The average annual cost of home insurance in Tulsa is $5,299 for a $300,000 policy with a $1,000 deductible. Standard homeowners insurance policies include coverage for tornadoes — a necessity in Oklahoma — but you typically need to pay a pricey wind and hail deductible when you file a claim. Floods and earthquakes aren’t included in standard coverage, but they’re common add-ons.1

Here’s what you need to know about finding home insurance in Tulsa.

Best home insurance companies in Tulsa

Considering your home’s features, the location, the value, and your priorities can help you find the best home insurance company for you. It’s also important to look at discounts, customer service ratings, and the financial stability of an insurer.

To help get you started, the following insurers are some of the strongest companies in Tulsa.

Best company for cheap rates: Allstate

Best company for customer experience: Chubb

Best company for tornado coverage: State Farm

Cheapest home insurance companies in Tulsa

Tulsa homeowners pay much more than the national average, but it’s still easy to find affordable coverage. Allstate is the cheapest home insurance company in Tulsa. You can also find cheap coverage from State Farm and Oklahoma Farm Bureau.

The table below shows the cheapest home insurance companies in the city.

How much is home insurance in Tulsa?

Home insurance costs an average of $5,299 per year in Tulsa — more than double the national cost of homeowners insurance. Oklahoma is part of “Tornado Alley” in the Midwest, and the frequency of windstorms increases the price.2

You might pay more or less than the average, depending on your credit history, claims history, deductible, and home features. The amount of coverage you have also affects the cost.

Cost of home insurance by dwelling coverage in Oklahoma

You pay more for home insurance when you have more dwelling coverage. But it also means you can access more money when you file a claim. The coverage limit is the maximum amount your insurance company pays when you file a claim.

For example, let’s say you have $150,000 of damage, but your coverage limit is $100,000. Your policy covers $100,000, not the remaining $50,000, so it’s important to buy the appropriate amount of coverage for your assets.

Here’s how much home insurance costs based on dwelling coverage limits in Oklahoma.

Cost of homeowners insurance by deductible amount

Your deductible is the amount you’re responsible for paying when you file a claim with your insurance company. Standard homeowner deductibles are often $500 or $1,000. You’ll have a separate deductible if you have additional coverages, like wind and hail coverage.

Your monthly premiums are higher with a low deductible since the insurer helps pay more of the claim. Here’s how your premium might fluctuate depending on your deductible amount.

Average cost of home insurance in other cities in Oklahoma

Where you live — including your state, city, and ZIP code — affects how much you pay for home insurance. The location of your home determines the risk of natural disasters like tornadoes and floods, and insurers charge more when the risk is greater.

Tulsa homeowners pay some of the lowest home insurance rates in the state. Here’s how the city compares to other locations in Oklahoma.

What to know about owning a home in Tulsa

Real estate in Tulsa is affordable, and the cost of living is surprisingly low in Oklahoma. But home insurance is more than twice as expensive as the national average because of tornadoes. The good news is that standard home insurance policies cover tornadoes with an extra wind and hail deductible.

The deductibles for tornadoes are usually 1% to 5% of your coverage limit. For example, let’s say you have a coverage limit of $300,000 with a 2% wind and hail deductible. You’re responsible for paying $6,000 when you file a claim for damage from a tornado.

It’s a good idea to understand how your tornado coverage works and how much you must pay when you file a claim.