The words “low-cost” and “insurance” really don’t belong together, in particular when searching for the best car insurance for young drivers. Because it’s not cheap, let’s lead off by showing you some situations that help determine car insurance rates, and come up with some ideas to take the sting out of your next policy.
Determining which insurers offer the lowest-priced car insurance rates for young drivers will require a tad more effort in order to find coverage that fits your budget.
Every car insurance company has a proprietary method to set policy rates, so we need to take a look at the most affordable car insurance companies in Oklahoma. It’s a good idea to know that Tulsa car insurance rates are based on many factors that will increase or decrease the price you have to pay. Simply having another birthday, buying a different home, or getting a ticket for careless driving can produce rate changes that may make certain companies cheaper than others.
Lowest Insurance Price Quotes for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,161 |
| 2 | Oklahoma Farmers Union | $1,166 |
| 3 | The Hartford | $1,333 |
| 4 | GEICO | $1,381 |
| 5 | Farmers | $1,394 |
| 6 | Safe Auto | $1,419 |
| 7 | State Farm | $1,536 |
| 8 | Liberty Mutual | $1,797 |
| 9 | Travelers | $1,849 |
| 10 | Mercury | $2,053 |
| 11 | OK Farm Bureau | $2,058 |
| 12 | Home State | $2,128 |
| 13 | Shelter | $2,173 |
| 14 | MetLife | $2,213 |
| 15 | Progressive | $2,223 |
| 16 | Allstate | $2,448 |
| 17 | Safeco | $5,209 |
| Find Your Rate Go | ||
USAA generally has some of the lowest car insurance rates in Tulsa at around $1,161 a year. This is $806 less than the average premium paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, GEICO, and Farmers would also make the list of some of the more affordable Tulsa, OK car insurance companies.
In the above rates, if you currently have a policy with Oklahoma Farmers Union and switched to USAA, you might achieve a yearly savings of about $5. Drivers with The Hartford could save as much as $172 a year, and GEICO insureds might see rate reductions of $220 a year.
Remember that these premiums are averaged across all types of insureds and vehicles and do not factor in a specific vehicle garaging location for young drivers. So the company that fits your situation best may not even be in the top 17 companies in the list above. That helps illustrate why you need to get car insurance quotes using your own specific driver information and vehicle.
One of the many considerations that determine the price you pay for insurance is the neighborhood you call home. Cities with larger populations or higher claim trends are more likely to have higher rates, whereas areas with less crime or weather claims have the benefit of cheaper auto insurance prices.
The information below lists the most expensive areas in Oklahoma for young drivers to purchase car insurance in. Tulsa ranks #1 with an annual rate of $2,282 for the average insured, which is about $190 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Tulsa | $2,282 |
| 2 | Broken Arrow | $2,216 |
| 3 | Bixby | $2,213 |
| 4 | Midwest City | $2,205 |
| 5 | Oklahoma City | $2,199 |
| 6 | Del City | $2,177 |
| 7 | Sand Springs | $2,161 |
| 8 | Sapulpa | $2,144 |
| 9 | Bethany | $2,135 |
| 10 | Owasso | $2,127 |
| 11 | Edmond | $2,126 |
| 12 | Norman | $2,075 |
| 13 | Moore | $2,069 |
| 14 | Shawnee | $2,028 |
| 15 | Yukon | $2,015 |
| 16 | Claremore | $1,987 |
| 17 | Ponca City | $1,976 |
| 18 | Muskogee | $1,962 |
| 19 | Bartlesville | $1,922 |
| 20 | Stillwater | $1,911 |
| Compare Prices Now Go | ||
Price information shown is estimated as zip code location can lower or raise auto insurance rates noticeably.
Get discount Tulsa car insurance
Insurance companies that offer cheap quotes for young drivers may also offer price discounts that could potentially reduce rates by 30% or more if you meet specific criteria. A few of the larger companies and a partial list of their discounts are:
- Farmers Insurance offers discounts for early shopping, youthful driver, business and professional, pay in full, and switch companies.
