Cheapest Homeowners Insurance in Oklahoma (2024 Rates)


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Updated: May 22, 2024

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In Oklahoma, various affordable home insurance providers can meet your specific requirements and budgets. While Oklahoma Farm Bureau emerges as the most cost-effective choice overall, notably excelling in policies for those with poor credit, Allstate offers the best rates for high-value homes. Shelter is the go-to for new home insurance, showcasing the state's range of affordable coverage solutions.

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2024

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Why Trust MoneyGeek? MoneyGeek used information from the Oklahoma Insurance Department and Quadrant Information Services to obtain data on insurance rates, discounts and other relevant information.

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These rates represent the most affordable home insurance quotes available in Oklahoma in 2024.

Overall Cheapest Homeowners Insurance in Oklahoma

Oklahoma Farm Bureau is the most affordable home insurance provider in Oklahoma — for $100K in dwelling coverage; the company charges an average of $1,533 per year. Remember that home insurance rates can vary based on your dwelling coverage. Here's how the Oklahoma Farm Bureau stacks up for increased coverage:

  • Cheapest for $100,000: Oklahoma Farm Bureau at $1,533 per year
  • Cheapest for $250,000: Oklahoma Farm Bureau at $3,218 per year
  • Cheapest for $500,000: Oklahoma Farm Bureau at $6,284 per year

Get a comparison for cheap home insurance on MoneyGeek for a comprehensive understanding of how rates are affected by dwelling coverage.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Oklahoma Farm BureauAnnual Premium$1,533
ShelterAnnual Premium$1,672
ChubbAnnual Premium$2,376
AllstateAnnual Premium$2,675
State FarmAnnual Premium$2,714
FarmersAnnual Premium$4,629
The HanoverAnnual Premium$4,739

Compare Oklahoma Home Insurance Quotes Online

Finding low-cost home insurance in Oklahoma involves checking rates from multiple insurance companies. MoneyGeek’s home insurance calculator is designed to provide quotes in Oklahoma easily, without requiring personal information upfront.

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Rates updated:

Jul 19, 2024

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Cheapest Home Insurance in Oklahoma for High-Value Homes

The most cost-effective home insurance for high-value homes in Oklahoma is from Allstate, offering $750K in dwelling coverage for $9,057 annually. Bear in mind that your dwelling coverage significantly impacts your home insurance cost, often correlating to a higher outlay for pricier homes. Consider these affordable alternatives:

  • Cheapest for $750,000: Allstate at $9,057 per year
  • Cheapest for $1,000,000: Allstate at $11,889 per year

Homeowners are advised to purchase coverage equivalent to their home's replacement expense, separate from the property value. For more clarity and options on cheap home insurance, check out MoneyGeek's table.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
AllstateAnnual Premium$9,057
Oklahoma Farm BureauAnnual Premium$9,183
State FarmAnnual Premium$11,195
ShelterAnnual Premium$12,754
FarmersAnnual Premium$16,014
ChubbAnnual Premium$17,036
The HanoverAnnual Premium$32,454

Cheapest Home Insurance in Oklahoma for New Homes

The most affordable home insurance policy in Oklahoma for new homes with $100K in dwelling coverage is from Shelter, costing $1,049 per year. In Oklahoma, insuring newer homes comes at a lower price largely because they are less likely to have maintenance or structural problems that can lead to claims. To further break it down:

  • Cheapest for $100,000: Shelter at $1,049 per year
  • Cheapest for $250,000: Allstate at $2,527 per year
  • Cheapest for $500,000: Allstate at $3,701 per year

You can refer to MoneyGeek's table to see how rates for newly constructed homes vary depending on the dwelling coverage value.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ShelterAnnual Premium$1,049
Oklahoma Farm BureauAnnual Premium$1,533
State FarmAnnual Premium$1,628
ChubbAnnual Premium$1,706
AllstateAnnual Premium$1,707
The HanoverAnnual Premium$3,108
FarmersAnnual Premium$3,408

Cheapest Home Insurance in Oklahoma for Low Credit Scores

In Oklahoma, Oklahoma Farm Bureau offers the most affordable home insurance for those with poor credit for $100K in dwelling coverage, charging $2,181 per year. Your credit score significantly affects home insurance rates since insurers deem it a predictor of payment default risk.

  • Cheapest for $100,000: Oklahoma Farm Bureau at $2,181 per year
  • Cheapest for $250,000: Oklahoma Farm Bureau at $4,580 per year
  • Cheapest for $500,000: Oklahoma Farm Bureau at $8,945 per year

A poor credit score impacts the cost, as the average home insurance fee for $100K in dwelling coverage is $9,448 per year for those with poor credit, against $2,905 for good credit holders. Check MoneyGeek's table below to see how rates change based on differing credit scores and dwelling coverage.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Oklahoma Farm BureauAnnual Premium$2,181
ShelterAnnual Premium$3,260
ChubbAnnual Premium$4,564
State FarmAnnual Premium$6,107
AllstateAnnual Premium$6,268
The HanoverAnnual Premium$20,740
FarmersAnnual Premium$23,015

Cheapest Home Insurance in Oklahoma With a Claims History

Shelter is the cheapest home insurance company in Oklahoma for those with a claim in the past five years, offering $100K in dwelling coverage for $1,911 annually. However, remember that insurers generally deem homeowners with past claims to be higher risk, causing higher future premiums.

