Rachel Bodine graduated from college with a BA in English. She has since worked as a Feature Writer in the insurance industry and gained a deep knowledge of state and countrywide insurance laws and rates. Her research and writing focus on helping readers understand their insurance coverage and how to find savings. Her expert advice on insurance has been featured on sites like PhotoEnforced, All...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insurance...

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Reviewed by Leslie Kasperowicz
Former Farmers Insurance CSR

UPDATED: Nov 12, 2020

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Oklahoma State FlagKnown as the “Sooner State”, Oklahoma was the 46th state to enter the Union and is currently the one of the fastest growing economies in the nation. The state has been experiencing rapid gross domestic product growth, thanks to becoming a major producer of energy, through natural gas and oil, and also high tech industries such as biotechnology. As the 20th largest state, Oklahoma has its fair share of roads, and where there are cars, there’s the need for auto insurance. Below we’ll take a brief look at Oklahoma’s auto insurance laws, requirements, and how drivers can get the most from their insurance.

Oklahoma Auto Insurance Laws And Requirements

In Oklahoma, the state liability coverage minimums are:

  • Bodily Injury Liability Coverage – $25,000 per person
  • Bodily Injury Liability Coverage – $50,000 per accident
  • Property Damage Liability Coverage – $25,000 per accident

Take a look at how Oklahoma’s minimum rates compare with surrounding states.

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Optional coverage options in Oklahoma include:

  • Comprehensive Coverage
  • Collision Coverage
  • Medical Payments Coverage
  • Rental Car Reimbursement Coverage
  • Uninsured/Underinsured Motorist Coverage

Lawmakers in Oklahoma decided to have the state follow along with many others and use the “tort” system of auto insurance. This system dictates that in an accident, one of the parties must be considered to have caused the accident, and they are labeled the “at fault” party. This person’s auto insurance is then subject to covering the wide range of costs that come with being in an automobile accident, including medical treatment and damage caused.

State law requires that all of Oklahoma’s drivers purchase insurance for their vehicles. There are two different areas in which minimum amounts of coverage are legally required. The first is for “Bodily Injury Liability” insurance; this is the insurance that covers the medical treatment, lost wages, and rehab costs for the other drivers or pedestrians when you cause a crash or are labeled the “at fault” party in an accident. Drivers must purchase a minimum policy covering $25,000 per person, per accident and $50,000 for all parties in a single accident.

The other type of mandated auto insurance coverage is known as “Property Damage Liability” insurance. This policy covers the “at fault” driver for any property damage that they cause in the crash. For instance, if a driver was to veer off of the road and crash in to a parked car, this insurance policy would cover the repair costs. State law requires that drivers purchase no less than $25,000 of Property Damage Liability insurance coverage.

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Oklahoma Auto Insurance Rates

While Oklahoma’s average auto insurance rates have seen a steep drop since their peak in 2010, it still costs more to insure a car than the national average. Statewide, drivers are looking at a median cost of about $1527 per year in premiums; this is slightly higher than the $1439 national average.

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As with most metropolitan areas, insurance costs a bit more if you live in one of Oklahoma’s major cities. Drivers in Tulsa will end up paying an average of $1920, while those in Oklahoma City get a bit of a break with an average cost of $1802.

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There are a lot of factors that auto insurance companies take into consideration when determining your rates. Take a look at our overview here.

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While many of these factors are simply based on your own driving record, two things that affect even the safest of drivers are age and gender. As with most states, males typically pay higher auto insurance rates than females.

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These variations in auto insurance rates are exactly why it’s critical to do a bit of research in to the many different companies that offer insurance in the state. Each auto insurance provider will have its own combinations of policies, and offer unique discounts to drivers, so taking the time to sort through these companies to find the best deal can really pay off.

Oklahoma Auto Insurance Rates by Company

Though the state boasts very cheap auto insurance rates overall, let’s take a look at how rates vary between some of the largest companies.

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But which companies are the largest, holding the most market share percentage in the region?

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Oklahoma Driving Statistics And Information

When it comes to crash rates, drivers in Oklahoma have been showing improvements over the past couple of years. This trend should help with seeing some downward pressure on overall auto insurance premium rates across the state. In 2009, there were a total of 71,218 crashes reported statewide, and 646 fatalities resulted from those automobile accidents. Both of these numbers were down slightly from the 2008 totals of 72,667 and 673 respectively. With greater focus on safety and enforcement initiatives on Oklahoma’s roads and highways, these numbers will continue to decrease.

The news was largely the same in regards to auto theft numbers. Between 2008 and 2009 there was a decrease of 524 vehicle thefts, with the numbers dropping from a total of 10,929 to 10,404. The main reason that this 5% decrease might not seem like much of a drop is that Oklahoma already enjoys relatively low rates of vehicle theft. Again, the only things that will work to decrease these rates are a strong focus from law enforcement officials, and drivers being more diligent in protecting their automobiles with anti-theft devices.

Don’t let Oklahoma’s auto insurance rates get you down – we’ve recently built a tool that will allow Oklahoma drivers to find the lowest auto insurance rates around. Browse up to the top of this page and enter your zip code – we’ll help guide you through the rest!

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Oklahoma Auto Insurance Agents Directory

Oklahoma Auto Insurance Agents

Additional State of Oklahoma Auto Insurance Resources