How Much is Car Insurance for Drivers with Bad Credit in Tulsa?

The words “cheap” and “insurance” probably shouldn’t be used together, specifically when trying to find the lowest insurance rates for drivers with bad credit. Because of the high cost, let’s introduce you to some situations that influence car insurance premiums, and find out if we can help you slash the price of the next policy you buy.

Comparing quotes for cost effective car insurance is not the easiest thing to accomplish, and figuring out which companies offer the best auto insurance rates for drivers with bad credit may require even more work. Every insurance provider uses their own formula for establishing rates, so let’s begin by examining the auto insurance companies that tend to be cheaper in Tulsa.

It’s important to know that Tulsa, OK auto insurance rates are based on many factors which can substantially decrease or increase the price of coverage. Improving your credit score, buying a different vehicle, or having an at-fault accident can trigger rate changes that may make certain companies more expensive than others.

Best Car Insurance Prices with Bad Credit

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Cheapest auto insurance in Oklahoma ranked by cost per year
Rank Company Cost Per Year
1 Oklahoma Farmers Union $1,166
2 USAA $1,196
3 The Hartford $1,373
4 GEICO $1,381
5 Farmers $1,394
6 Safe Auto $1,419
7 State Farm $1,536
8 Travelers $1,849
9 Liberty Mutual $1,871
10 Mercury $2,033
11 OK Farm Bureau $2,079
12 MetLife $2,169
13 Shelter $2,173
14 Progressive $2,179
15 Home State $2,193
16 Allstate $2,448
17 Safeco $5,209
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Oklahoma Farmers Union quotes some of the most affordable car insurance rates in Tulsa at around $1,166 annually. This is $801 less than the average rate paid by Oklahoma drivers of $1,967. USAA, The Hartford, GEICO, and Farmers also make the cut as some of the best Tulsa, OK auto insurance companies.

In the above example, if you are a policyholder with USAA and switched to Oklahoma Farmers Union, you could earn a yearly price reduction of roughly $30. Policyholders with The Hartford might save as much as $207 a year, and GEICO policyholders might reduce prices by as much as $215 a year.

Bear in mind that those premiums are averages for all drivers and vehicles and and are not figured with an exact location for drivers with bad credit. So the company that fits your age and vehicle best may not even be in the list above. That helps illustrate why you need to compare prices as often as possible using your own personal information and vehicle type.

For people with poor credit, one of the largest things that determine the amount you pay each year for auto insurance is where you call home in Tulsa. Areas with high crime rates or more dense population tend to have higher auto insurance costs, whereas more rural areas benefit from lower rates.

The information below shows the most expensive places in Oklahoma for drivers with bad credit to purchase a policy in. Tulsa ranks #1 with an annual rate of $2,282 on average, which is approximately $190 each month.

How much is car insurance in Tulsa?
Rank City Annual Premium
1 Tulsa $2,282
2 Oklahoma City $2,199
3 Broken Arrow $2,195
4 Sand Springs $2,161
5 Del City $2,155
6 Bixby $2,147
7 Bethany $2,135
8 Owasso $2,127
9 Midwest City $2,119
10 Edmond $2,105
11 Norman $2,095
12 Moore $2,090
13 Sapulpa $2,081
14 Yukon $2,076
15 Claremore $1,987
16 Bartlesville $1,981
17 Stillwater $1,970
18 Shawnee $1,968
19 Enid $1,942
20 Ardmore $1,936
21 Ponca City $1,918
22 Muskogee $1,905
23 Duncan $1,866
24 Lawton $1,865
25 Altus $1,820
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Annual rates are approximated as the specific garaging location can impact rates considerably.

Do you need full coverage?

Buying cheaper auto insurance is the goal of the majority of people, and one good way to save on the cost of insurance for drivers with bad credit is to buy liability only. The example below compares insurance prices with full coverage and liability only. The data is based on no driving violations, no at-fault accidents, $500 deductibles, single status, and no policy discounts are applied.

On average, physical damage insurance costs $2,308 per year more than carrying just liability coverage. That may make you wonder if you should buy full coverage at all. There is no clear-cut rule to exclude comp and collision coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than 10% of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.

Insuring your vehicle with a high-quality car insurance provider can be rather challenging considering how many companies there are in Tulsa. The ranking data listed below could help you choose which companies to look at when trying to find the cheapest insurance for drivers with bad credit. These rankings only include companies with a nationwide focus, so companies that have a smaller presence are not taken into consideration for the list.

Top 10 Major Auto Insurance Companies in Tulsa Ranked by Customer Satisfaction

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Mercury Insurance – 89%
  5. Nationwide – 89%
  6. Travelers – 88%
  7. Progressive – 88%
  8. Safeco Insurance – 88%
  9. State Farm – 88%
  10. Allstate – 88%

Don’t make the mistake of not shopping around

Tulsa auto insurance rates are impacted by many factors that can increase the policy price. Improving your credit score, buying a new vehicle, or getting into an accident can cause premium changes that may make certain companies cheaper than others. Also, insurers change their prices as often as every quarter in order to offset underwriting gains or losses. An unexpected high level of claims can cause higher rates, while profitable underwriting may result in cheaper Tulsa car insurance rates.

The bar chart below shows rates for the cheapest car insurance in Tulsa, OK for a 45-year-old female driver with a clean driving record, no accidents, and a good credit rating. Based on her current risk factors, USAA might quote the best car insurance rates in Tulsa at $1,385 each year. This is $582 less than the average policy premium paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, GEICO, and Farmers are the remaining best Tulsa, OK auto insurance companies.

In the next rate comparison, we’ll give the driver from above an at-fault accident, a lower credit rating, and a traffic citation. Because each company has their own unique process to determining premium rates, analyzing rate quotes most likely will result in a completely different list of the cheapest car insurance companies in Tulsa as shown below.

State Farm now has the cheapest insurance rate in Tulsa with Oklahoma Farmers Union, Liberty Mutual, The Hartford, and Travelers also being competitive. This example shows why it is important to perform an extensive rate comparison to get cheap car insurance quotes for drivers with bad credit. Insurance prices can be determined by many risk factors and can change substantially, so the most economical option three years ago may now not even be in the top five.