1. Home
  2. The Best Cheap Homeowners Insurance in Oklahoma

The 5 Best Homeowners Insurance Companies in Oklahoma

Aside from the annual premium cost, you have to evaluate home insurance in Oklahoma using various factors. Check each company’s coverage options, ability to pay claims and customer service history. Make sure that the homeowners insurance policy will fit your needs.

To help you find the best home insurance in Oklahoma, MoneyGeek listed the top five companies based on affordability, J.D. Power’s customer satisfaction scores and AM Best’s financial stability rating.


1

USAAScore: 94

4.4/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability


Active and retired military members can benefit from cheap insurance rates with USAA. The company offers affordable policies. USAA policyholders can also bundle coverages to qualify for discounts. You can even complete most transactions anywhere using USAA’s mobile app.

2

AllstateScore: 89

4.6/5

Affordability

4.2/5

User Satisfaction

4.5/5

Financial Stability


The Allstate policy is a standard policy that you can customize to include optional coverages. If you include the Rate Guard feature, you can avoid rate increases over time. Additionally, the company allows policyholders to earn a percentage of their premium if they do not make claims during their annual policy. Customers can pay bills and make claims online.Allstate created a rate calculator, a mobile app and a household inventory tool that Oklahoma homeowners can use for convenience.

Read MoneyGeek's Allstate Home Insurance Review

3

FarmersScore: 89

4.5/5

Affordability

4.6/5

User Satisfaction

4/5

Financial Stability


With Farmers’ customizable plans, Oklahoma homeowners can get a standard policy or choose comprehensive coverage to increase personal property limits and adjust replacement payments. Farmers policyholders can use the online rate calculator, household inventory tool and mobile app. Payment of bills and claims application is also available online.

Read MoneyGeek's Farmers Home Insurance Review

4

TravelersScore: 88

4.5/5

Affordability

3.9/5

User Satisfaction

5/5

Financial Stability


Aside from the standard policy, Travelers offers additional optional inclusions for comprehensive coverage. You can even save money by choosing the company’s bundling options. For example, bundling your Travelers home insurance with your Travelers car insurance policy will allow you to enjoy additional discounts. Like other companies in Oklahoma, Travelers has a rate calculator, a mobile app. An online bills payment option and an online claims application tool.

Read MoneyGeek's Travelers Home Insurance Review

5

State FarmScore: 87

4.3/5

Affordability

4.1/5

User Satisfaction

5/5

Financial Stability


Oklahoma homeowners can access State Farm’s rate calculator, mobile app, online bills payment option, online claims application and household inventory tool. You can gain access to a replacement cost estimator through the company’s online quoting system. State Farm policyholders can take advantage of the agency’s specific property insurance policies like for manufactured homes and condos. You can add optional coverages depending on your needs and get discounts for certain features.

Read MoneyGeek's State Farm Home Insurance Review

What Is the Average Cost of Homeowners Insurance in Oklahoma?

$0
$0

home insurance is 0.0% more than the average.

On average, the cost of annual premium for home insurance in Oklahoma is $2,520 for an average dwelling coverage baseline amount of $100,000. The state average is 19.8%, or $417, more than the country’s average annual premium, which is $2,103. Oklahoma homeowners insurance rates are determined by risks associated with the individual and other area-related factors, such as crime rates, property values and weather conditions.

Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Oklahoma

Homeowners insurance rates also vary because of the specific risks associated with a person. Insurance carriers will take a look into the home’s value, age, roof’s quality, property’s location, how near it is to a fire department, whether you have a pool, if you have an aggressive dog breed and the deductible you choose.

moneygeek-logo

Home Insurance Calculator

State

Oklahoma

Dwelling Coverage

$100,000

Deductible

$500

Liability

$300,000

Personal Property

$150,000

Credit Score

Excellent
moneygeek-logo

low end

on average

high end

These are annual estimates. Get a personalized quote to determine your costs.

The Cheapest Homeowners Insurance Quotes in Oklahoma

While the average annual premium in the state is slightly higher than the national average, finding cheap homeowners insurance in Oklahoma is still possible. Chubb’s policy for baseline dwelling coverage may cost an average of $1,464 per year, which is 41.9% or $1,057 less than the state average. Compare homeowners insurance quotes from various companies to find the most accurate policy.

The dwelling coverage refers to the policy feature that covers physical repairs if your home gets damaged due to covered risks like vandalism, fire, explosions and weather. The dwelling coverage baseline in Oklahoma is $100,000.

Cheapest Homeowners Insurance by Dwelling Coverage

Dwelling Coverage:

$100,000
Company
Amountper year
1. Chubb
In 2020, Chubb ranked #1 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Oklahoma.
$1,464
2. Allstate
In 2020, Allstate ranked #2 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Oklahoma.
$2,041
3. Farmers
In 2020, Farmers ranked #3 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Oklahoma.
$2,148
4. Travelers
In 2020, Travelers ranked #4 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Oklahoma.
$2,234
5. USAA
In 2020, USAA ranked #5 for the cheapest homeowners insurance with $100,000 in dwelling coverage in Oklahoma.
$2,390

Best Cheap Homeowners Insurance Companies for Expensive Homes

As a homeowner of an expensive home, you would want to get the best home insurance in Oklahoma to keep it safe. The most affordable option for a $2 million home in Oklahoma would likely be through Farmers. A policy with Farmers may cost an average of $12,472 per year. Depending on the insurance company, a similar policy may cost much more. For instance, homeowners insured by AAA pay an average annual premium of $87,645. Comparing personalized quotes will help you find the best policy.

