You have most likely seen the captivating ads from car insurance companies like GEICO and Progressive that say if you switch you’ll get the cheapest price. So you should just choose any one of them, right?
Unfortunately, it’s just not that easy, as there are a whole slew of unknown elements such as how well you maintain your credit, if you have ever let your policy lapse, and if you are a homeowner or renter, that all impact the cost of coverage. This article covers the best ways to avoid high prices and also should give you some help in finding cheaper rates.
The car, truck, or SUV requiring insurance is a large factor when shopping for the most affordable car insurance for college graduates. Vehicles with limited speed and performance, modern passenger safety features, or a low likelihood of liability claims will cost substantially less to insure than higher performance models.
The next list showcases car insurance costs for some of the most affordable automobiles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$1,072|
|Ford Edge SEL AWD||$1,244|
|Ford Explorer Limited AWD||$1,293|
|Chevrolet Malibu LT||$1,303|
|Honda Accord EX 4-Dr Sedan||$1,314|
|Toyota Camry XLE||$1,335|
|Ford Escape XLT 4WD||$1,345|
|Honda Odyssey LX||$1,347|
|Hyundai Sonata GLS 4-Dr Sedan||$1,363|
|Ford F-150 Lariat Crew Cab Harley 4WD||$1,382|
|Toyota RAV4 Limited 4WD||$1,453|
|Chevrolet Equinox LT AWD||$1,459|
|Toyota Tacoma 4WD||$1,474|
|Chevrolet Impala LTZ||$1,528|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,535|
|Volkswagen Jetta 2.0T Station Wagon||$1,540|
|Jeep Grand Cherokee Limited 2WD||$1,556|
|Ford Fusion SE 4-Dr Sedan||$1,564|
|Chevrolet Silverado LT Crew Cab 4WD||$1,556|
|Toyota Corolla XRS||$1,563|
|Kia Optima LX||$1,561|
|Nissan Rogue S 2WD||$1,566|
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Cost estimates assume single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Price information does not factor in your specific Tulsa, OK location which can lower or raise coverage prices significantly.
Based upon the table data, makes and models like the Honda CR-V, Ford Edge, Ford Explorer, and Chevrolet Malibu are most likely to be some of the more affordable vehicles to insure for college grads.
One of the more important criteria that are looked at to help calculate insurance cost is where you normally keep your vehicle in Tulsa. Larger areas tend to pay slightly more, whereas areas that tend to be more rural profit from lower rates.
The table below shows the highest-priced areas in Oklahoma for college graduates to purchase auto insurance in. Tulsa shows up at #1 with a yearly cost of $2,215 for the average policyholder, which is around $185 monthly.
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Rates are approximated as specific location information can alter coverage prices greatly.
Buying reasonably-priced auto insurance is not most people’s favorite thing to do, and determining which companies offer the lowest-priced insurance rates for college graduates calls for more quotes for comparison. Every insurance provider uses their own method for setting prices, so to begin we’ll rank the insurance companies with the most affordable rates in Tulsa, OK.
Best Car Insurance Prices for Grads
|Rank||Company||Cost Per Year|
|1||Oklahoma Farmers Union||$1,154|
|10||OK Farm Bureau||$1,997|
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Oklahoma Farmers Union generally has some of the cheapest car insurance rates in Tulsa at around $1,154 annually. USAA, GEICO, Safe Auto, and The Hartford are also some of the cheaper Tulsa, OK auto insurance companies.
In the above rates, if you are a policyholder with Safe Auto and switched to Oklahoma Farmers Union, you could see an annual savings of in the neighborhood of $209. Oklahoma drivers with The Hartford might save as much as $219 a year, and Farmers policyholders might reduce prices by as much as $226 a year.
To compare your rates to other Oklahoma insurance companies, click here to start a quote or click several companies below for low rates.
Understand that those policy rates are averaged for all types of insureds and vehicles and do not factor in a specific location for college graduates. So the auto insurance company that has the lowest price for you may not even be in the top 17 companies shown above. That is why you need to compare rates from as many companies as possible using your own personalized driver profile and vehicle information.
