Deciding which companies have the cheapest car insurance rates for 16 year olds will involve a bit more effort in order to find a policy that fits your budget. Each insurance company uses a slightly different approach to set policy rates, so let’s take a look at the most affordable car insurance companies in Oklahoma.
Cheap Insurance Rates for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Oklahoma Farmers Union | $1,154 |
| 2 | USAA | $1,185 |
| 3 | GEICO | $1,353 |
| 4 | The Hartford | $1,373 |
| 5 | Safe Auto | $1,419 |
| 6 | Farmers | $1,422 |
| 7 | State Farm | $1,583 |
| 8 | Liberty Mutual | $1,852 |
| 9 | Travelers | $1,906 |
| 10 | OK Farm Bureau | $2,018 |
| 11 | Mercury | $2,033 |
| 12 | MetLife | $2,147 |
| 13 | Home State | $2,149 |
| 14 | Shelter | $2,194 |
| 15 | Progressive | $2,245 |
| 16 | Allstate | $2,472 |
| 17 | Safeco | $5,209 |
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Oklahoma Farmers Union offers some of the best car insurance rates in Tulsa at around $1,154 per year. This is $813 less than the average premium paid by Oklahoma drivers of $1,967. USAA, GEICO, The Hartford, and Safe Auto also make the cut as some of the cheapest Tulsa, OK auto insurance companies.
As the example above demonstrates, if you are a policyholder with Safe Auto and switched to USAA, you could realize a yearly price reduction of approximately $234. Policyholders with Farmers might save as much as $237 a year, and State Farm customers might see rate reductions of $398 a year.
Bear in mind that those premium estimates are averages for all ages of drivers and types of vehicles and and are not figured with a specific location for 16 year olds. So the auto insurance company that fits your age and vehicle best may not even be in the list above. That underscores the importance of why you need to get rate quotes using your own driver data and vehicle information.
For new drivers, one of the big things that are used to help calculate the annual cost of car insurance is where you keep your car in Tulsa. Regions with more people or even just more weather-related claims are more likely to pay higher prices, whereas areas with less congestion benefit from having to pay less for coverage.
The illustration below lists the priciest cities in Oklahoma for 16 year olds to purchase a policy in. Tulsa is ranked #1 with an annual cost of $2,282 for the average policyholder, which is about $190 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Tulsa | $2,282 |
| 2 | Sand Springs | $2,205 |
| 3 | Midwest City | $2,205 |
| 4 | Bethany | $2,201 |
| 5 | Broken Arrow | $2,195 |
| 6 | Oklahoma City | $2,178 |
| 7 | Bixby | $2,169 |
| 8 | Del City | $2,155 |
| 9 | Sapulpa | $2,144 |
| 10 | Moore | $2,132 |
| 11 | Edmond | $2,105 |
| 12 | Norman | $2,095 |
| 13 | Owasso | $2,085 |
| 14 | Yukon | $2,076 |
| 15 | Shawnee | $2,028 |
| 16 | Claremore | $2,008 |
| 17 | Bartlesville | $2,000 |
| 18 | Stillwater | $1,989 |
| 19 | Muskogee | $1,962 |
| 20 | Enid | $1,961 |
| 21 | Lawton | $1,941 |
| 22 | Ardmore | $1,936 |
| 23 | Ponca City | $1,898 |
| 24 | Altus | $1,894 |
| 25 | Duncan | $1,866 |
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Rates are estimated as the specific geographic location can influence insurance rates noticeably.
Ending up with a good quality auto insurance company can be a challenge considering how many different companies there are to choose from in Oklahoma. The information in the next section may help you analyze which car insurance companies to look at when shopping insurance around for 16 year olds.
The ratings below are only comprised of companies that insure vehicles across America, so smaller regional companies are not factored into this list. To check prices and find cheaper insurance for 16 year olds, just click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Liberty Mutual | 79 | 87 | 95 | 78% | A | 85.3 |
| Farmers Insurance | 77 | 80 | 80 | 84% | A | 80.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Should you buy full coverage?
Paying a lower price for car insurance is the goal of the majority of vehicle owners, and a great way to find cheaper insurance for 16 year olds is to buy liability only. The illustration below shows the comparison of annual premium costs with and without physical damage coverage. Data assumes no claims or violations, $250 deductibles, single status, and no discounts are applied to the premium.
On average, full coverage on your policy costs an extra $2,349 per year over liability only. Many drivers will wonder if paying for full coverage is a waste of money. There is no definitive formula for phasing out comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your vehicle’s replacement cost is $6,500 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $5,500 after you pay the deductible. If it’s costing you more than $550 a year for full coverage, then you might want to consider buying only liability coverage.
How to find the cheapest car insurance for 16 year olds
The list below shows some penny-pinching ideas that can help drivers buy more affordable auto insurance.
- Prevent price hikes by avoiding at-fault accidents
- Good credit can help you save money
- Do not get traffic tickets
- Pay for small claims rather than turning them in to your insurance company
- Lower rates by purchasing a safer vehicle
- Keep rates low by shopping around frequently
The last tip is highly significant, as we pointed out in the prior information. Prices charged by auto insurers can change significantly in a year, so drivers shouldn’t be reluctant to buy a policy from a new company if a more affordable rate is found.
Many consumers stick with the same company and that’s fine, but we do not recommend it if it’s costing you a small fortune. It only takes a couple minutes to compare prices and find cheaper insurance for 16 year olds in Tulsa.
The Tulsa car insurance agencies listed below are a good start to aid you in deciding which coverage meets your needs best, since many consumers aren’t sure which coverage to buy and prefer to have some advice when shopping for cheaper insurance for new drivers. It can be complicated to find the cheapest auto insurance company, and getting advice from a licensed Oklahoma insurance agent can give comfort knowing you have adequate asset protection. To find an auto insurance agency using an interactive map, click the button below the list.
- Allstate Insurance: Jim Boese
10396 E 21st St – Tulsa, OK 74129 – (918) 665-2424 - Glass Insurance Agency, Inc
4500 S Garnett Rd #914 – Tulsa, OK 74146 – (918) 663-5314 - Beverly Young – State Farm Insurance Agent
7112 S Mingo Rd #102b – Tulsa, OK 74133 – (918) 250-1550 - Allstate Insurance: Todd Williams
3315 S Yale Ave Ste 200 – Tulsa, OK 74135 – (918) 742-2784