The make and model of vehicle to be insured is a large factor when looking for low-cost auto insurance for homeowners. Vehicles with higher performance, a lack of advanced safety features, or high incidents of liability claims will cost substantially more to insure than more economical and safe models. The data below shows insurance rates for the most affordable vehicles to insure.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Ford Escape Limited 4WD||$1,150|
|Ford F-150 XLT Super Cab 4WD||$1,213|
|Ford Focus S 4-Dr Sedan||$1,232|
|Ford Edge SEL 2WD||$1,238|
|Honda CR-V EX-L 2WD||$1,243|
|Toyota Camry XLE||$1,320|
|Toyota Corolla XRS||$1,344|
|Dodge Ram Crew Cab SLT 2WD||$1,369|
|Honda Accord EX-L 2-Dr Coupe||$1,435|
|Chevrolet Silverado 2500HD LTZ Crew Cab Diesel 4WD||$1,440|
|Chevrolet Silverado Crew Cab Hybrid 4WD||$1,435|
|Toyota RAV4 Limited 4WD||$1,437|
|Jeep Grand Cherokee Laredo 4WD||$1,442|
|Volkswagen Jetta S 4-Dr Sedan||$1,437|
|Ford F-250 XL 4WD||$1,454|
|Ford F-350 Super Cab Harley Turbo Diesel 2WD||$1,458|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,465|
|Chevrolet Impala LS||$1,510|
|Honda Odyssey EX-L W/Navigation||$1,512|
|Chevrolet Malibu LTZ||$1,540|
|GMC Sierra SLE Crew Cab 2WD||$1,548|
|Chevrolet Equinox LTZ AWD||$1,540|
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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 multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Estimates do not factor in garaging location in Tulsa, OK which can decrease or increase premiums considerably.
By looking at the data, makes and models like the Ford Escape, Ford F-150, Ford Focus, Ford Edge, and Honda CR-V will be some of the most economical vehicles to insure for people who own their homes.
Finding out which company quotes the best car insurance rates for homeowners may require more work than just quoting one company’s rates. Every car insurance company has a proprietary method to set premium rates, so let’s take a look at the car insurance companies with the most affordable rates in Tulsa.
It’s important to understand that Tulsa, OK car insurance rates are based on many factors which can significantly increase or decrease the price of coverage. Improving your credit score, becoming a homeowner, or getting a ticket for running a stop sign can produce rate changes resulting in some rates now being affordable when they were higher priced.
Cheapest Insurance Rates for Homeowners
USAA quotes some of the cheapest car insurance rates in Tulsa at around $1,161 annually. This is $806 less than the average price paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, GEICO, Safe Auto, and The Hartford also make the cut as some of the most economical Tulsa, OK auto insurance companies.
As shown in the table above, if you are insured with Safe Auto and switched to Oklahoma Farmers Union, you could realize yearly savings of approximately $173. Policyholders with The Hartford might save as much as $183 a year, and Farmers insureds might cut rates by $232 a year.
If you want to see how much you could save, click here to get a free quote or visit any of the companies below.
It’s important to note that these policy rates are averaged for all types of drivers and the different vehicles they drive and and are not figured with a specific location for homeowners. So the car insurance company that can offer you the best rate may not even be in the top 17 companies in the list above. That affirms the importance of why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.
For people who own their homes, one of the more important criteria that determine the amount you pay for auto insurance is the neighborhood you call home in Tulsa. Cities with more crime and/or more people tend to pay slightly more, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of lower rates.
The illustration below sorts the most expensive cities in Oklahoma for homeowners to buy an auto insurance policy in. Tulsa is ranked at #1 with the yearly price of $2,282 for the average insured, which is about $190 per month.
|Rank||City||Average Per Year|
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Price information shown is approximated as the specific garaging location can modify rates significantly.
The information below demonstrates how choosing different deductibles can affect insurance premiums when quoting cheap insurance for homeowners. The premiums assume a married male driver, comp and collision included, and no discounts are applied to the premium.
