Cheap Rates for Toyota Prius Insurance in Oklahoma City

Unthinkable but true, almost 70% of insureds renewed their policy with the same company for at least four years, and nearly half have never compared auto insurance rates at all. With the average premium in Oklahoma being $1,800, drivers can cut their rates by about $600 a year just by comparing rates, but they don’t want to take the time to shop their coverage around.

Insurance for Toyota PriusIf saving money is your primary concern, then the best way to save money on auto insurance rates is to regularly compare prices from companies in Oklahoma City.

Step 1: Spend some time learning about how car insurance works and the factors you can control to prevent rate increases. Many factors that are responsible for high rates like at-fault accidents, speeding tickets, and a less-than-favorable credit rating can be rectified by making minor driving habit or lifestyle changes.

Step 2: Quote rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from a single company like Progressive and State Farm, while independent agencies can provide price quotes from multiple companies.

Step 3: Compare the quotes to the premium of your current policy and see if there is a cheaper rate in Oklahoma City. If you find a lower rate quote, make sure there is no lapse between the expiration of your current policy and the new one.

Step 4: Provide notification to your current agent or company of your decision to cancel your current policy. Submit the application along with any required down payment to your new insurance company. When you receive it, keep your new certificate verifying coverage in an easily accessible location in your vehicle.

The key thing to remember is that you use similar deductibles and liability limits on each price quote and to quote with as many auto insurance providers as possible. This ensures a level playing field and a better comparison of the market.

If you have a current auto insurance policy or need a new policy, use these techniques to shop for the lowest rates and possibly find even better coverage. Finding affordable coverage in Oklahoma City is much easier if you know where to start. Smart shoppers just have to know the best way to compare rate quotes online.

Compare Toyota Prius insurance rates

All the larger auto insurance companies make it easy to get prices on the web. Getting online quotes for Toyota Prius insurance in Oklahoma City is fairly straightforward as all you need to do is type in your required coverages as requested by the quote form. After the form is submitted, their rating system requests information on your driving record and credit history and returns a price determined by many factors. Getting online quotes for Toyota Prius insurance in Oklahoma City makes it simple to compare prices and it’s necessary to perform this step in order to find lower-cost prices.

To save time and fill out one form to compare multiple rates now, compare rate quotes from the providers shown below. If you have your current policy handy, we recommend you type in your coverages exactly as shown on your declarations page. This makes sure you are getting rate quotes for exact coverage.

The companies shown below are ready to provide free rate quotes in Oklahoma City, OK. If multiple companies are shown, it’s highly recommended you visit two to three different companies to find the lowest auto insurance rates.

Car insurance statistics for a Toyota Prius

The data table below highlights a range of insurance premium costs for Toyota Prius models. Being able to understand how insurance quotes are figured can be useful when making informed decisions.

Toyota Prius Insurance Rates in Oklahoma City, OK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $352 $580 $514 $30 $154 $1,630 $136
Get Your Own Custom Quote Go

Data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Premium costs do not factor in the specific area where the vehicle is garaged which can revise premium rates significantly.

Physical damage deductibles

One common question asked by Oklahoma City drivers is how high should the physical damage deductibles be. The comparisons below summarize the rate difference when you choose different coverage deductibles. The first price estimate table uses a $250 physical damage deductible and the second rate table uses a $500 deductible.

Toyota Prius insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $392 $584 $382 $22 $114 $1,519 $127
Get Your Own Custom Quote Go

Toyota Prius insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Prius $318 $472 $382 $22 $114 $1,308 $109
Get Your Own Custom Quote Go

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Oklahoma minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Rate information does not factor in garaging location in Oklahoma City which can lower or raise coverage rates significantly.

Using the data above, we can ascertain that using a $250 deductible costs approximately $18 more each month or $216 every year than requesting the higher $500 deductible. Because you would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you go at least 14 months between claims, you would come out ahead by selecting a higher deductible.

How to determine if raising deductibles makes sense

Average monthly premium for $250 deductibles: $127
Average monthly premium for $500 deductibles (subtract): – $109
Monthly savings from raising deductible: $18
Difference between deductibles ($500 – $250): $250
Divide difference by monthly savings: $250 / $18
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 14 months

One important caveat is that a higher deductible means you will have to pay more out-of-pocket when you have a comprehensive or collision claim. You should have enough extra money in the event you need to pay the deductible for vehicle repair.

Should you buy full coverage?

The example below shows the comparison of Toyota Prius insurance costs with full coverage compared to only the Oklahoma minimum liability coverage. The information is based on no violations or claims, $100 deductibles, marital status is single, and no policy discounts are applied.

When to stop buying physical damage coverage

There isn’t a written rule to stop buying comp and collision coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.

For example, let’s assume your Toyota Prius replacement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $5,000 after paying your deductible. If it’s costing in excess of $500 a year to have full coverage, then you might consider buying liability only.

There are a few situations where dropping physical damage coverage is not recommended. If you have an outstanding loan on your vehicle, you have to maintain full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is damaged, you should not remove full coverage.

Insurance Rate Influencing Factors

One of the most helpful ways to save on car insurance is to to have a grasp of the factors that are used to determine the level of your policy premiums. If you have a feel for what determines premiums, this enables informed choices that will entitle you to cheaper rates. Lots of things are considered when premium rates are determined. Some factors are common sense such as your driving record, although others are less apparent such as whether you are married or your commute time.

Shown below are a partial list of the pieces utilized by car insurance companies to help set your premiums.

Why do I need car insurance?

Despite the potentially high cost of Toyota Prius insurance, insurance is required in Oklahoma but it also protects you in many ways.

The benefits of insuring your car are definitely more than the cost, particularly when you have a large claim. But the average American driver overpays more than $700 annually so compare rates at least once a year to make sure the price is not too high.