Buying a home is an important decision. Choosing insurance to protect that home is even more important. In the event of a fire or natural disaster, you deserve peace of mind. We researched the best homeowners insurance companies in Oklahoma City to help you choose one that’s a perfect fit.
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How we chose the best
ConsumerAffairs thoroughly researched consumer reviews and company information.
Covers dwelling, liability, property and loss of use
How to choose homeowners insurance in Oklahoma City
The cost of homeowners insurance in Oklahoma City depends on where you live. We researched seven popular areas in and surrounding Oklahoma City. We found the average cost of home insurance to be similarly priced in each area. For example, the range for insuring a $200,000 in dwelling coverage in Oklahoma City and surrounding areas is $3,002 to $3,239 per year.
Average home insurance rates in Oklahoma City
Crown Heights (73118)
Lincoln Terrace (73104)
Mesta Park (73103)
Nichols Hills (73116)
Plaza District (73107)
The Village (73120)
Note: Based on dwelling coverage above with a constant $1,000 deductible and $100,000 liability.
Even though the cost of home insurance in the Oklahoma City area is similar, the state of Oklahoma actually ranks 48th in the nation for home insurance expense, coming in at 64 percent higher than the national average. This is largely thanks to extreme weather. Oklahoma City is in the heart of a state that sees tornadoes, straight-line winds, hail storms, flooding and even the occasional ice storm.
Despite higher insurance premiums in Oklahoma City, you may qualify for discounts. According to the Oklahoma Insurance Department, many insurance companies offer discounts for having the following:
Monitored home security system
Multiple policies (i.e. homeowners, auto and life insurance with the same company)
Other upgrades to your home
Discounts can be enticing, but the most important part of homeowners insurance is the peace of mind that comes with knowing your investment is protected. If you are ever faced with a tragedy of losing your home to a fire or tornado, having reliable insurance is critical. In fact, mortgage companies require that you have it.
There are some natural disasters not covered in a homeowners policy. For example, flooding, earthquakes, termite or mice damage and water damage from burst pipes are typically not covered in a standard policy. Unfortunately, there are parts of Oklahoma City prone to flooding, especially in the Deer Creek area and downtown Oklahoma City. To get information about flood protection, visit FEMA's flood insurance program.
In addition to natural disasters, some home liabilities are not covered under a homeowners insurance policy. For example, if someone falls and hurts themselves on a trampoline in your backyard or gets an injury in your swimming pool, you are often not protected against lawsuits. However, you can purchase additional limited liability insurance through your agent for this type of protection.
Lemonade offers homeowners insurance, renters insurance and pet insurance in Oklahoma and select states. Policies include standard coverages, with the option to add “Extra Coverage” with a $0 deductible for jewelry, fine art and other high-value items. Lemonade automatically applies discounts and works with mortgage lenders to handle payments. Coverage starts at $25 per month. Go online or use the Lemonade app to get a fast quote.
Allstate is one of the largest home insurers in the U.S. Its policies include standard coverages and optional add-ons, like scheduled personal property. Discounts are available for combining home and auto coverage, switching from another company, setting up automatic payments and having in-home protection devices. Local agents help with customizing a policy. Ask about Claim Rateguard and Deductible Rewards. Allstate has numerous locations in OKC, including an office at 3200 S. Western Ave., Oklahoma City, OK 73109.
Progressive has 81 agents in the Oklahoma City area alone. It also offers homeowners policies that cover lawsuits against you because of an injury on your property. Discounts include multiple policies and a home security system. Progressive offers an online quote system to start the purchase process.
State Farm has a Discount Double Check feature to ensure you’re getting the lowest premium price available. With an online quote system, 24-hour helpline and resources to help create a home inventory, State Farm has received reviews ranging from three to five stars in the Oklahoma City area, with highlights of being reliable and hardworking.
GEICO offers free online quotes, discounts (including military and multiple premiums) and 24/7 contact through the mobile app, phone or website. GEICO customers can also file a claim online, which simplifies and expedites the process. Customer reviews are mostly positive with customer service being rated high.
Statewide Insurance Agency
Statewide Insurance Agency does the shopping for the consumer by representing more than 10 Oklahoma insurance companies. Statewide also specializes in Oklahoma home insurance, which is unique for Oklahoma City residents. Consumers talk with a local representative when calling customer service. Reviewers give high marks to Statewide’s customer service, professionalism and responsiveness.
Rightway Insurance is local to Oklahoma City, offering a personalized experience. With an online quote feature, prospective clients can request information 24/7. Homeowners policies with Rightway include physical and personal property loss, injury liability and living expenses. Rightway compares rates between insurance companies to offer you the best rate in your area.
ConsumerAffairs content is intended to be used for general information purposes only. Before you make any investment, it is very important to do your own analysis based on your own personal circumstances and consult with your own investment, financial, tax and legal advisors.