When picking a home insurer, you should look for the right blend of affordable rates, varied coverage options and reliable customer service. We've collected thousands of homeowners insurance quotes and evaluated nine of the top choices for coverage in Oklahoma, and made recommendations that will suit a variety of homeowners' needs.
Compare Home Insurance Quotes from Providers in Oklahoma
In Olkahoma, the best price for homeowners insurance is $1,576 annually. But you shouldn't just go with the cheapest option for coverage — great service and useful coverage options are equally important.
Best for most people: Oklahoma Farm Bureau
The best homeowners insurance company for most people in Oklahoma is Oklahoma Farm Bureau. Although the only category in this survey that Oklahoma Farm Bureau has the top spot for is customer satisfaction, the company provides Oklahoma with the best balance of affordability, customer service and quality coverage.
With an average annual cost of $1,755, Oklahoma Farm Bureau has the second cheapest prices among the companies we surveyed. Even though the company charges a membership fee of $25 to 40 per year on top of the annual premium, the cost of a homeowners policy is still about 30% cheaper than the state's average price of $2,559.
Oklahoma Farm Bureau has high customer satisfaction among its policyholders. The company scored a 0.00 on the National Association of Insurance Commissioners's (NAIC) complaint index. This means that Oklahoma Farm Bureau received no complaints from its policyholders in 2018; however, the company's small number of premiums mean that it may be more difficult to compare this metric with its larger competitors.
A.M. Best, a firm that measures financial stability, awarded Oklahoma Farm Bureau with a "Good" ranking, or a B++. We feel that in ordinary situations, the benefits of coverage outweigh Oklahoma Farm Bureau's lower financial stability; however, this company is more likely to run into difficulty paying out claims than those companies with A rankings or better.
Cheapest home insurance: American Farmers & Ranchers
The cheapest homeowners insurance in the state on average comes from American Farmers & Ranchers (AFR), where the average cost of $1,576 for a yearlong policy is almost 40% cheaper than Oklahoma's mean cost. AFR also enables you to save with a number of discounts. The insurer offers up to 20% off if you reinforce your roof, up to 30% if you have a new or recently renovated home and 20% off your premium if you're claim-free for a period of time that's up to your local agent's discretion. If you're looking for good coverage at a cheap price, this company could be worth considering.
If you want to insure your farm, you also might benefit from checking out AFR's rates. A policy from this company usually covers the loss of livestock if they're frozen, even if they don't actually perform work on your farm or ranch. These provisions could be useful for protecting animals that you show for 4H from the dangerous wintry weather that often occurs in Oklahoma.
Unfortunately, AFR has higher amounts of unsatisfied customers than is typical for a company its size. The NAIC calculated that AFR has a 1.11 on its complaint index. This means that AFR receives about 33% more complaints than other similarly sized companies.
Best for weather-related perils: Farmers
If you're concerned about the amount of dangerous weather that affects Oklahoma, homeowners insurance from Farmers is the best way to protect yourself and your property against damage that severe storms can cause. Like most policies, Farmers' homeowners insurance safeguards your property from perils like fire, rain, hail and other falling objects. Farmers also enables you to receive discounts for upgrading the structure of your home, such as reinforcing your windows or roof.
With these discounts, Farmers incentivizes you to invest in improvements that are already in your long-term estimates. Say you upgrade your roof to prepare for Oklahoma's notorious hailstorms. If you had Farmers homeowners insurance, you would be eligible for a discount on your policy. Because you might not have to make a claim after every hailstorm if you've fortified your roof, there's a better chance you'd avoid an increase to your premium.
Since the average cost of home insurance from Farmers in Oklahoma is $2,245 per year — which is still below the state's average — your savings with Farmers could allow you to continue to pay less than many other homeowners in the state.
Best for service members: USAA
If you're an active-duty or retired member of the military or an eligible family member, you might consider homeowners insurance from USAA. The price of a typical USAA homeowners insurance policy in Oklahoma is $2,448 — about 4% less than the statewide average. USAA also ranks highly in customer satisfaction, earning a 5/5 from J.D. Power and a score of 0.14 from the NAIC.
