The Best Cheap Renters Insurance in Oklahoma (2024)
State Farm has the cheapest renters insurance in Oklahoma, at $16 per month on average.
Compare Cheap Renters Insurance Quotes in Oklahoma
Best Cheap Renters Insurance in OK
ValuePenguin editors found the best cheap renters insurance companies in Oklahoma by looking at rates, customer satisfaction, coverage options and discounts.
Our experts calculated average renters insurance rates by gathering quotes from seven top companies across 24 of Oklahoma's largest cities.
Cheapest renters insurance in Oklahoma
The cheapest renters insurance prices in Oklahoma come from State Farm, where a policy costs $16 per month. That's 48% cheaper than the statewide average.
The average cost of renters insurance in Oklahoma is $31 per month for $30,000 of coverage for your stuff.
Lemonade is only a little more expensive than State Farm. Its rates are about a dollar more per month.
Find Cheap Renters Insurance Quotes in Oklahoma
There's a big price difference among renters insurance companies for Oklahomans. The most expensive option, Farmers, is nearly four times more costly than State Farm and Lemonade.
Cheapest renters insurance companies in Oklahoma
Company | Monthly cost | ||
|---|---|---|---|
| State Farm | $16 | |
| Lemonade | $17 | |
| Progressive | $27 | |
| Amica | $32 | |
| Assurant | $33 | |
Overall, renters insurance is very expensive in Oklahoma compared to other states. The state average of $31 per month is the fifth-highest nationwide.
However, the cost of renters insurance in some nearby states is even higher. Arkansas renters pay an average of $35 per month, and Louisiana has the highest average price in the nation at $36 per month.
Best renters insurance in Oklahoma for most people: State Farm
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Editor's rating
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Cost: $16/mo
State Farm has the cheapest rates, plus one-on-one customer service.
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Cheapest rates in OK
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One-on-one customer service
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Flood insurance available
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Few discounts
State Farm has the best renters insurance for most Oklahoma renters. Its rates are the best in the state, at $16 per month. That's about half the price of a typical company statewide.
You won't find many good discounts at State Farm, except for a bundle discount. When you bundle your renters and auto policies together, State Farm will give you a discount on both — and State Farm is one of the cheapest Oklahoma car insurance companies, too.
Unlike a lot of other renters insurance companies, State Farm has in-person agencies across Oklahoma. If you buy a policy from State Farm, you'll be paired with an agent near you who can answer questions about your policy over the phone or in person, or help you file a claim.
However, State Farm's overall service is about average, especially when it comes to filing a claim. It got slightly more complaints than a typical company. It ranked slightly better than average in a national customer survey of renters insurance companies performed by J.D. Power, but not exceptionally well.
Best online experience: Lemonade
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Editor's rating
- Cost: $17/mo
Lemonade has cheap rates, plus a great online experience and good coverage options.
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Cheap quotes
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Easy online tools and smartphone app
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Many extra coverage options
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Lots of customer complaints
Lemonade has very affordable renters insurance, at $17 per month for $30,000 of personal property coverage.
It's only about a dollar more per month than the cheapest option, and it has a well-made app and website.
It's very easy to buy and manage your policy online, and its mobile app is intuitive to use. However, you won't get the same level of personalized service offered by a local agent.
Lemonade has a mixed reputation for customer service. It got a good score on a recent customer satisfaction survey among renters insurance companies by J.D. Power. However, Lemonade gets far more complaints than an average company according to the National Association of Insurance Commissioners (NAIC), an industry group. This suggests you may have trouble getting a prompt payout when you're filing a claim.
Lemonade has good but not great coverage options.Importantly, all its policies include replacement cost coverage. This means when you file a claim, you'll get enough money to buy a new replacement for whatever is damaged or lost, regardless of how old it is. For example, if your TV cost $1,000 new but is only worth $300 now, Lemonade will pay you the full $1,000 to replace it (minus your deductible).
Lemonade doesn't offer flood insurance or equipment breakdown coverage. However, the coverage available from Lemonade is usually enough to protect most renters.
Best renters insurance for extra coverage and discounts: Progressive
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Editor's rating
- Cost: $27/mo
Progressive offers a wide range of coverage options to extend your policy.
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Umbrella coverage
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Several discounts available
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Weak customer service
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Average rates
Progressive has a wide selection of optional coverages to boost your protection.
For renters who need more protection from their policy than just the basics, Progressive offers several coverage add-ons. These include identity theft protection, umbrella coverage and more.
Progressive renters insurance extra coverages
- Umbrella coverage
- Higher limits for expensive items
- Equipment breakdown
- Identity theft protection
- Mold damage
Progressive also sells flood insurance, though it's sold separately, not as an add-on to renters insurance.
Another benefit is Progressive's shared deductible across a bundled renter and auto policy. If your apartment and car are both damaged by the same fire, you'll only have to pay your deductible one time. You'll also only need to file one claim instead of two.