  • Cheapest for $100,000: Shelter at $1,911 per year
  • Cheapest for $250,000: Oklahoma Farm Bureau at $4,224 per year
  • Cheapest for $500,000: Allstate at $8,010 per year

It's worth noting that homeowners who've had two claims in the past five years see their premiums grow by an average of $889 per year compared to claim-free homeowners, suggesting sizable savings for maintaining a claim-free record in Oklahoma.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ShelterAnnual Premium$1,911
Oklahoma Farm BureauAnnual Premium$2,012
ChubbAnnual Premium$2,376
State FarmAnnual Premium$3,096
AllstateAnnual Premium$3,397
FarmersAnnual Premium$4,738
The HanoverAnnual Premium$4,826

Cheapest Home Insurance in Oklahoma by Home and Roof Materials

The type of home construction and roofing materials heavily influence the cost of home insurance. For example, in Oklahoma, the most affordable premium for a home with frame construction and a shake-treated roof is offered by Shelter, with an annual premium of $1,672. These factors increase insurance costs largely because homes built with these materials are more susceptible to structural damage.

Here's a snapshot of the most cost-effective home insurance companies in Oklahoma and their corresponding premiums for three differing coverage amounts:

  • Cheapest for $100,000: Shelter at $1,672 per year
  • Cheapest for $250,000: Allstate at $3,871 per year
  • Cheapest for $500,000: Allstate at $6,274 per year

A comparison of average annual premiums demonstrates a difference of $677, with superior home construction and a tile roof leading to reduced premiums. With Oklahoma's frequent extreme weather, higher-grade construction and roofing materials can yield significant long-term savings on home insurance costs. Your choice in construction and roofing matters, and they can offer financial benefits down the line.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
ShelterAnnual Premium$1,672
Oklahoma Farm BureauAnnual Premium$1,907
ChubbAnnual Premium$2,376
AllstateAnnual Premium$2,661
State FarmAnnual Premium$2,930
FarmersAnnual Premium$4,997
The HanoverAnnual Premium$5,303

Cheapest Home Insurance in Oklahoma by Deductible

Switching up your deductible can save you hundreds each year. For example, in Oklahoma, the cheapest home insurance for a $2,000 deductible is from Oklahoma Farm Bureau, with an annual premium of $1,348. This is lower than the cheapest for a $500 deductible, also from Oklahoma Farm Bureau, which costs $1,533 per year.

For $100K in dwelling coverage, here are the cheapest companies in Oklahoma by deductible:

  • $2,000 deductible: Oklahoma Farm Bureau at $1,348 per year
  • $1,500 deductible: Oklahoma Farm Bureau at $1,348 per year
  • $1,000 deductible: Oklahoma Farm Bureau at $1,533 per year
  • $500 deductible: Oklahoma Farm Bureau at $1,533 per year

In home insurance, the deductible is what you pay before insurance covers the rest. On average, a $500 deductible costs $3,218, while a $2,000 deductible costs $2,628 — a difference of $595.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Oklahoma Farm BureauAnnual Premium$1,348
ShelterAnnual Premium$1,362
ChubbAnnual Premium$2,136
AllstateAnnual Premium$2,317
State FarmAnnual Premium$2,501
The HanoverAnnual Premium$4,177
FarmersAnnual Premium$4,558

Cheapest Home and Auto Insurance Bundle in Oklahoma

Get the best bargain on your home and auto bundle policy in Oklahoma with State Farm, offering an unbeatable annual premium of $4,126. By bundling home and auto insurance together, you can access major discounts:

  • State Farm at $4,126 per year
  • Allstate at $4,751 per year

Beyond just savings, bundling provides the convenience of managing both policies with the same insurer. This streamlines the insurance handling process, allowing for effective policy management and one point of contact. Discover more about the best Oklahoma insurance bundle to start saving now.

State FarmAnnual Premium$4,126
AllstateAnnual Premium$4,751
FarmersAnnual Premium$6,714

Cheapest Home Insurance in Oklahoma by City

Oklahoma Farm Bureau provides the most affordable home insurance in many Oklahoma cities, with rates ranging from $1,469 to $1,622. Costs can largely differ between cities due to variations in local building codes, crime rates and weather-related risks.

  • In Broken Arrow, the annual premium with Oklahoma Farm Bureau is at its cheapest at $1,469.
  • Conversely, in Oklahoma City, rates are most expensive at $1,622 annually, even for its cheapest provider, Oklahoma Farm Bureau.

It's beneficial to shop around as insurers often use unique calculations for rates in different geographic areas, which could lead to significant savings.

Broken ArrowCheapest CompanyOklahoma Farm BureauAnnual Premium$1,469
NormanCheapest CompanyOklahoma Farm BureauAnnual Premium$1,573
Oklahoma CityCheapest CompanyOklahoma Farm BureauAnnual Premium$1,622
TulsaCheapest CompanyOklahoma Farm BureauAnnual Premium$1,475

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.