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Oklahoma Homeowners Insurance Quotes - Best and Cheapest (2022)
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According to 2021 rates, the average cost of homeowners insurance in Oklahoma is $3249 per year and $271 per month. Oklahoma homeowners insurance rates are $1851 per year more then the national average and about 132% more annually. When compared to the other US states that makes the cost of homeowners insurance in Oklahoma the 2nd most expensive in the country, based on 2021 data.
For shoppers, the best way to find a homeowners insurance policy in Oklahoma is to evaluate all of the quotes from individual insurance providers and then decide on the policy that fits your requirements and budget level. Fortunately finding the right homeowners insurance coverage is easy with a tool like Insurify.
Insurify provides easy and fast home insurance quote comparisons for all kinds of homeowners nationwide. Insurify has helped thousands of customers receive accurate homeowners quotes for your property in Oklahoma in minutes.
|Oklahoma Average Homeowners Insurance Rates|
|Average Cost Per Month||$271|
|Average Annual Premium||$3249|
|State Rank (Most Expensive)||2nd|
For homeowners in Oklahoma, 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. The following are the best insurance rates from carriers that offer homeowners insurance in Oklahoma.
With Oklahoma's real estate prices and living expenses below the national average, it's no wonder why you would want to buy a new home or keep living in the Sooner State. Life in Oklahoma has its trade-offs: on the one hand, you have friendly neighbors, cheap living, and a beautiful western landscape, and on the other, you have tornadoes, hail storms, and high insurance costs.
Home insurance in Oklahoma is a necessity. From natural disasters to vandalism and theft, several things can result in damage to your home and personal belongings. Finding protection with the right home insurance policy can be difficult especially if you want to pick and choose your dwelling coverage and additional coverage options.
There is insurance coverage waiting for you and your family to take advantage of at lower prices from Oklahoma City to Tulsa.
Keep reading as you learn the ins and outs of saving on Oklahoma homeowners insurance.
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.
As of 2021, the average home insurance premium in Oklahoma costs $5,397 annually, and the median home value is $132,465
The cost of Oklahoma home insurance comes with a higher price tag than the rest of the country. The good news is, the Oklahoma real estate market is a good investment in 2020. The value of rental properties and single-family homes are at a steady increase, thanks to the growing job market in aerospace, bioscience, aviation, and financial services in Oklahoma City.
So, if you own a home, your investment could pay off in the long run. Either way, you need to protect your investment with home insurance. Here are some tips to help you save on Oklahoma home insurance while giving you and your family peace of mind.
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Home insurance rates in the state of Oklahoma can depend on a variety of factors, including what your property type is, what kind of coverage you are purchasing, any additional coverage, your credit score, and the risk on your home.
Risk is dependent on ZIP code–unique variables such as the claims history in your area, crime rates in your city, property value, and extreme weather frequency. No town or neighborhood is priced the same when it comes to home insurance rates. These risk variables set your annual premiums.
Rates in Oklahoma city vary from being relatively high or low compared to the national average. In the end, it will all come down to which town you reside in. Take a look at the most and least expensive ZIP codes in Oklahoma for home insurance.
|City||Average Annual Cost|
There are several types of home insurance. Specific terms of insurance policies may vary by state, 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:
Broad form homeowners insurance policies include all basic form coverage, plus:
In Oklahoma, there are over 730 mobile home parks. If you live in a mobile home, then you will need mobile home insurance in Oklahoma. Hail, tornadoes, theft, and vandalism are perils that your mobile or manufactured home could face. Mobile home insurance policies ensure you have coverage for the cost of replacement and repairs associated with such perils. Not to mention, the attached structures on your property, like your garage, personal belongings, and patio, will need protection as well.
Pricing for mobile home insurance in Oklahoma can vary greatly. Natural disaster claims, crime rates, and your ZIP code affect how much you will pay on mobile home insurance premiums. Some of the best home insurance carriers for mobile home insurance in Oklahoma include Farmers, Allstate, and American Farmers & Ranchers. Most insurance providers will recommend an HO-7 policy, much like an HO-3 policy, made for mobile and manufactured homes when stationary. There is a unique policy required for mobile homes in transit. Talk to your local agent to find out more about particular policies for your mobile home.
Of course, you can use Insurify to get the best online quote in minutes from the best homeowners insurance companies , like State Farm, USAA, Liberty Mutual, and Farmers insurance.
It's no surprise that Oklahoma has the most tornadoes in all the United States. With tornadoes come hail storms. Ice storms are also common in Oklahoma. This causes higher annual homeowners insurance premiums. While homeowners insurance covers tornado and hail damage, you have to know if you have the correct limits in place. As a rule of thumb, your limits should be set to cover the costs of repairs or rebuild your home after the unthinkable happens. Talk to your local agent about additional coverage in cases where repair or rebuild costs are not entirely covered.
It's common for natural disasters to involve flooding, even if you do not live in a flood zone. Flood insurance is not provided to homeowners insurance policyholders, so it's essential to figure out how you will cover water damage due to flooding. The Insurance Information Institute suggests purchasing separate insurance products through the National Flood Insurance Program (NFIP) or private insurers.
Because agriculture is important in Oklahoman life, the Oklahoma Farm Bureau protects farmers and ranch families by standing beside them as advocates. Their mission is to provide "a voice to farmers, ranchers, and rural Oklahomans" regardless of what they farm or raise or where they are in Oklahoma. The Bureau has developed and implemented agricultural policies to supply affordable food across the state. Through membership, aid is available to farmers, ranchers, and other rural members in times of crisis.
Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Oklahoma.
If your home is within a certain distance from a fire department or fire hydrant your rates may decrease. The same applies for the opposite. If your home is far from fire safety, you may pay more for homeowners insurance.
|Insurance Company||Average Annual Premium|
The age of your home and its major systems may affect the policy rate you're quoted by insurance companies
|Insurance Company||Average Annual Premium|
|Oklahoma Farmers Union||$5,980|
Residents of the Sooner State are no stranger to their fair share of tornadoes and hail storms. But the friendliest neighbors, the rich landscape, and history make up for the frequency of such disasters. Thankfully, you can save a ton by pulling quotes from the best and cheapest Oklahoma insurance companies. Try it out yourself!
Use Insurify to compare home insurance premiums for your property in Oklahoma. Our comparison tools make homeowners insurance shopping (and saving) simple so you can be on your way to enjoying your newly insured home in no time.
It is possible to purchase home insurance and auto insurance together, also known as bundling. Bundling can help you save on the average cost of homeowners insurance by providing discounts. Check with your local agent for bundling opportunities.
No, homeowners insurance in Oklahoma does not cover flooding. It is important to purchase a separate flood insurance policy for covered loss in a flood event.
Oklahoma homeowners insurance is more expensive than the national average due to the number of natural disasters and extreme weather, including tornadoes, hail storms, and ice storms. Claims go up after such events, driving annual premiums up. However, Insurify can help you save by comparing the most affordable home insurance options on the market.
The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.
Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.
With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.