The Best Homeowners Insurance Companies and Cheapest Quotes in Oklahoma for 2021

Buying a home is the cornerstone of the “American Dream.” Equally as important to finding the right home is getting the right home insurance option. MoneyGeek evaluated numerous insurance companies in Oklahoma to help you find the best and cheapest options for one of the biggest investments of your life. You can find the best choice for your budget and circumstances, including homeowners with bad credit, homes with pools and high-value homes.

Loading...
By  
  |  

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
USAA
Score:94

4.4/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability

More About USAA

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
Allstate
Score:89

4.6/5

Affordability

4.2/5

User Satisfaction

4.5/5

Financial Stability

More About Allstate

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
Farmers
Score:89

4.5/5

Affordability

4.6/5

User Satisfaction

4/5

Financial Stability

More About Farmers

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
Travelers
Score:88

4.5/5

Affordability

3.9/5

User Satisfaction

5/5

Financial Stability

More About Travelers

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 Farm
Score:87

4.3/5

Affordability

4.1/5

User Satisfaction

5/5

Financial Stability

More About State Farm

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 equal to 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

$20,000

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

Scroll for more

swipe icon
  • Company
    Amountper year

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

Scroll for more

swipe icon
  • Company
    Amountper year

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

Scroll for more

swipe icon
  • Company
    Amountper year

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

Scroll for more

swipe icon
  • Company
    Amountper year

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.

Loading...

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.

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.

About the Author


expert-profile

The MoneyGeek editorial team has decades of combined experience in writing and publishing information about how people should manage money and credit. Our editors have worked with numerous publications including The Washington Post, The Daily Business Review, HealthDay, and Time, Inc., and have won numerous journalism awards. Our talented team of contributing writers includes mortgage experts, veteran financial reporters, and award-winning journalists. Learn more about the MoneyGeek team.


sources