Cheapest Car Insurance for Low-Income Drivers in Oklahoma (October 2024)

For individual drivers in Oklahoma with low income and poor credit history, Mercury is the cheapest car insurance option at $31 per month. For families with low income, Progressive is the most affordable provider at $55 per month. Oklahoma does not offer state-backed car insurance programs for families and individuals with low income. Finding the provider with the most affordable rate is one option for managing the cost. There are also ways to get discounts to help alleviate the cost of car insurance.

Although minimum coverage will help you drive legally, there are downsides to getting this type of coverage. For example, minimum coverage might not be sufficient to cover all damages in an at-fault accident.

Like most other states, car insurance companies in Oklahoma don't offer income-based assistance programs. Income isn't a factor when calculating your car insurance rates in Oklahoma, but other factors — including your age and credit history — are important.

The best way to find the cheapest rates is to compare quotes from several insurance companies. A minimum coverage policy is often the most inexpensive way to stay legal on the road, but it can leave you vulnerable to a substantial loss from an at-fault accident. If you rarely drive, look into pay-per-mile insurance, which could be a great way to save.

To drive legally in Oklahoma, you must have car car insurance that meets the state's minimum car insurance requirements. Your policy should include at least the following liability coverage limits:

• $25,000 for bodily injury liability per person
• $50,000 for bodily injury liability per accident
• $25,000 for property damage liability per accident

Understanding the difference between policy types is crucial. A liability-only car insurance policy covers expenses for the other driver if you're at fault in an accident. However, it doesn't cover your own vehicle. To protect your car, consider a full coverage car insurance policy, which includes collision and comprehensive coverages. These cover damages beyond collisions, like theft, vandalism or natural disasters.

Assessing the risks and benefits of different coverages will help determine what's best for your situation.

Your credit record can affect your car insurance rates in Oklahoma. A lower credit-based insurance score may signal to insurers that you're a higher risk, which can lead to more expensive premiums.

Oklahoma drivers with poor credit records can find affordable rates with:

• Mercury: $377 per year; $31 per month
• Progressive: $573 per year; $48 per month

The cheapest car insurance in Oklahoma for drivers with low income and good credit history are:

• Mercury: $289 per year; $24 per month
• Progressive: $362 per year; $30 per month

Driving without insurance in Oklahoma is considered a misdemeanor and can lead to suspension of your driver's license and vehicle registration, fines ranging from $175 to $1,000 and other penalties. Make sure you're covered to drive legally and safely.

While car insurance rates aren't directly tied to your income, your family situation can influence your premiums. In Oklahoma, a single parent's annual rate can differ by $712 compared to a married couple with a teen. The latter enjoys a more affordable rate by $59 per month.

The most budget-friendly car insurance companies for married couples with a teen in Oklahoma are:

• Progressive: $659 per year; $55 per month
• State Farm: $697 per year; $58 per month

For single parents with a teen, the most cost-effective options are:

• State Farm: $1,105 per year; $92 per month
• Progressive: $1,371 per year; $114 per month

Married couples with a teen often find lower rates than single parents with the same dependent, which is reflected in the premiums. Keeping a solid credit score is key to accessing these more affordable rates, as it reassures insurers of your reliability.

Car insurance premiums generally decrease as you reach your early senior years, typically around age 55 to 65, especially if you have a clean driving record. The two cheapest car insurance for senior drivers with low income and poor credit history are:

• Mercury: $482 per year; $40 per month
• Progressive: $524 per year; $44 per month

After age 70, car insurance rates typically increase as older drivers are statistically considered higher risk. This trend continues each year, meaning premiums generally rise as seniors age. In Oklahoma, there are no specific laws or guidelines for seniors getting car insurance.

Income doesn't directly affect car insurance rates in Oklahoma. However, if a low income leads to a poor credit record, this can result in higher rates. Conversely, a good credit record can lower rates. Understanding the factors contributing to car insurance rates in the Sooner State can help you make informed decisions when choosing the best car insurance for you.

You don't need a state-sponsored program to cut costs — finding affordable car insurance in Oklahoma is possible with the right strategies. Here are some tips to lower your premiums:

Finding affordable car insurance for drivers with low income in Oklahoma can be challenging. Here are answers to some of the most commonly asked questions about low-income car insurance options.