How Much is Insurance for a Honda CR-V in Oklahoma?

How Much is Insurance for a Honda CR-V in Oklahoma?

When writing about car insurance, the word cheap should not appear as a descriptor for car insurance rates. Be that as it may, cheap auto insurance for a Honda CR-V is almost non-existent. But don’t let that discourage you, because there may be ways you can find auto insurance that won’t break the bank.

Buying the cheapest car insurance for a Honda CR-V in Oklahoma depends on many factors such as your financial responsibility, your credit score, and any prior driving citations you have received. Oklahoma drivers on average will pay $990 annually for CR-V insurance, but that price is a valuation using cost data for a 40-year-old married female that included both comprehensive and collision coverage and $500 policy deductibles.

There’s a good chance you aren’t exactly 40 years old or even a female, single instead of married, and maybe your CR-V just needs liability-only coverage. Even a slight difference in rating variables can make a big difference in the policy rate.

Not everyone needs the same coverages, so the only real way to find affordable rates for your Honda is to shop your policy around at every renewal.

View Honda CR-V Insurance Rates

The specific model of CR-V will likely have an effect on the yearly cost, so the rate you will pay to insure a CR-V LX 2WD will be $30 cheaper than the cost to insure the more costly CR-V EX-L 4WD version, as shown in the prices below.

Honda CR-V Insurance Rates in Oklahoma
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $212 $380 $400 $24 $120 $1,136 $95
CR-V EX 2WD $212 $380 $400 $24 $120 $1,136 $95
CR-V LX 4WD $212 $380 $400 $24 $120 $1,136 $95
CR-V EX 4WD $242 $380 $400 $24 $120 $1,166 $97
CR-V EX-L 2WD $242 $380 $400 $24 $120 $1,166 $97
CR-V EX-L 4WD $242 $380 $400 $24 $120 $1,166 $97
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Above prices assume married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, safe-driver, multi-policy, homeowner, and multi-vehicle. Premium amounts do not factor in specific location which can lower or raise coverage prices noticeably.

Trying to find cost effective auto insurance is not most people’s favorite thing to do, and figuring out which companies quote the lowest-priced auto insurance rates for a Honda CR-V may require more quotes for comparison. Every auto insurer uses their own formula for establishing rates, so we’ll go over the most affordable auto insurance companies in Oklahoma.

It’s a good idea to know that Oklahoma auto insurance rates are calculated based on many things that will increase or decrease the price you pay for coverage. Simply improving your credit score, buying a new vehicle, or getting a couple of tickets can cause premium changes resulting in some rates now being cheaper than competitors.

Cheapest Insurance Rates for Your Honda

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Rankings for the cheapest Oklahoma auto insurance companies
Rank Company Cost Per Year
1 USAA $1,161
2 Oklahoma Farmers Union $1,202
3 The Hartford $1,333
4 GEICO $1,353
5 Safe Auto $1,419
6 Farmers $1,436
7 State Farm $1,583
8 Liberty Mutual $1,797
9 Travelers $1,868
10 OK Farm Bureau $2,018
11 Mercury $2,033
12 Shelter $2,129
13 MetLife $2,147
14 Progressive $2,179
15 Home State $2,214
16 Allstate $2,376
17 Safeco $5,056
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USAA has some of the most affordable car insurance rates in Oklahoma at around $1,161 each year. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto would also be considered some of the cheapest Oklahoma insurance companies.

In this example, if you are a policyholder with The Hartford and switched to USAA, you might see a yearly price reduction of about $172. Drivers with GEICO may save as much as $192 a year, and Safe Auto insureds might cut rates by $258 a year.

Understand that those policy rates are averages across all types of insureds and vehicles and do not factor in a specific rate factor for a Honda CR-V. So the company that has the lowest price for you may not even be shown in the chart above. That affirms the importance of why you need to get auto insurance quotes using your own individual information.

Rate comparison of full coverage and liability-only

Finding cheap insurance for a Honda CR-V in Oklahoma is probably important to most people, and one common way to pay less for insurance is to buy liability only. The information below shows the difference between annual premium costs when comparing full coverage to liability only. The rates are based on no violations or accidents, $500 deductibles, marital status is single, and no discounts are taken into consideration.

As an average for all age groups, physical damage insurance costs $2,108 per year over and above liability only. At some point, every insured wonders if it’s worth it to buy full coverage. There is no clear-cut rule of when to eliminate comp and collision coverage, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than around 10% of replacement cost minus your deductible, then it might be time to buy liability only.

There are a few cases where dropping full coverage is not in your best interest. If you haven’t satisfied your loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not eliminate full coverage.

How to find economical insurance for a Honda CR-V

The list below summarizes some of the recommended money-saving suggestions that can help you buy the cheapest coverage.

  • Having at-fault accidents will increase rates
  • If possible, pay for small claims out-of-pocket
  • Better credit scores save money
  • Raise your deductibles
  • Save money by obeying traffic laws and keeping a clean driving record
  • Buying home and auto insurance together can earn discounts
  • Shop around for cheaper rates regularly

That last idea is particularly necessary, as we pointed out in this piece. Coverage prices can change in a short period of time, so don’t be hesitant to switch carriers if you find a cheaper price. Staying with the same car insurance company is fine, but it isn’t a good idea if that loyalty ends up costing potentially thousands of dollars a year. Spend a few minutes and compare prices to find cheaper insurance for a Honda CR-V.

Best cheap Honda CR-V insurance quotes

You have a lot of ways to shop for and buy auto insurance in Oklahoma, but the most common ways are from a captive (or exclusive) agent such as Liberty Mutual or State Farm, an independent agent, or direct online or over the phone from a company like Geico or Progressive.

They all follow the same basic process, but each is slightly different in how they provide rate quotes.

Independent insurance agents have contracts with multiple insurance companies and can provide price quotes from each one. They have the ability to give you more rates, which may give you better odds of saving money. If premiums increase, your policy can be easily switched to a different company and you can remain with the same agent.

An agent who is captive is only able to place business with a single insurance company like Allstate or Farmers Insurance agents. This type of agents cannot provide rates from more than one company, so unless you get quotes from other companies, you cannot determine which is cheapest.

Consumers who buy auto insurance direct do not use an independent or exclusive agent and instead shop direct either online or via phone. Shopping direct may be good for drivers who have fewer assets and have some degree of understanding of the limitations of auto insurance.

When shopping for auto insurance, which way works best for finding cheap insurance for a Honda CR-V in Oklahoma? It would be simple to say buying direct saves the most money because you bypass the middleman, but in reality, that is not true. An argument could also be made that buying from an independent agent guarantees the cheapest rates since there are more companies to choose from, but that’s not always true, either. And often times, exclusive agencies have extremely competitive rates that are well below what direct and independents offer.

Due to that fact that auto insurance uses so many rating variables, really the best method to ensure the lowest rates is to do a thorough rate comparison. It’s a good idea to get quotes from all three to get an idea of which is cheapest. A great place to start is our list of online companies offering discounts: click here to view.