Liability only or full coverage
Finding the cheapest insurance is probably important to the majority of vehicle owners, and one of the fastest ways to save on the cost of insurance for college graduates is to not buy comprehensive and collision coverage. The illustration below shows the difference between insurance costs with full physical damage coverage compared to only buying liability only. The price estimates are based on no violations or accidents, $250 deductibles, single marital status, and no discounts are taken into consideration.
As an average for all age groups, physical damage coverage on your policy costs $2,349 per year more than just buying liability insurance. Many drivers may wonder if full coverage is worth the money. There isn’t a steadfast formula to exclude full coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is more than 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.
The information below demonstrates how deductible levels can impact insurance rates when trying to find cheap insurance for college graduates. The data is based on a single female driver, comprehensive and collision coverage, and no discounts are applied.
In the chart above, a 50-year-old driver could lower their policy premium by $426 a year by changing from a $100 deductible up to a $500 deductible, or save $644 by selecting a $1,000 deductible. Younger drivers, like the age 20 example, could roll back prices $1,082 or even more by choosing a larger deductible amount.
If you do make the decision to raise your deductibles, it will be necessary to have plenty of savings on hand to be able to pay the extra out-of-pocket expense associated with higher deductibles.
The importance of comparing Tulsa car insurance rates
Tulsa, OK insurance rates are impacted by many factors that will increase or decrease the price of your policy. Simply improving your credit, having a teen driver, or getting a couple of tickets can trigger changes in premium resulting in some companies being cheaper in comparison to the competition. In addition, insurance companies change rates without warning in order to maintain liquidity for claims. Higher than usual claims can cause increased rates, while a better loss history can cause cheaper Tulsa car insurance rates.
For instance, the graph below shows the companies that have the cheapest car insurance in Tulsa, OK for a 40-year-old male driver with a clear driving record, no claims, and a decent credit rating. If we estimate prices based on his current rating profile, USAA offers the most affordable car insurance rates in Tulsa at $1,365 a year. This is $602 less than the average price paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto are also included in the best Tulsa, OK auto insurance companies.
Now let’s give the driver from the above example an accident surcharge, bad credit, and a speeding ticket. Because each company has a unique approach to establish rates, comparing prices may now show a substantially altered list of cheap Tulsa auto insurance companies as shown below.
State Farm now has the best car insurance rate in Tulsa with Oklahoma Farmers Union, Liberty Mutual, Travelers, and GEICO now rounding out the top five. This demonstrates why it is critical to perform a complete rate comparison when trying to find the cheapest car insurance quotes for college graduates. Prices can be altered by many factors and can decrease or increase without notice, so the cheapest option the last time you checked may now be costing you a lot of money.
How to find budget-friendly insurance for college graduates
Here are some thrifty suggestions that can help you find more affordable coverage.
- Frequent claims may make car insurance unaffordable
- Prevent rate increases by staying accident-free
- Buying car and homeowners insurance together can save money
- Do not get tickets or violations
- Safer vehicles cost less to insure
- Don’t waste money on full coverage for older vehicles
- Compare rate quotes often
The final tip is extremely important, as was affirmed in the prior information. Auto insurance rates can be adjusted at any time, so drivers shouldn’t be resistant to switch carriers if a cheaper price is available. Many drivers prefer to stick with one company, but it’s not a great idea if that dedication is costing hundreds of dollars a year. If you have a few minutes, now is a great time to compare prices and find cheaper auto insurance for college graduates in Tulsa.
If you have coverage questions and would like to have some professional guidance when shopping for cheaper insurance for college graduates, the agencies below are willing to help you determine which coverages and limits you need. To locate a Tulsa insurance agent closest to you, click the button after the list.
Randall Young – State Farm Insurance Agent
5840 S Memorial Dr #207 – Tulsa, OK 74145 – (918) 664-8750
Scott Mccoy Insurance Agency, Inc.
7030 S Yale Ave Suite #109 – Tulsa, OK 74136 – (918) 894-5551
4100 E 51st St #105 – Tulsa, OK 74135 – (918) 743-2886