Buying the best cheap auto insurance for a Hyundai Elantra in Oklahoma doesn’t take a lot of effort, but it depends on a lot of different factors such as how you use your Elantra, the likelihood of your vehicle being stolen, and any driving offenses on your record. Drivers in Oklahoma will pay around $1,005 annually for Elantra insurance, but that price is a valuation using a 50-year-old single female driver with full comprehensive and collision coverage and $1,000 deductibles.
The issue with using an average estimated rate is the likelihood you are not 50 and maybe not even a female, maybe you are married instead of single, or maybe you have a speeding ticket or two that will increase rates. This shows why the best method for finding cheap insurance rates for your Hyundai is to do the rate comparisons yourself. It only takes a couple of minutes and you will receive price comparisons from the best auto insurance companies in Oklahoma.
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The trim level of your vehicle will likely have an effect on the cost of coverage, so the price you pay to insure a Elantra GLS Touring Station Wagon trim level will be $88 cheaper than the cost to insure the more costly Elantra SE Touring Station Wagon model, as shown below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Elantra GLS Touring Station Wagon | $160 | $296 | $430 | $26 | $128 | $1,040 | $87 |
| Elantra Blue 4-Dr Sedan | $160 | $424 | $506 | $30 | $152 | $1,272 | $106 |
| Elantra GLS 4-Dr Sedan | $184 | $424 | $506 | $30 | $152 | $1,296 | $108 |
| Elantra SE 4-Dr Sedan | $184 | $424 | $506 | $30 | $152 | $1,296 | $108 |
| Elantra SE Touring Station Wagon | $184 | $360 | $430 | $26 | $128 | $1,128 | $94 |
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Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Rates do not factor in your specific Tulsa location which can modify premiums substantially.
Finding out which companies offer the best insurance rates for a Hyundai Elantra calls for a little more effort than just comparing a company or two. Every car insurance company used slightly different criteria for setting rates, so let’s take a look at the most budget-friendly insurance companies in Oklahoma.
It’s important that you understand Tulsa, OK insurance rates are influenced by many factors that can increase the cost of a policy. Simply getting older, buying a home, or getting a DUI can cause premium changes that may make certain companies more affordable than before.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,150 |
| 2 | Oklahoma Farmers Union | $1,154 |
| 3 | GEICO | $1,353 |
| 4 | Safe Auto | $1,363 |
| 5 | The Hartford | $1,373 |
| 6 | Farmers | $1,422 |
| 7 | State Farm | $1,521 |
| 8 | Liberty Mutual | $1,797 |
| 9 | Travelers | $1,925 |
| 10 | Mercury | $1,973 |
| 11 | OK Farm Bureau | $2,018 |
| 12 | Shelter | $2,108 |
| 13 | Home State | $2,128 |
| 14 | Progressive | $2,223 |
| 15 | MetLife | $2,235 |
| 16 | Allstate | $2,376 |
| 17 | Safeco | $5,056 |
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USAA may offer some of the best car insurance rates in Tulsa at around $1,150 per year. Oklahoma Farmers Union, GEICO, Safe Auto, and The Hartford would also be considered some of the cheaper Tulsa, OK auto insurance companies.
As the example above demonstrates, if you currently have coverage with Oklahoma Farmers Union and switched to USAA, you could see savings of about $4. Policyholders with GEICO may save as much as $203 a year, and Safe Auto policyholders might reduce prices by as much as $213 a year.
Be aware that those rates are averages for all ages of drivers and types of vehicles and and are not calculated with an exact zip code location for a Hyundai Elantra. So the auto insurance company that fits your situation best may not even be in the list above. That emphasizes why you need to get auto insurance quotes using your own specific driver and vehicle information.
How accidents and violations affect rates
The obvious way to get the best insurance premiums for an Elantra is to drive carefully and not have accidents or get tickets. The chart below illustrates how speeding tickets and at-fault fender-benders can increase auto insurance costs for different insured age categories. The price estimates are based on a married male driver, comp and collision included, $100 deductibles, and no policy discounts are applied.
The chart shows that the average cost of auto insurance in Oklahoma per year with no accidents and a clean driving record is $2,791. Receive one speeding ticket and the average cost hikes up to $3,203, an increase of $412 each year. Now get one accident along with the one speeding ticket and the 12-month cost of insurance for a Hyundai Elantra goes up to an average of $4,391. That’s an increase of $1,599, or $133 per month, just for not maintaining a clean driving record!
Price comparison of only insuring for liability
Finding cheaper insurance is probably important to most drivers, and one good way to buy cheap insurance for a Hyundai Elantra is to buy liability only. The information below compares insurance costs with full physical damage coverage and with liability coverage only. The data is based on no violations or claims, $1,000 deductibles, single status, and no other discounts are factored in.
If we average all the age groups together, physical damage insurance costs an extra $2,033 per year more than just buying liability only. Many of you may wonder if buying full coverage is worth the money. There is no definitive guideline of when to eliminate physical damage coverage on your policy, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s pretend your vehicle’s claim settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $8,000 after paying the physical damage deductible. If premiums are more than $800 a year for full coverage, then you might want to consider buying only liability coverage.
The illustration below illustrates how your deductible choice can increase or decrease insurance costs when quoting cheap insurance for a Hyundai Elantra. The premiums assume a single female driver, full coverage, and no additional discounts are factored in.
In the chart above, a 40-year-old driver could pocket $426 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $644 by choosing a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could potentially save up to $1,082 annually just by using higher deductibles. When insureds make the decision to increase the deductibles on their policy, it is essential to have additional funds in a savings account to allow you to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.