Homeowners Insurance Oklahoma 2021

Last modified: January 21, 2021

Are you a homeowner in Oklahoma searching for the best homeowners insurance? Oklahoma homeowners can now take advantage of our in-depth review of the best insurance companies in Oklahoma. Homeowners insurance is a great way to protect your investment if any unwanted or unexpected occurrences may lead to damage or theft and subsequent financial losses. This article will cover all the factors you need to know to make an informed decision before purchasing your homeowners insurance policy.

Is Homeowners Insurance Required in Oklahoma?

Oklahoma homeowners insurance laws do not mandate homeowners insurance. However, it is highly recommended you buy a coverage policy, so you and your family don’t have to face a financial burden when problems arise. You can rely on your insurance instead to cover the losses.

Coverage varies depending on the insurer you select. However, when you compare the Oklahoma insurance companies list, you can see the following common coverage across the board:

  • Dwelling – This covers any damages to your home and its attached structures like walls, the roof, or the porch.
  • Other Structures – This covers damage to structures not attached to your house, like sheds, fences, detached garages, or gazebos.
  • Personal Property – This is coverage for things inside your home, like furniture and other items, in case of damage or theft.
  • Medical Payments – This covers medical expenses for someone who gets injured on your property and decides to sue you for personal injury.

Oklahoma homeowners should also have coverage to cover damages caused by earthquakes and tornados, in the form of earthquake insurance and comprehensive replacement cost policies, because these disasters are very common in the Sooner State.

Common Causes of Home Insurance Losses in Oklahoma

The most common causes for insurance claims in Oklahoma state result from an increased risk of the following:

  • Hail, windstorms, thunderstorms, hurricanes, and tornados
  • Land movement, sinkholes, and earthquakes
  • Overflow of plumbing, flooding, and water backup

These high-risk causes and the resulting damage make purchasing relevant insurance a top priority for Oklahoma homeowners to stay protected in any disastrous events.

How Much Is Homeowners Insurance in Oklahoma?

The average home insurance cost in Oklahoma is $2,559, which is much higher than the national average cost of home insurance, which is $1,211. This is somewhat understandable due to the high risks involved in Oklahoma, like earthquakes and tornados, when compared to most other states.

Oklahoma insurance rates factor in location, credit history, condition, and build of your home. These rates often vary between companies for the same coverage, and you must know the various Oklahoma quotes and understand the differences before purchasing.

Cheapest Homeowners Insurance in Oklahoma

Naturally, home insurance rates depend on the city and location.  Our research showed the most expensive city for home insurance to be Midwest City and the least expensive to be Bartlesville in Oklahoma. Home insurance in Midwest City can average at $3,105, compared to Bartlesville averaging at $2,109. These prices are far apart due to high-risk factors in the state, depending on location.

Following, we have the average homeowners insurance in Oklahoma- city-based average rates of the top cities.

Cost of homeowners insurance by top cities
City Average Rate
Norman $2,865
Oklahoma City $3,049
Tulsa $2,219
Owasso $2,175

 

Best Homeowners Companies Oklahoma

Let’s take a look at an in-depth review of the best homeowner companies in Oklahoma.

Company Best for Coverage Discounts Pricing
AAA
  • Retired homeowners
  • Dwelling Coverage
  • Other Structures
  • Personal Property Coverage
  • Liability & Medical Coverage
  • Additional Living Expenses Coverage

Add-ons including:

  • Flood Coverage
  • Earthquake Coverage
  • Umbrella Policy
  • Bundle discount
  • Home alarm systems
  • New home discount
  • Claim-free discount
  • Owner older than 55 years of age
  • Renovation discounts
  • Roofing discount
$4,529
ASI
  • People looking for an established insurer with good pricing and discounts
  • Dwelling Coverage
  • Other Structures
  • Personal Property Coverage
  • Liability & Medical Coverage
  • Additional Living Expenses Coverage

Add-ons including:

  • Flood Coverage
  • Umbrella Policy
  • Bundle discount
  • Smoke-free home
  • New home discount
  • Paid-in-full discount
  • Home alarm systems
  • Umbrella policy discount
$2,261
Oklahoma Farm Bureau
  • People looking for balanced pricing, customer satisfaction, and coverage
  • Dwelling Coverage
  • Other Structures
  • Personal Property Coverage
  • Liability & Medical Coverage
  • Additional Living Expenses Coverage
  • Bundle discount
  • Claims-free discount
  • New home discount
  • Home alarm systems
  • Roofing discount
$1,755
Farmers
  • People looking for good discounts in an affordable policy for weather-related perils
  • Dwelling Coverage
  • Other Structures
  • Loss of Use Coverage
  • Personal Property Coverage
  • Liability & Medical Coverage

Add-ons including:

  • Flood Coverage
  • Earthquake Coverage
  • Bundle discount
  • Smoke-free home
  • Home alarm systems
  • Claims-free discount
  • Upgrading home structures (reinforcing roof or windows)
  • Claim forgiveness
$2,245
State Farm
  • People looking for convenient policy management, claims, and payments through a mobile application and the best online experience
  • Dwelling Coverage
  • Other Structures
  • Personal Property Coverage
  • Loss of Use Coverage
  • Liability & Medical Coverage

Add-ons including:

  • Flood Coverage
  • Earthquake, sinkhole, and other earth movement coverage
  • Bundle discount
  • Home alarm systems
  • Roofing discount
$3,051
Allstate
  • New and first-time homebuyers that want earthquake coverage
  • Dwelling Coverage
  • Other Structures
  • Personal Property Coverage
  • Liability & Medical Coverage
  • Additional Living Expenses Coverage
  • Earthquake Coverage

Add-ons including:

