finding the lowest price on auto insurance is the reason you’re reading this, then having some knowledge of the best ways to find and compare insurance rates can make the process more efficient.
Numerous car insurance companies battle to insure your vehicles, so it can be very hard to choose a provider to find the lowest cost out there.
It’s important to compare prices every six months because insurance prices tend to go up over time. Even if you got the lowest price on Chevy Volt insurance in Oklahoma City at your last renewal there is a good chance you can find better rates now. You can find a lot of information about Volt insurance online but by reading this article, you’re going to learn a bunch of ideas how to stop overpaying for insurance in Oklahoma City.
If you are insured now, you should be able to reduce the price you pay using the ideas presented in this article. Buying the cheapest car insurance in Oklahoma City is actually quite simple. But Oklahoma vehicle owners can benefit by having an understanding of how companies determine premium rates and use it to find better rates.
Just remember that quoting more provides better odds of finding more affordable rates. Not every company does online Oklahoma City Volt insurance quotes, so it’s recommended that you also compare rates from those companies as well.
The companies shown below provide price quotes in Oklahoma. If multiple companies are shown, we recommend you visit two to three different companies to get the most affordable price.
Three reasons to not skimp on auto insurance
Despite the high cost of buying insurance for a Chevy Volt in Oklahoma City, auto insurance is required in Oklahoma but also provides important benefits.
- Most states have mandatory insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance coverage in order to license the vehicle. 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 your Chevy Volt has a loan, more than likely the lender will stipulate that you have physical damage coverage to guarantee loan repayment. If you do not keep the policy in force, the bank may insure your Chevy at a much higher rate and require you to pay much more than you were paying before.
- Auto insurance protects not only your vehicle but also your assets. It will also provide coverage for all forms of medical expenses for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney in the event you are sued. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of buying auto insurance outweigh the cost, especially when you need to use it. An average driver in America is currently overpaying as much as $700 annually so compare rate quotes every year to ensure rates are inline.
Insurance Price Influencing Factors
Many things are part of the equation when you get your auto insurance bill. A few of the factors are predictable like a motor vehicle report, although others are more transparent like your continuous coverage or your commute time.
The itemized list below are a few of the “ingredients” companies use to determine rates.
- Drive less and pay lower prices – The higher the mileage driven in a year’s time the higher your rate. Most insurance companies calculate rates based on how the vehicle is used. Vehicles that are left in the garage can get a lower rate than those used for commuting. Make sure your auto insurance policy states the proper vehicle usage, because it can save money. An incorrectly rated Volt may be costing you.
- Too many auto insurance claims drive up prices – If you tend to file frequent claims, you shouldn’t be surprised to get much higher rates or policy non-renewal. Insurance companies in Oklahoma generally give cheaper rates to drivers who are not frequent claim filers. Auto insurance is intended for larger claims.
- How’s your driving record? – Your driving record can have a huge impact on auto insurance premiums. Having a single citation could increase your next policy renewal to the point where it’s not affordable. Careful drivers get better rates than bad drivers. Drivers who get multiple violations such as DUI or willful reckless driving may need to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to drive a vehicle legally.
- Do you know your physical damage deductibles? – Physical damage insurance, termed comprehensive and collision coverage on your policy, insures against damage to your Chevy. Examples of covered claims could be a dented fender, hitting a deer, and damage caused by flying debris. Physical damage deductibles tell how much you are willing to pay out-of-pocket if a covered claim is submitted. The more of the claim the insured has to pay upfront, the less money you will pay for auto insurance.
- Auto insurance rates and your vocation – Occupational choices like fire fighters, architects, and accountants usually pay higher premiums than the average policyholder due to intense work-related stress and incredibly demanding work hours. Conversely, jobs like farmers, historians and homemakers have the lowest average rates.
Chevy Volt insurance loss statistics – Companies study historical loss data to calculate a price that offsets possible losses. Vehicles that have increased losses will cost more to insure.
The next table illustrates the collected loss data for Chevy Volt vehicles. For each coverage type, the statistical loss for all vehicles, regardless of make or model, is set at 100. Values that are under 100 suggest a positive loss record, while values over 100 point to more frequent losses or an increased probability of a larger loss.
Insurance Loss Ratings for Chevrolet Volt Vehicles Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Volt Electric 89 83 81 71 73 90BETTERAVERAGEWORSE
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Lower rate quotes by applying discounts
Car insurance is neither fun to buy or cheap, but you might find some hidden discounts that could help you make your next renewal payment. Some discounts will apply at the time of quoting, but a few must be requested specifically before you get the savings. If you’re not getting every credit you deserve, you are paying more than you should be.
- Claim-Free Discount – Oklahoma City drivers who stay claim-free are rewarded with significantly better rates on Oklahoma City car insurance quote in comparison to policyholders that have many claims.
- Passive Restraints and Air Bags – Cars that have air bags or automatic seat belts can receive discounts of more than 20%.
- Driver’s Education for Students – Cut your cost by having your teen driver participate in a local driver’s education class if it’s offered in school.
- Senior Citizen Rates – Mature drivers are able to get a slight reduction on a Oklahoma City car insurance quote.
- Theft Deterrent – Cars and trucks equipped with tracking devices and advanced anti-theft systems are less likely to be stolen and earn discounts up to 10% off your Oklahoma City car insurance quote.
- Life Insurance – Some car insurance companies give a discount if you purchase life insurance.
- Early Renewal Discounts – A few larger companies give discounts for signing up before your current expiration date. This can save 10% or more.
- Military Discounts – Having an actively deployed family member may qualify for rate reductions.
- Responsible Drivers – Safe drivers may save up to 50% more as compared to drivers with claims.
