Getting older comes with a few unpleasant surprises.
Your knees start making sounds. Staying awake past 10:00 p.m. becomes an achievement. Teenagers begin calling the music you grew up with “old school.”
But there is at least one financial benefit to adding a few candles to the birthday cake: cheaper car insurance.
We analyzed average full coverage rates for 12 driver age groups across six Oklahoma cities to determine when drivers tend to pay the least. According to the data, the answer is ages 40 to 44.
Drivers in that age group had an average full coverage rate of $88.67 per month, the lowest of any age range included in the analysis.
Key findings
- Oklahoma drivers ages 40 to 44 had the cheapest average full coverage rate at $88.67 per month.
- Drivers ages 18 to 20 had the highest average at $199.67 per month.
- The youngest drivers paid approximately 125% more than drivers ages 40 to 44.
- Average rates fell sharply throughout a driver’s 20s.
- Rates remained remarkably stable from ages 30 through 59.
- Rates began increasing gradually after age 60, but the increase was relatively small.
Average full coverage rates in Oklahoma by age
| Driver age | Average monthly rate | Average annual rate |
| 18–20 | $199.67 | $2,396 |
| 21–24 | $128.83 | $1,546 |
| 25–29 | $97.17 | $1,166 |
| 30–34 | $89.83 | $1,078 |
| 35–39 | $89.00 | $1,068 |
| 40–44 | $88.67 | $1,064 |
| 45–49 | $89.17 | $1,070 |
| 50–54 | $89.33 | $1,072 |
| 55–59 | $89.17 | $1,070 |
| 60–64 | $91.33 | $1,096 |
| 65–69 | $93.33 | $1,120 |
| 70–75 | $94.50 | $1,134 |
At what age is full coverage car insurance the cheapest in Oklahoma?
Based on the six cities included in our analysis, Oklahoma drivers ages 40 to 44 had the cheapest full coverage car insurance rates.
Their average rate was $88.67 per month, which equals approximately $1,064 per year.
But drivers do not need to celebrate their 40th birthday by immediately calling every insurance company in Oklahoma.
The data does not mean turning 40 automatically unlocks a secret insurance discount like a video game achievement. Age is only one of several factors insurers use to calculate a premium.
Still, the overall pattern is clear. Full coverage rates fell quickly for younger drivers, reached their lowest point during the early 40s and remained relatively stable through the late 50s.
Young drivers pay the most for full coverage
Drivers ages 18 to 20 had an average full coverage rate of $199.67 per month.
That was:
- $111 more per month than the average for drivers ages 40 to 44
- $1,332 more per year
- Approximately 125% higher
In other words, the youngest drivers in the analysis paid more than twice as much as the group with the lowest average.
That is a rough welcome-to-adulthood present.
You can vote. You can sign contracts. You can buy your own groceries. You can also pay nearly $200 per month for full coverage because insurance companies know that enthusiasm and driving experience are not always the same thing.
Rates fall dramatically during a driver’s 20s
The good news for younger drivers is that the highest rates do not last forever.
Average full coverage rates decreased from:
- $199.67 per month for ages 18 to 20
- To $128.83 for ages 21 to 24
- To $97.17 for ages 25 to 29
- To $89.83 for ages 30 to 34
The average dropped by approximately $110 per month between the youngest group and drivers ages 30 to 34.
That represents potential savings of approximately $1,318 per year.
There may not be a parade when you turn 30, but saving more than $1,000 a year is not a terrible consolation prize.
Rates barely change from ages 30 through 59
One of the most interesting findings was how little average rates changed during the middle-age groups.
From ages 30 through 59, the average monthly rates ranged from $88.67 to $89.83.
That is a difference of only $1.16 per month between the highest and lowest averages during that 30-year span.
The averages were even closer from ages 35 through 59:
| Driver age | Average monthly rate |
| 35–39 | $89.00 |
| 40–44 | $88.67 |
| 45–49 | $89.17 |
| 50–54 | $89.33 |
| 55–59 | $89.17 |
Only 66 cents separated the highest and lowest averages among those five groups.
You could probably find more than 66 cents under the seat of your car, although checking under there may also uncover three french fries, a mystery receipt and the sunglasses you blamed your children for losing.
