Best homeowners insurance in Oklahoma for 2022

Oklahoma holds the unfortunate designation of being one of the most natural disaster-prone states in the country. Leading the way with the most amount of damage caused by tornados, Oklahoma also sees wildfires, floods, and storms. This propensity for severe weather means that Oklahoma has some of the highest homeowners insurance rates in the country. 

The average cost of homeowners insurance in Oklahoma is $4,331 per year or $361 a month. This is around 128% higher than the national average of $1,899, but there are many ways you can save on the cost of coverage.

But there are other factors you should consider when choosing an insurer. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Oklahoma.  

Best homeowners insurance companies in Oklahoma

Of the companies we looked at, Allstate’s rate of $3,264 per year is the lowest in Oklahoma, while USAA has the highest customer and claim satisfaction ratings from J.D. Power. While price will always be a factor when shopping for insurance, a company’s reputation for customer service is also important to consider.  

Policygenius analyzed thousands of quotes from the 5 largest Oklahoma  insurers to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Oklahoma  residents to find the best homeowners insurance in Oklahoma.

State Farm

There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.

Pros

• Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage

• Get up to $1 million in personal liability coverage

• Score discounts for bundling, installing security devices, and choosing a high deductible

• File and track claims online, over the phone, in person, or through its mobile app

• High customer satisfaction and financial strength ratings

Cons

• No discounts for first-time homebuyers or going a year without a claim

Read our full State Farm home insurance review

Get quotes

Why State Farm tops our best list

State Farm is currently offering customers a free Ting smart plug for your home. By monitoring your electrical system, Ting can warn you about any hazards that could lead to fires or other damage. When you make your home safer, you are less likely to file a claim, which reduces costs for everyone. 

How to get a quote

Online through State Farm

Farmers

Farmers is one of the largest and most reputable home insurance providers in the industry, offering special discounts for teachers, nurses, first responders, and non-smokers — plus the option to rebuild your home with green materials after a claim.

Pros

• Several discounts and unique ways to save, including claim forgiveness and declining deductibles

• 3 flexible coverage packages with varying levels of protection for most coverage and budget needs

• Offers extended and guaranteed replacement cost coverage options

• File claims online, via text, on its mobile app, or by calling its claims center

Cons

• Rates are typically more expensive

• Below-average customer satisfaction ratings

• No repair network to help you find a certified contractor or repair professional after filing a claim

Read our full Farmers home insurance review here

Get quotes

Why Farmers tops our best list

Farmers gives their customers many easy ways to save on their home insurance policy. It offers discounts for safeguarding your home with specialized roofing materials, security alarms, and fortifications against natural disasters, as well as discounts for having “green” certified appliances. There are discounts for professionals such as teachers, first responders, and health care workers and even non-smokers can get a discount since smoking increases the risk of fires.

How to get a quote

Online through Farmers

Allstate

Allstate's mix of exceptional customer satisfaction ratings, personalized coverage options, and numerous discount opportunities make it one of the most popular homeowners insurance companies on the market.

Pros

• Several coverage add-ons, including ones for roof surfaces, water backup, green improvements, and mold protection

• 8+ discounts, including autopay, bundling, zero claims, and new homebuyer

• Get up to 25% off your premiums when you bundle home and auto insurance

• Excellent customer service and claims satisfaction ratings

• File and track claims online or through its mobile app

Cons

• Rates are typically high compared to competitors

Read our full Allstate home insurance review

Get quotes

Why Allstate tops our best list

While liability insurance protects you if you are sued by someone injured on your property, Allstate also offers guest medical protection. This coverage pays the medical expenses for someone accidentally injured at your home, since not all injuries result in a lawsuit.

How to get a quote

Online through Policygenius or Allstate 

USAA

USAA's robust coverages and high marks for customer service and claims satisfaction make it a solid home insurance option for military members and their families.

Pros

• Score discounts for zero claims, being a loyal USAA member, opting into e-billing, and more

• Base policy includes coverages that cost extra with most other companies

• Offers earthquake coverage — which is hard to come by

• Get discounted home security systems and a discount on premiums through its partnership with ADT

• Industry-best customer service and claims satisfaction ratings

Cons

• Only available to military families

• Doesn’t offer extended or guaranteed replacement cost dwelling coverage

Read our full USAA home insurance review here

Get quotes

Why USAA tops our best list

USAA only offers home insurance to members of the armed forces and their families, which is a huge benefit for the thousands of active and retired military members living in Oklahoma. Given the company’s typically low rates and high customer service ratings, military families should take advantage of what USAA has to offer.

How to get a quote

Online through USAA

Oklahoma Farm Bureau Insurance

Oklahoma Farm Bureau Insurance offers a variety of standard insurance options for Oklahoma residents, including home, auto, dwelling, and condo insurance policies.

Pros

• Excellent customer service ratings

• Online quotes and claims filing

Cons

• Very little information about coverage options online

• Not many discounts compared to competitors

Get quotes

Why Oklahoma Farm Bureau tops our best list

Oklahoma Farm Bureau is a great insurance option for the many family farmers living in Oklahoma. Along with their home insurance options, Oklahoma Farm Bureau also offers insurance for farms and ranches as well as crops, tools, and equipment like tractors and other vehicles. 

How to get a quote

Online through Oklahoma Farm Bureau

Cheapest homeowners insurance companies by city in Oklahoma

Looking at average home insurance costs for the 15 most popular insurers in Oklahoma, we found that the cheapest homeowners insurance companies in the state are Farmers and Allstate. Allstate has the cheapest rates in the state’s biggest cities, with an average yearly cost of $2,779 in Tulsa, and $3,065 in Oklahoma City. 

