Our editorial team analyzed regional and national home insurance companies that sell policies in Oklahoma City to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.
Oklahoma City’s average home insurance rates for a $300,000 dwelling coverage policy are $6,776 with a $1,000 deductible and $6,857 with a $500 deductible. Home insurance rates in Oklahoma’s capital city are among the highest in the state, but savings are available through a wide range of home insurance companies, like State Farm and Allstate.
With year-round wildfire risks, it’s a good idea to consider increased property coverage when purchasing or renewing a homeowners insurance policy.
Here’s what else you need to know when shopping for home insurance in Oklahoma City.
Best home insurance companies in Oklahoma City
Oklahoma City has dozens of home insurance companies, like Farmers Insurance, North Star Mutual Insurance Company, Oklahoma Farm Bureau Mutual Insurance Company, and more.
Allstate, State Farm, and USAA are three of the best companies for home insurance in Oklahoma City. All have achieved an Insurify Quality (IQ) Score of 8.0 or higher.
Keep in mind that the best company for you will be the one that aligns with your coverage needs and budget.
Best company for affordability: Allstate
Best company for natural disaster claims: State Farm
Best company for customer satisfaction: USAA
Cheapest home insurance companies in Oklahoma City
The cheapest home insurance company in Oklahoma City is Allstate, which has average annual premiums that are roughly $500 less than the next cheapest alternative, American National P&C.
How much is home insurance in Oklahoma City?
The average annual rate for a policy with $300,000 in dwelling coverage in Oklahoma City is $6,776 with a $1,000 deductible and $6,857 with a $500 deductible.
Every home insurance company, including State Farm and Oklahoma Farm Bureau, reviews factors like ZIP code, proximity of fire stations, deductible level, the home’s age, building materials, and safety features when quoting a premium. That’s why Oklahoma home insurance premiums are different even for two homes in the same neighborhood.
Cost of home insurance by dwelling coverage in Oklahoma
There’s no standard Oklahoma home insurance company that suits every homeowner. When you select a higher dwelling coverage amount, you’ll pay more money to have a greater level of protection. For example, the replacement cost for an old house may require a lower coverage limit than a brand-new home with a much higher replacement cost. A higher coverage limit typically has a higher average annual premium.
Cost of homeowners insurance by deductible amount
A deductible is the set amount of money you pay before your home insurance company steps in to cover your claim. A standard homeowners policy might offer a low deductible of $500 and a higher deductible of $1,000. A higher deductible typically gives you a lower premium because you take on more of the cost to pay for your claim.3
Choosing a low deductible often comes with a higher premium to compensate for the higher amount your insurance company will cover when you file a claim.
Average cost of home insurance in other cities in Oklahoma
Oklahoma City residents pay a higher average insurance rate than residents of Tulsa, though homeowners in Norman and Yukon usually pay more for property coverage. A property’s location, down to its ZIP code, influences average annual home insurance prices.
Broken Arrow, for instance, has a large fire department, which is one factor contributing to its lower average annual insurance rate in this ZIP code.
All annual rates below are for $300,000 in dwelling coverage with a $1,000 deductible.
What to know about owning a home in Oklahoma City
Oklahoma City is the largest city in the state, and it carries insurance risks common to most larger cities. Reports of property crime, burglary, larceny-theft, and arson are substantially higher in the capital than in any other city in the state. If you have a high-value home or possessions, you may want to review your coverage limits and increase them to ensure any damage to the property or stolen items are adequately covered.
Geographically, the city also faces threats from multiple weather-related events. Wildfires can occur in Oklahoma City throughout the year, as can tornadoes and earthquakes. Unfortunately, a standard homeowners insurance policy only covers some perils. Even though volcanic eruptions, windstorms, fire, and ice damage are covered, damage from floods and earthquakes typically isn’t.4
It’s a good idea to consider flood insurance to better protect your home. Most mortgage lenders will require it if the property is within a flood zone. You can secure flood insurance through government programs like the National Flood Insurance Program (NFIP). Many home insurance companies can assist you in securing a flood insurance policy through the NFIP.
Oklahoma City home insurance FAQs
Here’s more information to help you identify a low rate on home insurance in Oklahoma City.
Oklahoma City’s average home insurance rates for a policy with $300,000 in dwelling coverage are $6,776 with a $1,000 deductible and $6,857 with a $500 deductible. Rates in Oklahoma’s capital city are among the highest in the state.
Allstate has the cheapest average annual premiums for home insurance in Oklahoma City, at $2,827 per year. Allstate is the fourth-largest property and casualty insurer and the second-largest home insurance company in the country, though some surveys rank it low in customer satisfaction.
An average home insurance policy in Oklahoma can cost anywhere from $5,299 in cities like Tulsa to as much as $7,001 in Norman.
A home insurance policy is generally more expensive in Oklahoma because the Sooner State faces risks from multiple natural disasters, including hailstorms, wildfires, tornadoes, and earthquakes. Inflation and increased costs for claims also increase premiums.
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}