Cheapest Homeowners Insurance Companies for High-Value Homes
Company
Amountper year
1. Farmers
In 2020, Farmers ranked #1 in Oklahoma for the cheapest homeowners insurance for high-value homes.
$12,472
2. Allstate
In 2020, Allstate ranked #2 in Oklahoma for the cheapest homeowners insurance for high-value homes.
$17,243
3. USAA
In 2020, USAA ranked #3 in Oklahoma for the cheapest homeowners insurance for high-value homes.
$17,877
4. Chubb
In 2020, Chubb ranked #4 in Oklahoma for the cheapest homeowners insurance for high-value homes.
$19,551
5. State Farm
In 2020, State Farm ranked #5 in Oklahoma for the cheapest homeowners insurance for high-value homes.
$27,888

Best Homeowners Insurance Companies if You Have a Pool

The average Oklahoma homeowners insurance rates for properties with pools will not be the same as a standard policy. MoneyGeek found that the most affordable option for a pool home with an average dwelling coverage baseline of $250,000 is Allstate, which offers an average annual premium of $2,869. For additional protection, you may want to include liability coverage. By including this coverage, you get protection against possible lawsuits if a pool accident in your property causes injuries.

Cheapest Homeowners Insurance for Pool Home
Company
Amountper year
1. Allstate
In 2020, Allstate ranked #1 in Oklahoma for the cheapest homeowners insurance for homes with a pool.
$2,869
2. Farmers
In 2020, Farmers ranked #2 in Oklahoma for the cheapest homeowners insurance for homes with a pool.
$3,119
3. Chubb
In 2020, Chubb ranked #3 in Oklahoma for the cheapest homeowners insurance for homes with a pool.
$3,165
4. USAA
In 2020, USAA ranked #4 in Oklahoma for the cheapest homeowners insurance for homes with a pool.
$4,242
5. Travelers
In 2020, Travelers ranked #5 in Oklahoma for the cheapest homeowners insurance for homes with a pool.
$4,454

Cheapest Home Insurance in Oklahoma if You Have Poor Credit

Another important factor that companies use to estimate homeowners insurance in Oklahoma is your credit score. Homeowners with poor credit will often get more expensive annual premiums. So, if you think you have poor credit, you can start improving it by paying off all outstanding credit card debts and ensuring that your utilization rate remains below 30%.

Chubb is the cheapest option among the insurance providers that offer policies catering to Oklahoma homeowners with poor credit. Chubb’s policy may cost an average of $2,682 per year for an average dwelling coverage baseline amount of $100,000.

Cheapest Homeowners Insurance for Poor Credit
Company
Amountper year
1. Chubb
In 2020, Chubb ranked #1 for the cheapest homeowners insurance for owners with poor credit in Oklahoma.
$2,682
2. USAA
In 2020, USAA ranked #2 for the cheapest homeowners insurance for owners with poor credit in Oklahoma.
$3,592
3. Travelers
In 2020, Travelers ranked #3 for the cheapest homeowners insurance for owners with poor credit in Oklahoma.
$4,132
4. AAA
In 2020, AAA ranked #4 for the cheapest homeowners insurance for owners with poor credit in Oklahoma.
$4,456
5. Allstate
In 2020, Allstate ranked #5 for the cheapest homeowners insurance for owners with poor credit in Oklahoma.
$4,981

How to Get Homeowners Insurance Quotes in Oklahoma

To get accurate quotes, you will have to disclose certain pieces of information to the insurance provider. Companies may ask you for your name, age, address, and social security number. Aside from these, insurance carriers will also evaluate other relevant factors to calculate your annual premium.

You may have to inform them about the home’s age, the materials used, what type of home it is, its current condition and the estimated cost if it requires rebuilding. Any additional features like energy-efficient construction and home security systems will also impact how much your homeowners insurance in Oklahoma will cost.

Auto Insurance Rates

Compare Home Insurance Rates

Ensure you're getting the best rate for your home insurance. Compare quotes from the top insurance companies.

Other Considerations for Homeowners Insurance in Oklahoma

When getting homeowners insurance in Oklahoma, you should consider the various risk factors in your area. Find out if there are certain hazardous weather conditions that often strike the area. If there are any, it will be best to be ready for emergencies by getting additional coverages.

For instance, Oklahoma ranks 8th in the nation when it comes to wildfire risk. Around 153,400 properties, or 9%, are at risk of wildfires.

Crime rates also play a role in evaluating the risks associated with your property. The FBI reported 18,380 violent crimes and 113,364 property crimes in the state in 2018, which makes Oklahoma the 9th highest state in the nation in terms of crimes.

As for the average home value, Oklahoma is among the most affordable states. It ranks 48th with an average of $128,934.


Do You Need Flood Insurance in Oklahoma?This is an icon

Oklahoma ranks 41st when it comes to flooding, with 168,900, or 7.6%, properties at risk of flooding. You can find out if you live in a high-risk area through the Flood Insurance Rate Maps (FIRM) of the Federal Emergency Management Agency (FEMA). Insurance companies do not directly offer flood insurance, so you will have to check if your community is participating in government-sponsored National Flood Insurance Program (NFIP) coverage.

Do You Need Hail Insurance in Oklahoma?This is an icon

Oklahoma ranks 5th in terms of the number of hail events. The state records an average of 524 incidents annually.

Methodology

MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in Oklahoma that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Oklahoma. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $100,000, liability coverage of $100,000 and personal property coverage of $100,000.

Sources