The words “low-priced” and “insurance” really shouldn’t be used together, in particular when you are shopping around for the best car insurance for 20 year old guys. To help control this cost, let’s familiarize you with some of the things that significantly impact auto insurance rates, and figure out some ways to take the sting out of your next policy.
For young men, one of the big considerations that are used to help calculate the annual cost of car insurance is where you live. Cities with larger populations are more likely to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower prices.
The information below rates the highest-priced places in Oklahoma for 20 year old guys to purchase car insurance in. Tulsa shows up at #1 with a yearly premium of $2,259 for coverage, which is around $188 monthly.
|Rank||City||Average Per Year|
|Find Cheaper Rates Go|
Rate information is approximated as vehicle location can modify rates greatly.
Figuring out which companies have the cheapest car insurance rates for 20 year old guys will require a little more sweat in order to find the best policy. Each auto insurer has their own process to determine premium rates, so let’s take a look at the car insurance companies that tend to have lower prices in Oklahoma.
It’s a good idea to know that Oklahoma car insurance rates are influenced by many factors that may substantially change the cost of coverage. Simply improving your credit, adding a teenager to your policy, or getting a ticket for careless driving can produce rate changes resulting in some rates now being much cheaper than others.
Find the Best Cheap Insurance for Men Age 20
USAA generally has some of the lowest car insurance rates in Tulsa at around $1,161 each year. Oklahoma Farmers Union, GEICO, The Hartford, and Safe Auto also rank well as some of the more affordable Tulsa, OK insurance companies.
As illustrated above, if you currently buy coverage from The Hartford and switched to Oklahoma Farmers Union, you may realize savings of about $171. Policyholders with Safe Auto might save as much as $175 a year, and Farmers policyholders might see rate reductions of $192 a year.
It’s important to note that these premiums are averaged for all drivers and vehicles and and are not calculated with a specific location for 20 year old guys. So the company that is best for you may not even be 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.
The vehicle on the policy is probably the largest consideration that determines if you can find the cheapest auto insurance for 20 year old guys. Vehicles with high performance engines, a lack of advanced safety features, or a history of substantial liability claims will cost quite a bit more to insure than more economical and safe models.
The list below features insurance costs for a handful of the most economical vehicles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX 4WD||$3,129|
|Ford Escape Limited 4WD||$3,358|
|Ford F-150 STX Super Cab 2WD||$3,382|
|Ford Explorer Eddie Bauer 2WD||$3,429|
|Jeep Wrangler Rubicon 4WD 2-Dr||$3,437|
|Volkswagen Jetta 2.0T Station Wagon||$3,631|
|Chevrolet Malibu Hybrid||$3,658|
|Toyota RAV4 Sport 2WD||$3,668|
|Chevrolet Impala LT||$3,658|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$3,702|
|Dodge Grand Caravan Crew||$3,710|
|Ford Focus SEL 4-Dr Sedan||$3,840|
|Find Cheaper Rates Go|
Data rating is based on single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in specific zip code location which can alter premium rates considerably.
Based upon the rates shown, you can assume that models like the Honda CR-V, Ford Escape, Ford F-150, and Toyota Prius are going to be some of the cheaper vehicles to insure for young men. Car insurance rates will trend higher just due to the fact that there is more risk for 20 year old guys, but generally speaking those particular vehicles will tend to have the cheapest car insurance rates compared to all other vehicles.
Discount Tulsa insurance
Insurance companies that offer quotes for 20 year old guys may additionally offer price discounts that could lower prices by 25% or more if you meet specific eligibility requirements. A few popular companies and some of the premium reductions they offer are shown below.
- Progressive offers discounts including multi-policy, homeowner, online quote discount, continuous coverage, and good student.
- Farmers Insurance offers discounts for homeowner, bundle discounts, alternative fuel, early shopping, pay in full, and teen driver.
- Farm Bureau has savings for good student, youthful driver, 55 and retired, renewal discount, multi-policy, multi-vehicle, and driver training.
- State Farm discounts include good driver, defensive driving training, Drive Safe & Save, safe vehicle, driver’s education, student away at school, and accident-free.
- GEICO may offer discounts for membership and employees, defensive driver, multi-policy, five-year accident-free, multi-vehicle, emergency military deployment, and seat belt use.
- SAFECO offers premium reductions for drive less, homeowner, safe driver, teen safe driver, and accident prevention training.
- Liberty Mutual may include discounts for new vehicle discount, multi-policy, teen driver discount, newly married, and newly retired.
The information below compares insurance premiums with and without discounts applied. Data assumes a male driver, no claims or violations, Oklahoma state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with anti-theft, vehicle safety, passive restraint, paid-in-full, good student, and continuous coverage discounts applied. When these discounts are applied, the average savings per year on car insurance for 20 year old guys is 18% or $472.
Full coverage rates compared to liability only
Buying cheaper car insurance is the goal of most vehicle owners, and one of the fastest ways to reduce the cost of insurance for 20 year old guys is to buy liability only. The example below illustrates the comparison of car insurance costs with and without full coverage. The information is based on no claims or driving violations, $1,000 deductibles, marital status is single, and no additional discounts are factored in.
If we average all the age groups together, comp and collision coverage costs $2,538 per year more than just buying liability insurance. That raises the question if physical damage coverage is worth the money. There is no written rule to exclude comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost of full coverage is more than 10% of replacement cost minus your deductible, then it might be time to buy liability only.
The chart below demonstrates how deductible levels can affect insurance costs when researching cheap insurance for 20 year old guys. The premium estimates are based on a single male driver, comp and collision included, and no discounts are factored in.
A 50-year-old driver could pocket $440 a year by switching from a $100 deductible up to a $500 deductible, or save $666 by changing to a $1,000 deductible. Young drivers, such as the 20-year-old chart data, have the ability to save $1,456 every year just by using higher deductibles. If you do raise deductibles, it will be required to have emergency funds available to satisfy the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
If you wish to get some professional input when comparing insurance rates for 20 year old guys, the insurance agencies below can help you decide which coverages and limits you need.
To locate a Tulsa insurance agent using an interactive map, click the button at the bottom or click here to compare price quotes now.
- Charles G. Harris Insurance
4724 S Union Ave – Tulsa, OK 74107 – (918) 446-4421
- Jimmie A Neely Insurance
4444 E 66th St – Tulsa, OK 74136 – (918) 494-0600
- State Farm: Ron Lockney
2828 E 91st St – Tulsa, OK 74137 – (918) 298-5444
How to find low-cost insurance for 20 year old guys
It is possible to find better rates, and here are some of the better thrifty ideas that can help Tulsa drivers buy lower-cost coverage.
- Good credit can help you save money
- Avoid filing excessive claims
- Full coverage may not be needed on older vehicles
- Safer vehicles cost less to insure
- Buying your home and auto policies from the same company can earn a discount
- Increase your policy deductibles
- Compare rates regularly and switch companies to save money
That last idea is remarkably significant, as we emphasized in this piece. Coverage rates can be changed at any time, so don’t hesitate to switch companies if a more affordable rate is found.
Staying with the same company for years is fine, but it’s not a good idea if that devotion results in you overpaying a lot of money every month. Take a few minutes and compare prices to find cheaper car insurance for 20 year old guys in Tulsa.