Best and Cheapest Home Insurance Companies in Oklahoma (2024)
State Farm has the cheapest home insurance in Oklahoma for most people, at $3,149 per year.
Compare Home Insurance Quotes from Companies in Oklahoma
Cheapest and Best Homeowners Insurance in Oklahoma
To help Oklahoma homeowners get the best deal on home insurance, ValuePenguin studied customer satisfaction ratings, coverage availability and cost. To find the cheapest rates, our editors collected thousands of quotes from nine top insurance companies across the state.
Cheapest home insurance in Oklahoma
State Farm has the cheapest home insurance quotes in Oklahoma for most people.
A State Farm policy costs $3,149 per year for $350,000 of dwelling coverage. That's $1,650 per year less than the Oklahoma average.
Compare Home Insurance Quotes in Oklahoma
American Farmers & Ranchers has the cheapest rates for homeowners who need less coverage.
A policy with $200,000 of dwelling coverage costs $2,155 per year from American Farmers & Ranchers. That's $964 per year cheaper than average.
Oklahoma home insurance rates by dwelling coverage
$200,000
$350,000
$500,000
$1 million
Company | Annual rate | ||
|---|---|---|---|
| American Farmers & Ranchers | $2,155 | |
| Farm Bureau | $2,159 | |
| State Farm | $2,277 | |
| Shelter | $2,334 | |
| Travelers | $3,038 | |
$200,000
Company | Annual rate | ||
|---|---|---|---|
|
| American Farmers & Ranchers | $2,155 | |
|
| Farm Bureau | $2,159 | |
|
| State Farm | $2,277 | |
|
| Shelter | $2,334 | |
|
| Travelers | $3,038 | |
$350,000
Company | Annual rate | ||
|---|---|---|---|
|
| State Farm | $3,149 | |
|
| Shelter | $3,688 | |
|
| Farm Bureau | $3,711 | |
|
| American Farmers & Ranchers | $3,778 | |
| Allstate | $4,735 | |
$500,000
Company | Annual rate | ||
|---|---|---|---|
|
| State Farm | $3,845 | |
|
| Shelter | $5,114 | |
|
| Farm Bureau | $5,269 | |
|
| American Farmers & Ranchers | $5,494 | |
|
| Allstate | $6,178 | |
$1 million
Company | Annual rate | ||
|---|---|---|---|
|
| State Farm | $5,504 | |
|
| Shelter | $9,528 | |
|
| Farm Bureau | $10,237 | |
|
| American Farmers & Ranchers | $11,222 | |
|
| Allstate | $11,286 | |
What home insurance do I need in OK?
Homes in Oklahoma are at a high risk for tornado damage. The state had 74 recorded tornadoes in 2023.
Home insurance typically covers tornado damage. However, if you live in a high-risk area, your insurance company may not offer coverage for wind or hail damage. In that case, you may need to buy a separate policy to fully protect your home.
Best OK homeowners insurance for most people: State Farm
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Editor's rating
- Cost: $3,149/yr
State Farm's cheap rates and reliable customer service make it the best choice for most Oklahoma homeowners.
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Cheap rates
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Dependable customer service
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Great for bundling with auto insurance
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May have to call an agent to buy a policy
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Few coverage options and discounts
State Farm has the best homeowners insurance quotes in Oklahoma for moderately priced and expensive homes. A policy from State Farm costs 27% to 53% less than the state average, depending on how much coverage you need.
Homeowners are typically happy with the service they get at State Farm. It earned a good score on J.D. Power's customer satisfaction survey. State Farm also gets fewer complaints than an average company its size, according to the National Association of Insurance Commissioners (NAIC).
In addition, State Farm is the best choice for bundling home and auto insurance in Oklahoma.
It offers a sizable discount for bundling policies and has some of the cheapest car insurance in Oklahoma.
However, State Farm doesn't offer as many discounts as most companies. Beyond bundling, the only other ways to save on home insurance are by installing a security system or damage-resistant roofing.
State Farm also offers fewer coverage add-ons than other companies. For example, State Farm doesn't offer tree debris removal. This coverage could be helpful in areas with frequent tornadoes or windstorms.
Best Oklahoma homeowners insurance for extra coverage: Shelter
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Editor's rating
- Cost: $3,688/yr
Shelter has lots of ways to customize your protection and affordable rates.