A 30-year-old driver could lower their policy premium by $482 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $730 by changing to a $1,000 deductible. Even younger drivers, such as the Age 20 example, could shave $1,458 or more by using a higher deductible.
If you make the decision to raise deductibles, it is important to have enough spare savings to enable you to cover the extra out-of-pocket expense associated with higher deductibles.
Types of discounts on Tulsa insurance
Car insurance companies that provide coverage for homeowners may also give you special discounts that could lower prices by as much as 40% or more if you qualify. A list of car insurance companies and a selection of discounts are included below.
- State Farm policyholders can earn discounts including Steer Clear safe driver discount, defensive driving training, Drive Safe & Save, good student, anti-theft, multiple autos, and accident-free.
- GEICO includes discounts for military active duty, anti-theft, good student, anti-lock brakes, and air bags.
- Progressive may have discounts that include multi-vehicle, multi-policy, homeowner, good student, and online quote discount.
- 21st Century offers premium reductions for early bird, air bags, homeowners, defensive driver, theft prevention, and student driver.
- American Family discounts include mySafetyValet, multi-vehicle, early bird, air bags, good driver, TimeAway discount, and bundled insurance.
- The Hartford may include discounts for driver training, defensive driver, bundle, air bag, and good student.
- AAA has discounts for anti-theft, good driver, pay-in-full, education and occupation, and multi-car.
The information below shows the difference between insurance prices with and without discounts applied to the policy rates. The premium estimates are based on a male driver, no violations or claims, Oklahoma state minimum liability limits, full physical damage coverage, and $250 deductibles.
The first bar for each age group shows premium with no discounts. The second shows the rates with passive restraint, multiple vehicle, anti-theft, defensive driving course, accident-free, and multiple policy discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on car insurance for homeowners is 28% or $718.
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Oklahoma car insurance rates are impacted by many factors that will increase or decrease the policy premium. Simply improving your credit, moving to a new city, or getting a couple of tickets can produce rate changes that can cause some rates to be cheaper in comparison to the competition.
In addition, companies change premium rates as needed in order to offset underwriting gains or losses. A period of increased losses can cause price increases, while long-term profits can cause more affordable Tulsa car insurance rates.
The graph below compares the cheapest car insurance in Tulsa, OK for a 45-year-old female driver with no accidents or violations, and good financial standing. If we look at prices based on her personal profile, Oklahoma Farmers Union may have the most affordable car insurance rates in Tulsa at $1,390 annually. This is $577 less than the average policy premium paid by Oklahoma drivers of $1,967. USAA, GEICO, The Hartford, and Farmers also make the list of the most affordable Tulsa, OK auto insurance companies.
Now we will give the driver in the first chart a claim, a lower credit score, and a traffic ticket or two. Since each auto insurance company has a unique formula to determining premium rates, comparing rates could result in a slightly different list of cheap Tulsa auto insurance companies as shown below.
State Farm now has the cheapest price in Tulsa, OK with USAA, Liberty Mutual, GEICO, and Travelers now being in the top five. This example shows why it is important to shop around when trying to get the cheapest insurance rates for homeowners. Prices are influenced by many risk factors and can increase or decrease at any time, so the best price when you last compared rates may now be one of the more expensive options.
The agents listed below can aid you in deciding which coverages you need, as some drivers have questions and prefer to have a little guidance when trying to find lower insurance rates for homeowners. It can be difficult to find the best policy yourself, so insurance agents licensed in the state of Oklahoma can bring comfort knowing your policy gives you sufficient coverage for your assets.
To locate a Tulsa insurance agent nearest to you, click the link after the list or click here to compare price quotes.
Velta Augusta – State Farm Insurance Agent
8929 S Memorial Dr #190 – Tulsa, OK 74133 – (918) 254-1959
Admiral Insurance Agency
6710 E Admiral Pl – Tulsa, OK 74115 – (918) 836-5551
Jim Campos – State Farm Insurance Agent
12802 E 31st St a – Tulsa, OK 74146 – (918) 622-4777
Hometown Insurance Agency Inc
8282 S Memorial Dr #201 – Tulsa, OK 74133 – (918) 366-9999