- State Farm includes discounts for driver’s education, good student, accident-free, safe vehicle, and Drive Safe & Save.
- Liberty Mutual offers discounts including preferred payment discount, exclusive group savings, newly married, good student, newly retired, and safety features.
- MetLife discounts include accident-free, defensive driver, good student, good driver, claim-free, and multi-policy.
- Progressive has savings for homeowner, multi-policy, multi-vehicle, online quote discount, continuous coverage, and good student.
The illustration below illustrates the comparison of insurance rates with and without discounts applied. The price estimates are based on a male driver, no claims or driving citations, Oklahoma state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with passive restraint, vehicle safety, good student, anti-theft, paperless filing, and paid-in-full discounts applied. When discounts are applied, theamount saved on car insurance for young drivers is 28% or $677.
The diagram below demonstrates how deductible levels can affect insurance premiums when researching cheap insurance for young drivers. The information is based on a single male driver, comp and collision included, and no discounts are factored in.
A 40-year-old driver could lower their car insurance rates by $514 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $776 by selecting a $1,000 deductible. Younger drivers, such as the Age 20 example, could drop their prices $1,702 annually just by choosing higher deductibles when buying full coverage.
When insureds make the decision to increase the deductibles on their policy, it will be required to have additional savings on hand to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
The benefit of shopping around
Tulsa car insurance rates are calculated based on many things that may substantially change the cost of your policy. Improving your credit rating, having a claim, or getting a speeding ticket can trigger rate changes that can cause some rates to be cheaper than before. Additionally, car insurance companies modify pricing at least once a year in order to maintain liquidity for claims. Heavy losses may result in higher prices, while lower claim levels may produce more affordable Tulsa car insurance rates.
As an example, the data below shows a variety of companies that have the cheapest car insurance in Tulsa, OK for a 35-year-old female driver with no accidents, a clean driving record, and excellent credit. If we compare prices based on her personal profile, Oklahoma Farmers Union quotes the cheapest car insurance rates in Tulsa at $1,433 annually. This is $534 less than the average premium paid by Oklahoma drivers of $1,967. USAA, The Hartford, Safe Auto, and Farmers round out the rest of the most affordable Tulsa, OK auto insurance companies.
Now we will pretend the driver from the above example a chargeable claim, slightly worse credit, and a stop sign violation. Since each insurance company has their own formula for determining rates in each state, comparing quotes may now present a slightly different list of cheap Tulsa auto insurance companies as shown below.
State Farm now has the best auto insurance rate in Tulsa with USAA, Liberty Mutual, Travelers, and Farmers now being in the top five. This illustrates why it is critical to shop around to find the best insurance quotes for young drivers.
Auto insurance prices can be altered by many factors and can change substantially, so the cheapest option the last time you checked may now be one of the more expensive options.
How to find low-cost insurance for young drivers
It is possible to find better rates, and here are a few money-saving ideas that can help you find low-cost coverage.
- Having at-fault accidents will increase rates
- Buying car and homeowners insurance together can save money
- Try to not file small claims
- Ensure your driving record is clean
- Drive a car with a high safety rating
- Shop around for cheaper prices
The final tip is highly vital, as was affirmed in this write-up. Insurance prices in Tulsa fluctuate considerably, so drivers shouldn’t be resistant to buy from a different company if a more affordable rate is found. Being loyal to a particular company is commendable, but it’s not recommended if that devotion results in you overpaying thousands of dollars over several years. It takes less than five minutes to compare rates to find cheaper car insurance for young drivers.
If you like to have some advice when comparing insurance rates for youthful drivers, the agents below can help you determine which policy fits your needs best. To find a Tulsa insurance agency close to where you live, click the button link following the list.
Allstate Insurance: Todd Williams
3315 S Yale Ave Ste 200 – Tulsa, OK 74135 – (918) 742-2784
A-1 Insurance
4100 E 51st St #105 – Tulsa, OK 74135 – (918) 743-2886
EZ Insurance Agency
1207 S Memorial Dr – Tulsa, OK 74112 – (918) 794-3220