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Basic policy includes extra coverage
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Lots of optional coverage upgrades
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Low rates
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Few customer complaints
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Limited discounts
Shelter is the best home insurance company for severe storm coverage in Oklahoma. Oklahoma faces a wide range of risks including tornadoes, wildfires and hailstorms in the summer.
Shelter offers coverage that's especially helpful for weather damage.
For an additional cost, Shelter will pay to remove debris after a storm or reimburse you for fire department charges. You can also add protection for certain farming activities. Homeowners who live on a lake can add coverage for their dock and watercraft activities.
Shelter gets half as many customer complaints as an average company its size. That means you can likely count on Shelter to get your life back to normal quickly after a disaster.
Basic homeowners insurance from Shelter typically costs 18% to 25% less than the Oklahoma state average, depending on how much coverage you need. You can also save by bundling multiple policies, buying a new home or installing fire or security alarms. But Shelter offers fewer discounts than other companies.
Best home insurance in OK for inexpensive homes: American Farmers & Ranchers
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Editor's rating
- Cost: $2,155/yr
American Farmers & Ranchers offers basic coverage and good customer service for a low price.
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Cheapest quotes for affordable homes
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Very few customer complaints
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Helpful local agents
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Limited discounts and coverage options
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Can't get a quote online
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Must buy a membership
American Farmers & Ranchers offers the cheapest Oklahoma homeowners insurance rates for affordable homes.
A policy with $200,000 of dwelling coverage costs $2,155 per year from American Farmers & Ranchers. That's $964 per year less than the Oklahoma average.
However, you must be a member of your local American Farmers & Ranchers chapter to buy an insurance policy. Annual fees are fairly cheap, at an average of only $35 per year.
Oklahoma homeowners usually have a good experience with American Farmers & Ranchers. It gets less than half as many complaints as an average company its size. There are also over 160 independent agents throughout the state, making access to an agent convenient and easy.
The largest downside to American Farmers & Ranchers is its limited coverage add-ons. The only upgrade it offers is water backup coverage, which protects against damage from backed-up pipes or a broken sump pump. So it's not a good option for people who want to upgrade their policies with extra protection.
Average home insurance cost in Oklahoma
The average cost of homeowners insurance in Oklahoma is $4,799 per year.
That makes Oklahoma the most expensive state in the country for homeowners insurance.
Dwelling coverage | Annual cost |
|---|---|
| $200,000 | $3,119 |
| $350,000 | $4,799 |
| $500,000 | $6,473 |
| $1,000,000 | $11,682 |
Home insurance in Oklahoma can be expensive because of the state's severe weather. Oklahoma home insurance costs $2,648 per year more than the national average. And it costs $429 per year more than the second most expensive state, Nebraska.
Oklahoma home insurance rates by city
Miami, a city in northeastern Oklahoma, has the cheapest home insurance rates in the state.
A policy in Miami costs an average of $3,858 per year.
Midwest City, part of the Oklahoma City metro area, is the most expensive city for home insurance in Oklahoma. A policy costs $5,778 per year, on average. This could be due to the high property crime rates in Midwest City.
Home insurance cost in Oklahoma by city
City | Annual rate | % from avg. |
|---|---|---|
| Achille | $4,381 | -9% |
| Ada | $4,560 | -5% |
| Adair | $4,042 | -16% |
| Adams | $4,826 | 1% |
| Addington | $4,581 | -5% |
Rates are for a policy with $350,000 of dwelling coverage.
Best home insurance in Oklahoma
State Farm and Farm Bureau are the best insurance companies for most homeowners in Oklahoma.
Both companies offer an excellent combination of customer satisfaction and cheap rates.
Top Oklahoma homeowners insurance companies
Company |
Rating
|
Complaints
|
|---|---|---|
| Farm Bureau | Low | |
| State Farm | Average | |
| Shelter | Low | |
| Chubb | Low | |
| Farmers | Low |
*USAA is only available to military members, veterans and their families.
What homeowners insurance coverage do I need in Oklahoma?
Oklahoma has a higher number of major thunderstorms and tornadoes than most other states.
Fortunately, homeowners insurance typically covers most types of damage caused by these storms, including wind, hail and lightning damage.
However, it doesn't typically pay for flood damage. If you're concerned about flooding, you should get a separate flood insurance policy.