  • Water Backup
  • Flood Insurance
  • Umbrella Policy
  • Bundle discount
  • First-time home buyers
  • Automatic payments discount
  • Claims-free discount
  • Owner older than 55 years of age
  • Early renewal of the policy
  • Smoke-free home
  • Homes security systems
$3,147
USAA
  • Military personnel and their families looking for replacement cost coverage for tornadoes and other extreme weather-related perils
  • Dwelling Coverage
  • Other Structures
  • Personal Property Coverage
  • Liability & Medical Coverage
  • Loss of Use Coverage
  • Replacement Cost Service

Add-ons including:

  • Earthquake Coverage
  • Bundle discount
  • Claims-free discount
  • Home security systems
  • Military personal and families discount
$2,448
American Farmers & Ranchers
  • People looking for the lowest price and earthquake coverage
  • Dwelling Coverage
  • Other Structures
  • Personal Property Coverage
  • Additional Living Expenses
  • Liability & Medical Coverage
  • Earthquake Coverage
  • Bundle discount
  • Claim-free discount
  • Home security systems
  • Roofing discount
  • New home discount
  • New renovation discount
$1,576
Liberty Mutual
  • People looking for great financial strength with an established insurer with plenty of discounts
  • Dwelling Coverage
  • Personal Property Coverage
  • Liability & Medical Coverage
  • Additional Living Expenses Coverage
  • Wind & Hail Coverage
  • Loss of Use Coverage

Add-ons including:

  • Flood Coverage
  • Earthquake Coverage
  • Umbrella Policy
  • Bundle discount
  • New home discount
  • New renovation discount
  • Claims-free discount
  • Roofing discount
  • Early shopper discount
  • Automatic payment discount
  • Online purchase discount
  • Military discount
$3,092

 

AAA

AAA homeowners insurance Oklahoma is a great insurance provider for people above 55 years looking for a trusted company that offers discounts to older homeowners. They are especially beneficial if you are an AAA member and bundle their homeowners insurance policy with others, like AAA auto insurance.

Their coverage offers all the required coverage Oklahoma homeowners need plus add-ons for flood and earthquake coverage. The flexibility in policy creation with a personalized umbrella policy is another valuable feature, although the pricing is well above the state average.

ASI

If you want a well-established insurer at decent pricing, ASI provides ample coverage with added discounts including unique discounts, like a paid-in-full discount. This offers you a discount if you pay for the full year.

Apart from this, their umbrella policy makes for a flexible policy, and the add-on flood coverage can be useful for Oklahoma homeowners that face regular flooding. The pricing is slightly above the state average, common with established insurers, but ASI is still fairly low-priced compared to them.

Oklahoma Farm Bureau

Homeowners looking for well-balanced coverage, pricing, and customer satisfaction can rely on Oklahoma Farm Bureau insurance for their homes. With fair discounts and good customer satisfaction, they cover your basic home insurance needs while being priced well below the state average.

Farmers

Oklahoma homeowners that want good discounts and weather protection for their homes at an affordable rate will enjoy their experience with Farmers. They offer flood and earthquake coverage add-ons and discounts focused on improving your home.

The best part is that they are priced below the state average, and with the discounts you can get through home improvements, they quickly become a very attractive option.

State Farm

State Farm homeowners insurance Oklahoma comes from a trusted industry leader when it comes to insurance. They offer every standard coverage plus add-ons like flood and earth movement coverage, including earthquake and sinkholes.

They provide convenience through their mobile app, and their online experience is the best in the market. The pricing is well above average, which is expected from a market leader trusted by so many.

Allstate

Allstate is another market leader great for those buying their first homes and those looking for earthquake coverage from a trusted insurer. They offer multiple discounts that are relatively more than the competition. The combination of a reliable insurer, earthquake coverage, and multiple discounts makes the above-average pricing worth considering.

USAA

USAA homeowners insurance Oklahoma is an excellent option for military personnel and their families looking for a provider that offers replacement cost coverage in the standard coverage. This will help them avoid substantial losses in case of a disaster, like tornados or hurricanes, common in Oklahoma. The pricing is also lower than the state average, making USAA a great choice.

American Farmers & Ranchers

This is a great insurance policy for homeowners looking for the lowest price with an added benefit of earthquake coverage in the standard policy. The discounts further add to the already low priced insurance policy, making it the most affordable option available.

Liberty Mutual

Liberty Mutual homeowners insurance Oklahoma is a policy with plenty of discounts and a great mobile management app that is easy-to-use. They offer full standard coverage plus wind and hail coverage and add-ons for flood and earthquake coverage. They are an established insurer, so the pricing is above the state average but you can use the discounts they offer to reduce the overall cost.

Pros & Cons

The Pros

The Cons

Final Verdict

FAQs

Does Homeowners Insurance Cover Flooding in Oklahoma?

No. Homeowners insurance does not cover flooding in any state, including Oklahoma.

Does Homeowners Insurance Cover Lightning in Oklahoma?

Yes. Almost all homeowners insurances in Oklahoma cover damages caused by lightning. It is always best practice to check your insurance policy for this coverage to be sure.

Does Homeowners Insurance Cover Snow Damage?

Yes. Standard homeowners insurance covers snow damage to your home’s roof. However, some non-standard policies do not cover snow or ice damage.

What If I Can't Get Homeowners Insurance?

In the case of not getting homeowners insurance in Oklahoma, it is recommended you look for Surplus carriers that will take on your insurance coverage. Unlike traditional insurance companies, they may charge you higher prices and are also not regulated by the government.

Is Wind Damage From Tornadoes Covered by Home Insurance?

It is covered only to an extent. While your home insurance covers wind damage, it is not always enough to cover the cost of rebuilding your home in case of complete destruction caused by tornadoes. You may want to consider including replacement cost coverage.