7 Best Homeowners Insurance Companies in Oklahoma of 2023
Residents living in the Tornado Alley of Oklahoma should be aware of the wind, hail, and fire risk factors when purchasing homeowners insurance today.
Our experts find that weather-related homeowners' claims continue to challenge the marketplace in Oklahoma.
When evaluating home insurance policies today, look for deductible options for different coverages, credits for home fortification or new roof discounts, and even safety gadgets that can reduce your premium in Oklahoma.
Lowering your premiums by reviewing coverages and pricing annually is worth the effort and may save money on premiums in cities across Oklahoma.
We recommend that residents in all towns, even Norman and Okeene, discuss insurance coverage with the company or agent to ensure that coverage and pricing are current each year.
What you’ll find In this article is our experts sharing information about claims, coverage, customer service, technology, and pricing for homeowners insurance all across Oklahoma.
Best Homeowners Insurance in Oklahoma
- State Farm: Best for High-Valued Homes
- Allstate: Best for Claim-Free Discounts
- Progressive: Best for Affordable Options
- USAA: Best for Military Families
- Farmers: Best for Newer or Green-Certified Homes
- Nationwide: Best for Basic Coverage
- Amica Mutual: Best Insurance for Customer Service
State Farm: Best for High-Valued Homes
State Farm may have a niche market when it comes to insuring high-valued homes.
Our industry experts reveal when insuring home values of more than $250,000, State Farm has a competitive insurance policy.
The Oklahoma Department of Insurance notes State Farm in the top 10 insurance companies for the state.
State Farm offers optional high-limit coverage choices, increased liability limit options, and flexible endorsements to extend or increase coverage for homeowners with unique properties and high-valued homes.
State Farm's flexible pricing options can also save premium dollars when bundling home and car insurance.
Read our full State Farm Homeowners Insurance review.
State Farm Homeowners Insurance Discounts
- Bundling: Combine homeowners and car insurance.
- Roofing Discount: Hail-resistant or class 4 shingles are eligible.
- Home Security Protective Devices: An installed fire, smoke, burglar alarm, or other monitoring systems for protection are eligible.
- Deductible Choices: Deductibles may not be a true discount, however with State Farm, they can positively impact the premium by choosing a higher deductible.
State Farm Homeowners Insurance Pros and Cons
- There are plenty of options to increase your prior limits or purchase high coverage limits including a $1 million personal liability option.
- A mobile app for consumers in every line of insurance for online access.
- High-valued homes and unique property structures coverage that is competitive.
- Customer service scores across the state of Oklahoma are lower than the national average where State Farm recently ranked third.
- Eligible discounts for homeowners are less than what most companies offer.
- There isn’t an option for completing a property inventory in the mobile app.
|J.D. Power (out of 1,000)||829|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||1.77|
Allstate: Best for Claim-Free Discounts
We choose Allstate for the premium-reducing claim-free discounts available in Oklahoma.
Residents can positively impact insurance premiums from Broken Arrow to Durant with a claim-free history.
The wind in tornado alley wreaks havoc every year on residents across Oklahoma.
Customers new to Allstate in Claremore or Ada can receive a 5% discount upfront for a claim-free loss history.
Consumers fortunate enough to remain claim-free will see the claim-free discount offered again each year customers stay claim-free.
A third claim feature is an endorsement you can add to your policy so a future claim will not incur a premium surcharge or rate increase when a loss does occur.
Deductible rewards can lower your insurance premiums if you stay claim-free, reducing your deductible by $100 per year, up to a total benefit of $500 on the following claim.
Read our full Allstate Homeowners Insurance review.
Allstate Homeowners Insurance Discounts
In Oklahoma, the claim-free discount for homeowners can be significant.
In addition, if you shop ahead for coverage, and bundle policies it may keep more money in your pocket with the discounts.
- Claim-Free: Multiple discount options that support claim-free customers up to a 20% discount.
- New Roof Savings: The newer your roof the better the savings.