Does Oklahoma home insurance cover tornado damage?
Homeowners insurance typically pays for tornado damage.
Tornadoes caused nearly $117 million in property damage across Oklahoma between 2019 and 2024.
Homeowners living in high-risk areas may have to pay a separate deductible for wind damage. So you may have to pay two deductibles if a tornado causes both wind and hail damage to your home.
Though your homeowners insurance probably covers wind damage, your policy might not be enough to rebuild your home if it were destroyed.
You should consider upgrading your policy with replacement cost coverage. This guarantees your home insurance company will fully rebuild your home, even if the costs exceed your dwelling coverage limits.
Does home insurance in OK cover hail damage?
Homeowners insurance typically covers hail damage.
Oklahoma had 70 days with hailstorms in 2023. Since the state has frequent hailstorms, you should take precautions by reinforcing your roof and windows. Most home insurance companies also offer discounts for installing impact windows.
How to find the best homeowners insurance in Oklahoma
The best home insurance companies in Oklahoma offer great customer service and helpful coverage at an affordable rate. To find the best company for you, start by deciding how much coverage you need. Then, shop around for quotes and compare customer service ratings.
Figure out how much coverage you need. Most basic home insurance policies offer similar coverage, including protection for your home and belongings.
However, some Oklahoma homeowners may need more protection than a basic policy offers.
For example, some companies offer coverage for trees and plants. This can be helpful if you live in an area with windstorms or tornadoes and want protection for your landscaping.
Compare quotes from multiple companies. There's a difference of $3,584 per year between the most and least expensive companies in Oklahoma. That could mean a savings of nearly $300 per month.
In addition, each insurance company calculates rates differently. Some companies focus more on your age or credit score. Others may weigh your home's building materials or your insurance history more heavily. For that reason, the best rates for you could be different from the best rates for your family, friends or neighbors.
Compare customer service ratings. It's important to choose an insurance company that will make your life easier after a disaster.
Companies with great customer service do this by having a quick and easy claims process and paying you a fair price for repairs. On the other hand, poor service could lead to more back-and-forth with the insurance company, and you may have to pay more to fix your home.
To find the best company, start by comparing ValuePenguin editor's ratings. Our editors consider customer service reviews, coverage availability and cost when choosing the best companies. You can also research J.D. Power scores and view complaints on the National Association of Insurance Commissioners website.
Frequently asked questions
What is the average cost of home insurance in Oklahoma?
The average cost of homeowners insurance in Oklahoma is $4,799 per year, or $400 per month. That's more than double the national average of $2,151 per year.
Why is Oklahoma home insurance so high?
Oklahoma home insurance is expensive because of the frequent severe weather across the state. Oklahoma homes are at a high risk of wind and hail damage due to tornadoes and severe thunderstorms. This makes homes across the state more expensive to insure.
Who has the cheapest homeowners insurance in Oklahoma?
State Farm offers the cheapest home insurance in Oklahoma. It costs around $3,149 per year, which is $1,650 cheaper than the state average.
Who has the best tornado coverage in Oklahoma?
Shelter has the best coverage for severe weather damage in Oklahoma. That's because Shelter's basic policy includes coverage that's helpful for tornado claims, like paid debris removal. It's also very affordable, at $3,688 per year, which is $1,111 less than the Oklahoma average.
How much is homeowners insurance in Tulsa, OK?
Home insurance in Tulsa costs an average of $4,081 per year. That's $718 per year cheaper than the statewide average.
How much is home insurance in Enid, OK?
The average cost of homeowners insurance in Enid is $4,643 per year, which is 3% less than the Oklahoma average.
Methodology
To find the best cheap house insurance in Oklahoma, ValuePenguin gathered quotes from every ZIP code in Oklahoma. Rates are for a 45-year-old married man with good credit and no prior home insurance claims. Quotes include the following coverage limits:
- Dwelling coverage: $200,000, $350,000, $500,000 or $1 million
- Personal liability: $100,000
- Medical payments: $5,000
- Deductible: $1,000
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurance company filings and should be used for comparative purposes only. Your own quotes may be different.
To rank the best home insurance companies in Oklahoma, our editors compared ratings from the National Association of Insurance Commissioners (NAIC) complaint index, J.D. Power's home insurance customer satisfaction rankings and our ValuePenguin editor's ratings.
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.