Deciphering which company offers the most affordable auto insurance rates for good students takes a bit more work in order to find coverage that fits your budget. Each auto insurer has their own guidelines to determine premium rates, so let’s look at the rankings for the overall cheapest auto insurance companies in Tulsa.
It’s important to know that Oklahoma auto insurance rates are impacted by many things which can substantially decrease or increase the price you pay. Simply improving your credit, buying a different home, or getting a couple of tickets may prompt premium changes that may make certain companies more affordable than before.
Cheap Insurance Rates for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,161 |
| 2 | Oklahoma Farmers Union | $1,190 |
| 3 | The Hartford | $1,373 |
| 4 | GEICO | $1,381 |
| 5 | Safe Auto | $1,405 |
| 6 | Farmers | $1,422 |
| 7 | State Farm | $1,521 |
| 8 | Liberty Mutual | $1,797 |
| 9 | Travelers | $1,906 |
| 10 | OK Farm Bureau | $2,018 |
| 11 | Mercury | $2,033 |
| 12 | Home State | $2,128 |
| 13 | Shelter | $2,173 |
| 14 | Progressive | $2,223 |
| 15 | MetLife | $2,235 |
| 16 | Allstate | $2,400 |
| 17 | Safeco | $5,209 |
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USAA may offer some of the most affordable car insurance rates in Tulsa at around $1,161 annually. This is $806 less than the average price paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto also are some of the more affordable Tulsa, OK auto insurance companies.
In this example, if you currently have coverage with GEICO and switched to USAA, you could realize an annual savings of roughly $220. Policyholders with Safe Auto might save as much as $244 a year, and Farmers customers might lower prices by $261 a year.
If you want to find out if you’re overpaying, click here to start your custom quote or quote prices from the following companies.
Understand that those premiums are averaged for all types of insureds and vehicles and are not factoring in an exact vehicle garaging location for good students. So the company that can offer the best rates for your situation may not even be in the top 17 companies in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own personal information and vehicle type.
For student drivers, one of the big things that help determine the price you pay for insurance is where you normally keep your vehicle. Regions with larger populations or more claims tend to have higher rates, whereas more rural areas profit from lower rates.
The information below lists the most expensive cities in Oklahoma for good students in which to buy car insurance. Tulsa makes the list at #2 with an annual cost of $2,215 on average, which is about $185 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Del City | $2,243 |
| 2 | Tulsa | $2,215 |
| 3 | Bixby | $2,213 |
| 4 | Midwest City | $2,205 |
| 5 | Bethany | $2,201 |
| 6 | Sand Springs | $2,161 |
| 7 | Owasso | $2,148 |
| 8 | Broken Arrow | $2,130 |
| 9 | Oklahoma City | $2,113 |
| 10 | Sapulpa | $2,081 |
| 11 | Yukon | $2,076 |
| 12 | Moore | $2,069 |
| 13 | Claremore | $2,048 |
| 14 | Edmond | $2,042 |
| 15 | Norman | $2,033 |
| 16 | Ponca City | $1,976 |
| 17 | Shawnee | $1,968 |
| 18 | Enid | $1,942 |
| 19 | Stillwater | $1,931 |
| 20 | Duncan | $1,923 |
| 21 | Bartlesville | $1,922 |
| 22 | Ardmore | $1,898 |
| 23 | Altus | $1,894 |
| 24 | Muskogee | $1,886 |
| 25 | Lawton | $1,865 |
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Rate quotes are estimated as the garaging address in Tulsa can revise premium rates significantly.
Liability-only versus full coverage
Saving money on auto insurance is the goal of the majority of drivers, and one of the fastest ways to find cheaper insurance for good students is to not buy full coverage. The example below illustrates the comparison of car insurance rates with liability coverage only compared to full coverage. The data is based on no violations or claims, $100 deductibles, single status, and no discounts are applied.
If we average the cost for all age groups, physical damage coverage on your policy costs $2,856 per year more than just buying liability insurance. A very common question is when is the right time to remove full coverage. There is no definitive guideline to eliminate full coverage, but there is a broad guideline. If the annual cost of having full coverage is more than about 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
The diagram below highlights how deductible choice can raise or lower yearly insurance costs when searching for cheap insurance for good students. The premium estimates are based on a married female driver, full physical damage coverage, and no discounts are applied.
As shown above, a 50-year-old driver could pocket $414 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $622 by using a $1,000 deductible. Young drivers, like the Age 20 chart data, could potentially save as much as $1,024 or even more by choosing a larger deductible amount.
When insureds make the decision to increase the deductibles on their policy, it will now be necessary to have enough spare savings to offset the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
How violations and accidents impact rates
In a perfect world, the ideal way to enjoy the cheapest auto insurance prices in Tulsa for student drivers is to drive safe and have a clean driving record. The illustration below illustrates how traffic citations and accident claims can increase premium costs for different age categories. The price estimates are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no discounts are taken into consideration.
In the chart above, the average cost of auto insurance in Oklahoma per year with no accidents or violations is $2,504. Get written up for two speeding tickets and the average cost hikes up to $3,300, an increase of $796 each year. Now add in two accidents along with the two speeding tickets and the yearly cost of auto insurance for good students jumps again to an average of $6,650. That’s an increase of $4,146, or $346 per month, just for a couple of infractions!