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The Best Home Insurance Companies in Oklahoma of 2022

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    Reviews Report

    • Allstate, USAA,Travelers, Farmers, and State Farm made our list of best home insurance companies in Oklahoma.
    • All the Oklahoma home insurance companies ranked in J.D. Power’s 2020 home insurance customer satisfaction study.
    • Four of the five best homeowners insurance companies in Oklahoma averaged lower rates than the state’s average annual premium of $3,519.

    Oklahoma home insurance premiums are considerably higher than average for the nation. However, it is possible to find lower premiums if you know what homeowners in the area typically pay and what types of discounts are available to you. We determined five carriers that we consider to offer some of the best homeowners insurance in Oklahoma based on rates, financial strength and customer ratings, as well as policy customization options and discounts. Before you settle on one carrier, you may find it helpful to get and compare quotes from multiple companies to find the best and cheapest coverage.

    Reviews.com used 2021 Quadrant Information Services data from Bankrate.com to map the average home insurance premium, and a unique in-house methodology to compare discounts, coverage, and third-party evaluations to rank and review the best home insurance in Oklahoma. Compare quotes from carriers that provide home insurance in Oklahoma to make sure you get the best rates available.

    The 5 Best Home Insurance Companies in Oklahoma

    • Allstate: Best Oklahoma Home Insurance for Discounts
    • USAA: Best Oklahoma Home Insurance for Military-Focused Coverage
    • Travelers: Best Oklahoma Home Insurance for Add-Ons
    • Farmers: Best Oklahoma Home Insurance for Pricing Options
    • State Farm: Best Oklahoma Home Insurance for Online Experience

    Compare the Best Home Insurance Companies in Oklahoma

    Average Annual Premiums* AM Best Financial Strength AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. J.D. Power Customer Satisfaction** J.D. Power scores are based on surveys for customer satisfaction and product quality.
    Pin Allstate$2,310A+829
    Pin USAA$2,203A++889
    Pin Travelers$2,771A++803
    Pin Farmers$1,844B++814
    Pin State Farm$3,927A++829

    Information accurate as of August 2021

    * Data provided by Bankrate.com

    **J.D. Power 2020 Home Insurance Satisfaction Study. Based on a 1,000-point scale.

    Allstate

    Best for Discounts

    Why we chose it

    Allstate is a well-known insurance company that offers a one-stop-shop for all of your insurance needs. It has a vast array of resources for its members, and it will even insure your home against earthquakes. Additionally, it is also one of the more affordable options on this list and offers its members abundant ways to save with discounts.
    • $2,310* Average Premium Pricing data comes from our partners at Bankrate.com.
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 829** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Allstate is a well-known insurance company that offers a one-stop-shop for all of your insurance needs. It has a vast array of resources for its members, and it will even insure your home against earthquakes. Additionally, it is also one of the more affordable options on this list and offers its members abundant ways to save with discounts.

    Pros

    • Multiple policies to choose from
    • Great online resources
    • Has earthquake coverage
    • Numerous discount opportunities

    Cons

    • High rating of complaints on NAIC complaint index
    • Financial strength ratings good, but not great
    Read More

    Add-on Coverage

    • Green home
    • Identity fraud
    • Water backup
    • Yard and garden
    • Jewelry/valuable items
    • Electronic data recovery
    • Business property
    • Musical instruments
    • Sports equipment

    Discounts Available

    • Multi-policy
    • Responsible payment
    • Claims-free
    • Welcome and loyalty
    • New homebuyer
    • Protective device
    • Early signing
    • Easy pay plan

    More Allstate Insurance Reviews

    * Data provided by Bankrate.com

    **J.D. Power’s 2020 U.S. Home Insurance Study. Based on a 1,000-point scale.

    USAA

    Best for Military-Focused Coverage

    Why we chose it

    USAA consistently ranks as the top home insurance company in the J.D. Power home insurance study. However, the carrier is technically not officially ranked because it only provides coverage to military personnel and their families. For those who do qualify, USAA offers policies that are designed to fit the military lifestyle and needs.
    • $2,203* Average Premium Pricing data comes from our partners at Bankrate.com.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 889** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    USAA consistently ranks as the top home insurance company in the J.D. Power home insurance study. However, the carrier is technically not officially ranked because it only provides coverage to military personnel and their families. For those who do qualify, USAA offers policies that are designed to fit the military lifestyle and needs.

