Who Has Cheap Auto Insurance for a Company Car in Oklahoma?

The make and model of vehicle you are seeking coverage for is a large consideration when looking for cheap car insurance for a company car in Oklahoma. Vehicles with high performance, a lack of safety features, or a history of substantial liability claims will cost significantly more to insure than more modest models. The data below shows auto insurance premiums for a selection of the most cost-effective automobiles to insure.

Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Information does not factor in specific zip code location which can lower or raise insurance rates substantially.

Based upon the rates shown, makes and models like the Ford Escape, Jeep Wrangler, and Toyota Prius will definitely be a few of the less-costly vehicles to insure for your employer’s vehicle.

Buying reasonably-priced insurance is tough enough, and determining which insurers offer the cheapest car insurance rates for a company car will take even more diligence. Each insurer has their own process for filing rates in each state, so let’s rank the most budget-friendly car insurance companies in Oklahoma.

Best Cheap Insurance Rates in Oklahoma

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USAA has some of the cheapest car insurance rates in Oklahoma at around $1,150 annually. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto also make the cut as some of the best Oklahoma auto insurance companies.

As depicted above, if you have coverage with GEICO and switched to USAA, you may see yearly savings of upwards of $231. Drivers with Safe Auto may save as much as $255 a year, and Farmers insureds might realize rate reductions of up to $272 a year.

It’s important to note that these premium estimates are averages for all types of insureds and vehicles and and are not calculated with a rate discount for a company car. So the car insurance company that fits your needs best may not even be shown in the above rate chart. That emphasizes why you need to quote rates from many companies using your own individual information.

Impact of violations and accidents on rates in Oklahoma

The best way to score affordable car insurance rates for your employer’s vehicle is to be a safe driver and maintain a clean driving record. The chart below shows how violations and accidents can increase auto insurance rates for different insured age categories. The premium estimates are based on a single female driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied.

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In the example above, the average cost of a car insurance policy in Oklahoma per year with a clean driving record and no accidents is $2,431. Get one speeding ticket and the average cost swells to $2,754, an increase of $323 each year. Next add one accident along with the one speeding ticket and the 12-month cost of car insurance for a company car goes up to an average of $3,666. That’s an increase of $1,235, or $103 per month, just for not driving attentively!

How to find budget-friendly insurance for a company car

It is possible to find better rates, and here are a few thrifty ideas that can help drivers locate low-cost coverage.

• Drivers with good credit ratings often pay less
• Buy your homeowners policy from the same company as your auto insurance
• Save money by staying claim-free
• The safer your car, the less it costs to insure
• Increase the comprehensive and collision deductibles on your policy
• Drop full coverage on older vehicles
• Keep rates low by comparing prices once a year

The last tip in the list is highly significant, as was noted in this piece. Coverage rates adjust frequently, so drivers shouldn’t hesitate to switch companies if a lower price can be found.

Staying with the same car insurance company is fine, but is isn’t recommended if that inflexibility results in costing you lots of money. It only take a few minutes to compare rates to find cheaper insurance for a company car.

Who has the cheapest insurance quotes for your employer’s vehicle?

There are many ways to comparison shop for car insurance in Oklahoma, but the most frequently used ways are from an exclusive insurance agent like Allstate or Liberty Mutual, an independent insurance agent, or direct online or over the phone from a company like Geico or Progressive.

You can use whichever method you prefer, but shoppers should understand the differences in how they provide rate quotes.

Independent agents work with multiple companies and can provide price quotes from each one. These agents have the freedom to give you a larger rate selection, which may provide you with more bang for your buck. If a cheaper rate is found, your agent can switch companies which requires no work on your part.

Exclusive agents are only able to quote your policy with a single insurance company, two popular examples being State Farm and Auto-Owners agents. They generally cannot provide rate quotes from other companies, so it’s a good idea to get additional quotes.

If you want to buy car insurance direct, you do not use an exlusive or independent agent and instead buy from a direct company like Esurance or Geico. Shopping direct may be good for drivers who have fewer assets and have a decent understanding of how car insurance works.

So which way is best to buy cheap car insurance for a company car in Oklahoma? One answer would be buying from a direct company yields the cheapest rates because there are no middleman commissions, but in reality, that is not true. It could also be said an independent agent guarantees the best prices since they have more companies to choose from, but that’s not always true, either. In a lot of cases, the exclusive agents have really good rates well below independent agents AND direct companies.

Because there is so much variation in car insurance prices, the only real way to buy the cheapest coverage is to get quotes and compare the rates. Make the effort to get price quotes from independent, exclusive, and direct in order to find the best price. For a list of companies with online discounts, click here to view.