Oklahoma Homeowners Insurance Calculator: Estimate Your Policy Cost
MoneyGeek’s Oklahoma home insurance calculator considers factors like home value and personal property limit. The average cost of homeowners insurance in Oklahoma for $250K in dwelling coverage is $5,241 per year.
Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
If you’re on a budget, MoneyGeek found the cheapest homeowners insurance companies in Oklahoma based on different homeowner profiles. We found that Chubb offers the most affordable premium overall.
To determine the top home insurance providers in Oklahoma, we examined various companies based on customer service quality and affordability. Keep in mind that the best option for you should be based on your unique needs.
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How to Estimate the Cost of Your Homeowners Insurance Policy in Oklahoma
A home insurance premium is different for each homeowner. Your deductible, dwelling coverage, location, personal property and other factors influence your home insurance rate in Oklahoma.
Below, you can enter this information into MoneyGeek’s Oklahoma home insurance calculator. We also dive into the different factors so you can understand how each affects the cost of homeowners insurance.
Your location is a huge factor that impacts the cost of homeowners insurance. If you live in an area with high crime rates or frequent natural disasters, expect to pay a higher premium.
Conversely, those who live in areas with a low likelihood of these events pay a cheaper rate. That is because insurance companies consider the risk level of your area.
The amount of dwelling coverage you have affects your homeowners insurance premium in Oklahoma. Dwelling coverage protects against expenses in the event of damage or a total loss.
It’s wise to contact a professional appraiser or reach out to your insurance company to determine a sufficient dwelling coverage amount. You should account for how much it will cost to repair or rebuild your home in case of severe damage.
The average dwelling coverage amount in Oklahoma is $100K.
Your deductible is how much you contribute if you file a claim for a covered peril.
For example, your claim is for $15,000, and you have a $2,000 deductible for your home insurance. Your insurance provider will cover $13,000 after you pay $2,000.
Opting for a higher deductible means you pay a lower monthly premium.
Liability insurance covers expenses if someone is injured or their property is damaged because of your negligence. It includes coverage for medical bills, legal costs, death benefits, replacement costs and pain and suffering costs.
Consider increasing your liability limit if you want more protection. It may only cost a couple of dollars each month to raise your liability coverage by tens of thousands of dollars.
Personal property includes everything that you own except for your home’s structure. It covers items, whether inside or outside your house.
Theft is one of the covered perils you get with personal property coverage. Use MoneyGeek’s calculator to figure out how much you’ll need. That way, you’ll get appropriate protection for your belongings.
The cost of your homeowners insurance in Oklahoma also varies based on your credit score. Individuals with poor credit histories tend to pay a higher premium. Insurance providers consider them high-risk since they may be more likely to file a claim. Hence, homeowners with good credit pay a more affordable rate.
Average Cost of Home Insurance in Oklahoma
Oklahoma is the most expensive state to purchase home insurance, on average. Just in a year alone, Oklahoma homeowners should anticipate paying around $5,241 for a homeowners insurance policy with $250K dwelling coverage. Compared to the national average, Oklahoma residents pay almost 117% more.
MoneyGeek created a table below which displays the corresponding annual premium based on dwelling coverage. It can help you determine how much the dwelling coverage you need may cost in your monthly budget for home insurance in Oklahoma.
Average Annual Premium in Oklahoma for Homeowners Insurance
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- Dwelling Coverage AmountAverage Annual Premium
If you’re unsure about the amount of dwelling coverage you need, it’s important to consider the cost of rebuilding your home. How much would you need to pay in the event of a total loss?
It’ll help to talk to a professional home appraiser, a real estate agent or your insurance company to determine an ideal amount of dwelling coverage. They will suggest an amount based on your home’s size, age, building materials and more. You don’t want to have too much or too little dwelling coverage since it can cost you more long-term.
Average Cost of Home Insurance in Oklahoma Cities
The cost of homeowners insurance in Oklahoma varies based on the city in which you live. Browse the table below to estimate how much the rates are in Oklahoma cities.
Average Annual Premium in Oklahoma Cities for Homeowners Insurance
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- CityAverage Annual Premium ($100K Dwelling Coverage)Average Annual Premium ($250K Dwelling Coverage)
- Oklahoma City$4,639$6,071
If cost isn’t an issue, MoneyGeek recommends Allstate, the overall best homeowners insurance company nationwide. We selected it as the top provider based on how well it balances affordability and quality service.
You can read more about MoneyGeek’s thorough analysis of home insurance companies to find a suitable company for you. A good rule of thumb is to consider your finances and property, like if you own an expensive home, and personal circumstances, such as whether you are part of a military family.
Frequently Asked Questions About Home Insurance in Oklahoma
Looking for a suitable homeowners insurance policy in Oklahoma can create questions. To help you, MoneyGeek answered commonly asked questions that homeowners may find helpful.
To determine the average cost of homeowners insurance in Oklahoma, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance. This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius from a fire department
- Assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
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