- Home Buyer Discount: All new home buyers and newly constructed homes are eligible.
- Welcome: You can save up to 10% just for becoming a new customer.
- Early Signing Document: Shop and buy your insurance at least one week before it expires for premium savings.
- Protective Device Discount: Active theft or fire protection devices.
- Responsible Payor Discounts: Paying your insurance bill on time.
- Home & Auto Discount: Bundling your car insurance can save up to 25% overall.
- Multi-policy: Save up to 25% when you bundle home and auto.
Allstate Homeowners Insurance Pros and Cons
- Claim-free discounts even in a volatile market.
- 5% discount every year you stay claim-free. (Up to20%)
- Optional coverage to reduce premium increases due to future claims.
- A rider that can reduce your home deductible by $100 each year you are claim-free (up to a total benefit of $500).
- A basic policy may not meet the needs of some homeowners.
- Water backup coverage is not included in your basic policy.
- Unique items like musical instruments or collectibles may have coverage restrictions.
|J.D. Power (out of 1,000)||815|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||2.05|
Progressive: Best for Affordable Options
Progressive offers the most affordable property and liability coverage options to add in basic or comprehensive homeowners insurance.
Customers who desire to increase liability limits or other base coverages find the increase in premiums minor compared to the marketplace.
Special personal property coverage is available with a zero deductible option.
Bundling policies together can save you out-of-pocket costs at claim time with a single deductible option, no matter whether you live in Bixby or Choctaw.
We choose Progressive for the ability to build the policy specific to your needs.
Progressive Homeowners Insurance Discounts
Technology-savvy consumers in the south or north region of Oklahoma can reduce the annual premium by taking advantage of timely purchase options and online policy management.
- Quote in Advance: Quote your home insurance 10 days before expiration.
- Receive documents via email: Use your technology to save.
- New Purchase: If you are buying a home, you’ll get a discount even if the home construction isn’t new, but if it is, you’ll get an extra discount for that, too.
- Policy Bundling: Add a car or an umbrella insurance policy.
- Single Deductible: For extra savings, you’ll only have 1 deductible for a common claim event.
Progressive Homeowners Insurance Pros and Cons
- New home buyers get an extra discount.
- Technology options to buy insurance by phone, internet, or local agent.
- Affordable base and comprehensive policy endorsement options on a budgeted premium.
- A single deductible for a common claim event with a bundled policy.
- Internet policy management may not be attractive to some consumers.
- Only choosing the basic policy without options may leave a coverage gap.
- Consumers with past claim history may find pricing higher than average.
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||1.66|
USAA: Best for Military Families
USAA supports the military presence throughout the state of Oklahoma with multiple Air Force bases & Army installations.
Residents from McAlester to Enid should consider USAA for affordable home insurance.
Special coverage is optional for military personnel to waive a deductible and replace uniforms in a loss while active or on reserve duty
We recognize and include USAA as a top company for financial strength and longevity in the marketplace.
Oklahoma water losses can create catastrophic impacts for consumers, so the water leak detection credit is a welcome coverage credit from USAA.
Our top choice for military families is USAA with its unique and innovative loss prevention credits and competitive position in the marketplace.
USAA Homeowners Insurance Discounts
- Loyalty Savings: Stay with USAA for 3 or more years and receive credit.
- Claim-Free: 5 years with claim-free history and new customers receive a 15% discount.
- Bundle Savings: Combine auto and home insurance for up to 10% savings.
- Protective Device: A 5% discount for alarms or a monitored home security system.
- Credit Connected Home Devices: Water leak detection, smoke, and security monitoring gadgets offer savings.
- Multi-Product: Add a second policy for additional savings.
USAA Homeowners Insurance Pros and Cons
- Financial Strength and nationwide presence for families relocating.
- Identity theft coverage is standard with all policies.
- Special coverage for military uniforms and military equipment.
- Replacement cost is standard in the policy.
- A connection to the military community to be eligible for coverage.
- A local agent may not be available.
