Average homeowners insurance cost in Oklahoma

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Whether you’re buying a new home or want to protect the property you currently own, it’s important to have sufficient homeowners insurance coverage in place. However, home insurance policies can get expensive, depending on your insurer and the coverage level you choose.

On average, Oklahoma homeowners insurance costs $5,749 a year, based on Insure.com’s data.

Learn more about the average homeowners insurance rates by company and ZIP code in Oklahoma.

Average home insurance cost in Oklahoma by coverage level

The average cost of homeowners insurance in Oklahoma is $5,749 per year for the coverage limits of $300,000 dwelling coverage and $100,000 liability with a $1,000 deductible.

However, if you increase the dwelling coverage limit from $300,000 to $400,000, you will pay $4,222 per year for homeowners insurance in Oklahoma for $100,000 in liability protection and $1,000 deductible. Below, you can find the average cost of homeowners insurance in Oklahoma for dwelling coverage of $300,000, $400,000 and $500,000.

Homeowners insurance companies in Oklahoma decide rates based on risk. They consider your location, claims history and coverage limit when calculating premiums.

If your neighborhood has seen many claims over the past few years, you can expect to pay higher home insurance rates than an area with few to no claims.

Best homeowners insurance companies in Oklahoma

It’s always wise to shop around and compare prices before you buy homeowners insurance. There are many factors that go into deciding the best homeowners insurance company.

We have compared the insurers in Oklahoma using their NAIC score and AM Best rating and compiled a list of the best homeowners insurance in Oklahoma. Based on the analysis, Shelter Insurance received the lowest NAIC score and A rating from AM Best. A lower NAIC score indicates fewer complaints relative to the company’s size, suggesting higher customer satisfaction.

Average homeowners insurance cost by company in Oklahoma

State Farm has the cheapest homeowners insurance rates in Oklahoma. Its average annual cost for Oklahoma homeowners is $4,121. Oklahoma Farm Bureau and Allstate also offer affordable insurance.

By comparing homeowners insurance rates, you could save hundreds, if not thousands, of dollars annually.

The table below shows the average annual and monthly insurance rates for homeowners in Oklahoma with $300,000 in dwelling coverage, $100,000 in liability coverage, and a $1,000 deductible.

Oklahoma homeowners insurance rates by ZIP code

In Oklahoma, insurance companies evaluate the risk associated with specific locations to determine premiums. ZIP codes with higher crime rates or a history of natural disasters are often considered high-risk, resulting in higher insurance premiums. Additionally, the cost of rebuilding or repairing homes in a particular ZIP code can influence your price for a homeowners insurance policy.

Shop around and compare quotes from different insurance companies to find the best home insurance rates in Oklahoma. Also, remember to inquire about any discounts, such as bundling policies or smart home discounts, to help lower your premium.

Most affordable ZIP codes for home insurance rates in Oklahoma

Homeowners insurance costs in Oklahoma can vary widely by location, with your ZIP code being a key factor in determining your rate. Based on our data, the the 74960 area has the most affordable insurance rates, at $4,952 annually or $413 monthly.

Below are the homeowners insurance rates for the most affordable ZIP codes in Oklahoma.

Most expensive ZIP codes for home insurance rates in Oklahoma

Your ZIP code plays a significant role in determining the cost of your homeowners insurance. In Oklahoma, some areas face higher premiums due to factors like high crime rates, greater risk of natural disasters and higher living expenses.

In Oklahoma, 73128 has the highest homeowners insurance rates, at $6,904 per year.

Here, we’ve highlighted some of the most expensive ZIP codes in Oklahoma for homeowners insurance:

Home insurance rates vary from one city to another. But with Insure.com, finding the right home insurance policy is easy. Learn more about homeowners insurance costs for different cities below.

Home insurance rate trend in Oklahoma

We analyzed home insurance rate trends in Oklahoma and found that homeowners insurance rates experienced an overall increase of 17% or $815, from 2022 to 2023.

The data below shows how much homeowners insurance rates have changed since 2019.

To choose the right homeowners insurance, it’s important to conduct thorough research and compare rates from various insurers, as each evaluates risk differently. Comparing quotes from at least three companies can help you secure the most affordable coverage in Oklahoma.

Resources & methodology

Source

S&P Global. “US homeowners insurance rates jump by double digits in 2023.” Accessed September 2024.

Methodology

Insure.com worked with Quadrant Information Service to get homeowners insurance data. We analyzed 20,739,560 insurance quotes from 82 national and regional insurance companies across 34,588 ZIP codes to determine the average premiums.

The insurance rates are based on a sample profile of a homeowner with good credit and the following coverage level:

• $300,000 dwelling coverage
• $100,000 liability protection
• $1000 deductible

We have taken into account 3 important factors such as average annual cost, NAIC score and AM Best rating, to determine the list of best homeowners insurance companies. The quoted insurance rates are for comparison purposes, and your individual rates may vary.

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Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

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