    Pros

    • Replacement cost coverage included
    • High level of customer service
    • Policies tailored to military family needs

    Cons

    • Only available to current and former military members and their families
    • Limited discounts and coverage options
    • No physical offices in Oklahoma
    Read More

    Add-on Coverage

    Available Discounts

    • Bundle with auto for 10% off
    • Claims-free discount of 10% off
    • Home security system/protective devices discount

    More USAA Insurance Reviews

    * Data provided by Bankrate.com

    **J.D. Power’s 2020 U.S. Home Insurance Study. Based on a 1,000-point scale.

    Travelers

    Best for Add-Ons

    Why we chose it

    Travelers offers numerous optional coverages to help homeowners customize their policies to their specific needs. On top of already lower-than-average rates, the company also has several discounts and superior financial strength.
    • $2,771* Average Premium Pricing data comes from our partners at Bankrate.com.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 803** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Travelers offers numerous optional coverages to help homeowners customize their policies to their specific needs. On top of already lower-than-average rates, the company also has several discounts and superior financial strength.

    Pros

    • Numerous add-on coverages
    • Superior financial strength
    • Lower-than-average rates

    Cons

    • High rating of complaints on NAIC complaint index
    • Lower-than-average customer satisfaction score from J.D. Power
    Read More

    Discounts available

    • Multi-policy discount
    • Home buyer discount
    • Loss free discount

    Unique features

    Travelers offers “green home coverage,” which will provide the funds to repair, replace, or upgrade to more environmentally friendly building materials after a covered loss.

    * Data provided by Bankrate.com

    **J.D. Power’s 2020 U.S. Home Insurance Study. Based on a 1,000-point scale.

    Farmers

    Best for Pricing Options

    Why we chose it

    Farmers insurance is a national insurance company that offers great coverage to its clients. Not only does it offer earthquake protection, but it also gives its members a lot of opportunities to save on their bill every month through their various discounts such as the Non-Smoker discount, a multiple policy discount, and even an added discount if you invest in better security.
    • $1,844* Average Premium Pricing data comes from our partners at Bankrate.com.
    • B++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 814** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    Farmers insurance is a national insurance company that offers great coverage to its clients. Not only does it offer earthquake protection, but it also gives its members a lot of opportunities to save on their bill every month through their various discounts such as the Non-Smoker discount, a multiple policy discount, and even an added discount if you invest in better security.

    Pros

    • Offers lots of discounts
    • Earthquake coverage available
    • More affordable than other options
    • Offices and agents throughout Oklahoma

    Cons

    • Average score for customer satisfaction
    • Limited add-ons
    Read More

    Add-on Coverage

    • Flood
    • Earthquake
    • Replacement cost
    • Scheduled personal property

    Discounts Available

    • Protective devices
    • Non-smoking
    • Multi-policy
    • Vocational
    • Claim-free

    More Farmers Insurance Reviews

    * Data provided by Bankrate.com

    **J.D. Power’s 2020 U.S. Home Insurance Study. Based on a 1,000-point scale.

    State Farm

    Best for Online Experience

    Why we chose it

    State Farm offers a wide range of policies and has a great online presence. Its mobile app is one of the few in the insurance industry that has a great online quote tool that is fast and easy to use. Its mobile app scores highly for Android and iPhone users.
    • $3,927* Average Premium Pricing data comes from our partners at Bankrate.com.
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 829** J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.

    Why we chose it

    State Farm offers a wide range of policies and has a great online presence. Its mobile app is one of the few in the insurance industry that has a great online quote tool that is fast and easy to use. Its mobile app scores highly for Android and iPhone users.

    Pros

    • Wide range of policy offerings
    • Strong mobile app
    • Great online quote tool

    Cons

    • Limited discounts
    • Higher premiums
    • Limited optional coverages
    Read More

    Add-on Coverage

    • Flood insurance
    • Personal articles
    • Mobile home insurance

    Discounts Available

    • Home alert protection discount (fire, smoke, or burglar alarms)
    • Multiple line discount
    • Roofing discounts based on the type of roofing products on the house

    More State Farm Insurance Reviews

    *Data provided by Bankrate.com

    **J.D. Power’s 2020 U.S. Home Insurance Study. Based on a 1,000-point scale.

    Average Cost of Home Insurance in Oklahoma

    Premiums for home insurance in Oklahoma City and other areas of the state are high. According to 2021 data from Bankrate.com, rates average $3,519 per year for $250,000 in dwelling coverage, far higher than other states such as New York’s ($987 a year) or Florida’s (at $1,353 a year).

    A likely contributing factor is the state’s proximity to Tornado Alley. Destructive weather events are common in Oklahoma and cause expensive damages to homes and properties. While Oklahoma averages around 40 tornadoes per year, there were 149 in 2019, breaking the state record. 

