Rates in Oklahoma are somewhat higher than the national average. In 2011, the average annual car insurance premium for the state is $1,562, compared to $1,440 nationwide.
Annual Changes
Premiums in Oklahoma decreased 13% for 2011,and this followed a 10% decrease between 2009 and 2010. In Oklahoma, auto insurance companies are free to set their own rates and there is no state or industry price fixing. Rates often change even during a single year, and drivers are advised to check Oklahoma car insurance rates on our site in order to obtain and maintain the best possible price.
Seasonal Changes
While average premiums were basically stable until the summer, they rose sharply in July before falling to new lows in August, September, and October 2010. Premiums then climbed again in November and December before leveling off for 2011. Rate changes in Oklahoma can occur at any time of year, and getting the best prices is therefore a matter of monitoring and responding to changing rates.
Insurance Requirements
Minimum insurance requirements in Oklahoma include personal liability coverage of $25,000 per person/$50,000 per accident and a $25,000 property damage liability limit. However, Oklahoma works under a tort system, where one party must be judged responsible for any accident. That party is then held liable for the entire cost of the accident. Higher limits are therefore recommended to protect assets in the event of a lawsuit. Coverage to protect against damage caused by an uninsured or under-insured driver is available in Oklahoma and it is usually recommended, especially because the minimum state requirements are so low.
Rates in Oklahoma are somewhat higher than the national average. In 2011, the average annual car insurance premium for the state is $1,562, compared to $1,440 nationwide.
Annual Changes
Premiums in Oklahoma decreased 13% for 2011,and this followed a 10% decrease between 2009 and 2010. In Oklahoma, auto insurance companies are free to set their own rates and there is no state or industry price fixing. Rates often change even during a single year, and drivers are advised to check Oklahoma car insurance rates on our site in order to obtain and maintain the best possible price.
Seasonal Changes
While average premiums were basically stable until the summer, they rose sharply in July before falling to new lows in August, September, and October 2010. Premiums then climbed again in November and December before leveling off for 2011. Rate changes in Oklahoma can occur at any time of year, and getting the best prices is therefore a matter of monitoring and responding to changing rates.
Insurance Requirements
Minimum insurance requirements in Oklahoma include personal liability coverage of $25,000 per person/$50,000 per accident and a $25,000 property damage liability limit. However, Oklahoma works under a tort system, where one party must be judged responsible for any accident. That party is then held liable for the entire cost of the accident. Higher limits are therefore recommended to protect assets in the event of a lawsuit. Coverage to protect against damage caused by an uninsured or under-insured driver is available in Oklahoma and it is usually recommended, especially because the minimum state requirements are so low.
Advice for Getting the Best Deals
Major national and regional insurers compete on the Oklahoma auto insurance market. Since each company uses different criteria to determine their premiums for each driver, no one company or type of company can be said to offer the lowest rates. Experts recommend obtaining multiple quotes from reliable insurance companies which are rated A or higher by A. M. Best. It is also advised to check the J. D. Power ratings for consumer service related information.
Oklahoma drivers are urged to return to our site frequently in order to keep track of changing rates and request multiple quotes so they can get the best possible prices.