While the size, age, and value of your home are all factors in determining your cost of home insurance, rates will also vary across the state based on additional factors. Cities with high crime rates will see higher rates due to an increased likelihood of theft and vandalism. You also may see lower rates on the eastern border where towns are less likely to have damage from tornadoes.

Shopping for homeowners insurance in Oklahoma

When shopping for homeowners insurance, it’s important to know what type of coverage you need as well as how much is right for your home. If you’re overinsured, you risk paying too much for home insurance, but if you’re underinsured, you may be stuck paying for a portion of an expensive rebuild out of pocket. 

Due to the multitude of devastating storms, tornados, and wildfires in Oklahoma, it’s important to have enough dwelling coverage to rebuild your home after a total loss. 

In this section, we break down the average annual home insurance rates in Oklahoma  for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies in the state for individuals with a poor credit score, dog owners, and pool owners. Once you’re ready to shop, a Policygenius expert can help you navigate your coverage needs and help you find the best deal on homeowners insurance in Oklahoma .”

Oklahoma  home insurance costs by coverage amounts

Dwelling coverage is the part of your policy that pays to repair or rebuild your house after a covered loss. The amount of coverage you need is based on your home’s replacement cost — not its market value or purchase price.

How much dwelling coverage you need will have an impact on the cost of your policy. In Oklahoma, the average annual cost of a policy with $100,000 in dwelling coverage is about $2,008, while a policy with $500,000 in dwelling coverage costs an average of $6,799 per year.

Liability coverage protects you in case you are found responsible for someone else’s injuries or property damage. Your coverage amounts should be based on the total value of your assets, including your home, vehicles, and liquid assets.

Oklahoma home insurance costs by deductible amount

Your home insurance deductible is the amount you must pay every time you file a claim. Once you have paid your deductible, your insurance will cover the rest of a claim, up to your coverage limit. 

While lower deductibles will increase the price of your policy, you’ll want to avoid setting your deductible too high in Oklahoma, given the state’s large amount of natural disasters and the potential for frequent claims.

As seen in the table below, Oklahoma  residents can save around $923 on home insurance by choosing a $2,000 deductible over the $500 option.

Home insurance discounts in Oklahoma

Insurance companies often have discounts available for making your home safer. By installing a smoke detector, deadbolt lock, or burglar alarm, you are not only securing your home, you are also saving money on your insurance policy.

While you won’t get a huge discount if your house has one of the following features and nothing else, they can add up if you have several protective devices in your home. Here is the average annual rate and average discount percentage for homes in Oklahoma  with deadbolts, smoke alarms, or burglar alarms. 

Home insurance companies in Oklahoma for dog owners

Insurance companies will often charge higher home insurance rates if you have certain dog breeds, since these breeds are more likely to injure someone and result in expensive liability claims. 

With an average rate of $3,264 per year, Allstate has the cheapest home insurance rates in Oklahoma  for a home with a dangerous dog breed, while Oklahoma Farm Bureau’s average yearly premium of $5,069 is the highest. 

Home insurance companies in Oklahoma for poor credit

Insurance companies look at your credit score as an indication of what kind of risk you are to insure. Since you are more likely to file a home insurance claim if you have a low credit score, insurers usually charge higher rates for people with poor credit. 

Not all insurance companies use your credit history to determine your rate, so it’s important to shop around.

With an average rate of $5,111 per year, Oklahoma Farm Bureau has the cheapest home insurance rates in Oklahoma for a homeowner with poor credit, while State Farm’s average yearly premium of $8,711 is the highest. 

Home insurance companies in Oklahoma for pool owners

Pool owners may see higher home insurance rates since swimming pools can lead to more injuries and are a higher risk for liability claims. 

Not all insurance companies charge more for pool owners, so it’s smart to shop around for the lowest rates.

With an average rate of $3,355 per year, Allstate has the cheapest home insurance rates for Oklahoma homes that have a swimming pool, while State Farm’s average yearly premium of $5,069 is the most expensive.

How to buy homeowners insurance in Oklahoma

Severe weather can cause major damage to your home, and without home insurance, you could end up with a large rebuild or repair bill. With the high cost of homeowners insurance in Oklahoma, it’s important to shop around to get the best coverage for a price you can afford.  

Here are some steps to help you get started: 

1. Reach out to a licensed Policygenius agent. A Policygenius agent can answer questions, determine how much coverage you need, and show you how to save money — all at no cost and with no impact on your credit.

2. Ask about a wind-only policy for tornado coverage.  If damage from a tornado isn’t covered in your homeowners insurance policy, ask a Policygenius agent about wind-only insurance to make sure your home is protected. 

3. Figure out how much you can afford to pay for your deductible. Opting for a higher deductible will save money on your policy, but those savings can be negated if you need to file multiple claims. A Policygenius agent can help you determine what you should be paying as a deductible. 

4. Compare quotes from a Policygenius agent. There are many factors that go into determining your insurance rate. A Policygenius expert can help you compare rates from different companies so you can be sure you’re getting the policy you need at a fair price. 

5. Choose your policy, sign it, and pay your first premium. Once you decide on a policy, a Policygenius agent can prepare the paperwork, so all you have to do is sign and pay your premium. We can even cancel your old policy for you if it’s still active. 

Methodology

Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:

• Dwelling: $300,000

• Other structures: $30,000

• Personal property: $150,000

• Loss of use: $60,000

• Liability: $300,000

• Medical: $1,000

All rates based on the above coverage limits except where otherwise noted.

Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.