The Best Cheap Homeowners Insurance in Tulsa, Oklahoma for 2022: Quotes and Reviews
In Tulsa, Oklahoma, homeowners spend an average of $2,133 annually — or $178 per month — on home insurance, but rates can vary widely depending on your provider. The cheapest provider, Chubb, costs $1,217 annually for the average homeowner, and the most expensive provider, AAA, costs $3,844. This dramatic price difference means that shopping around can save you as much as $2,627 per year. MoneyGeek analyzed rates from a broad range of insurers in the city to help you find the best homeowners insurance companies that balance affordability and quality service.
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The Cheapest and Best Homeowners Insurance in Tulsa
The Cheapest Home Insurance Companies in Tulsa
For an average homeowner looking for cheap homeowners insurance with $100,000 dwelling coverage limits, the best options in Tulsa are:
- Chubb: $1,217 per year
- Farmers: $1,548 per year
The more expensive your home, the higher your home insurance premium. The most affordable providers for homeowners with a policy that has dwelling coverage worth $2,000,000 are:
- Farmers: $9,233 per year
- Chubb: $16,131 per year
The table below shows how prices may change depending on your dwelling coverage limits.
The Cheapest Home Insurance in Tulsa, Ranked
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For standard policies with initial baseline dwelling coverage, the personal property limit is $40,000. Policies with dwelling coverage worth $2,000,000 have $800,000 personal property coverage limits. The liability coverage for all policies, regardless of personal property limits, is $100,000.
If you live in a city other than Tulsa, you may benefit from learning more about homeowners insurance rates in Oklahoma.
The Average Cost of Homeowners Insurance in Tulsa for 2021
The average cost of homeowners insurance in Tulsa is $2,133 per year. That means Tulsa homeowners typically pay premiums lower than state and national averages. The average rate in the state is $2,520, while the national average is $2,103
Calculate the Cost of Home Insurance in Tulsa
Where you live can affect your homeowners insurance Tulsa rates. Other factors, like dwelling coverage limits, personal property coverage limits and credit score, can also impact your premiums. Use MoneyGeek’s calculator to compare home insurance quotes in your state.
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These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Tulsa
Cost is a key factor to consider when looking for a homeowners insurance policy. However, you can also benefit from assessing each company’s customer service and financial stability. Most people only ever file claims during stressful and chaotic times, so it’s important to choose a provider with a quick and fair claim process.
When it comes to price, financial stability and customer service, MoneyGeek found that the best homeowners insurance companies in the city are:
- Best Overall: Chubb
- Runner-up: Farmers
In calculating final scores, MoneyGeek used a unique rating system based on affordability, user satisfaction and financial stability ratings.
One of the most appealing features of Chubb is that they don’t account for depreciation when calculating the cost to replace personal property. That means you can get new items of similar make and quality as your old belongings. Additionally, policyholders can receive payment to rebuild their home to its original condition after a covered peril, even if the cost of repair exceeds their policy limit.
Chubb is MoneyGeek’s top pick in Tulsa. The company has high ratings across all categories, including a perfect score in affordability.Read MoneyGeek's Chubb home Insurance Review
Farmers rewards policyholders for remaining claim-free, and if you don’t file any claims for five years, your rates won’t increase when you make a claim. The company also offers eco-rebuild coverage, which provides you with an additional $25,000 for rebuilding costs if you use green alternatives to replace damaged materials and appliances.
With high scores across categories, Farmers comes in second place. The company shines when it comes to customer satisfaction and financial stability.Read MoneyGeek's Farmers home Insurance Review
Cheapest Home Insurance Companies in Tulsa for Newly Constructed Homes
On average, homeowners insurance in Tulsa for newly constructed homes cost $1,515 per year, significantly less than the $2,133 average premium for a house built in 2000. In general, recently built homes tend to be cheaper to insure, as they have lower repair costs and are usually made with more damage-resistant materials.
The most affordable insurance companies in Tulsa for new homes with $100,000 dwelling coverage limits are:
- Chubb: $989 per year
- Farmers: $1,288 per year
The Cheapest Home Insurance in Tulsa for New Homes, Ranked
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Cheapest Home Insurance Companies in Tulsa if You Have a Lot of Personal Property
Homeowners insurance in Tulsa also includes personal property coverage for items you keep at home. You can increase your coverage limits to cover more expensive belongings, but your homeowner insurance costs will be higher. A policy with personal property limits of $250,000 costs $2,255 on average, compared to the $2,133 annual average for $100,000 in personal property coverage limits.
Based on average rates, the cheapest companies for a policy with high personal property limits are:
Chubb: $1,527 per year Farmers: $1,604 per year
Cheap Companies in Tulsa for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Tulsa for High Deductibles
Your deductible has a significant impact on your homeowners insurance Tulsa rates. Higher deductibles mean lower insurance premiums because you’ll pay more out-of-pocket money if you make a claim. A standard policy with a $2,000 deductible costs an average of $1,840 in Tulsa, while the average rate for a $1,000 deductible is $2,133.
The most affordable homeowners insurance providers in Tulsa for a high deductible policy are:
- Chubb: $1,040 per year
- Farmers: $1,499 per year
The Cheapest Companies in Tulsa for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Tulsa if You Have Poor Credit
Your credit score will also affect the cost of your homeowners insurance in Tulsa. Insurance companies tend to charge more to homeowners with low credit scores. For instance, the average cost of insurance for a homeowner with good credit is $2,133 per year. The average for homeowners with poor credit scores is $4,439, more than double the cost.
If you have a low credit score, the cheapest insurance companies in Tulsa are:
- Chubb: $2,226 per year
- Travelers: $3,613 per year
The Cheapest Companies in Tulsa for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Tulsa
Certain information is needed to get accurate homeowners insurance quotes in Tulsa:
- Home replacement cost –This refers to the estimated cost to rebuild your home if it’s damaged by a covered peril. To find out the replacement cost, you may have to hire a building contractor, appraiser or construction professional.
- Personal property value – How much your personal belongings are worth will determine your personal property coverage limits, which affects the cost of your insurance.
- Personal information – Insurance carriers will ask for your address. You may also need to disclose who lives in your home, your insurance history, credit score and other personal details.
- Information about your house – Insurance companies will need to know details like when your home was built, how big it is and what safety devices you have.
Homeowners Insurance in Tulsa Analysis: Methodology
For this study, MoneyGeek analyzed average insurance rates from eight companies in Tulsa. All data was collected in partnership with Quadrant. In calculating affordability scores, MoneyGeek used quotes for policies with varying coverage levels. For instance, the base profile is for a 2,500-square-foot home built in 2000. The policy has a dwelling coverage of $100,000, personal property coverage of $40,000 and liability coverage of $100,000. The deductible is $1,000. For the customer satisfaction ratings, MoneyGeek used data from J.D. Power surveys.
MoneyGeek also collected average insurance rates for homeowners with newly constructed homes, higher dwelling coverage, increased personal property coverage limits, higher deductibles and low credit scores.
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