While Progressive's prices in Oklahoma are just average, the company does have a good selection of discounts. This includes a discount for bundling your policy, as well as a discount for paying your annual bill up front (instead of monthly).
Progressive discounts for Oklahoma renters
- Renters-auto bundling
- Electronic document delivery
- Gated community
- Quote in advance
- Single deductible
- Pay in full
Progressive's customer service is very poorly rated, however. It ranked last in the most recent J.D. Power customer satisfaction survey for renters insurance. The company also gets 43% more complaints than an average company its size, according to the NAIC. This suggests customers are relatively likely to be unhappy with their service, especially while dealing with an insurance claim.
Renters insurance in Oklahoma: Rates by city
Renters in Tulsa pay the most for renters insurance in Oklahoma, at $37 per month.
Renters insurance prices in Tulsa are 20% higher than the state average.
In comparison, renters in Arlington have the cheapest renters insurance among major cities in Oklahoma, at $20 per month, on average.
The cost of renters insurance changes based on where you live. You might pay more if you live in a city with high crime rates or less if your home is close to a fire station.
City | Monthly rate | % from average |
|---|---|---|
| Ardmore | $29 | -4% |
| Bartlesville | $28 | -9% |
| Bethany | $25 | -18% |
| Bixby | $28 | -8% |
| Broken Arrow | $29 | -5% |
Tips for getting cheap renters insurance in OK
Renters should always compare quotes, use discounts and figure out their coverage needs to get the lowest price on renters insurance in Oklahoma.
Add up the cost of all your belongings. The total dollar value of your possessions is how much personal property coverage you need to buy. That's because you want to make sure you'll be fully reimbursed if you lose everything in a fire or another disaster. But if you file a claim, you'll never be paid more than the value of your stuff. Having the correct amount of coverage will keep you fully protected without overpaying for insurance.
You can save hundreds of dollars per year by comparing quotes. The most expensive renters insurance company in Oklahoma, Farmers, costs $471 per year more than the cheapest company, State Farm, for the same level of coverage.
It's also important to compare quotes regularly because every company's prices change over time. The cheapest company last year might not be the cheapest anymore.
Renters insurance companies offer discounts to responsible renters.
One of the best discounts for renters insurance is for bundling your renters insurance together with your car insurance, or another kind of coverage like pet insurance. Insurance companies essentially give you a buy-in-bulk discount for getting multiple policies.
Common renters insurance discounts
- Pay in full/autopay discount
- Buy in advance discount
- Military discount
- Paperless discount
- Discounts for switching or loyalty
Common natural disasters in Oklahoma
The most common disasters in Oklahoma are windstorms and flooding.
Does renters insurance cover tornadoes in Oklahoma?
Yes, windstorm and tornado damage is covered by renters insurance.
Tornado winds, as well as hail, are covered by renters insurance. Wind is one of the standard causes of damage that's always included in renters insurance.
However, renters insurance never covers damage to your car from a tornado or anything else. If you have to park your car outside, consider buying comprehensive coverage with your car insurance. This pays for damage to your car from tornadoes and fires, as well as theft.
Does renters insurance cover flooding in Oklahoma?
Renters insurance doesn't pay for damage from flooding.
If you live near a river or in a low-lying area and are concerned about flooding, consider buying flood insurance in addition to your renters policy, especially if you live in a house or first-floor apartment in an area at risk for flooding.
Frequently asked questions
How much is renters insurance in Oklahoma?
Renters insurance in Oklahoma costs $31 per month, on average. The cheapest renters insurance in Oklahoma comes from State Farm, where a policy costs around $16 per month.
What does renters insurance cover in Oklahoma?
A standard renters insurance policy will always offer personal property protection, liability coverage, medical payments to others and additional living expenses. In addition, some companies offer optional coverages for renters who need more protection, like replacement cost coverage or identity theft protection.
Can a landlord require renters insurance in Oklahoma?
Yes, your landlord can require you to have renters insurance. Your landlord may ask you to purchase a policy to help protect themselves from being held responsible if your belongings are damaged or someone is hurt in your home.
How much does renters insurance cost in Oklahoma City?
Renters living in OKC can expect to pay $35 per month for insurance. That's 13% more expensive than the Oklahoma state average. In comparison, people living in Tulsa pay $37 per month for renters insurance, the highest in the Sooner State.
Methodology
ValuePenguin collected more than 140 quotes from across 24 major cities in Oklahoma for a single 30-year-old woman who has never filed a renters insurance claim. Coverage limits include:
- $30,000 of personal property coverage
- $9,000 for loss of use
- $500 deductible
- $100,000 of personal liability
- $1,000 of medical payments to guests
Customer service ratings were created using cost data, information from the National Association of Insurance Commissioners (NAIC) complaint index scores and J.D. Power's 2023 renters insurance customer satisfaction study rankings.
These rates should be used for comparative purposes only. Your quotes will likely differ.
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.