In 2017 the average auto insurance rate in Oklahoma landed the state in the 11th position overall in the nation. That means rates are higher than the national average, and that finding a good price on car insurance will take some effort. Before jumping on a cheap rate, however, it is important to make sure you know how the company stacks up on more than just price.
The Basics of Auto Insurance in Oklahoma
Oklahoma’s car insurance laws are similar to those in other states, with all drivers legally required to carry a minimum amount of liability coverage in order to ensure financial responsibility in the event of an accident.
The state’s minimum limits are $25,000 per person and $50,000 per incident for bodily injury, with $25,000 or property damage coverage. These numbers place the state in the average range for basic liability limits.
Unlike other states, however, Oklahoma has no additional requirements for car insurance; drivers need only carry the above coverage to be on the road legally. That does not mean you don’t need more coverage.
If you have a loan or lease, you will likely need to carry comprehensive coverage and collision coverage (often called full coverage) on your policy as well in order to meet your lender’s requirements. Some agreements also stipulate how high the deductibles can be and even in some cases a requirement for higher liability limits than the legal minimum. Make sure to verify what you need to carry with the lender.
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Specifics of Oklahoma Auto Insurance
While Oklahoma has no specific laws that make it stand out from other states in terms of insurance, it is important to know how issues of fault and liability are handled.
Oklahoma is a tort state, which means that a driver found to be at fault in an accident can be held financially responsible for damages that include medical bills and property damage. Oklahoma does use a comparative negligence system, which means that fault between two parties can range from 0%/100% to 50%/50% or anywhere in between. Car insurance companies will determine fault and pay out claims accordingly, although in some situations disagreements may occur regarding the percentage of fault applied.
Car insurance companies will only pay out up to the limits of the policy; any amount that exceeds those limits will be the responsibility of the driver at fault. That means carrying higher limits can protect you from a serious financial situation.
The best car insurance for Oklahoma drivers is a policy provided by a company with a solid reputation. That means that they have great customer service and also handle claims fairly and quickly. We looked at trusted consumer reports rating car insurance companies as well as reviews left online by those companies’ policyholders. Only companies that meet our standards for customer service made the list.
While our focus is always on choosing companies with a good reputation, it is also important that they provide their policies at a reasonable price. We looked at the companies with great ratings and chose those that also provide a good value. That means they have solid policy offerings and can provide more than just the basics while still keeping premiums competitive.
All of our choices for Oklahoma reflect the needs of residents across the state; this means you can get a policy from the company whether you live in the city or in a more rural location. We chose only companies that provide coverage to the general public in order to make certain our picks are useful to the majority of people. That leaves off some choices that might be right for those who qualify; USAA is always a good pick for military families.
Our Top Picks
These are the three companies that best met our standards for both great customer service and a competitive price.
State Farm is far and away one of the best values in car insurance for Oklahoma residents. They are the largest provider of car insurance in the entire country, and they come highly rated for customer service and claims handling.
State Farm also has some of the best prices across the board for Oklahoma drivers. Whatever your situation, State Farm can likely come up with a very competitive quote. Add in their hefty bundling discount and insuring both car and home here can save you a lot of money.
With the highest rating in the region form J.D. Power, Shelter’s reputation is one that can be relied upon. They earned the top spot with near-perfect scores in most areas, and an overall 5 out of 5.
Shelter also offer affordable rates for most Oklahoma drivers; they even rank well for younger drivers and those with poor credit. That makes this company a great value and a top pick.
The second biggest insurance company in the country, GEICO is well known for being a great choice for drivers on a budget. That holds true for Oklahoma as well, where they have excellent policies and prices too.
GEICO also earned a place in the top five insurance companies in the region on J.D. Power’s survey, and the company has built a great reputation on making buying insurance easy and handling of claims even easier. For many drivers, GEICO’s value cannot be beaten.
Shopping for Car Insurance in Oklahoma
When you live in a state with relatively high insurance costs, shopping around is vital. There are a lot of great insurance companies offering coverage in Oklahoma and comparing as many of them as possible will help you to find the right fit.
One of the biggest mistakes when shopping for car insurance is to be unsure of what kind of coverage you need and want to purchase. When you allow the insurance company to choose limits and deductibles as well as your options, you wind up with policies that are widely varied and cannot be compared with any sort of accuracy. Before you shop, decide on the liability limits you want and your deductible amounts; then make sure you request that every quote match those limits. That way you can be sure you have a fair comparison on your hands.
Oklahoma is a big state, and the area where you live can have a big impact on your rates. The company that has the best deal for one driver may not even come close for another. That means you do need to take the time to compare. Check in with a local agent who can provide you with multiple quotes from local insurance companies, and then compare them to those you can obtain online from the big names. It is often surprising, but sometimes small companies can offer great value even when compared to a national insurer.
The Bottom Line
Among the top picks in Oklahoma are the two biggest insurance companies in the country – and getting quotes from those top picks is a great place to start. For most drivers, one of those three is likely to be a good fit, but it is always a good idea to look at as many companies as you can so you will have peace of mind that you got the best deal around.
For a list of companies that we recommend, visit our Best Insurance Companies page.