Do full coverage rates increase for older drivers?
The averages began increasing after age 60, but not dramatically.
Drivers ages 60 to 64 averaged $91.33 per month. That increased to $93.33 for ages 65 to 69 and $94.50 for ages 70 to 75.
The oldest drivers in the analysis paid an average of $5.83 more per month than drivers ages 40 to 44.
That works out to approximately $70 more per year.
So yes, the data shows a slight increase for older drivers. No, the increase does not resemble the massive price difference younger drivers experience.
The rate curve is less like a roller coaster and more like a speed bump that someone painted a little too aggressively.
Why does age affect full coverage rates?
Insurance companies use age as one factor when estimating how likely a driver is to have an accident or file a claim.
Younger drivers generally have less experience behind the wheel. As drivers gain experience and maintain a clean record, their rates may decrease.
Age is not the only factor, though. Full coverage rates can also depend on:
- Driving record
- Insurance history
- ZIP code
- Vehicle year, make and model
- Comprehensive and collision deductibles
- Coverage limits
- Discounts
- Claims history
- Other rating factors used by the insurer
Two 42-year-old drivers living in the same city can still receive very different quotes.
One might drive a sensible sedan, have continuous insurance and a spotless record. The other might drive a sports car and collect speeding tickets like loyalty points.
Insurance companies will notice the difference.
What does full coverage include?
“Full coverage” is a common term for a policy that combines liability insurance with comprehensive and collision coverage.
Collision coverage generally helps pay for damage to your vehicle after an accident. Comprehensive coverage generally applies to damage caused by events other than a collision, such as theft, fire, hail, flooding or falling objects.
That can be especially important in Oklahoma, where the weather occasionally wakes up and chooses violence.
Full coverage does not mean every possible loss is covered. Coverage limits, deductibles and exclusions still apply. Drivers should review the actual policy instead of relying solely on the words “full coverage.”
How can Oklahoma drivers lower their full coverage rates?
You cannot change your age overnight, no matter how convincing your skincare advertisements may be.
You can, however, work on other factors that may affect your premium:
- Compare equivalent quotes
Use the same liability limits, deductibles and optional coverages when comparing companies. A cheaper quote is not necessarily a better deal if it provides less coverage. - Maintain continuous insurance
A lapse in coverage can make finding an affordable rate more difficult. - Choose deductibles carefully
Higher deductibles may lower the monthly premium, but they also increase what you must pay after a covered loss. - Ask about available discounts
Discounts may be available for automatic payments, multiple vehicles, defensive-driving courses or other qualifying factors. - Review coverage as the vehicle ages
Full coverage may make sense for a newer or financed vehicle. Drivers with older vehicles should compare the cost of coverage with the vehicle’s value and their ability to replace it. - Keep a clean driving record
Tickets and accidents can affect rates much more than a birthday.
Methodology
We averaged published monthly full coverage rates for 12 driver age groups across six Oklahoma cities:
- Broken Arrow
- Del City
- Lawton
- Norman
- Oklahoma City
- Tulsa
Each city was weighted equally when calculating the average for an age group. The results are descriptive averages for the six cities analyzed. They are not population-weighted statewide premium estimates.
The city pages state that their rate data was generated as part of The Zebra’s annual insurance rate study. This article is an independent analysis of those published figures and should not be described as proprietary rate data collected by Cheapest Auto Insurance.
The data does not isolate age from every other possible rating variable. Therefore, the findings show how average published rates differed among age groups. They do not prove that entering a particular age group will cause an individual driver’s premium to change by the same amount.
Actual rates will vary by driver, vehicle, location, coverage selection and insurance company.
Final answer
Drivers ages 40 to 44 had the cheapest average full coverage car insurance rates in our six-city Oklahoma analysis, at $88.67 per month.
However, the difference among drivers ages 35 through 59 was tiny. Only 66 cents separated the lowest and highest monthly averages across those five age groups.
The biggest story is not that age 40 is a magical insurance milestone. It is that rates fell dramatically throughout a driver’s 20s, stabilized around age 30 and remained fairly consistent through the late 50s.
Getting older may not always be exciting, but at least your insurance bill might calm down before your back starts acting up.