Of the biggest home insurance providers in Oklahoma City, Allstate has the cheapest average rate at $438 a month. The state of Oklahoma has the most expensive rates for homeowners insurance in the U.S., and Oklahoma City is no different.
This makes finding the most affordable home insurance policy a high priority. We'll help break down Oklahoma City's biggest home insurance providers' costs versus their policy offerings to get you the best coverage at the lowest price.
This article will cover
Oklahoma City's cheapest home insurance companies
Allstate has the cheapest homeowners insurance rates in Oklahoma City, with an average premium of $438 a month. USAA has the next-lowest rates at $441 a month.
| Company | Monthly rate |
|---|---|
| Allstate | $438 |
| USAA | $441 |
| Oklahoma Farm Bureau | $476 |
| Shelter | $481 |
| American Farmers | $661 |
| Travelers | $709 |
| State Farm | $793 |
| Farmers | $923 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
It needs to be pointed out that USAA only provides home insurance for military personnel and veterans. If you're not a member of the military, Oklahoma Farm Bureau has the second-lowest rates available at $476 a month.
How much is home insurance in Oklahoma City?
The average cost of homeowners insurance in Oklahoma City is $615 a month. This is 98% more than the average Oklahoma state home insurance rate of $311 a month, and 321% more than the national average home insurance rate of $146 a month.
| Region | Monthly rate |
|---|---|
| Oklahoma City | $615 |
| Oklahoma | $311 |
| U.S. | $146 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Oklahoma has the highest average rates of home insurance in the country, and Oklahoma City's rates exceed those significantly. This is largely due to its position in the heart of Tornado Alley.
In 2013, for example, a category F5 tornado killed 24 people and caused an estimated $2 billion in damage. And between 2000 and 2021, the Oklahoma City area was struck by two or more tornadoes on a single day 12 times.
Insurers take these extreme risk indicators into account when calculating home insurance quotes in Oklahoma City. Other factors that affect your rates include:
- The age of the home
- Construction materials used
- Your insurance history
The deductible you choose for your home insurance policy also has an effect on your premium. The higher the deductible you choose, the lower your premium.
Take advantage of any opportunities you can to get the lowest rate you can. The best way is to compare home insurance quotes from multiple companies. Looking at policy offerings and quotes side by side will go a long way towards making sure you're getting the best coverage at the cheapest price.
Find cheap home insurance in Oklahoma City
Who are the best home insurance companies in Oklahoma City?
We found Allstate and USAA to be the best homeowners insurance companies operating in Oklahoma City. Here's why:
Allstate: Cheapest rates and best discounts
Allstate's average rate for home insurance in Oklahoma City is $438 a month. This is 27% cheaper than the average Oklahoma City rate of $615 a month. One of the reasons for Allstate's low rate is its exceptional policy discount options. These include:
- Welcome and loyalty discount: Save 10% on your home insurance when you switch to Allstate. This discount stays as long as you have your policy with Allstate.
- Multipolicy discount: Bundling your home insurance policy with an auto or life insurance policy through Allstate can save up to 25% on your premiums.
- Early signing discount: Save up to 10% on your premium by signing up for a new home insurance policy at least seven days before expiration of your current policy.
- Easy pay discount: Save 5% on your home insurance by setting up automatic payment.
- Claim-free discount: Signing on with Allstate with no recent claims on your homeowners insurance can save you up to 20%.
USAA: Best for military members
USAA has an average rate of $441 a month for homeowners insurance in Oklahoma City. USAA is often considered the best of the best for insurance providers. In J.D. Power's 2022 U.S. Property Claims Satisfaction Study, USAA received a score of 893 out of 1,000. This score reflects overall customer satisfaction based on claim factors such as response time and payout.
The only real downside to USAA is that it only provides home insurance for currently serving and veteran military, so J.D. Power does not include the company in its official ranking of companies. Otherwise, USAA would be at the top of the list.
Methodology
We collected quotes from every ZIP code in Oklahoma City from the following home insurance companies:
- Allstate
- American Farmers
- Farmers
- Oklahoma Farm Bureau
- Shelter
- Travelers
- State Farm
- USAA
Average rates for a standard HO-3 homeowners insurance policy were calculated using the following coverages:
- $275,000 dwelling (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
Sources:
Home insurance by city
- Oklahoma City
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