- Customer service may need improvement to meet consumer expectations.
|J.D. Power (out of 1,000)||882|
|A.M. Best - Financial Strength Rating||A++|
|NAIC Complaint Index||0.88|
Farmers Insurance: Best for Newer or Green-Certified Homes
Residents in Owasso or Tulsa will appreciate the affordable pricing of newer-built homes.
Our experts find homes 15 years and newer homes are eligible for additional discounts.
The Farmers base home insurance policy is also competitively priced for the market.
A significant local agent presence can service an account even after a consumer buys online.
Families prepared for storm season will find additional discounts for fortifying their homes against tornadoes and other storm-related incidents.
There is a conscious move to reward customers for green environment certifications.
The PropertyNest team choose Farmers for new homes and the forward movement of the Green initiative.
You can get more details on Farmers Insurance Company by reading our full review.
Farmers Insurance Discounts
- UL-Approved Roofing Material: Asphalt or fiberglass shingles approved by UL.
- New Home: Homes less than 14 years old receive a declining discount.
- Protective devices: Defined as fire alarms, security systems, and internal sprinklers.
- Home Safety: Fortify your windows, walls, roof, or foundation against natural disasters.
- Green Certifications: Get a certification from Energy Star, LEED, or EPA for discounts.
- Affinity Discount: For certain businesses, occupational groups, or professional associations.
- Multi-policy: Add policies for more savings.
- E-policy: Receive paperwork and policy via email.
- Good Payer: Positive payment history.
- Non-Smoker: Non-smokers receive a discount.
Farmers Insurance Pros and Cons
- Multiple service options to reach a service professional.
- Choose a local agent for ongoing service even if you purchase a policy online.
- Claims forgiveness for loyal customers can eliminate future premium surcharges.
- Financial Strength and longevity of the company.
- Discounts applied are not stacked creating a perception of larger savings than available.
- Replacement coverage for your personal property is not standard in the policy.
- Customer service may not meet customer expectations.
|J.D. Power (out of 1,000)||792|
|A.M. Best - Financial Strength Rating||A|
|NAIC Complaint Index||0.56|
Nationwide Insurance: Best for Basic Coverage
We choose Nationwide for the best basic policy because homeowners can also easily enhance it by adding coverage options unique to their household.
As a bonus, the basic homeowners' coverage includes ordinance or law coverage and Identity theft coverage for credit cards.
Roof replacement coverage is advantageous as the company replaces your roof with an upgraded roofing product to lower future loss risk and do it at the company’s expense after a covered loss occurs.
Nationwide offers an endorsement for earthquakes and an optional flood policy for Oklahoma residents.
Prospects in smaller communities in both northern and southern Oklahoma will appreciate the coverage basic of Nationwide.
Nationwide Insurance Discounts
- Multi-policy: Bundle your auto and home for discounts.
- Protective devices: Smoke detectors, fire alarms, or burglar alarms qualify.
- Claims-free: No claims bring you more savings.
- Home renovations: Credits for updating home plumbing, heating, cooling, or electrical systems.
- Gated Community: Communities protected by security guards, residence cards, or key-lock devices.
- Roof Rating: Newer roofs receive additional premium discounts.
- Home Purchase: Home purchased by customer within 12 months.
- Prior Insurance: Continuous past homeowners insurance with discounts based on years insured.
Nationwide Insurance Pros and Cons
- Better roof replacement that upgrades your roof when Nationwide replaces it due to a loss. Replacement cost is available for personal property.
- Earthquake coverage can be added as an option in Oklahoma.
- Nationwide offers an annual review of your home insurance policy.
- Smart home discount not available in Oklahoma.
- Online quoting is not available with Nationwide directly.
- Replacement cost for personal property is an option, not basic coverage.
|J.D. Power (out of 1,000)||816|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||0.88|
Amica Mutual: Best Insurance for Customer Service
Service is key at Amica as they continue to be ranked #1 in J.D. Powers Annual Service Surveys.
Online or with an agent, the quoting and service process exceeds client expectations.
