Best car insurance in Oklahoma for 2024

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Nearly every state requires drivers to have at least minimum liability insurance. Most insurance experts recommend carrying more than the minimum requirement for a greater level of financial protection. Oklahoma requires drivers to carry a baseline amount of liability coverage. That liability coverage must be at least $25,000 in bodily injury liability per person, $50,000 total bodily injury liability per accident and $25,000 of property damage liability. Insurers are also required to offer you uninsured/underinsured motorist coverage, but this can be rejected in writing.

If you have a car loan or lease, you may need to have more than the minimum amount of insurance coverage. Lenders and lienholders often require full coverage insurance for financed or leased vehicles. If the car is involved in an accident, they want to be sure funds are available to repair or replace it. Gap insurance, a coverage type that pays the difference between what the car is worth and what you owe on it, may be required. However, even without a requirement, drivers may want to consider the coverage to avoid having to make up the difference out of pocket.

The best car insurance company will depend on your circumstances and coverage needs. For example, if you're concerned about a future accident impacting your premium, you could consider looking for a car insurance company that offers accident forgiveness. If you’re adding a teen driver to your car insurance policy, you may want to search for a car insurance company with competitive student discounts. Every insurer offers a slightly different range of endorsement options and discounts, so shopping around may save you money and earn you a policy that is better suited to your situation.

No single company always offers the cheapest rate to everyone, all the time. One way to find the best price for your needs is to ask for quotes from a range of carriers. This is simple and easy to do, and many insurers allow you to request a quote merely by answering a few questions on their website. You may want to start your search with the list of companies that we have determined frequently offer low rates to Oklahoma drivers. Make sure you are asking each company for the same types and levels of coverage so you can do a valid comparison of their rates.

Oklahoma requirements for car insurance include bodily injury liability coverage of at least $25,000 per person and $50,000 per accident. In addition, you will need to have at least $25,000 in property damage liability coverage. Your insurer is also required by law to offer you uninsured/underinsured motorist coverage, though you may decline this in writing. Although these coverage levels will fulfill your legal requirement, if you have a car loan or lease, your lender may require you to have full coverage.

The average cost of full coverage car insurance in Oklahoma is $2,631 per year, or roughly $219 per month. However, your car insurance rates will be based on a number of rating factors and may vary from the average. The best way to know if you’re getting a competitive price on your car insurance could be to shop around and request quotes from multiple insurance companies.

While insurance costs can vary based on numerous factors, average Oklahoma car insurance rates are fairly reasonable. Drivers pay $558 per year for minimum coverage and $2,631 per year for full coverage, on average. Full coverage rates in Oklahoma are comparable to the national average of $2,458 while minimum coverage is 18 percent less than the national average of $678.