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GEICO offers the cheapest car insurance in Oklahoma, according to a QuoteWizard survey of companies that write auto policies in the Sooner State.
Our data shows that Oklahoma drivers pay $368 per year, on average, when they buy the minimum amount of car insurance the state requires from GEICO. And they pay an average of $722 per year for a full-coverage policy when they purchase it from the same insurer.
Those rates are a lot cheaper than what a typical driver in Oklahoma pays for auto insurance. Based on our research, the average driver in this state spends $662 per year on minimum coverage and $1,363 per year on full coverage.
Other insurance companies also provide affordable car insurance to Oklahomans. American Farmers & Ranchers and USAA are two noteworthy examples, as you’ll learn in this article.
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GEICO is the best option for cheap state-minimum car insurance in Oklahoma, with a $368 average annual premium. It is the best option for cheap full-coverage car insurance in the state, too, with a $722 average annual premium.
These average annual premiums are based on rate quotes gathered from Oklahoma insurers for a typical driver.
A number of other insurers also offer affordable auto insurance in Oklahoma, according to our data. For instance, USAA’s average rate quote of $392 per year for a state-minimum policy was only $2 per month more than what GEICO offered for the same amount of coverage.
The average rate quote American Farmers & Ranchers offered our sample driver for minimum coverage was just $4 per month more than GEICO’s average offer.
American Farmers & Ranchers and USAA offered our sample Oklahoma driver low-cost full-coverage car insurance, too.
Specifically, the average rate quote American Farmers & Ranchers provided for full-coverage auto insurance was around $15 per month more than what GEICO provided. Still, that figure is about $39 per month cheaper than the state average for such a policy — which usually includes liability, collision and comprehensive coverage.
USAA’s average rate quote of $911 per year for full coverage was nearly $16 per month more than GEICO’s average rate quote, but $38 per month lower than the state average.
American Farmers & Ranchers, GEICO and USAA offer the best car insurance rates in Oklahoma, based on our research.
GEICO offered our sample driver the cheapest rates for both state-minimum and full-coverage policies. That makes it the best auto insurance company in Oklahoma, in our estimation.
GEICO’s average premium of $368 per year for a state-minimum policy is $294 per year cheaper than the average cost in Oklahoma for this amount of car insurance coverage. That’s a difference of $24.50 per month.
GEICO also offered an average premium of $722 per year for a full-coverage policy. This is $641 per year, or $53 per month, lower than the state average.
American Farmers & Ranchers offers cheap full-coverage auto insurance in Oklahoma, too.
It offered our typical driver an average premium of $898 per year. That is $465 per year lower than the state average for this amount of coverage. The monthly difference between the two in this case: $38.75.
USAA is another good option for cheap state-minimum car insurance in Oklahoma. The average annual premium of $392 it offered our sample driver is $270 per year, or $22.50 per month, cheaper than the state average for this type of policy.
USAA also offered our sample Oklahoma driver an affordable rate for full-coverage car insurance. Its average premium of $911 per year is $452 per year cheaper than the state average for such coverage.
State Farm is the most popular car insurance company in Oklahoma, according to data from S&P Global. It writes 24% of the state’s auto policies.
GEICO, our pick for best car insurance rates in Oklahoma, is fourth in terms of market share. It writes 8% of the state’s policies.
|Insurance company||Oklahoma market share|
|Oklahoma Farm Bureau||4%|
|American Farmers & Ranchers||3%|
|Source: S&P Global|
Our runner-up for cheap minimum car insurance in Oklahoma, USAA, writes 7% of the state’s auto coverage. That’s good enough for it to the sixth-largest insurer here by market share.
As for American Farmers & Ranchers, our runner-up for cheap full-coverage car insurance, it is the 10th-largest auto insurer in Oklahoma by market share, writing 3% of the state’s policies.
State law requires Oklahoma drivers to carry a minimum of 25/50/25 liability car insurance coverage. This means all auto policies must include at least:
We conducted a comprehensive study of auto insurance rates in Oklahoma through Quadrant Information Services. The quotes we collected were for a single, 35-year-old male who has an excellent credit score and a clean driving record. He owns a 2012 Honda Accord and drives it an average of 15,000 miles a year. His car insurance policy has 100/300/50 coverage limits and a $1,000 deductible, where applicable.
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