Homeowners Insurance in Oklahoma

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How to find inexpensive home insurance in Oklahoma

Homeowners insurance is an optional — but important — product that works to keep your belongings safe in the event your house or property suffers damage from common incidents. A home insurance policy covers your dwelling, personal property, and other buildings in the event of a variety of circumstances, such as wind damage, fire, theft, vandalism, and more.

Unlike auto insurance, home insurance isn't priced based on state legislation. That said, there are major differences in home insurance rates on a state-by-state basis. Home insurance prices by state may vary depending on the value and number of homeowners policy claims made across the state, and depend on the value of the belongings and home insured on the policy.

The easiest way to find cheap home insurance in Oklahoma is to shop around and compare rates from multiple insurance companies. Learn more about typical homeowners insurance rates in Oklahoma via the below data. Remember: your rates may differ, depending on your coverage limits.

 

Homeowners insurance in Oklahoma:
  1. Rates by company
  2. Rates by city
  3. Home-and-auto bundling discounts
  4. FAQs

 

Homeowners insurance rates in Oklahoma by company

Rates for home insurance in Oklahoma can vary depending on the insurance company you use. Farmers offers the most affordable home insurance in Oklahoma — only $2,371 yearly. This compares favorably to the state average cost of $4,053, offering a $1,681 price cut on average policy costs statewide.

Start looking for home insurance by checking out the cheapest Oklahoma carriers, listed below.

 

THE MOST AFFORDABLE HOMEOWNERS INSURANCE COMPANIES IN OKLAHOMA
CompanyAverage 12-Month Rate in Oklahoma
Farmers$2,371.36
American National$2,605.99
Oklahoma Farmers Union$2,929.91
Great Northern$3,502.75
State Farm$3,597.80

 

Oklahoma home insurance prices: by city

Home insurance rates in Oklahoma vary by city. Policy pricing depends on city-specific variables like the number of homeowners claims filed nearby, lending your ZIP code plenty of weight in deciding how much you pay.

The cheapest home insurance rates in Oklahoma are available in Bartlesville. In Bartlesville, the typical home insurance policy costs $3,455 per year — $597 less than the average Oklahoma rate. Homeowners in the below cities enjoy the most affordable insurance in Oklahoma.

 

AFFORDABLE HOME INSURANCE BY CITY IN OKLAHOMA
CityAverage Annual Home Insurance Rate
Bartlesville$3,455.21
Owasso$3,516.13
Claremore$3,551.75
Tulsa$3,582.62
Bixby$3,584.95

 

Oklahoma insurance bundling discounts: homeowners and auto

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

 

HOME AND AUTO INSURANCE BUNDLING DISCOUNTS IN OKLAHOMA
Avg. 12-Month Auto Insurance Rate (No Bundle)Avg. Yearly Auto Insurance Rate (Bundle)Annual Bundle SavingsBundle Savings %
$1,527.00$1,373.00$154.0011%

 

Looking for insights on homeowners insurance in a specific city? Check out our analysis of major Oklahoma cities:

 

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-risk of a variety of perils, including tornadoes, wildfires, flooding, earthquakes, and hailstorms. Because of the increaseed likelihood of claims, many insurers raise premiums in the state.

Are you required to have homeowners insurance in Oklahoma?

Oklahoma does not require homeowners insurance, but it is highly recommended. If you have a mortgage, your lender is likely to require it as a part of your lending 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)