The make and model of vehicle you are buying coverage for is a large factor when quoting affordable auto insurance for drivers under 21. Vehicles with reasonable performance levels, good crash test ratings, or a positive history of liability claims will cost significantly less to insure than high performance models.
The information below illustrates coverage prices for some of the most budget-friendly automobiles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $2,956 |
| Ford Escape XLT 2WD | $2,961 |
| Hyundai Elantra SE Touring Station Wagon | $3,223 |
| Ford F-150 STX Super Cab 2WD | $3,247 |
| Toyota Prius | $3,266 |
| Ford Explorer XLT 2WD | $3,293 |
| Ford Edge SE AWD | $3,469 |
| Honda Odyssey EX W/Rear Entertainment | $3,478 |
| Chevrolet Equinox LT 2WD | $3,514 |
| Chevrolet Impala LT | $3,519 |
| Chevrolet Malibu Hybrid | $3,514 |
| Toyota RAV4 4WD | $3,523 |
| Dodge Grand Caravan SXT | $3,558 |
| Toyota Tacoma Double Cab 4WD | $3,563 |
| Ford Focus SES 4-Dr Sedan | $3,688 |
| Toyota Corolla LE | $3,734 |
| Chevrolet Silverado LT Regular Cab | $3,767 |
| Kia Optima LX | $3,772 |
| Nissan Rogue SL 2WD | $3,767 |
| Jeep Grand Cherokee SRT-8 4WD | $3,777 |
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Data assumes single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, and safe-driver. Price estimates do not factor in specific location which can alter rates substantially.
Based upon the table data, makes and models like the Honda CR-V, Ford Escape, and Hyundai Elantra are a few of the more affordable vehicles to insure for minors. The price of auto insurance will tend to be higher just because there is more liability risk for drivers under 21, but in general those specific models will probably have the best rates compared to other types of vehicles.
Finding out which company quotes the most affordable car insurance rates for drivers under 21 will require more time in order to find the best price. Every insurance provider has their own formula to establish rates, so let’s take a look at the most budget-friendly car insurance companies in Tulsa, OK.
We do need to point out that Tulsa car insurance rates are based on many factors that can increase the policy price. Getting older, moving across town, or getting a DUI may cause policy rate changes that can make some companies cheaper in comparison to the competition.
Find the Cheapest Auto Insurance for Minors
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,161 |
| 2 | Oklahoma Farmers Union | $1,166 |
| 3 | The Hartford | $1,319 |
| 4 | GEICO | $1,381 |
| 5 | Safe Auto | $1,405 |
| 6 | Farmers | $1,436 |
| 7 | State Farm | $1,521 |
| 8 | Liberty Mutual | $1,797 |
| 9 | Travelers | $1,925 |
| 10 | Mercury | $1,993 |
| 11 | OK Farm Bureau | $2,079 |
| 12 | Shelter | $2,108 |
| 13 | Home State | $2,214 |
| 14 | MetLife | $2,235 |
| 15 | Progressive | $2,245 |
| 16 | Allstate | $2,472 |
| 17 | Safeco | $5,056 |
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USAA quotes some of the cheapest car insurance rates in Tulsa at around $1,161 each year. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto also qualify as some of the best Tulsa, OK auto insurance companies.
In the above rates, if you are a policyholder with GEICO and switched to USAA, you could realize yearly savings of about $220. Insureds with Safe Auto might save as much as $244 a year, and Farmers policyholders might lower prices by $275 a year.
These premiums are averaged for all types of insureds and vehicles and and are not calculated with a specific zip code for drivers under 21. So the car insurance company that has the cheapest rates for you may not even be in the top 17 companies shown above. That emphasizes why you need to compare as many prices as possible using your own driver data and vehicle information.
For minors, one of the largest components that determine the amount you pay each year for auto insurance is the neighborhood you call home in Tulsa. More densely populated places will most likely pay more, whereas areas with fewer weather claims and lower vehicle theft rates tend to receive slightly lower rates.
The illustration below lists the highest-priced places in Oklahoma for drivers under 21 to buy car insurance in. Tulsa is ranked #6 with an annual cost of $2,192 for coverage, which is approximately $183 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Bixby | $2,213 |
| 2 | Sand Springs | $2,205 |
| 3 | Midwest City | $2,205 |
| 4 | Bethany | $2,201 |
| 5 | Broken Arrow | $2,195 |
| 6 | Tulsa | $2,192 |
| 7 | Del City | $2,177 |
| 8 | Sapulpa | $2,165 |
| 9 | Owasso | $2,148 |
| 10 | Moore | $2,132 |
| 11 | Oklahoma City | $2,113 |
| 12 | Norman | $2,095 |
| 13 | Edmond | $2,063 |
| 14 | Yukon | $2,015 |
| 15 | Claremore | $2,008 |
| 16 | Bartlesville | $1,981 |
| 17 | Shawnee | $1,968 |
| 18 | Muskogee | $1,943 |
| 19 | Lawton | $1,941 |
| 20 | Stillwater | $1,931 |
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Premium costs are estimated as the vehicle garaging location can decrease or increase prices considerably.
Cost difference between full coverage and liability
Saving on car insurance is important to most people, and one good way to buy cheaper insurance for drivers under 21 is to only buy liability insurance. The chart below compares premium costs with liability coverage only compared to full coverage. The premiums are based on no claims or driving citations, $100 deductibles, single status, and no other discounts are factored in.
Averaged out for all age groups, full coverage costs an additional $2,564 per year more than buying just liability insurance. At some point, almost every driver questions if buying full coverage is a good investment. There is no written rule to delete comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
Rate increases following a ticket or accident
The obvious way to snag low car insurance premiums in Oklahoma for minors is to be a cautious driver and avoid tickets and accidents. The example below shows how violations and at-fault collisions impact premium costs for each age group. The data is based on a married female driver, full coverage, $250 deductibles, and no discounts are taken into consideration.
The data charted above shows the average cost of auto insurance in Oklahoma per year with no accidents or violations is $2,407. Get written up for one speeding ticket and the average cost swells to $2,807, an increase of $400 each year. Now throw in one accident along with the one speeding ticket and the annual cost of car insurance for drivers under 21 goes up to an average of $3,942. That’s an increase of $1,534, or $128 per month, just for not driving responsibly!
How to get discounts on Tulsa car insurance rates
Insurance companies that provide coverage for drivers under 21 could also offer rate discounts that may potentially lower prices by 40% or more if you are eligible to receive them. Companies and some of their more popular discounts are detailed below.
- Progressive offers discounts including online signing, continuous coverage, online quote discount, multi-policy, and multi-vehicle.
- SAFECO offers premium reductions for teen safety rewards, safe driver, bundle discounts, accident prevention training, anti-lock brakes, and drive less.
- American Family may include discounts for good driver, Steer into Savings, defensive driver, air bags, bundled insurance, and accident-free.
- MetLife may offer discounts for good driver, multi-policy, accident-free, claim-free, good student, defensive driver
- GEICO includes discounts for multi-policy, defensive driver, good student, membership and employees, and seat belt use.
- The Hartford has discounts for good student, driver training, air bag, vehicle fuel type, anti-theft, and defensive driver.
The illustration below shows the difference between insurance premiums with and without some available policy discounts. The rates are based on a male driver, no violations or accidents, Oklahoma state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with paid-in-full, paperless filing, passive restraint, continuous coverage, vehicle safety, and anti-theft discounts applied. When discounts are factored in, theamount saved on car insurance for drivers under 21 is 19% or $483.
Compare quotes and save
Oklahoma car insurance rates are calculated based on many things that control the policy price. Improving your credit score, moving across town, or getting a DUI may generate price changes that can cause some rates to be more affordable than the competition. In addition to those changes, companies change the rates they charge in Oklahoma as needed to adjust for unexpected claims or profits. Significantly higher losses can result in price increases, while a lower level of claims may produce more affordable Tulsa car insurance rates.
As an example, the graph below shows a variety of companies that have the cheapest car insurance in Tulsa, OK for a 30-year-old male driver with no violations or accidents, and a high credit rating. If we estimate prices based on his personal risk profile, USAA may have the cheapest car insurance rates in Tulsa at $1,427 annually. This is $540 less than the average rate paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto also make the list of the cheapest Tulsa, OK auto insurance companies.
Now we will give the driver in the first example some claims, a lower credit rating, and a few blemishes on his driving record. Due to the fact that every auto insurer has a unique approach to set their prices, comparing insurance quotes could now result in a different list of companies as shown below.
State Farm now has the best auto insurance rate in Tulsa, OK with Oklahoma Farmers Union, GEICO, Travelers, and Liberty Mutual completing the list. This example shows why it is so important to take the time to shop around when trying to find the lowest car insurance quotes for drivers under 21. Auto insurance prices are calculated by many factors and change frequently, so the best company the last time you shopped your coverage around may now be priced much higher than other options.