The cost of car insurance in Tulsa is expected to rise in 2023. According to a recent report by the Insurance Information Institute, the average annual premium for full coverage car insurance in Tulsa is expected to increase by 8.4%, from $2,158 in 2022 to $2,336 in 2023. This is higher than the national average increase of 7.6%.
There are a number of factors contributing to the rise in car insurance prices in Tulsa. These include:
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Inflation: The rising cost of living in Tulsa is also driving up the cost of car insurance. This is because the cost of replacing a car in the event of an accident is also rising.
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Increased claims: The number of car accidents in Tulsa has been increasing in recent years. This is due to a number of factors, including the growing population, the increasing number of uninsured drivers, and the distracted driving epidemic.
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Changes in the law: The Oklahoma legislature has recently made changes to the state's car insurance laws. These changes have made it more difficult for some drivers to qualify for low-cost insurance.
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If you live in Tulsa and are looking for ways to save money on car insurance, there are a few things you can do:
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Shop around: Get quotes from multiple insurance companies before you buy a policy. You may be surprised at how much your rates can vary from company to company.
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Increase your deductible: Raising your deductible can save you money on your monthly premiums. However, make sure you can afford to pay the deductible if you have an accident.
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Bundle your insurance: If you have other types of insurance, such as homeowners or renters insurance, you may be able to save money by bundling them with your car insurance.
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Take a defensive driving course: Taking a defensive driving course can lower your rates by up to 10%.
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Maintain a good driving record: If you have a clean driving record, you'll be eligible for lower rates.
If you're struggling to afford car insurance, you may be eligible for financial assistance from the Oklahoma Department of Insurance. The department offers a number of programs to help low-income drivers get the coverage they need.
The rising cost of car insurance can be a burden, but there are a number of things you can do to save money. By shopping around, increasing your deductible, bundling your insurance, and taking a defensive driving course, you can lower your rates and get the coverage you need without breaking the bank.
Find out more by checking out these articles!
The importance of carrying the proper auto insurance in Tulsa
Best practices for purchasing online auto insurance in Tulsa
Additional Tips for Saving Money on Car Insurance in Tulsa
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Consider a usage-based insurance plan: These plans track your driving habits and adjust your premiums accordingly. If you're a safe driver who doesn't drive much, you could save money with a usage-based plan.
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Get quotes from local insurance agents: Local agents often have better rates than national companies. They can also help you find the right coverage for your needs.
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Ask about discounts: Many insurance companies offer discounts for things like good student status, anti-theft devices, and safety features.
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Be prepared to negotiate: Don't be afraid to negotiate with your insurance company. You may be able to get a lower rate if you're willing to switch to a different policy or increase your deductible.
By following these tips, you can save money on car insurance in Tulsa and get the coverage you need without breaking the bank.