For Immediate Release:
April 22, 2024

Your Guide to Car Insurance Savings

By Oklahoma Insurance Commissioner Glen Mulready


Like with homeowners insurance, the cost of car insurance has steadily increased over the past few years. We at the Oklahoma Insurance Department (OID) understand the frustration Oklahomans experience when they see higher coverage costs. Remember some factors that determine premiums, such as your age and location, cannot be changed. However, there are still things you can do to lower the amount on your insurance bill. This month, I want to share some tips and information on how you can save money on car insurance.

Shop around.

This is the biggest advice I can give anyone unhappy with their current coverage or looking for coverage. It can be time-consuming, but it can save you hundreds of dollars annually. Get multiple quotes from different insurance companies to see who can offer the coverage you need at the right price. Also, keep in mind that you do not have to do this by yourself. Talk to an independent agent who can get you multiple estimates and review coverage options with you. It’s important always to research companies and see what quality of service they provide and to see if they have an extensive history of complaints because cheaper coverage might come with higher costs in other areas.

Adjust your coverage to meet your needs.

I want to preface this by saying your coverage should meet your needs. In Oklahoma, you must by law carry bodily injury liability and property damage liability coverage, but that doesn’t mean you don’t need additional coverage. It’s better to have more coverage than to be underinsured. Go through your policy with your agent to see what you need and what you can reduce or change. If you have no claims and don’t drive much, increasing your deductible can save you hundreds a year. If your vehicle is older and your premium is a considerable portion of its value, check to see if you still need to maintain collision and comprehensive coverages, and consider moving to liability-only coverage.

Check out discounts.

Contact your insurance company to see which discounts are available to you. Small discounts can add up and make a difference with your premium. The discounts vary from company to company, but you might be eligible for discounts for safe driving, low mileage, paperless billing, or having anti-theft devices, to name a few. Some companies offer good student discounts, which are helpful if you have a teen driver on your policy, and military discounts for active duty or retired service members. Bundling your auto policy with your homeowners or renters policy can also help you save.

Maintain a good driving record.

Accidents and tickets for careless or reckless driving will cause your insurance premiums to increase, but having a clear driving history can go a long way in helping to reduce costs. In Oklahoma, insurance companies can look at the past three years of your driving record to help determine premiums. Some companies offer discounts for taking defensive driving courses. Similarly, if you’re a cautious driver, many insurance companies have telematics programs where they track your driving via a small device in your car, which can result in lower costs.

Determine if minor damage is worth filing a claim.

If you are involved in an accident with another driver, you must submit a collision report and begin the process of filing a claim. However, if you have minor damage that doesn’t involve another vehicle or driver, like scrapes or dings, it may be in your best interest not to file a claim if you can weather it from a financial standpoint. Still, we recommend getting an estimate before deciding to file a claim for minor damage because, in some cases, what might seem minor could be more extensive or expensive, especially as automakers outfit vehicles with the latest technology.

Car insurance costs have increased over the past several years, but that doesn’t mean you can’t save money. Being an informed shopper and taking an active role in your insurance needs can help reduce your costs by hundreds of dollars. Don’t forget that OID is here to help. If you have any questions about car insurance, contact us at 800-522-0071 or online at Additionally, I recommend checking out our Insurance Basics and Auto Insurance Common Myths pages for helpful information.

Media questions or comments should be directed to
Chief of Communications, Liz Heigle | (405) 819-2221