Even though its prices are about average in Oklahoma, USAA is perhaps most useful to eligible property owners in Oklahoma because its standard policy comes with replacement cost coverage that could protect against extreme weather. This means that if a powerful storm, like a tornado, destroys your home, the insurer wouldn't factor in your property's depreciation when deciding your compensation. Often, this type of upgrade carries an additional cost with other insurers.
Insurers with the best and worst customer service in Oklahoma
To compare customer service among the top homeowners insurance providers in Oklahoma, we used the NAIC's complaint index and the scores awarded by J.D. Power. The companies with the best customer service were Oklahoma Farm Bureau, USAA and State Farm; while the companies with the worst scores were CSAA (associated with AAA), American Farmers & Ranchers and American National.
|Companies||NAIC Score||J.D. Power||AM Best (financial strength)|
|Oklahoma Farm Bureau||0.00||n/a||B++|
|American Farmers & Ranchers Mutual||1.11||n/a||n/a|
What are the cheapest options for homeowners insurance in Oklahoma?
The average annual cost of homeowners insurance in Oklahoma is $2,559. This figure is significantly higher than the average cost of home insurance in the United States, which amounts to $1,083. The cheapest homeowners insurance companies in our study were American Farmers & Ranchers and Oklahoma Farm Bureau Insurance; the most expensive companies in our study were CSAA (associated with AAA) and Allstate, though the price of your policy could vary depending on your area.
You can view the average costs of all the insurers in this survey here:
Find Cheap Homeowners Insurance Quotes in Your Area
Most common homeowners insurance perils in Oklahoma
Oklahoma experiences a higher amount of severe weather than other parts of the United States. If you're a property owner in the state, you should prepare for damage from severe and extreme thunderstorms, hail and freezing precipitation like sleet or snow.
Thunderstorms in Oklahoma can produce damaging winds and tornadoes. Though your homeowners insurance covers wind damage, your policy won't necessarily be enough to rebuild your home if it were destroyed. You should consider upgrading your standard homeowners insurance to include replacement cost coverage, which doesn't account for your property's depreciation when determining compensation.
Oklahoma's thunderstorms can also produce large hail. Your homeowners insurance typically covers hail (since it covers falling objects), but since the state experiences frequent hailstorms, it could be smart to take precautions by reinforcing your roof and windows. Even though your insurance can compensate you for hail damage, making lots of claims has been known to increase your premiums.
You could also face winter storms that produce freezing rain during Oklahoma's wintertime. Your homeowners insurance likely has restrictions on freezing. For example, homeowners insurance policies don't always cover freezing that happens to plumbing systems. To be sure, you should check with an agent before settling on a provider.
Oklahoma's insurance rates: city-by-city breakdowns
We also calculated the average price of home insurance in every city in Oklahoma with more than 20,000 people. If you're exploring a move, or if you just want to see how your city's prices compare to those throughout the rest of the state, check out this table.
|City||Average homeowners premium||Difference from statewide average|
As the table shows, the premiums homeowners see can vary greatly by location. Where you live often correlates with how much your property is worth, and it also determines how likely your home is to suffer damage from natural disasters that an insurer would have to pay for. For more information on the cost of homeowners insurance, check out our in-depth study of average home insurance rates across the U.S.
For our study, we gathered quotes from each of Oklahoma's ZIP codes. We used a sample property that was built in 1978 and measured 2,100 square feet. The home was insured to Oklahoma's median cost of a home, $137,400.
Quotes for this home were obtained from nine of the largest providers in Oklahoma: State Farm, Farmers, Allstate, USAA, CSAA, Oklahoma Farm Bureau, American Farmers & Ranchers, Travelers, and American National. Unfortunately, we excluded Safeco, Shelter and Chubb from our study due to technical limitations.
We then averaged the data for the entire state and for each ZIP code. For our city-specific examination, we chose one sample ZIP for each of Oklahoma's cities with over 20,000 people and calculated the average price of coverage.
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.