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The Best and Cheapest Home Insurance Companies in Oklahoma

We analyzed data from more than 150 insurance companies to find the cheapest home insurance rates in Oklahoma. Read on to learn more or enter your ZIP below to compare quotes.

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Oklahoma homeowners insurance: everything you need to know

 

Homeowners insurance isn't required, but it is important. A home insurance policy keeps your personal items protected. Homeowners insurance defends your dwelling, attached buildings, and personal property in the event of a variety of circumstances, including wind damage, fire, theft, vandalism, and others.

Unlike auto insurance, home insurance is not priced specifically by state. Even so, major gaps exist in home insurance rates from state to state. Insurance policy rates by state differ based on the number and cost home policy claims submitted across the state, and also on the price of the belongings and home you're insuring.

The easiest way to find cheap home insurance in Oklahoma is to view prices from a variety of insurance companies. Get an idea of how much home insurance costs in Oklahoma via the below breakdown. Remember: your rates will vary, depending on your coverage limits.

 

Home insurance in Oklahoma — table of contents:
  1. Rates by company
  2. Rates by city
  3. Rates by coverage level
  4. Rates by deductible amount
  5. Bundling discounts
  6. FAQs
  7. Homeowners insurance for disasters

 

The cheapest home insurance companies in Oklahoma

Rates for home insurance in Oklahoma will vary depending on which insurance company you choose. Farmers offers the most affordable home insurance in Oklahoma — only $2,371 each year. This compares favorably to the state mean cost of $4,053, offering a $1,681 price break on the state's average rate.

Begin the hunt for affordable homeowners coverage by reviewing the cheapest companies in the Sooner State, detailed below.

 

THE MOST AFFORDABLE HOMEOWNERS INSURANCE COMPANIES IN OKLAHOMA
Insurance CompanyAverage Annual Rate in Oklahoma
Farmers$2,371
American National$2,606
Oklahoma Farmers Union$2,930
Great Northern$3,503
State Farm$3,598

 

Cheap cities for homeowners insurance in Oklahoma

Not every town in Oklahoma has the same homeowners insurance rates. Rates rely on on locally specific variables such as the number of local claims filed.

The cheapest home insurance rates in Oklahoma are available in Bartlesville. An average home insurance policy in this northeast Oklahoma city costs just $3,455 per year — $597 less than the statewide average. The cities listed below are home to the cheapest home insurance in Oklahoma.

 

AFFORDABLE HOME INSURANCE BY CITY IN OKLAHOMA
CityAverage Annual Home Insurance Rate
Bartlesville$3,455
Owasso$3,516
Claremore$3,552
Tulsa$3,583
Bixby$3,585

Looking for information on home insurance in a particular city? Check out our analysis of significant Oklahoma cities:

 

Average home insurance rates in Oklahoma by coverage level

The level of homeowners coverage you select has an impact on your insurance rates. In Oklahoma, maintaining $100K dwelling coverage costs an average of $1,744 per year, while carrying dwelling coverage up to $400K can cost as much as $5,222 per year.

 

HOMEOWNERS INSURANCE RATES IN OKLAHOMA — COMMON COVERAGE TIERS
Coverage LevelAverage Annual Premium
$100,000 Dwelling$1,744
$200,000 Dwelling$2,833
$250,000 Dwelling$3,497
$400,000 Dwelling$5,222

 

Homeowners insurance deductibles in Oklahoma

Oklahoma homeowners have a lot of choices to make when buying a policy, including how much their deductible should be. A deductible is the amount for which a homeowner is responsible before an insurance company steps in to cover costs. The deductible that you decide on can impact your insurance rates directly.

When choosing a deductible, a good rule of thumb is that the lower your deductible, the higher your premiums. Therefore, if you need your home insurance rates to be lower, it pays to keep your deductible higher. It's worth noting that your deductible should only be as high as you can reasonably pay in the event of a loss.

Have a look at the average deductibles offered by home insurance companies and an approximation of average premiums.

 

HOMEOWNERS INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN OKLAHOMA
Deductible LevelAverage Annual Homeowners Insurance Rate
$500$3,811
$1,000$3,497
$1,500$3,262
$2,000$3,070
$5,000$2,695

 

How to bundle home and auto insurance in Oklahoma

If you want to save on insurance, consider purchasing your home and car insurance policies from the same company. Bundling auto and homeowners insurance in Oklahoma can lead to substantial savings on car insurance. Purchasing bundled policies in Oklahoma leads to average annual savings of $154.

 

HOME AND AUTO INSURANCE BUNDLING SAVINGS IN OKLAHOMA

Avg. Annual Rate (No Bundle)

Avg. Annual Rate (w/ Bundle)

Annual Savings ($)

Annual Savings (%)

$1,527$1,373$15411%

 


 

Oklahoma homeowners insurance FAQs

 

Does GEICO insure homes in Oklahoma?

