Wouldn’t life be great if we knew the single company that has the cheapest rate quotes for teenagers? It’s not that easy, however, as there are a ton of unknown factors such as the number of miles you drive each year, whether you are female or male, if you are a homeowner, and how old you are, that all help calculate your car insurance rates. The information below covers the types of situations that result in high rates and should give you a good start to your coverage search.
For teen drivers, one of the largest things that are used to help calculate the cost of insurance is the neighborhood you call home in Tulsa. Regions with more people or even just more weather-related claims will most likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims receive better rates.
The table below ranks the highest-priced areas in Oklahoma for teenagers to purchase auto insurance in. Tulsa shows up at #1 with an annual cost of $2,282 for the average policyholder, which is around $190 per month.
|Rank||City||Premium Per Year|
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Information shown are estimated as the specific zip code location can revise coverage rates noticeably.
The type of vehicle requiring coverage is one of the largest factors when looking for affordable coverage for teenagers. Vehicles with high performance, poor safety ratings, or a track record of large liability claims will cost substantially more to insure than safer, lower-performance models.
The list below outlines car insurance prices for a handful of the cheapest automobiles to insure in Oklahoma.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda Accord LX-P 4-Dr Sedan||$4,079|
|Honda CR-V EX 2WD||$4,084|
|Ford Escape XLT 4WD||$4,117|
|Hyundai Elantra SE Touring Station Wagon||$4,374|
|Ford Edge SE 2WD||$4,541|
|Toyota Tacoma 4WD||$4,580|
|Volkswagen Jetta SE 2.5 Station Wagon||$4,673|
|Chevrolet Impala LS||$4,799|
|Toyota RAV4 Limited 2WD||$4,837|
|Chevrolet Equinox LS AWD||$4,844|
|Jeep Grand Cherokee Laredo 2WD||$4,837|
|Ford F-150 Lariat Crew Cab 2WD||$4,878|
|Chevrolet Malibu LT||$4,886|
|Dodge Grand Caravan SXT||$4,878|
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Data based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, and claim-free. Price estimates do not factor in specific zip code location which can alter premiums considerably.
Based upon these rates, you can figure that vehicles like the Honda Accord, Honda CR-V, and Ford Escape will be the cheapest vehicles to insure for teen drivers. The price for car insurance will tend to be more expensive anyway because there is more claim exposure for teenagers, but generally speaking those particular vehicles will have the lowest insurance prices compared to other types of vehicles.
Full coverage versus liability only rates
Buying cheaper auto insurance should be important to most vehicle owners, and one of the quickest ways to pay lower rates for insurance for teenagers is to buy only liability coverage. The chart below illustrates the difference between insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes a clean driving record, no claims, $100 deductibles, marital status is single, and no policy discounts are applied.
As an overall average, physical damage coverage costs $3,498 per year more than carrying just liability coverage. That is a significant amount which raises the question if full coverage is worth the money. There is no set guideline to stop paying for comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than around 10% of any settlement you would receive from your insurance company, then you might consider buying liability only.
Discount Tulsa insurance
Car insurance companies that offer cheap quotes for teenagers may additionally offer discounts that can reduce rates by 30% or more if you are eligible. Larger auto insurance companies and some of their more popular discounts are:
- American Family may offer discounts for defensive driver, bundled insurance, multi-vehicle, good driver, and TimeAway discount.
- Nationwide includes discounts for easy pay, multi-policy, family plan, anti-theft, Farm Bureau membership, and defensive driving.
- MetLife has savings for defensive driver, multi-policy, good driver, accident-free, and good student.
- 21st Century policyholders can earn discounts including 55 and older, teen driver, early bird, good student, defensive driver, air bags, and theft prevention.
- Farmers Insurance may have discounts that include multi-car, mature driver, homeowner, electronic funds transfer, distant student, and alternative fuel.
- Allstate discounts include new car, multi-policy, premier discount, defensive driver, anti-theft, farm vehicle, and EZ pay plan discount.
The information below shows the comparison of yearly insurance costs with and without discounts applied to the policy rates. The costs are based on a female driver, no claims or driving citations, Oklahoma state minimum liability limits, full coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with vehicle safety, passive restraint, anti-theft, paid-in-full, continuous coverage, and paperless filing discounts applied. When discounts are applied, theaverage yearly reduction on auto insurance for teenagers is 28% or $855.
How to find budget-friendly auto insurance for teenagers
The list below summarizes a few thrifty solutions that can help Oklahoma drivers locate more affordable auto insurance.
- Earn discounts for being claim-free
- Increase physical damage deductibles
- Staying accident-free helps keep rates low
- If your vehicles are older, consider dropping full coverage
- Avoid speeding and other traffic citations and pay less
- Compare rates regularly and switch companies to save money
The final tip is particularly significant, as we pointed out in this piece. Car insurance rates go up and down frequently, so don’t be afraid to buy from a new company if a lower price can be found. Brand loyalty is not necessarily bad, but we do not recommend it if that dedication is costing hundreds of dollars a year. Take a couple minutes and compare prices and find cheaper insurance for teenagers in Tulsa.
The auto insurance agents in Tulsa shown below can help you determine which coverage fits your budget, since lots of people like to get some professional advice when shopping for cheaper insurance for teenagers. It’s not always easy to find the best rates on your own, so insurance agents can give peace of mind knowing your coverage gives you adequate protection in case of an accident or claim. To locate a Tulsa insurance agent close to you, click the link at the bottom.
GDK Insurance Agency, Inc.
3908 E 31st St – Tulsa, OK 74135 – (918) 742-5861
Cathy Warren – State Farm Insurance Agent
6119 E 91st St Ste 100 – Tulsa, OK 74137 – (918) 481-6655
Kelly Bell – State Farm Insurance Agent
10030 S Mingo Rd b – Tulsa, OK 74133 – (918) 459-0456
Beverly Young – State Farm Insurance Agent
7112 S Mingo Rd #102b – Tulsa, OK 74133 – (918) 250-1550
Jimmie A Neely Insurance
4444 E 66th St – Tulsa, OK 74136 – (918) 494-0600