Finding dependable, cheap auto insurance is not easy, and figuring out which companies have the cheapest insurance rates for drivers over age 70 will require a little more work. Each insurer has their own guidelines to establish rates, so let’s take a look at the most affordable insurance companies in Tulsa, OK.
It’s important to know that Tulsa insurance rates are determined by lots of factors which can substantially decrease or increase the price of coverage. Improving your credit rating, getting married, or getting a reckless driving citation may cause policy rate changes that may make certain companies cheaper than before.
Best Insurance Companies for Age 70+
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,150 |
| 2 | Oklahoma Farmers Union | $1,190 |
| 3 | The Hartford | $1,319 |
| 4 | Safe Auto | $1,377 |
| 5 | Farmers | $1,394 |
| 6 | GEICO | $1,394 |
| 7 | State Farm | $1,521 |
| 8 | Liberty Mutual | $1,852 |
| 9 | Travelers | $1,906 |
| 10 | OK Farm Bureau | $1,997 |
| 11 | Mercury | $2,053 |
| 12 | Shelter | $2,108 |
| 13 | MetLife | $2,147 |
| 14 | Home State | $2,149 |
| 15 | Progressive | $2,245 |
| 16 | Allstate | $2,472 |
| 17 | Safeco | $5,056 |
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USAA quotes some of the lowest car insurance rates in Tulsa at around $1,150 annually. This is $817 less than the average premium paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, Safe Auto, and Farmers would also be considered some of the cheapest Tulsa, OK auto insurance companies.
In the rate table above, if you currently have coverage with The Hartford and switched to USAA, you could see an annual premium reduction of about $169. Customers with Safe Auto could save as much as $227 a year, and Farmers policyholders might cut rates by $244 a year.
To see if your current coverage is too expensive, click here to start your free quote or quote rates from the companies below.
These policy prices are averaged for all insureds and vehicles and and are not calculated with an exact zip code location for drivers over age 70. So the company that has the lowest price for you may not even be in the top 17 companies shown above. That point stresses why you need to quote rates from as many companies as possible using your own individual information.
One of the many criteria that are looked at to help calculate the annual cost of car insurance is where you keep your car in Tulsa. Areas with more people or even just a higher incidence of claims tend to have higher rates, whereas areas with less people or fewer weather incidents tend to receive slightly lower rates.
The information below shows the most expensive areas in Oklahoma for drivers over age 70 to buy auto insurance in. Tulsa shows up at #1 with a yearly cost of $2,215 for the average insurance policy, which is about $185 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Tulsa | $2,215 |
| 2 | Bixby | $2,213 |
| 3 | Midwest City | $2,184 |
| 4 | Sapulpa | $2,165 |
| 5 | Del City | $2,155 |
| 6 | Broken Arrow | $2,151 |
| 7 | Owasso | $2,148 |
| 8 | Sand Springs | $2,139 |
| 9 | Bethany | $2,135 |
| 10 | Oklahoma City | $2,134 |
| 11 | Edmond | $2,126 |
| 12 | Moore | $2,090 |
| 13 | Norman | $2,075 |
| 14 | Yukon | $1,994 |
| 15 | Claremore | $1,987 |
| 16 | Ponca City | $1,976 |
| 17 | Shawnee | $1,968 |
| 18 | Ardmore | $1,955 |
| 19 | Enid | $1,942 |
| 20 | Lawton | $1,941 |
| 21 | Bartlesville | $1,941 |
| 22 | Stillwater | $1,931 |
| 23 | Duncan | $1,923 |
| 24 | Muskogee | $1,905 |
| 25 | Altus | $1,838 |
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Information shown are approximated as the specific garaging location can alter premiums significantly.
Do you need full coverage?
Reducing the cost of insurance should be important to most people, and one of the best ways to buy cheap insurance for drivers over age 70 is to buy liability only. The chart below shows the comparison of auto insurance costs with full coverage compared to only the Oklahoma minimum liability coverage. The data assumes no claims or driving citations, $1,000 deductibles, single marital status, and no discounts are applied to the premium.
If we average the cost for ages 20 through 70, physical damage coverage on your policy costs an extra $1,878 per year more than carrying just liability coverage. Many drivers will wonder if buying full coverage is worth the expense. There is no exact formula to drop full coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is about 10% or more of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
Safe drivers pay cheaper rates
The common sense way to earn the most affordable insurance prices for older drivers is to be a good driver and avoid accidents and traffic violations. The chart below illustrates how traffic citations and accidents can influence annual premium costs for different age groups. The information is based on a married female driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.
In the previous chart, the average cost of auto insurance per year with a clean driving record and no accidents is $2,003. Add in two speeding tickets and the average cost surges to $2,856, an increase of $853 each year. Now add one accident along with the two speeding tickets and the yearly cost of insurance for drivers over age 70 goes up to an average of $3,708. That’s an increase of $1,705, or $142 per month, just for not being a responsible driver!
Here’s why price comparisons are so important
Tulsa insurance rates are calculated based on many things which can substantially change the price of your policy. Improving your credit rating, increasing deductibles, or getting a reckless driving citation can trigger rate changes that can cause some rates to be more affordable than the competition. Also, auto insurance companies file new rates at least once a year in order to protect their financial rating. Heavier than normal losses may cause higher priced premiums, while a better loss history can produce cheaper Tulsa car insurance rates.
The graph below shows the company with the cheapest car insurance in Tulsa, OK for a 45-year-old male driver with no prior accidents, a clean driving record, and a decent credit rating. If we estimate rates based on his current risk profile, USAA may offer the lowest car insurance rates in Tulsa at $1,420 a year. This is $547 less than the average price paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto are the remainder of the most affordable Tulsa, OK auto insurance companies.
Now let’s give the driver from the first rate comparison a claim surcharge, a little lower credit rating, and a speeding citation. Since each auto insurer has a proprietary method to set premium rates, comparing quotes may now show a different set of cheap Tulsa auto insurance companies as shown below.
State Farm now has the best price on car insurance in Tulsa with Oklahoma Farmers Union, GEICO, Travelers, and Liberty Mutual completing the list. This example proves why it is so important to take the time to shop around when trying to get the lowest car insurance quotes for drivers over age 70. Auto insurance prices can be altered by many things and change frequently, so the most affordable company a year ago may now be one of the more expensive options.