Who Has the Cheapest Car Insurance Quotes for 16 Year Olds in Oklahoma?

You have surely seen all the captivating commercials from car insurance companies like Allstate and Progressive that say if you switch you’ll get big savings. So you should just choose any one of them, right?

It’s not quite that easy, unfortunately, as there are a ton of unknowns like if you have a coverage lapse, if you are a woman or a man, and if you are a homeowner or renter, that all factor into the price you pay. We will try to teach you about some of these factors and also should give you a good beginning to your quest for cheaper car insurance in Oklahoma.

The make and model of vehicle driven is a large factor that determines whether or not you can buy the cheapest auto insurance for 16 year olds. Vehicles with economical engines, good crash test ratings, or low incidents of liability claims will cost much less to insure than higher performance models. The list below illustrates car insurance premiums for a handful of the most budget-friendly vehicles to insure.

Table data assumes single female driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, and safe-driver. Estimates do not factor in vehicle location which can affect coverage rates noticeably.

Based upon the table data, makes and models like the Honda Accord, Ford Escape, Honda CR-V, Chevrolet Traverse, and Toyota Prius are a few of the most budget-friendly vehicles to insure for new drivers. Auto insurance rates will tend to be more expensive because of the fact that there is more claim exposure for 16 year olds, but overall those particular models will probably have the cheapest rates compared to all other vehicles.

Figuring out which company offers the cheapest auto insurance rates for 16 year olds will require a little more sweat than just comparing rates from one or two companies. Every insurance company has their own unique process for setting rates, so let’s look at the rankings for the auto insurance companies with the most affordable rates in Oklahoma.

We do need to point out that Oklahoma auto insurance rates are based on many factors that control the cost of a policy. Simply improving your credit, becoming a homeowner, or having an at-fault accident may generate price changes that can now make some companies cheaper in comparison to the competition.

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USAA quotes some of the lowest car insurance rates in Oklahoma at around $1,161 each year. Oklahoma Farmers Union, The Hartford, Safe Auto, and GEICO also are some of the most economical Oklahoma insurance companies.

As depicted above, if you currently buy coverage from Safe Auto and switched to Oklahoma Farmers Union, you could earn a yearly savings of around $175. Drivers with GEICO might save as much as $192 a year, and Farmers customers might see rate reductions of $234 a year.

To find the cheapest car insurance for 16 year olds in Oklahoma for your vehicle, click here to start your custom quote or visit any of the companies below.

Remember that these premiums are averages across all drivers and vehicles in Oklahoma and and are not figured with a rate increase for 16 year olds. So the car insurance company that fits your needs best may not even be in the list of companies shown earlier. That’s why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.

For new drivers, one of the largest criteria that determine the amount you pay for auto insurance is where you choose to live in Oklahoma. Areas that are more densely populated or have higher claim rates like Tulsa, Bixby, and Oklahoma City tend to pay slightly more, whereas areas with less crime or weather claims have the luxury of lower rates.

The illustration below lists the higher priced cities in Oklahoma for 16 year olds in which to buy car insurance.

Premium costs are comparative as the specific Oklahoma residence address can impact insurance rates substantially.

Discounts on Oklahoma insurance rates

Car insurance companies that sell the cheapest car insurance for 16 year olds in Oklahoma may have discounts that can lower rates by 25% or more if you meet certain criteria. A few of the larger companies and a summarized list of policyholder discounts are shown below.

The illustration below shows the difference between auto insurance rates with and without discounts being applied to the rates. The prices are based on a male driver, no claims or violations, Oklahoma state minimum liability limits, comp and collision included, and $1,000 deductibles.

The first bar for each age group shows premium with no discounts. The second shows the rates with paperless filing, anti-theft, vehicle safety, good student, passive restraint, and continuous coverage discounts applied. With discounts applied, the the amount saved on auto insurance for 16 year olds is 34% or $636.

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The illustration below highlights how deductible selection can raise or lower insurance costs when trying to find cheap insurance for 16 year olds. The price estimates are based on a married male driver, comp and collision included, and no policy discounts are applied.

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As shown above, a 30-year-old driver could save $466 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $704 by choosing a $1,000 deductible. Youthful drivers, such as the 20-year-old example, could roll back prices as much as $1,420 or more by choosing a higher deductible. If you do decide to increase your deductibles, it’s a good idea to have enough in a savings account to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.

How to find economical auto insurance for 16 year olds

The list below details some of the recommended thrifty solutions that can help you locate the cheapest coverage.

• Increase your credit rating
• Increase your comprehensive and collision deductibles
• Be a cautious driver
• The safer your car, the less it costs to insure
• Avoid at-fault accidents and claims
• Compare rates regularly and switch companies to save money

The last tip in the list is notably vital, as we emphasized in the prior information. Coverage rates adjust often, so don’t be tentative to buy a policy from a new company if a more affordable price is available. Many consumers stick with the same company and that’s fine, but is isn’t recommended if it’s costing you money that could be spent on other things. In just a few minutes you could compare rates to find cheaper insurance for 16 year olds.

Cheapest insurance quotes for new drivers

Due to technology, there are many ways to shop around for auto insurance in Oklahoma, but the most preferred are through an exclusive insurance agency like Allstate or State Farm, an independent or non-exclusive agent, or direct online or over the phone from a company like Progressive or Geico. Each way has the same basic process, but auto insurance shoppers should know the differences in how they function.

Independent insurance agents can place your business with multiple companies and can get rate quotes from each one. These types of agencies are not employed by only one company and can give you more rates, which may provide you with the best chance of saving money. If they quote lower rates, your policy can be easily switched to a different company without you having to go to a different agency.

Exclusive agencies are only able to place business with just one company, two of the more popular are State Farm and Auto-Owners agents. These agents are not able to provide a range of price quotes, so if finding the cheapest auto insurance is your goal, you will want to shop around.

Consumers who buy auto insurance direct do not use local agents and instead buy from a direct company like Esurance or Progressive. Shopping direct may be good for drivers who do not need advice for risk management and have a good understanding of the limitations of auto insurance.

So which way is best to find the cheapest car insurance for 16 year olds in Oklahoma? Our initial answer would be buying from a direct company yields the cheapest rates since there is no middleman, but unfortunately, it’s not that simple. It could also be said an independent agent is the best way since they have access to many companies, but again, it’s not necessarily true. In the right set of circumstances, the exclusive agents have very competitive rates that are the cheapest in Oklahoma.

Because of the variability of auto insurance rates, the best method to ensure the lowest rates is to obtain price quotes and compare them. It’s a good idea to get prices from all three to give yourself plenty of rates to compare. For a list of companies with online discounts, click here to view.