Yes — GEICO provides homeowners insurance in the state of Oklahoma.

Why is home insurance so expensive in Oklahoma?

Oklahoma is in the unfortunate position of being at a high risk for many different perils, including tornadoes, wildfires, flooding, earthquakes, and hailstorms. Because of the higher likelihood of a claim needing to be filed, many insurers have raised premiums across the state.

Find out more about high-risk home insurance

Are you required to have homeowners insurance in Oklahoma?

Even though Oklahoma does not require homeowners insurance, it is highly recommended that you carry a policy. If you have a mortgage, your lender is likely to require it as a part of your agreement.

 


 

Earthquake insurance in Oklahoma

Oklahoma encounters an estimated 285 earthquakes every year, meaning Oklahoma residents should consider an insurance policy that covers earthquakes.* However, this coverage doesn’t come standard in home policies. Earthquake coverage comes as an endorsement to your home insurance policy, covering damage resulting from land movement.

Aftershocks are another serious concern when it comes to earthquakes. They can be severe and often cause damage for days after the initial event. Luckily, having this coverage means that you pay a single deductible for damage from the initial earthquake as well as any resulting aftershocks within a period of 72-hours.

For those who live in earthquake-prone areas, you can expect your homeowners insurance rates to be more expensive. This is especially true in areas with the highest risk of seismic activity. While most standard insurance carriers don’t offer earthquake coverage, options exist in seismically-active states. Companies in Oklahoma may offer endorsements covering earthquake damage. Keep in mind that earthquake deductibles are usually higher than deductibles for most standard perils. An earthquake endorsement added to your homeowners insurance policy will cost you an additional $127 per year in Oklahoma.

Below you can find a few of the best earthquake insurance options in Oklahoma. Please note that these figures are merely estimates. Rates specific to your property can be found by consulting the listed insurers.

 

CHEAP HOMEOWNERS EARTHQUAKE COVERAGE IN OKLAHOMA
CompanyAverage 12-Month Earthquake Insurance Rate
American National Financial$2,266
Liberty Mutual$2,328
American Farmers & Ranchers$2,385
Chubb$2,411
CSAA$2,625

*Source: United States Geological Survey (https://earthquake.usgs.gov/earthquakes/browse/)

 

Homeowners insurance and tornadoes in Oklahoma

A tornado can hit with precious little warning. There isn't much that can be done to prepare and the effects can be devastating. It's vital to protect your home against tornadoes in Oklahoma, which averages 65 twisters per year.*

Tornado damage is typically caused by wind, so verify your home insurance policy includes windstorm protection, which comes standard in most homeowners policies.

Wind protection covers the exterior and overall structure of the building. Depending on your policy type, you may find that interior damage is only covered when it occurs as caused by exterior damage, like a tree branch breaking a window. Also covered are detached structures, generally up to 10% of the home’s insured amount. Bear in mind that other damages brought about by the storm may not be covered by insurance. For example, if the storm that produced the tornado also causes flooding that damages your home, those damages won't be covered unless you've previously added flood insurance to your policy.

*Source: NOAA's National Weather Service (https://www.spc.noaa.gov/gis/svrgis/)

 

Home insurance and fires in Oklahoma

Fire coverage comes standard on most homeowners policies in OklahomaIf a fire destroyed your homeyour insurance company would cover the damage to your property up to your policy limits. The prevalence of wildfires in Oklahoma reinforces the importance of sufficient homeowners insurance: 9% of Oklahoma households are in danger of suffering wildfire damage. In fact, 745, 097 of the state's acres fell victim to fires in the state in 2018.* Wildfires may not be covered by insurance: consult our guide for details. 

In addition to covering damages — up to your policy limits — your homeowners insurance could pay for your additional living expenses if your home is uninhabitable. Damage that occurs via arson — or fire-related damage to a vacant home — will not be covered by a homeowners insurance policy.

*Source: Insurance Information Institute (https://www.iii.org/fact-statistic/facts-statistics-wildfires)

 

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Kristine Lee LinkedIn

Kristine is a licensed insurance agent and one of The Zebra’s in-house content strategists. With a background in copywriting, she covers the ins and outs of the home and car insurance industries. She has contributed to numerous publications focused on the nuances of insurance, including Automoblog, USInsuranceAgents.com, and BestCompany.com.

About The Zebra

The Zebra is not an insurance company. We’re an independent, unbiased partner for consumers, on a mission to help you compare insurance options apples-to-apples, so you can make a truly informed decision. We’re proud because: