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Oklahoma City, OK Homeowners Insurance Quotes (2022)
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Edited by John Leach
Last Updated February 28, 2022
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Oklahoma City, OK Homeowners Insurance
Oklahoma City is the capital city of Oklahoma and the largest city in the Sooner State. It is steeped in cowboy culture, which is still a big part of life in Oklahoma City today. There’s no better place to learn all the cowboy folklore than in Oklahoma City ’s Western Heritage Museum. If you’ve chosen Oklahoma City as your home, you’ve made a great choice! It has an affordable cost of living, and housing costs are lower than the national average.
Oklahoma City offers family-friendly living, but as in any city, unexpected events are bound to happen, such as extreme weather events that can cause extensive damage to homes and property.
The best way to protect your Oklahoma City home and keep insurance costs down is by using Insurify to compare home insurance rates. The process is quick and easy. You can find the best price with an online quote for home insurance in only minutes!
Cheapest Home Insurance Companies in Oklahoma City
For homeowners in Oklahoma City, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Oklahoma City. The following are the best insurance rates from carriers that offer homeowners insurance in Oklahoma City.
| Cheapest Companies | Quotes |
|---|---|
| oklahoma farm bureau | $2,775 |
| USAA | $3,156 |
| Allstate | $3,503 |
| American Natonal | $3,668 |
| Farmers | $4,908 |
How to Find Cheap Home Insurance in Oklahoma City
Finding your dream home in Oklahoma City is not only gratifying but also one of the largest financial investments of your lifetime. With investment, inevitably, comes risk. However, there are steps homeowners can take to minimize risk and protect their investment.
The first step to protecting your property is homeowners insurance. Though not required by law, home insurance provides financial liability for your property and belongings from natural disasters and theft. Different coverage levels are available for different property types, locations, and other factors.
Keep reading for a full guide on Oklahoma City home insurance.
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Cheapest Home Insurance in Oklahoma City by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in Oklahoma City costs $5,397 annually, and the median home value is $169,064.
Home insurance rates in Oklahoma City vary depending on the insurance company and the coverage options you choose. You can make sure you get the cheapest home insurance by comparing rates from multiple home insurance companies.
Check out the premium comparisons below from top home insurance companies like Allstate, USAA, Liberty Mutual, and State Farm
| Average Home Cost in Oklahoma City | Average Annual Insurance Premium in Oklahoma City |
|---|---|
| $169,064 | $5,397 |
Average Annual Home Insurance Premium in Oklahoma City by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Oklahoma Farm Bureau$2,775
USAA$3,156
Allstate$3,503
American Natonal$3,668
Farmers$4,908
Shelter$5,980
State Farm$6,479
CSAA$7,480
Hanover$7,797
Cheapest ZIP Codes in Oklahoma City for Home Insurance
Like property costs, Oklahoma homeowners insurance rates for cities such as Edmond, Tulsa, Norman, and Oklahoma City will vary based on several determining factors.
Pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on your annual premiums.
Rates in Oklahoma City can be relatively high or low compared to the national average; it all depends on which area you live in.
Home Insurance Coverage Types in Oklahoma City
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- explosions,
- theft,
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Oklahoma city level guides, check out these below.
Oklahoma Home Insurance and Windstorm Coverage
If you live in Oklahoma City, you know that sooner or later, you are going to have a significant hailstorm. In 2020, Oklahoma City had 18 hail reports. Hail can range from the size of marbles to the size of tennis balls—and in some cases, even larger. Hailstorms damage roofs and other exterior surfaces of homes.
Policyholders will be relieved to know that homeowners insurance covers windstorm damage produced by hailstorms. However, in some areas prone to these types of weather events, there may be a separate windstorm deductible. Check with your insurance agent if you are in doubt of the windstorm coverage provided by your home insurance policy.
Purchasing Flood Insurance in Oklahoma City
Severe storms have caused flooding in Oklahoma City. Even a severe thunderstorm can cause flash flooding and cause floodwaters to enter homes, causing structural damage. Flooding can also cause damage to other home systems, including septic systems, appliances, and electrical systems.
The best way to protect your home from flood damage is by purchasing a flood insurance policy.
Flood insurance is administered by the National Flood Insurance Program (NFIP). You can find a local agent or an insurance agency approved to sell flood insurance by visiting the NFIP website.
How to Find the Cheapest Home Insurance in Oklahoma City
Finding the right homeowners insurance policy in the Sooner State can be challenging, but you can use Insurify to compare Oklahoma City home insurance quotes and find the best homeowners insurance coverage in only minutes!
Use Insurify to compare home insurance premiums for your property in Oklahoma City.
Frequently Asked Questions
Cybercriminals are becoming more sophisticated in their methods, increasing the possibility that you may become a victim of identity theft. Someone can steal your personal information and gain access to your passwords, bank accounts, and more. You can’t always prevent identity theft, but you can protect yourself against the damage it can cause. Most standard homeowners insurance policies do not provide protection for identity theft but often allow you to purchase additional coverage in the form of an insurance endorsement or a separate policy that provides identity theft protection. You can find identity theft protection coverage by using Insurify for comparison shopping and doing a side-by-side comparison of each company’s available insurance products.
Most homeowners policies provide some type of coverage for vandalism unless it is specifically excluded. Common forms of vandalism damage are landscape and tree damage, graffiti sprayed on garages or walls, and broken windows. One exception to vandalism coverage is for vacant homes. If a home has been vacant for an extended period of time, you may not be protected against vandalism. You can often add vandalism coverage to a vacant home by insurance endorsement or by purchasing a separate policy.
If your home is being repaired after a covered loss, it may be necessary for you to relocate until the repairs are completed. But relocating—even temporarily—can be expensive! Luckily, most homeowners insurance provides coverage for additional living expenses, which will help pay for food, gas, hotel bills, and other expenses you have before you can move back into your home.
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Insurance Content Project Manager
Jackie Cohen is an insurance content project manager at Insurify specializing in property & casualty insurance educational content. She has years of experience analyzing insurance trends and helping consumers better understand their insurance coverage to make informed decisions about their finances.
Jackie's work has been cited in USA Today, The Balance, and The Washington Times.