The words “low-cost” and “insurance” really shouldn’t be used together, especially when searching for the lowest insurance rates for drivers under 25. Let’s go over a few of the factors that significantly impact car insurance prices, and find some ways to reduce the price of the next policy you buy.
The make and model of vehicle you are seeking coverage for is a large factor when comparing cheap coverage for drivers under 25. Vehicles with lower performance, good crash test ratings, or a low likelihood of liability claims will cost less to insure than fast, unsafe models. The next table illustrates coverage premiums for the most affordable automobiles to buy coverage for.
|Vehicle Insured||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$3,038|
|Ford Escape Limited 2WD||$3,044|
|Hyundai Elantra SE Touring Station Wagon||$3,258|
|Volkswagen Jetta S 2.5 Station Wagon||$3,268|
|Chevrolet Silverado LS Regular Cab 4WD||$3,287|
|Ford F-150 XLT Super Cab 2WD||$3,333|
|Dodge Grand Caravan SE||$3,338|
|Chevrolet Impala LT||$3,554|
|Toyota RAV4 2WD||$3,564|
|Chevrolet Equinox LT AWD||$3,554|
|Jeep Grand Cherokee Laredo 2WD||$3,560|
|Toyota Tacoma Double Cab 4WD||$3,554|
|Chevrolet Malibu Hybrid||$3,561|
|GMC Sierra SLE Crew Cab 2WD||$3,554|
|Ford Fusion S 4-Dr Sedan||$3,564|
|Ford Explorer Limited AWD||$3,597|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$3,600|
|Honda Odyssey EX-L||$3,777|
|Ford Edge Limited AWD||$3,784|
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Cost estimates assume single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium amounts do not factor in specific Tulsa, OK garaging location which can decrease or increase auto insurance rates significantly.
Based upon the rates shown, models like the Honda CR-V, Ford Escape, Hyundai Elantra, and Volkswagen Jetta are going to be a few of the more affordable vehicles to insure for drivers age 25 and younger. The price for an auto insurance policy will be more costly because of the fact that there is more claim exposure for drivers under 25, but in general those specific models will tend to have the least expensive rates compared to all other vehicles.
Finding cheap insurance is difficult, and figuring out which companies offer the best car insurance rates for drivers under 25 may require additional perseverance. Every insurance provider has a unique formula to set policy rates, so let’s take a look at the most competitive car insurance companies in Tulsa.
It’s important that readers know that Oklahoma car insurance rates are influenced by many factors which can substantially decrease or increase the price of your policy. That is why drivers need to perform an extensive rate comparison when trying to find the lowest insurance quotes for drivers under 25. Insurance rates are influenced by many risk factors and can change substantially, so the lowest-price company the last time you compared rates may now be an over-priced policy.
Find Cheaper Auto Insurance for Young Drivers
Oklahoma Farmers Union generally has some of the most affordable car insurance rates in Tulsa at around $1,190 each year. USAA, The Hartford, Farmers, and GEICO also qualify as some of the most economical Tulsa, OK insurance companies.
In the above rates, if you buy coverage from Farmers and switched to Oklahoma Farmers Union, you might see annual savings of around $204. Insureds with GEICO may save as much as $204 a year, and Safe Auto policyholders might lower prices by $215 a year.
Bear in mind that those policy prices are averaged across all drivers and vehicles in Oklahoma and and are not figured with an exact location for drivers under 25. So the car insurance company that can offer you the lowest price may not even be in the list above. That’s why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.
For drivers age 25 and younger, one of the largest things that aid in calculating the amount you pay each year for auto insurance is where you live. Cities with larger populations tend to have higher auto insurance costs, whereas areas that tend to be more rural benefit from having to pay less for coverage.
The illustration below sorts the priciest cities in Oklahoma for drivers under 25 to buy car insurance in. Tulsa comes in at #1 with a yearly cost of $2,282 for car insurance, which is about $190 monthly.
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Rates are estimated as specific Tulsa zip code can lower or raise coverage rates noticeably.
Get discounts on Tulsa auto insurance rates
Insurance providers that offer coverage for drivers under 25 may also give you price discounts that could lower prices by 30% or more if you are eligible to receive them. A list of car insurance companies and some of the discounts are included below.
- Esurance has savings for multi-policy, anti-lock brakes, claim free, Pac-12 alumni, safety device, online quote, and renters.
- The Hartford offers discounts for defensive driver, driver training, bundle, anti-theft, vehicle fuel type, and good student.
- AAA includes discounts for multi-car, anti-theft, good driver, education and occupation, pay-in-full, and multi-policy.
