Best and Cheapest Homeowners Insurance in Oklahoma as Rated by Customers in 2021
Who has the best homeowners insurance in Oklahoma?
Thinking about having to file a homeowners insurance claim is likely the last thing you want to worry about as a homeowner. Unfortunately, there are a number of things that may lead to a claim ranging from storm damage to a break-in or even an injury to a third party. Don't you want to have peace of mind that you have one of the best Oklahoma homeowners insurance companies to protect your home?
To help you be more confident in your homeowners' insurance company choice, we have reviews and rankings for hundreds of homeowners insurance companies so you can evaluate and compare the best Oklahoma home insurance companies. In the table above, you can sort through every homeowner's insurance company ranked on Clearsurance that's available in Oklahoma. Next to each insurer, you'll find the company's rating, which is based exclusively on the reviews and ratings provided by customers. Note: Only those companies with at least 25 homeowners insurance reviews are eligible to appear in the best Oklahoma homeowners insurance rankings.
It is important to know as much as you can about a homeowners insurance company and what their policies cover before signing on with them. A talk with a licensed insurance agent can help answer some questions you might have. Questions to consider asking include, "What does your average home insurance policy cover?" "What is the average cost of homeowners insurance in my area?" and "What coverage options do I have?" Ask questions and learn as much as you can about the company that protects your home.
If you're looking for additional information on one of the best homeowners insurance companies in Oklahoma, you can visit the company's profile page where you'll learn about the company, additional coverages, and potential discounts offered. You can also read reviews to see what other policyholders have to say about the home insurance company.
On this page:
- Cheapest homeowners insurance rates in Oklahoma for a $200K dwelling
- Cheapest homeowners insurance rates in Oklahoma for a $400K dwelling
- Oklahoma crime statistics
- Oklahoma disaster statistics
When looking at the five largest Oklahoma companies by market share, Safeco offers the cheapest average cost for a homeowners insurance option for a $200K Oklahoma home. Use the table below, to compare the average homeowners' insurance rates for a $200K home from five of the most popular companies in Oklahoma.
|Company||Average rates for $200K dwelling|
|Farmers Insurance Group||$1,919|
|State Farm Insurance Company||$2,874|
These rates are based on a $200,000 dwelling with the following coverage limits: $100,000 personal property, $20,000 loss of use, $20,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Oklahoma will differ. Rate data is provided by Quadrant Information Services.
Among the companies looked at, Safeco provides the cheapest homeowners insurance for an Oklahoma home worth about $400K, on average. Use the table below, to compare the average homeowners' insurance rates for a $200K home from five of the most popular companies in Oklahoma.
|Company||Average rates for $400K dwelling|
|Farmers Insurance Group||$3,139|
|State Farm Insurance Company||$4,545|
These rates are based on a $400,000 dwelling with the following coverage limits: $200,000 personal property, $40,000 loss of use, $40,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Oklahoma will differ. Rate data is provided by Quadrant Information Services.
Theft and vandalism or malicious mischief are among the 16 perils a standard homeowners insurance policy protects you from. So, how does crime in Oklahoma compare to other states around the country? The FBI published the following statistics on crime in Oklahoma for 2016:
- Property crime - 117,037
- Burglary - 29,103
- Larceny theft - 75,779
When compared to the national average rate per 100,000 inhabitants, all three crime statistics for Oklahoma rank above the national average, which will have an impact on the average cost of your home insurance coverage.
Weather-related incidents are typically among the costliest homeowners insurance claims. FEMA has published statistics for each state since 1953. Data is updated through August 2018. Here's a look at the Oklahoma federally declared disasters since 1953:
- Fire - 87
- Severe storm - 41
- Flood - 22
- Tornado - 11
- Severe ice storm - 9
- Hurricane - 1
- Snow - 1
How are homeowners insurance rates calculated in Oklahoma?
Ever wonder why you pay what you do for home insurance? Some things may be obvious, like the age of your home. But other factors that contribute to the price of an average homeowners insurance quote in Oklahoma may not be as obvious. Here's a list of some of the things homeowners insurance companies consider when quoting you a rate:
- The level of coverage required
- The size of your mortgage
- Your credit score
- The square footage of your home
- The geographic location of your home in Oklahoma
- The condition of your home
- The age of your home
- The proximity of your home to a fire station
- Your previous claims record
- The amount of your deductible
- Optional add-ons like umbrella insurance
Zillow estimates that homeowners can expect to pay approximately $35 each month for every $100,000 of your home's value.
The average cost of homeowners insurance is way above the national annual premium, making it the most expensive state in the US. Oklahoma has higher-than-average claims which increase the cost of homeowners insurance. Surrounding states like Arkansas and Kansas have more affordable rates. That's why it's important to shop around for coverage options in Oklahoma until you find the best coverage for your needs.
Oklahoma also has some specific home insurance considerations that homeowners need to take in mind when shopping for coverage. The most common causes of loss in Oklahoma are: windstorm, minor earthquakes, and hail.
In addition to the standard home insurance coverage (dwelling coverage, liability coverage, personal property coverage, medical payments coverage and additional living expenses), homeowners should consider choosing additional coverage options to protect their financial assets (flood insurance, water backup, other structure insurance).
It's a good idea to talk to an insurance agent to determine what type of homeowners insurance coverage is the most appropriate for you.
How does Clearsurance rate and rank the best homeowners insurance companies in Oklahoma?
Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:
- Customer Service
- Claim service
- Likelihood to renew
The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.
The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.
Do you have a homeowners insurance guide?
Your home is likely your most valuable asset, making it that much more important that you insure your home with one of the best Oklahoma homeowners insurance companies. But beyond just picking a company, it's crucial to have the right coverage and to understand that coverage. Did you know that a standard homeowners insurance policy has six types of coverage? And did you know that there are usually 16 types of perils found in a homeowners insurance policy?
At Clearsurance, we want to make sure you have a strong understanding of your homeowners insurance coverage and what it all means. Check out our homeowners insurance guide to become a smarter insurance customer. And for more educational content on other homeowners insurance topics, check out our homeowners insurance blog!
Frequently Asked Questions
Who offers the best homeowners insurance rates in Oklahoma for a $200K home?
When looking at the five largest Oklahoma companies by market share, Safeco is the cheapest homeowners insurance option for a $200K Oklahoma home, on average.
Who offers the best homeowners insurance rates in Oklahoma for a $400K home?
Among the companies looked at, Safeco provides the cheapest homeowners insurance for an Oklahoma home worth about $400K, on average.