Car insurance premiums in Oklahoma depend on numerous factors, including coverage options, driver characteristics, vehicle type and location. Understanding their effect can help drivers budget and plan appropriately; using an auto insurance calculator can provide them with a good indication of annual premium costs.
Oklahoma drivers must abide by minimum liability limits established by state law in order to drive legally on the road. While this level of coverage may meet some drivers’ needs, those looking for extra security should consider purchasing Uninsured/Underinsured Motorist Coverage (UM/UIM). This additional policy helps cover medical bills and costs related to an accident caused by uninsured or underinsured drivers; however it must be noted that it’s only available in states with high rates of uninsured drivers.
Minimum liability policies provide drivers with protection in case of accidents; however, they don’t provide any cover against theft or damages to the vehicle itself. Therefore, many drivers opt to add collision and comprehensive coverage to their policies for added peace of mind in the event of costly accidents or thefts. Although collision and comprehensive policies often cost more than liability alone policies alone; they provide financial security if something arises that requires expensive repairs.
An individual’s age, driving history and credit score all play a crucial role in their Oklahoma car insurance rate. Teen drivers typically pay higher premiums because they lack experience behind the wheel and tend to get into more accidents; on the other hand, mature drivers typically enjoy lower premiums thanks to their longer track records as drivers with safer habits and longer histories behind the wheel.
Oklahoma drivers between 30-60 are on average expected to pay an annual average car insurance rate of $2,079. However, younger drivers’ costs can differ widely depending on their driving characteristics and choice of coverage – for instance a 16-year old male typically pays about $6,726 annually in full coverage car insurance premiums; to save money they could switch to cheaper liability policies or add themselves as additional drivers on their parents’ policies.
Note that prices can differ considerably among insurance providers. Therefore, it’s wise to obtain multiple quotes before making your selection to ensure drivers can find the most affordable and value-for-money policy possible.
Review your coverage at least annually to ensure it still fits with your needs and budget. If it doesn’t, shopping around might be necessary – using an online car insurance calculator makes this task simple: just enter basic personal information into it to get an estimated monthly premium estimate.