Really, the only way to get discount Mini Cooper insurance in Oklahoma City is to annually compare prices from providers who provide auto insurance in Oklahoma. You can compare rates by following these guidelines.
First, take a little time to learn about what coverages are included in your policy and the things you can control to prevent expensive coverage. Many factors that cause rate increases like at-fault accidents, careless driving, and poor credit history can be amended by being financially responsible and driving safely. Later in this article we will cover more information to help keep rates affordable and find missing discounts.
Second, quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like GEICO or Allstate, while independent agencies can provide rate quotes from many different companies.
Third, compare the new rates to your existing rates and determine if cheaper Cooper coverage is available in Oklahoma City. If you can save some money and change companies, make sure coverage is continuous and does not lapse.
An important note is to make sure you enter similar limits and deductibles on every quote and and to get prices from as many car insurance companies as possible. Doing this ensures a fair price comparison and a better comparison of the market.
Sadly, most car insurance policyholders have been with the same company for at least four years, and nearly half have never compared rate quotes at all. The average driver in Oklahoma City could save themselves $600 a year, but they just feel it’s too hard to go online and compare rates.
Mini Cooper insurance statistics and information
The premium table below covers different insurance coverage prices for Mini Cooper models. Understanding how auto insurance prices are established can help drivers make smart choices when selecting a coverage provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Cooper 2-Dr Hatchback||$266||$484||$358||$22||$108||$1,238||$103|
|Cooper 2-Dr Convertible||$266||$484||$278||$16||$84||$1,128||$94|
|Cooper S 2-Dr Hatchback||$266||$572||$358||$22||$108||$1,326||$111|
|Cooper S 2-Dr Convertible||$302||$572||$278||$16||$84||$1,252||$104|
|Cooper John Cooper Works 2-Dr Hatchback||$302||$572||$358||$22||$108||$1,362||$114|
|Cooper John Cooper Works 2-Dr Convertible||$336||$658||$278||$16||$84||$1,372||$114|
|Get Your Own Custom Quote Go|
Data rating is based on married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Oklahoma minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Price information does not factor in the specific area where the vehicle is garaged which can alter premium rates significantly.
The example below highlights how deductible selection and can impact Mini Cooper insurance costs for different categories of driver ages. Data assumes a single female driver, full coverage, and no discounts are factored in.
Does full coverage make sense?
The information below compares Mini Cooper auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data is based on a clean driving record, no at-fault accidents, $250 deductibles, single marital status, and no discounts are taken into consideration.
Should you be buying full coverage?
There is no written rule that works best for making the decision to drop physical damage coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is more than about 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let’s pretend your Mini Cooper book value is $7,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $6,000 after paying your policy deductible. If you are paying more than $600 a year to have full coverage, then you may need to consider dropping full coverage.
There are some cases where dropping full coverage is not in your best interest. If you still have a lienholder on your title, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
Why Informed Drivers Pay Less for Mini Cooper Insurance
An important part of buying insurance is that you know some of the things that help determine the price you pay for insurance. If you have a feel for what determines premiums, this helps enable you to make changes that can earn you cheaper rates.
Higher comp and collision deductibles are cheaper – Insurance for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your Mini. Examples of covered claims could be colliding with a building, flood damage, and having your car stolen. The deductibles are how much you are willing to pay if a claim is determined to be covered. The more of the claim the insured has to pay upfront, the less money you will pay for insurance.
Poor credit decisions can cost you – Your credit history is likely to be a major factor in determining what you pay for insurance. Therefore, if your credit is lower than you’d like, you could be paying less to insure your Mini Cooper if you improve your credit rating. Drivers with high credit scores tend to be less risk to insure than drivers who have lower ratings.
Big cities mean more claims – Having an address in a small town can save you money when insuring your vehicles. Drivers in populated areas have more aggressive driving styles and much longer commute distances. Fewer drivers on the road translates into fewer accident claims and lower theft and vandalism rates.
Men pay higher rates – Statistics show women are more cautious behind the wheel. However, this does not mean females are better at driving than males. Men and women are in at-fault accidents at a similar rate, but the males have accidents that have higher claims. Men also tend to receive more costly citations such as driving while intoxicated (DWI) or driving recklessly.
The example below illustrates the difference between Mini Cooper insurance prices for male and female drivers. The prices are based on a clean driving record, no claims, full physical damage coverage, $1,000 deductibles, drivers are not married, and no discounts are factored in.
Accidents drive up prices – Your driving citation history has a lot to do with how much you pay for insurance. Only having one moving violation can bump up the cost to the point where it’s not affordable. Attentive drivers have lower premiums compared to bad drivers. Drivers who have received severe violations such as DWI, reckless driving or hit and run convictions may find they need to submit a SR-22 form with their state motor vehicle department in order to keep their license.
The information below highlights how traffic violations and at-fault fender-benders can raise Mini Cooper annual premium costs for different age groups of insureds. The premium estimates are based on a married male driver, full physical damage coverage, $500 deductibles, and no other discounts are factored in.
Mini Cooper claim probability – Auto insurance companies use past insurance losses in order to profitably underwrite each model. Vehicles that the statistics show to have increased claim numbers or amounts will have higher rates for specific coverages. The table below demonstrates the actual insurance loss data for Mini Cooper vehicles.
For each insurance policy coverage type, the loss probability for all vehicles, regardless of make, model or trim level, is set at 100. Values under 100 represent a good loss history, while numbers above 100 indicate frequent claims or a tendency for losses to be larger than average.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Mini Cooper Convertible||80||72||100||57|
|Mini Cooper Coupe||72||60|
|Mini Cooper Roadster Convertible||57||50||78|
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Persistence will pay off
We just presented a lot of techniques to save on Mini Cooper insurance in Oklahoma City. The key concept to understand is the more quotes you get, the better chance you’ll have of finding affordable Mini Cooper insurance quotes. Consumers may even find the best premium rates are with the smaller companies. Some small companies may cover specific market segments cheaper than the large multi-state companies such as Allstate and Progressive.
As you quote Oklahoma City auto insurance, do not skimp on critical coverages to save a buck or two. In too many instances, someone dropped liability coverage limits and found out when filing a claim that it was a big mistake. The goal is to purchase a proper amount of coverage at a price you can afford, but do not sacrifice coverage to save money.
More information can be read at the links below
- What is Gap Insurance? (Insurance Information Institute)
- Who Has Cheap Oklahoma City Auto Insurance for Government Employees? (FAQ)
- Who Has Affordable Auto Insurance Rates for a 20 Year Old Male in Oklahoma City? (FAQ)
- What Insurance is Cheapest for Good Drivers in Oklahoma City? (FAQ)
- What to do at the Scene of an Accident (Insurance Information Institute)
- Alcohol Impaired Driving FAQ (iihs.org)