Amica offers a basic and Platinum policy to homeowners across Oklahoma.
The coverage-enhanced Platinum homeowner insurance package includes additional coverages and increased limits at an affordable price.
We choose Amica for excellence in customer service as they continue to rank at the top of industry surveys every year.
Amica Mutual Insurance Discounts
- Multiline: Choose home and auto to save up to 30%.
- Claim-free: Just three years of claim-free history
- E-Discount: Manage your policy online.
- Autopay: Choose automatic deduction from your bank.
- Loyalty: The same insurer for two years, gets a discount.
Amica Mutual Insurance Pros and Cons
- History of world-class service gauged by industry and customer surveys.
- Networks to assist policyholders in finding reputable businesses for home repairs.
- Financial strength and AM Best rating.
- The basic policy does not include replacement costs for personal property.
- Wind and hail deductibles may be different from other property deductibles.
- May trade higher than average premiums for excellence in customer service.
|J.D. Power (out of 1,000)||849|
|A.M. Best - Financial Strength Rating||A+|
|NAIC Complaint Index||0.32|
|Company||PropertyNest Rating||J.D. Power (out of 1,000)||A.M Best Rating||BBB Rating|
What is the Average Cost of Homeowners Insurance in Oklahoma?
The average cost of homeowners insurance in Oklahoma is around $1,710 per year.
The range of costs can vary greatly depending on the size and value of your home, as well as what kind of coverage you choose.
You should always shop around for multiple quotes to find the best deal for your specific needs.
Additionally, it's wise to make sure you're getting discounts for any safety features in your home, like smoke detectors and burglar alarms.
Taking these steps can help ensure you get the most comprehensive coverage at an affordable price.
Be sure to check with our agents to learn more about Oklahoma homeowners insurance policies.
How to Lower Homeowner Insurance Premiums?
There are a few ways you can lower your homeowner insurance premiums.
One of the most common is increasing your deductible, which puts more of a financial responsibility on you in the event of an accident or disaster.
You can also increase the safety and security of your home with burglar alarms, smoke detectors, and other devices, which may qualify you for discounts on your policy.
Finally, bundling multiple policies such as homeowner's insurance, auto insurance, and more with the same company can mean savings on each of them. Our agents are here to help you find the best deals possible.
What Factors Influence the Cost of Homeowners Insurance in Oklahoma?
The zip code you live in is a significant factor.
Homestyle and Size
The second major factor of home insurance is the parameters specific to your home.
- Style of home, i.e., one or two-story
- Square footage
- Roof age and material
- Age of the home’s plumbing, electrical, and heating systems
- Exterior building material
Your insurance credit score is a significant part of underwriting any insurance policy.
The better your credit, the lower your premium.
If credit changes after becoming a customer, ask your insurance company to re-score the policy at renewal.
Each family has different experiences, so we add companies to our best list that offer minimum coverage limits and the option to choose high limits.
We chose companies that offer the broadest coverage choices to fit customers' budgets from Stillwater to Midwest City.
Our team of expert professionals only put our best companies on this list, including those offering premium savings for higher deductibles options positively impacting customers from Oklahoma City to Edmond and every community in between.
Past Claims History
In today’s complicated and global insurance environment, working with companies that won’t cancel you after one claim is essential. Our best companies are chosen for being efficient at claims service and retaining clients long term even with claims history.
What Type of Basic Coverage do You Need in a Homeowners’ Policy?
The dwelling coverage is the value of your home.
Ask yourself, if my home burned to the ground, how much would it cost to rebuild it again?
Remember, the cost to rebuild is different in Enid as opposed to Bartlesville.
There are various methods to determine your home value.
If your home has a fence, detached garage, gazebo, or other structure on the property, check to ensure the amount of coverage offered meets your needs.
Personal Property Coverage
Your personal property includes items like furniture, clothing, and kitchen items.
Premises or General Liability
A coverage to defend the homeowner in case someone files a lawsuit for bodily injury or property damage and says you are legally responsible.
