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Edited by John Leach
Last Updated February 28, 2022
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Tulsa, OK Homeowners Insurance
Tulsa, Oklahoma, was once historically robust in big oil. Today, Tulsa is diversified in finance, aviation, telecommunications, and technology. These sectors bring people from all walks of life to the city. Did you recently move to Tulsa? Or are you planning a move? Even if you’ve lived in Tulsa for a long time, you know that it is a great city to live in with lower living expenses than the national average. Tulsa has a dense suburban feel and friendly neighbors. Mixed in are a good selection of bars, restaurants, and parks that offer various things to do without breaking the bank.
Tulsa was named one of the most liveable large cities by Forbes. You’ll notice that most residents love their city so much that they’ve bought a permanent residence in the area. But even with most residents owning homes at lower prices, homeowners still need a way to save where they can. Tulsa is known for being in tornado alley, which consistently leads to significant destruction. And rebuilding comes at a high price. Homeowners insurance is the perfect way to enjoy life while protecting everything you love and saving money.
From Broken Arrow to Bixby, comparing and saving on home insurance has never been so easy. Use Insurify to find the best and cheapest home insurance in Tulsa, Oklahoma, today!
Cheapest Home Insurance Companies in Tulsa
For homeowners in Tulsa, 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 Tulsa. The following are the best insurance rates from carriers that offer homeowners insurance in Tulsa.
|oklahoma farm bureau||$2,775|
How to Find Cheap Home Insurance in Tulsa
The Tulsa real estate market is on fire. The competitive housing market has increased home sale prices by over 20 percent year over year. If you’ve battled in the competitive housing market, you don’t take your property ownership investment for granted. But there are risks with property ownership, too. And the only way to have peace of mind with these risks is home insurance.
Homeowners insurance is financial liability protection on your home and personal belongings. It can help to have this protection in the event of natural disasters, fire, and theft. The typical homeowners insurance policy has different coverage options. It all depends on the type of property you own, the location, and other factors, like crime rates. There’s a home insurance policy for everyone at the right price in Tulsa, Oklahoma.
Whether you live in Jenks or Owasso, keep reading for a full guide on Tulsa home insurance.
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Cheapest Home Insurance in Tulsa 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 Tulsa costs $5,397 annually, and the median home value is $136,967.
While home insurance rates are on the higher side, Tulsa ’s home prices are below the national average. Tulsa is regarded as being one of the most affordable cities to live in. Thankfully, saving on living expenses means you can afford to purchase additional coverage. For instance, you may need coverage for natural disasters that aren’t generally covered by a homeowners policy, like flooding.
Because you have so many options, you’ll want to go with the best insurance company in Tulsa. From State Farm to Allstate, it’s best to get compare home insurance quotes before purchasing a homeowners policy.
Take a look at the most affordable homeowners insurance companies in Tulsa, Oklahoma.
|Average Home Cost in Tulsa||Average Annual Insurance Premium in Tulsa|
Average Annual Home Insurance Premium in Tulsa by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cheapest ZIP Codes in Tulsa for Home Insurance
Tulsans love how quaint and lowkey living in their city can be. But it’s true that certain areas in Tulsa have higher crime rates than others. The FBI has listed Tulsa as the 14th most dangerous city in the United States. High crime rates mean a rise in theft and vandalism risks, which directly impacts insurance rates.
Like property costs, home insurance varies in price from city to city. 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 Tulsa can be relatively high or low compared to the national average; it all depends on which area you live in. Here are the most and least expensive ZIP codes in Tulsa for home insurance.
Home Insurance Coverage Types in Tulsa
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),
- 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.
Tulsa Home Insurance and Natural Disasters
Nothing is as unpredictable as a tornado. Like the rest of tornado alley, Tulsa, Oklahoma, is no stranger to violent twisters. Your home could become destroyed in an instant. And if you don’t have the right coverage, you could end up paying more than you should after a violent storm. Windstorms are typically included with property insurance. But specific issues stemming from storms, like flooding, are not covered. It’s up to you to purchase separate flood insurance. Most people buy flood insurance through the National Flood Insurance Program (NFIP). Ask your insurance agent about options regarding separate insurance.
The Best Home Insurance in Tulsa
Multiple factors contribute to getting the best price on homeowners insurance in Tulsa. But what most people don’t know is that you can bundle insurance products like life insurance with home insurance and get a deal. Most insurance companies love when you purchase multiple insurance policies from them. For example, you could bundle auto insurance and home insurance together under one insurer. The insurance companies want to sell as many life insurance, home insurance, and auto policies as possible. Their reward to you could be significant savings for bundling.
The best way to find out if you’re getting the best insurance at the right price? By getting your free quote now. Use Insurify, the best way to compare home insurance, compare and save now!
How to Find the Cheapest Home Insurance in Tulsa
Tulsa, Oklahoma, can be a laid-back place to live. Yet the risks of property crime and natural disasters like tornadoes are also high. In turn, finding the cheapest homeowners insurance in Tulsa may seem like an overwhelming task. Thankfully, you came to the right place. You now have the tools to help you find the best or cheapest home insurance policy.
Use Insurify to compare home insurance premiums for your property in Tulsa.
Frequently Asked Questions
While most big insurance agencies, like State Farm and Allstate, offer bundling, your current insurer may not. Always ask your insurance agent about bundling products and discounts. If you’re looking for a great bundle deal, be sure to compare quotes to make sure you’re getting the best price on insurance.
Most big car insurance companies offer bundling deals with home and motorcycle insurance. If you already have a policy, be sure to ask your agent. If not, be sure to compare insurance policies so you can get the right coverage.
Umbrella insurance is also known as extra insurance. This type of insurance gives you protection beyond homeowners insurance coverage limits. You get extra coverage for things like property damage, personal liability, and lawsuits.
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