Drivers should understand that most discount credits are not given to your bottom line cost. Most only reduce the cost of specific coverages such as comprehensive or collision. So despite the fact that it appears having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.
A few of the larger companies and a selection of discounts are outlined below.
- GEICO may include discounts for federal employee, emergency military deployment, daytime running lights, five-year accident-free, anti-lock brakes, and multi-vehicle.
- SAFECO offers discounts for teen safe driver, accident prevention training, homeowner, anti-theft, teen safety rewards, anti-lock brakes, and drive less.
- State Farm offers premium reductions for anti-theft, multiple policy, safe vehicle, Steer Clear safe driver discount, multiple autos, passive restraint, and defensive driving training.
- MetLife discounts include good student, claim-free, multi-policy, accident-free, defensive driver, and good driver.
- 21st Century offers discounts including early bird, student driver, defensive driver, air bags, good student, anti-lock brakes, and 55 and older.
- Progressive has savings for continuous coverage, online quote discount, multi-vehicle, homeowner, multi-policy, online signing, and good student.
Before buying, ask all companies you are considering which credits you are entitled to. Depending on the company, some discounts may not apply to policies everywhere. If you would like to view insurance companies with discount car insurance rates in Oklahoma City, click here.
Can’t I compare rates from local Oklahoma City insurance agencies?
Many people would prefer to talk to a local agent and that can be a smart move The best thing about price shopping on the web is that you can obtain cheap car insurance rates and also buy local.
For easy comparison, once you complete this quick form, your coverage information gets sent to local insurance agents that can provide free Oklahoma City car insurance quotes for your business. You won’t even need to find an agent on your own because prices are sent to you. You can find the lowest rates without the usual hassles of price shopping. In the event you want to get a rate quote from a specific insurance company, just go to their quote page and fill out their quote form.
Finding a good insurer requires you to look at more than just the price. Any agent in Oklahoma City should be forthright in answering these questions:
- Will the agent help in case of a claim?
- Do they regularly work with personal auto policies in Oklahoma City?
- How experienced are they in personal risk management?
- If independent agents, which companies do they recommend?
- Are they full-time agents?
Oklahoma City car insurance agents are either independent or exclusive
If you are searching for a reliable insurance agent, you should know the different agency structures from which to choose. Insurance agencies in Oklahoma City are categorized either exclusive or independent agents depending on their company appointments.
These agents write business for a single company and examples are Farmers Insurance, State Farm, or Allstate. Exclusive agents cannot compare other company’s rates so keep that in mind. Exclusive agents are well schooled on their company’s products and that can be a competitive advantage.
Shown below are Oklahoma City exclusive insurance agents that are able to give price quote information.
Charles Reagan – State Farm Insurance Agent
5001 N Pennsylvania Ave #305 – Oklahoma City, OK 73112 – (405) 840-3731 – View Map
Independent Agencies or Brokers
Independent insurance agents are not employed by any specific company and that allows them to write policies through many companies and help determine which has the cheapest rates. If your agent finds better pricing, they simply move your policy to a different company and you can keep the same agent.
When comparing rate quotes, we recommend you compare quotes from a few independent agents to ensure the widest selection of prices.
Shown below is a short list of independent agents in Oklahoma City that are able to give price quotes.
Once you have received positive feedback for all questions you ask as well as an affordable premium quote, it’s possible that you found an insurance agent that meets the requirements to service your policy.
Compare but don’t skimp
As you go through the steps to switch your coverage, it’s very important that you do not buy poor coverage just to save money. In too many instances, drivers have reduced full coverage only to discover later that it was a big mistake. Your strategy should be to buy enough coverage at the lowest possible cost but still have enough coverage for asset protection.
We’ve covered some good ideas how you can save on Chevy Volt insurance in Oklahoma City. It’s most important to understand that the more companies you get prices for, the more likely it is that you will get a better rate. Drivers may even discover the biggest savings come from some of the smallest insurance companies. They may often insure only within specific states and give better rates than the large multi-state companies such as Allstate or State Farm.
Affordable Chevy Volt insurance in Oklahoma City is definitely available from both online companies and also from your neighborhood Oklahoma City agents, so you should be comparing quotes from both to get a complete price analysis. There are still a few companies who don’t offer online price quotes and these regional insurance providers only sell through independent agents.
How to find affordable Chevy Volt insurance in Oklahoma City
If saving the most money is your goal, then the best way to find cheaper quotes for Chevy Volt insurance in Oklahoma City is to start comparing prices regularly from providers in Oklahoma.
- First, it will benefit you to learn about the coverage provided by your policy and the measures you can control to prevent rate increases. Many policy risk factors that cause rate increases like speeding tickets, careless driving and a negative credit history can be improved by making minor changes to your lifestyle.
- Second, get rate quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only quote rates from a single company like Progressive or Allstate, while agents who are independent can give you price quotes from multiple sources. View companies
- Third, compare the new rate quotes to the premium of your current policy and see if you can save money. If you find a lower rate quote and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
The key thing to know about shopping around is to make sure you’re comparing similar deductibles and liability limits on every price quote and and to look at as many car insurance companies as possible. Doing this enables a fair price comparison and the best price selection.
For more information, feel free to visit the following helpful articles:
- Prepare your Teens for Safe Driving (InsureUonline.org)
- Who Has Cheap Oklahoma City Auto Insurance for Government Employees? (FAQ)
- Who Has Cheap Auto Insurance for Drivers Under 21 in Oklahoma City? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Unemployed Drivers in Oklahoma City? (FAQ)
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)
- What is Covered by GAP Insurance? (Allstate)
- Steps to Take After an Auto Accident (Insurance Information Institute)