Best Homeowners Insurance in Oklahoma (2024)
Best overall home insurance in Oklahoma: American Farmers & Ranchers
0.38
$4,466
The company also has a complaint rating from the National Association of Insurance Commissioners (NAIC) that’s much better than average. This means it receives fewer customer complaints than expected for a company of its size.
Pros
Cheapest average home insurance rate in Oklahoma
Below-average complaint rating
Cons
Doesn’t offer as many discounts as some other home insurance companies
No customer satisfaction rating
- American Farmers & Ranchers is the best homeowners insurance company in Oklahoma for low rates, which average $372 a month.
- Allstate has the best coverage options among Oklahoma’s top home insurance companies.
- Farmers offers the best selection of discounts.
Cheapest home insurance in Oklahoma
For the cheapest homeowners insurance in Oklahoma, get a quote from American Farmers & Ranchers.
American Farmers & Ranchers’ average rate of $4,466 a year, or $372 a month, is 11% cheaper than second-place Oklahoma Farm Bureau.
For comparison, Oklahoma’s average home insurance rate is $6,123 a year, or $510 a month.
| Company | Annual rate | Monthly rate | LendingTree score |
|---|---|---|---|
| American Farmers & Ranchers | $4,466 | $372 | Not rated |
 Oklahoma Farm Bureau | $4,994 | $416 |  |
 State Farm | $5,078 | $423 |  |
 Shelter | $5,233 | $436 | Not rated |
 Allstate | $5,553 | $463 | |
 Travelers | $6,374 | $531 | |
 Farmers | $11,160 | $930 | |
To find the cheapest home insurance rate for your situation, compare home insurance quotes from several companies while you shop for coverage.
Best home insurance companies in Oklahoma
American Farmers & Ranchers, Allstate and Farmers are the best homeowners insurance companies in Oklahoma, based on our research.
American Farmers & Ranchers has the state’s cheapest rates. Allstate offers the best coverage options, and Farmers has the best selection of discounts.
| Company | Best for | Average annual rate | Customer satisfaction* | Complaint index** |
|---|---|---|---|---|
| American Farmers & Ranchers | Cheap rates | $4,466 | Not rated | 0.38 |
| Allstate | Coverage options | $5,553 | 809 | 1.3 |
| Farmers | Discounts | $11,160 | 800 | 0.31 |
Best coverage options: Allstate
Allstate is the best homeowners insurance company in Oklahoma for coverage options. Among the optional coverages you can add to an Allstate home insurance policy are:
- Electronic data recovery
- Identity theft restoration
- Musical instruments
- Sports equipment
- Water backup
| Pros | Cons |
|---|---|
Offers more additional coverages than any other company we surveyed in Oklahoma Provides a wide range of discounts | Complaint rating is above average Average rate is below the state average, but still higher than most companies we surveyed |
Best discounts: Farmers
Farmers’ average home insurance premium is the highest of the companies we surveyed in Oklahoma, but it does offer several discounts that could make it the cheapest option for you.
Farmers offers home insurance discounts for:
- Owning a home that’s less than 14 years old
- Having certain protective devices or safety features installed in your home
- Not filing any claims for three consecutive years
- Paying your bill on time
- Enrolling in ePolicy and accepting the Go Paperless terms and conditions
- Bundling your home and auto insurance with Farmers
| Pros | Cons |
|---|---|
Widest range of discounts among companies surveyed Below-average complaint rating | High average home insurance rate Not as many add-on coverages as some competitors Customer satisfaction rating is below average |
How much is home insurance in Oklahoma?
Home insurance in Oklahoma costs $6,123 a year, on average.
These average rates are for a home with a dwelling coverage limit of $400,000. If your policy has a higher dwelling limit, your premium will also be higher, while a lower limit will usually mean a lower premium.
Home insurance cost by dwelling coverage limit
| Dwelling limit | Annual rate | Monthly rate |
|---|---|---|
| $350,000 | $5,447 | $454 |
| $400,000 | $6,123 | $510 |
| $450,000 | $6,748 | $562 |
Your home insurance policy’s dwelling coverage helps pay to repair or rebuild the structure of your home if a fire, hail or other peril damages or destroys it.
Still, your dwelling limit isn’t the only factor that determines what you pay for home insurance in Oklahoma and elsewhere. Other home insurance rate factors include:
- Where you live in the state
- The age of your home
- The amount of coverage you buy
- Your deductible
- Your credit, insurance and claims history
Oklahoma homeowners insurance rates by city
Bartlesville homeowners pay the cheapest home insurance rates among Oklahoma’s largest cities, at an average of $5,114 a year.
Homeowners in Midwest City pay the highest home insurance rates among the state’s biggest cities, at an average of $7,945 a year.
| City | Annual rate |
|---|---|
| Bartlesville | $5,114 |
| Bixby | $5,604 |
| Broken Arrow | $5,550 |
| Edmond | $7,320 |
| Enid | $5,970 |
| Lawton | $6,283 |
| Midwest City | $7,945 |
| Moore | $7,785 |
| Muskogee | $5,285 |
| Norman | $7,123 |
| Oklahoma City | $7,707 |
| Owasso | $5,401 |
| Shawnee | $6,074 |
| Stillwater | $5,851 |
| Tulsa | $5,499 |
In Oklahoma City, the average home insurance rate is $7,707 a year, while Tulsa’s average rate is $5,499 a year.
Additional home insurance coverages needed in Oklahoma
Oklahoma homeowners are no strangers to severe weather, due to all of the tornadoes, severe thunderstorms and hail they experience each year.
The good news is that a standard home insurance policy will cover damage and destruction caused by most of these perils. It won’t cover flood damage, though. You have to buy separate flood insurance to help with that.
Flood insurance in Oklahoma
You need flood insurance coverage to protect your home from flood damage in Oklahoma.
State law doesn’t require homeowners to buy flood insurance, but your mortgage lender may demand it if you live in a high-risk flood zone.
You can buy flood insurance through the National Flood Insurance Program (NFIP) or with some private insurance companies.
Frequently asked questions
American Farmers & Ranchers has the best and cheapest home insurance rates among the companies we surveyed in Oklahoma, at an average of $372 a month. Oklahoma Farm Bureau has the state’s next-cheapest rates, at $510 a month.
The average cost of home insurance in Oklahoma is $6,123 a year, or $510 a month. However, you may pay more or less than this average rate based on factors like the age of your home, the amount of coverage you choose and your deductible.
Home insurance is so expensive in Oklahoma because the state regularly experiences severe weather, like tornadoes, thunderstorms and hail. Each of these perils can cause extensive and expensive damage to a house, so insurance companies that serve the state charge higher rates to offset the associated risk.