    In general, residents may pay higher home insurance premiums in Oklahoma based on the likelihood of having to file a homeowners insurance claim. With commonly-occurring tornadoes and the variety of other perils and hazards in the state, Oklahoma homeowners may be more likely to suffer a loss and file a home insurance claim than residents of other states, which can drive up rates.

    The Cheapest Homeowner Insurance Companies in Oklahoma

    Homeowner  Insurance CompaniesAverage Annual Premium*
    Farmers$1,844
    USAA$2,203
    American Farmers & Ranchers Mutual$2,287
    Allstate$2,310
    Travelers$2,771
    AAA$3,055
    Oklahoma Farm Bureau$3,236
    Armed Forces Ins Exch$3,650
    American National$3,682
    State Farm$3,927
    Chubb$5,218
    The Hanover$6,352

    *Based on $250,000 in dwelling coverage

    Top 3 Cheapest Homeowner Insurance Companies in Oklahoma

    • Farmers Insurance – $1,844
    • USAA – $2,203
    • American Farmers & Ranchers Mutual – $2,287

    Top 3 Most Expensive Homeowner Insurance Companies in Oklahoma

    • The Hanover – $6,352
    • Chubb – $5,218
    • State Farm – $3,927

    Common Home Insurance Perils in Oklahoma

    Oklahoma homeowners have to worry about more than just tornadoes. A local News 9 report says Oklahoma is also vulnerable to “hailstorms, straight line winds, wildfires, ice storms, flash flooding, and even earthquakes”. Here is a breakdown of common Oklahoma home insurance perils:

    • Hailstorms: An April, 2021 hailstorm across Texas and Oklahoma was reported to have caused damages and losses of $3.5 billion
    • Wildfires: There are burn bans throughout Oklahoma in an attempt to lower the risk of wildfires. More than 30,000 acres burned in 2020.
    • Ice storms: A freak ice storm in October of 2020 left over 300,000 people without power. The storm was the worst in the last five years causing extensive tree damage and other types of property issues.
    • Flash floods: Flash floods are the deadliest type of peril in Oklahoma. Their sudden appearance makes it difficult to predict and prevent losses.
    • Earthquakes: Since 2009, earthquakes have become a regular occurrence in the state. In fact, the frequency of earthquakes 3.0 or greater have become more common in Oklahoma than in California.

    Add-on home insurance coverage in Oklahoma

    Oklahoma is vulnerable to a variety of weather-related and natural perils. It’s why Oklahoma  home insurance rates are so high. A standard home insurance policy does not cover every type of event. Based on the area you live in and your personal needs, you may need to purchase additional coverages or separate policies for more comprehensive protection. 

    While most homeowners in states with far less extreme weather can get away with a standard HO-3 policy, Oklahoma residents are more at risk for floods, earthquakes, tornadoes and other events that could cause serious losses. Add-ons for flooding and earthquakes may be available through carriers such as Farmers, State Farm and USAA. You may also be able to find flood insurance through the federally-run FEMA.

    Oklahoma Home Insurance FAQ

    Methodology

    We evaluated the companies based on their third-party agency ratings for customer experience, financial stability, as well as coverage options to determine which might be the best providers. 

    To compare home insurance companies across the board, we considered the following factors:

    • Coverage: The more options a home insurance company has for insurance add-ons and coverages, the higher it scores in our methodology.
    • Customer Experience: We reviewed the National Association of Insurance Commissioners’ National Complaint Index and compared each homeowners insurance company’s complaint rating.
    • Customer Satisfaction: With J.D. Power’s 2020 Home Insurance Satisfaction Study, we assigned a score to each company based on the rating it received.
    • Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each home insurance company’s financial stability.
    • Discounts: We reviewed and compared the number of discounts advertised on each home insurance company’s website. The more available discounts, the higher the score in this metric.

    Rates are based on quoted annual premiums from Bankrate.com. These are sample rates and should be used for comparative purposes only. Your quotes may be different.

    The coverage limits for home insurance rates reflect the following coverage and limits:

    • Coverage A, Dwelling: $250,000
    • Coverage B, Other Structures: $25,000
    • Coverage C, Personal Property: $125,000
    • Coverage D, Loss of Use: $50,000
    • Coverage E, Liability: $300,000
    • Coverage F, Medical Payments: $1,000

    The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

    About the Authors

    Cynthia Paez Bowman is a contributing writer for Reviews.com. Over the last two years, she has covered insurance, home security and more. She has been featured in MSN, Bankrate, Coverage.com, The Simple Dollar and GOBankingRates. She has dual bachelors degrees in International Business and Journalism from American University in Washington, D.C. “Is It Getting Harder to Get Home Insurance in High-Risk Areas?” is Cynthia’s favorite story on Reviews.com.

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