- GEICO may include discounts for anti-theft, anti-lock brakes, military active duty, seat belt use, multi-policy, and air bags.
- State Farm has discounts for anti-theft, multiple autos, driver’s education, defensive driving training, Drive Safe & Save, student away at school, and Steer Clear safe driver discount.
The chart below shows the comparison of yearly insurance costs with and without discounts applied. The rates are based on a female driver, no claims, a clean driving record, Oklahoma state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with vehicle safety, passive restraint, paperless filing, continuous coverage, anti-theft, and good student discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on car insurance for drivers under 25 is 21% or $426.
Poor driving habits will raise your car insurance rates
The easiest method to snag good car insurance rates for drivers age 25 and younger is to be a safe driver and not get tickets or have accidents. The example below demonstrates how traffic citations and accidents influence car insurance costs for different age groups. The premiums are based on a single female driver, full coverage, $1,000 deductibles, and no additional discounts are factored in.
In the example above, the average cost of a car insurance policy in Tulsa per year with a clean driving record and no accidents is $1,792. Factor in one speeding ticket and the average cost rises to $2,035, an increase of $243 each year. Now throw in two accidents along with the one speeding ticket and the yearly cost of car insurance for drivers under 25 increases to an average of $4,310. That’s an increase of $2,518, or $210 per month, just for being a less-than-perfect driver!
Tulsa car insurance rates
Oklahoma car insurance rates are based on many factors which can significantly increase or decrease the price of your policy. Improving your credit rating, buying a home, or having an accident can trigger rate changes that can cause some rates to be cheaper than before. Not only may your situation change, but auto insurance companies file new Oklahoma car insurance rates every year or even multiple times each year to adjust for heavy claims or excess profits. Unexpectedly high claims can result in increased policy costs, while a better loss history can cause lower-priced Tulsa car insurance rates.
To illustrate this point, the chart below shows the companies that have the cheapest car insurance in Tulsa, OK for a 35-year-old female driver with no prior accidents, a clean driving record, and great credit. If we compare prices based on her current risk profile, Oklahoma Farmers Union quotes the best car insurance rates in Tulsa at $1,398 each year. This is $569 less than the average rate paid by Oklahoma drivers of $1,967. USAA, GEICO, The Hartford, and Safe Auto are also on the list of the top five cheapest Tulsa, OK auto insurance companies.
Now let’s give the driver in the first chart a chargeable accident, poor credit, and a few blemishes on her driving record. Due to the fact that each insurance company has their own formula to set policy rates, comparing prices may now present a substantially altered list of cheap Tulsa auto insurance companies as shown below.
State Farm now has the cheapest auto insurance in Tulsa with USAA, GEICO, Liberty Mutual, and The Hartford also being competitive. This illustrates why it is important to perform an extensive rate comparison when trying to get the best car insurance rates for drivers under 25.
Prices are made up of many risk factors and can change substantially, so the most economical company the last time you shopped your coverage around may now not even be in the top five.
The Tulsa car insurance agencies listed below are willing to aid you in deciding which coverages you need, as many consumers aren’t sure which coverage to buy and prefer to have the advice of a professional agent when shopping for the best coverage for drivers age 25 and younger. It’s not always easy to find the best policy on your own, so getting professional guidance from a licensed agent can bring satisfaction knowing your policy gives you sufficient coverage at claim time. To locate a Tulsa insurance agent nearest to you, click the button after the list.
Hometown Insurance Agency Inc
8282 S Memorial Dr #201 – Tulsa, OK 74133 – (918) 366-9999
Allstate Insurance: Mike De Marco
5800 S Lewis Ave Ste 149 – Tulsa, OK 74105 – (918) 749-1300
Ken Shoemaker – State Farm Insurance Agent
10115 S Sheridan Rd d – Tulsa, OK 74133 – (918) 299-9995
Cheapest Auto Insurance
2646 E 15th St – Tulsa, OK 74104 – (918) 744-5145
How to find the cheapest car insurance for drivers under 25
The list below summarizes some money-saving ideas that can help Oklahoma drivers quote more affordable coverage.
- Avoid filing excessive claims
- Safer vehicles generally have cheaper insurance rates
- Good credit scores may lower your rates
- Having at-fault accidents will increase rates
- Avoid speeding and other traffic citations and pay less
- Shop around and save
The final tip is remarkably important, as we hit on in the prior article. Prices charged by companies in Tulsa can be modified anytime, so drivers shouldn’t be reluctant to change insurance companies if a more affordable rate is found. Having a favorite company is fine, but it isn’t a good idea if that loyalty results in overpaying potentially thousands of dollars a year. In just a couple of minutes you could compare prices and find cheaper car insurance for drivers under 25.