Cheapest Non-Owner Car Insurance In Oklahoma 2024

State Farm’s non-owner car insurance in Oklahoma, costing an average of $358 yearly, is a practical option for meeting state requirements or maintaining coverage when you don’t own a car.

Does Oklahoma Allow Non-Owner Car Insurance?

In Oklahoma, you can purchase non-owner car insurance to drive legally without owning a car. It covers liability for injuries and damages, ensuring compliance with state regulations.

Cheapest Overall Non-Owner Car Insurance In Oklahoma

Oklahoma residents can get the most affordable non-owner car insurance from State Farm, averaging $358 annually.

Cheapest Non-Owner Car Insurance With A Clean Driving Record

The most budget-friendly non-owner car insurance in Oklahoma for drivers with a clean record is offered by State Farm, with an average annual rate of $358.

Cheapest Non-Owner SR-22 Car Insurance In Oklahoma

In Oklahoma, State Farm offers non-owner SR-22 car insurance at the lowest price, with an average annual premium of $541.

What Is Non-Owner Car Insurance?

Liability insurance for non-car owners is called non-owner car insurance. It protects against costs if you’re at fault in an accident, covering damages to other people and their property. It’s handy for renters, borrowers, and car-sharing enthusiasts, though it doesn’t cover the driver’s injuries or the car being driven.

Oklahoma Minimum Auto Insurance Requirements

In Oklahoma, all drivers are required to carry auto insurance with specific minimum limits. These include $25,000 for bodily injury per person, $50,000 for the entire accident, and $25,000 for property damage. Additionally, Oklahoma mandates personal injury protection (PIP) for medical expenses and lost wages, as well as uninsured motorist coverage of $25,000 per person and $50,000 per accident.

What Is SR-22 Insurance?

SR-22 is a certificate, not car insurance, that is required for high-risk drivers to show they have the minimum liability coverage as dictated by state law. It’s typically required after serious driving violations such as DUIs or reckless driving.

The insurance company files the SR-22 with the state’s motor vehicle department. Even though it’s not insurance, drivers with an SR-22 often face higher premiums because they are considered higher risk. This requirement usually lasts for a designated period, often three years.

Average Cost Of Non-Owner Car Insurance In Oklahoma

If you’re someone who rents or borrows cars often in Oklahoma, understanding the cost of non-owner car insurance is essential. It provides liability coverage without the high expense of a full insurance policy, making it a smart choice. Below is a comparison of average costs on both annual and monthly bases from various providers, to help you choose the right coverage.

Average Cost Of Non-Owner Car Insurance In Oklahoma – By Age

Age significantly impacts the cost of non-owner car insurance in Oklahoma. Insurance companies consider younger drivers to be at a higher risk of accidents, which leads to higher premiums. Older drivers, however, generally receive lower rates due to their greater driving experience and lower accident risk.

For example, a 20-year-old may pay about $462 annually, while a 50-year-old could pay closer to $232. Below is a table comparing insurance rates by age.

Average Cost Of Non-Owner Car Insurance In Oklahoma Cities

Location is a key determinant of the cost of non-owner car insurance in Oklahoma. Factors such as traffic patterns, crime rates, and local regulations influence how insurers set premiums. Urban centers like Midwest City typically face higher premiums due to the risks associated with heavy traffic and crime. Smaller towns, however, often enjoy more affordable rates.

Below is a table comparing non-owner car insurance costs for five cities in Oklahoma.

Average Rates Vs Traditional Car Insurance

It’s crucial to distinguish between non-owner car insurance and traditional car insurance to make wise financial decisions. Non-owner car insurance is meant for individuals who drive frequently but don’t own a vehicle. It provides liability coverage for bodily injury and property damage to others, often making it more affordable than traditional car insurance.

Traditional car insurance, however, offers more comprehensive protection, including coverage for the vehicle itself, which results in higher premiums. Below is a comparison of average rates for both insurance types across five companies.

Should You Get Non-Owner Car Insurance In Oklahoma?

Non-owner car insurance is an excellent option for individuals who don’t own a vehicle but still require liability coverage. Here’s a guide to who should consider it based on their needs:

• Renters: If you rent vehicles regularly, non-owner car insurance is a smart choice. It often provides better liability coverage than the rental car company’s insurance, saving you money and ensuring you’re consistently protected.
• Car Borrowers: Borrowing cars from friends or family members occasionally? Non-owner insurance gives you liability protection if you’re at fault in an accident while driving someone else’s car.
• License Reinstatement: Non-owner car insurance is often required when reinstating your license after a suspension, especially after serious offenses like DUIs. Filing an SR-22 with this insurance shows you’re meeting state requirements.
• Infrequent Drivers: If you drive sparingly but want to avoid gaps in your coverage, non-owner car insurance keeps your policy active, which helps you avoid higher rates in the future.
• Drivers Between Cars: If you’re between vehicles or have recently sold your car, non-owner car insurance helps bridge the gap with liability coverage, ensuring you remain insured and maintain a good insurance history.

Average Non-Owner Car Insurance Rates vs Other US States