Average Costs and Cheapest Homeowners Insurance Companies in Oklahoma

Various factors affect home insurance costs. In Oklahoma, Chubb is your best choice if you’re looking for the cheapest home insurance overall and if you have a poor credit score. In addition, you can go to Farmers for the lowest rates if you’re insuring a high-value house and to Allstate if you’re insuring a house with a pool. MoneyGeek collected thousands of quotes from different providers to calculate average rates and find the most affordable homeowners insurance companies in Oklahoma for you.

MoneyGeek used costs and service measures to break down the best homeowners insurance providers in Oklahoma if you want to balance cost and quality.

MoneyGeek evaluated thousands of quotes from insurance companies across the state and for different dwelling coverages to determine the cheapest homeowners insurance in Oklahoma. Our research shows the most affordable policies with a baseline dwelling coverage of $100,000 are from Chubb. On average, their policies go for $1,464 per year.

In addition, you can find the cheapest rates for the following dwelling coverages from these providers:

• Cheapest for $100,000: Chubb, $1,464 per year
• Cheapest for $250,000: Allstate, $2,941 per year
• Cheapest for $500,000: Allstate, $4,814 per year

The amount of dwelling coverage you need is based on your home’s replacement cost. Generally, the more expensive your house, the more coverage you’ll need. You can use the table below to see how dwelling coverage levels affect insurance costs.

Your home insurance costs are directly related to the amount of dwelling coverage you choose. Increasing your coverage will result in higher premiums; however, higher dwelling coverage provides more financial protection in case of a disaster.

The baseline dwelling coverage in Oklahoma is $100,000, and the average cost in the state is around $2,520 per year. For $3 million in dwelling coverage, the average cost is approximately $47,240 per year.

Homeowners insurance rates in Oklahoma also vary because of other criteria. Insurance carriers will consider your home’s value, age, roof quality, location, how near you are to a fire station, whether you have a pool, if you have an aggressive dog breed and the deductible you choose.

You can change your coverage limits, deductible and other limits to see how the average cost of homeowners insurance in Oklahoma changes based on your needs.

MoneyGeek analyzed thousands of quotes for different dwelling coverages to help folks find Oklahoma’s most affordable homeowners insurance.

For those with a high-value property that need $2 million in dwelling coverage, our pick for Oklahoma home insurances companies with the best rates are:

• Farmers: $12,472 per year
• Allstate: $17,243 per year

Insurance rates can significantly change from one provider to another when it comes to expensive homes. Shopping around and comparing quotes from several insurers is the best way to find the most inexpensive rates in Oklahoma.

MoneyGeek obtained thousands of quotes from insurance companies across the state to help new homeowners find the cheapest rates in Oklahoma. We determined prices for a house built in 2015 and a homeowner looking for $250,000 dwelling coverage.

Based on our findings, these insurers offer the best rates in Oklahoma:

• Allstate: $2,140 per year
• Chubb: $2,570 per year

Additionally, USAA offers affordable rates for new homeowners in Oklahoma at approximately $2,373 per year. However, the insurer serves military members and their families exclusively.

Your home’s age can affect the price of homeowner’s insurance in Oklahoma. Houses built in 2015 cost $1,050 less to insure than those built in 2000.

Note that our numbers for homes built in 2000 may vary from the first section in the guide due to a different ZIP code collection process.

In Oklahoma, insuring a newer house costs around $2,702 per year, while insurance for a home constructed in 2000 is approximately $3,751 per year.

Older homes are more expensive to insure because they are more costly to replace and riskier due to their older materials. Those older materials are less resistant to fire and weather events. Wear and tear is another factor, and age-related events, like burst pipes, are more likely to occur. Because homeowners with older houses tend to file more claims, insurance companies charge more for insurance.

MoneyGeek averaged thousands of quotes to find the cheapest Oklahoma homeowners insurance provider for homeowners with pools. Our pick for those looking for insurance with baseline coverage of $250,000 are:

• Allstate: $2,869 per year
• Farmers: $3,119 per year

A pool increases a house’s value and potential repair costs, so insurers charge more for having it. 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.

Having a pool can increase your home insurance prices by a few dollars in Oklahoma. If you’re looking for home insurance with a $250,000 dwelling limit and you have a pool, you’ll pay approximately $3,764 per year. On the other hand, you’ll pay $3,751 per year on average without a pool.

MoneyGeek obtained and averaged thousands of home insurance quotes from companies across Oklahoma to help people with poor credit scores look for affordable home insurance.

Our study finds that the most inexpensive insurers for homeowners with poor credit and $100,000 baseline coverage are:

• Chubb: $2,682 per year
• Travelers: $4,132 per year

Military members, veterans and their families in Oklahoma with poor credit scores can also consider USAA for inexpensive home insurance. At $3,592, it is the second cheapest insurer in this case.

Insurance companies use credit records to assess a homeowner’s risk profile. Providers may find those with poor credit scores more likely to file a claim or miss a bill payment, so they charge higher rates.

A homeowner’s credit background influences their home insurance rates.

Insurance companies may consider someone with a good credit score as safer to insure, charging them less for home insurance. In Oklahoma, homeowners with good credit scores pay roughly $4,719 per year, while those with poor credit scores are charged around $9,727 per year. Your credit score can affect your insurance premiums by up to $5,008.

Where you live in Oklahoma affects your home insurance cost and who the cheapest provider is for you.

MoneyGeek analyzed home insurance rates with a $100,000 swelling coverage baseline in Oklahoma City and Tulsa. Residents of those cities pay an average of $2,907 and $2,133 per year, respectively. Chubb provides the most affordable prices for both cities.

You can click your city in the table below to learn more about how location impacts insurance costs.

To get binding home insurance quotes, you will have to disclose certain pieces of information to the insurance provider. Companies will need 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 your home’s age, the materials used in its construction, what type of home it is, its current condition and its estimated replacement cost. Additional features like energy-efficient construction and home security systems will also impact how much your homeowners insurance in Oklahoma costs.

You can also use MoneyGeek’s Oklahoma home insurance calculator to receive an anonymous estimate. We calculate rates based on thousands of quotes from home insurance companies across the state.

MoneyGeek analyzed homeowners insurance premiums from eight 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.