Cheapest Auto Insurance for Drivers Requiring a SR22 in Oklahoma

The words “affordable” and “insurance” probably shouldn’t be used in the same sentence, especially when you are shopping around for the lowest insurance rates for drivers requiring a SR22. Because it’s not cheap, let’s teach you some situations that influence auto insurance rates, and find a way to shave a little off your next policy.

Finding dependable, reasonably-priced auto insurance is not the easiest thing to accomplish, and finding out which companies have the lowest-priced car insurance rates for drivers requiring a SR22 will involve even more perseverance. Prices will probably be significantly higher than the average rate in Oklahoma, with the extra cost attributed to the potential for more claims that comes with selling coverage for high risk drivers, but competitively-priced insurance should be possible if you shop around. Every insurance company has a unique approach for filing rates in each state, so we’ll take a look at the most competitive car insurance companies in Oklahoma.

It’s a good idea to know that Oklahoma car insurance rates are influenced by many factors which can significantly increase or decrease the price you pay for coverage. This price fluctuation is why it is important to shop around with many companies when trying to find the most affordable auto insurance quotes for drivers requiring a SR22. Auto insurance prices can be determined by many different factors and can decrease or increase without notice, so the cheapest rate two years ago may now be wasting a lot of money.

Best Cheap Insurance Rates for SR22 Drivers

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USAA may offer some of the lowest car insurance rates in Oklahoma at around $1,196 a year. Oklahoma Farmers Union, The Hartford, Safe Auto, and GEICO would also make the list of some of the best Oklahoma car insurance companies.

In the above example, if you buy coverage from GEICO and switched to Oklahoma Farmers Union, you might realize an annual savings of roughly $179. Policyholders with Farmers may save as much as $234 a year, and State Farm customers might see rate reductions of $334 a year.

If you want to find out if you’re overpaying, click here to begin a quote or visit any of the companies below.

Remember that these policy prices are averaged across all drivers and vehicles in Oklahoma and do not take into consideration a price surcharge for drivers requiring a SR22. So the car insurance company that is best for you may not even be shown in the list of companies above. That illustrates why you need to compare rates from as many companies as possible using your own individual information.

When shopping for car insurance for high risk drivers, one of the many things that car insurance companies take into consideration when calculating car insurance rates is where you normally keep your vehicle in Oklahoma. Areas with more people or even just a higher incidence of claims like Tulsa, Sand Springs, and Oklahoma City tend to have more expensive car insurance rates, whereas areas with less traffic congestion and claims tend to receive slightly lower rates.

The next table shows the higher priced cities in Oklahoma for drivers requiring a SR22 to purchase a policy in.

Premium costs are approximated as the garaging address in Oklahoma can change price quotes substantially.

Liability only or full coverage

Finding the cheapest auto insurance for drivers requiring a SR22 in Oklahoma should be important to most vehicle owners, and a great way to pay lower rates for insurance is to not pay for full coverage. The illustration below illustrates the comparison of car insurance rates when comparing full coverage to liability only. The data is based on no violations or accidents, $100 deductibles, marital status is single, and no discounts are applied.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $100 Deductibles’, ‘Liability Only’],[‘Age 20’, 5951,1789],[‘Age 30’, 3023,977],[‘Age 40’, 3017,905],[‘Age 50’, 2741,847],[‘Age 60’, 2653,831],[‘Age 70’, 3233,1115]]);var options = {title: ‘Full Coverage and Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Oklahoma’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If we average all the age groups together, physical damage coverage on your policy costs $3,436 per year more than just insuring for liability. At some point, almost every driver questions if it’s a good idea to buy full coverage. There is no written rule for eliminating physical damage coverage on your policy, but there is a general school of thought. If the annual cost of coverage is about 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s pretend your vehicle’s replacement cost is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $7,000 after paying your deductible. If it’s costing you more than $700 annually for full coverage, then you might want to think about dropping full coverage.

There are some cases where buying only liability insurance is not recommended. If you still owe a portion of the original loan, you have to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not remove full coverage.

Discount Oklahoma auto insurance

Insurance providers that offer the cheapest auto insurance for drivers requiring a SR22 in Oklahoma may provide special discounts that could lower prices by 30% or more if you meet specific eligibility requirements. A few of the larger companies and some of the discounts are detailed below.

• Progressive may include discounts for multi-vehicle, homeowner, continuous coverage, online signing, and online quote discount.
• MetLife offers discounts including defensive driver, multi-policy, good driver, claim-free, accident-free, and good student.
• Mercury Insurance may offer discounts for type of vehicle, good student, annual mileage, anti-theft, location of vehicle, multi-policy, and professional/association.
• Nationwide offers premium reductions for good student, business or organization, accident-free, multi-policy, defensive driving, and Farm Bureau membership.
• GEICO includes discounts for emergency military deployment, five-year accident-free, daytime running lights, air bags, and defensive driver.
• AAA discounts include education and occupation, multi-car, AAA membership discount, good student, pay-in-full, and anti-theft.

The example below visualizes the comparison of annual premium costs with and without discounts being applied to the rates. The premiums assume a female driver, one citation and one at-fault accident, Oklahoma state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with multiple policy, paperless filing, multiple vehicle, vehicle safety, anti-theft, and paid-in-full discounts applied. When discounts are applied, the the amount saved on car insurance for drivers requiring a SR22 is 28% or $1,138.

google.charts.setOnLoadCallback(drawDiscqcibChart);function drawDiscqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Female Driver No Discounts’, ‘Female Driver with Discounts’],[‘Age 20’, 5343,3845],[‘Age 30’, 4147,2997],[‘Age 40’, 3939,2843],[‘Age 50’, 3619,2611],[‘Age 60’, 3541,2555],[‘Age 70’, 3885,2797]]);var options = {title: ‘Effect of Discounts on Insurance Price for Drivers Requiring a SR22’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’:{left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#c096ca’, ‘#e1b7ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Oklahoma’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdisc’));chart.draw(data, options);}

Is Geico, Allstate, State Farm, or Progressive cheaper?

If you want reliable auto insurance, some of the largest companies to start with are Geico, Allstate, State Farm, and Progressive. Each one has a distict selection of optional coverages and features that policyholders can choose from. The table below shows ratings for price, service, and claims, in additional to some of the optional coverages .