Guest Medical Coverage
Coverage allows for payment to someone injured on your property who makes a claim against you.
Additional Living Expense
If your home accidentally burns down and rebuilding takes a long time, this coverage pays additional expenses you may incur while living away from your residence during the rebuilding process.
What Optional Coverages Should You Purchase in a Homeowners Policy?
Replacement Cost (RC)
Replacement cost coverage offers to replace your personal property as if it were new.
If you don’t add this endorsement, the policy will issue with Actual Cash Value (ACV).
That means your older property will be depreciated, and you will be paid less in a claim for personal property.
Most standard policies make RC an option rather than a part of a standard basic policy.
Extended Dwelling Replacement Cost
Additional money is paid beyond the dwelling value to rebuild if a total home loss occurs.
Additional Living Expense
If a claim creates additional expenses incurred while living away from your residence while home repairs are made, you can be reimbursed.
Most companies offer a range of 10% to 20% in coverage limits based on the dwelling coverage value.
Oklahoma is earthquake-sensitive, so you’ll want to ask about this coverage.
It is an optional endorsement or rider to your homeowners’ insurance and may carry a different deductible.
Personal Injury Liability
A coverage that defends the insured against a libel and slander lawsuit for communication on social media and online platforms.
Water and Sewer Backup
Optional coverage that homeowners in Sulphur or larger cities like Oklahoma City would need to protect themselves from a loss involving the backup of water or sewer through a drain.
The age of your home and past claim history may make this coverage unaffordable or restrictive.
Oklahoma residents should ask good questions about this type of coverage during the quote process.
Flood insurance is a separate policy; if you are in a flood zone, you’ll be required to carry it if you have a mortgage.
You can buy a policy directly from your insurance company or check the National Flood Insurance Program webpage for more details on flood insurance.
What Isn’t Covered in Your Homeowners' Policy?
Flood insurance is regulated by the National Insurance Flood Program. Flood coverage must be purchased as a separate policy but usually can be purchased through your home insurance company.
Personal Property Collections and Special or Unique Valuables
Items covered in a basic homeowner policy are common property like your furniture, clothes, kitchenware, home decor, food, and electronics, but if you have very specific or unique personal property items, you may find the coverage is inadequate in a basic policy.
According to experts in the industry, homeowner insurance in Oklahoma is higher than the national average.
PropertyNest recommends getting quotes from multiple companies before making a choice.
We recommend getting at least three online quotes for comparison.
Then, talk to a local agent about how they handle weather-related events and confirm your quotes are accurate before you decide to buy a home insurance policy.
Make sure you ask about all the discounts if you miss one on the quoting platform.
Remember, where you live, your home style, your insurance credit score, personal property value, coverage options, and limits chosen impact your final home insurance quote.
We thoroughly researched the state's top homeowners’ insurance companies and narrowed the list down to those that operated in Oklahoma.
We rated them on criteria that included ease of use, ratings, financial strength, customer, and affordability.
How We Chose the Best Insurance Companies in Oklahoma
Experts in the industry continuously evaluate the parameters most important to homeowners, like affordability, coverage options, excellence in customer service, current user-friendly technology tools, discounts that impact the bottom premium line, and top-of-the-line claims service.
We review our best list for affordability by the financial strength and liquid reserves, creating a blend of affordability without sacrificing the adequate coverage necessary today.
We scour and compare company industry websites to find a mix of companies that offer coverage variety for small towns like Broken Bow and large cities like Norman.
Our team at PropertyNest reviews customer experiences and industry customer service surveys and discusses service expectations with insurance professionals.
In today’s technology-driven world, our team evaluates the online and social media presence for communication channel excellence by testing websites, mobile apps, and online support options.
Not all discounts are created equal, so we recommend companies on our best list that offer at least three major discounts that can be retained after the first year as a customer.
Insurance can offer peace of mind, but when it comes time to pay a claim, we look to the company's financial strength and industry ratings like BBB and AM Best before we include them on our list.