Best cheap homeowners insurance in Tulsa

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Tulsa County has roughly 650,000 residents, and over half of the homes are owner-occupied. Tulsa’s growing metropolitan area offers an inexpensive living cost, which makes it an attractive place to live. However, harsh weather conditions are always a threat, and Oklahoma recently experienced a sharp rise in tornadoes.

It’s important to find reliable insurance that doesn’t break the bank to protect your home from natural disasters and other damaging events, Tulsa’s average cost for homeowners insurance is $3,765 per year for $250k liability, which is lower than the Oklahoma average of $4,067 but significantly higher than the national average of $1,477.

We researched and found several high-quality, affordable providers for Tulsa residents by focusing on home insurance carriers with solid reputations that offer coverage that fits the needs of most homeowners.

Best home insurance companies in Tulsa

For the cheapest home insurance, Tulsa has a range of options. Below are our picks for the top Tulsa home insurance providers. We included the average annual premiums for a $250k liability policy, but keep in mind these numbers are based on general profiles and will vary by individual. We also took note of J.D. Power’s customer satisfaction scores so you can make an informed decision that balances price and quality service.

Home Insurance Company Average Annual Premium for $250K Liability J.D. Power Score
Farmers $1,963 814/1,000
State Farm $2,038 829/1,000
American National $2,148 N/A
American Farmers & Ranchers Mutual $2,258 N/A
Allstate $2,341 829/1,000

Farmers

Farmers is a solid insurer with three different tiers of policies that fit the needs of most homeowners. You can choose between standard, enchanted or premiere policies. Standard offers minimum coverage at a reduced price, while premier includes high coverage limits and many features. Reduced rates are also available if you take advantage of discounts, like purchasing a home less than 14 years old, installing protective devices or even completing green certifications from Energy Star, LEED or the EPA.

State Farm

State Farm is a well-known insurer that offers home insurance policies through local agencies in Oklahoma. This provider is a good option for homeowners who want a policy from an established brand and also want to work with local agents who are knowledgeable about the area. State Farm has a few discounts available for homeowners, including bundling home and auto policies, installing safety devices and using specific roofing material for the home.

American National

American National might not be as widely known as some of the other insurers on the list, but this carrier shines when it comes to bundling discounts. They offer cashback if you use their home and auto insurance and file no claims for three consecutive years. You can also get a significant discount for bundling your home, auto and life insurance. This carrier also offers an ID theft protection coverage option to safeguard your identity.

American Farmers & Ranchers Mutual

American Farmers & Ranchers Mutual is headquartered in Oklahoma, so they know the state well. This provider offers valuable discounts to their home insurance policyholders, such as up to 20% off for certain roofs, up to 30% for newer homes and plumbing/electrical systems and up to 15% for safety systems installed in the home. American Farmers & Ranchers Mutual also offers auto, life and farm and ranch insurance, which will net you a multi-policy discount.

Allstate

Allstate is another big name in the industry, and their home insurance policies include a comprehensive set of coverages that will work for most Tulsa homeowners. The provider has a few interesting features available, such as Claim Rateguard®, which will keep your premium the same even if you file a claim. Other features include money back for staying claims-free and a deductible that decreases every year you don’t file a claim.

Tulsa home insurance recommendations

Depending on your mortgage terms, home insurance may or may not be required, but it’s a good idea to protect your home, as they are usually most people’s biggest investment. Here are a few of the coverage options that are smart to have in place for Tulsa homeowners. Keep in mind these coverage options are just examples; it’s a good idea to speak with a licensed insurance agent to determine what’s right for you.

  • Main dwelling and other structures: Tulsa has experienced more tornadoes than usual recently, so coverage for your primary dwelling and other structures like garages or fencing is essential. Tornados are commonly classified by home insurance as wind and hail damage and are typically covered in standard policies.
  • Personal property: Personal belongings inside your home can easily get damaged or destroyed in the event of a natural disaster. Coverage for valuables is not typically covered in a standard policy, but the additional coverage is a worthy investment if you keep expensive personal items in your home.
  • Personal Liability: If someone is injured on your property, then you could be held liable. Liability coverage should protect you from legal expenses if you have to go to court. Sometimes this coverage will also pay for injuries to others caused by your pets on your property, but not all liability policies cover this. Check with your provider to see if you need to purchase additional animal liability coverage.
  • Additional living expenses: If a damaging event such as a tornado makes your house uninhabitable, this coverage can pay for expenses incurred from having to relocate. Some examples of covered expenses include temporary lodging and restaurant bills.

Home insurance discounts in Tulsa

Home insurance premiums can be one of the more expensive line items in a monthly budget. To offset the cost, we recommend taking a close look at the discounts offered by your home insurer. These are a few of the more common discounts offered by home insurance providers.

  • Multi-policy: Many home insurers also sell other kinds of insurance, like auto and life. If you use one provider for multiple kinds of insurance, chances are you’ll be able to save on your premiums.
  • Alarms and safety devices: Smoke alarms and security systems increase the safety of your home, and many home insurers are willing to cut you a break on monthly premiums if you install them. Check to see what the eligibility requirements are for your provider.
  • Claims-free: If you go a year or more without filing a claim, then your home insurance provider might lower your premiums as a way of giving back. Some providers even offer cashback on premiums for homeowners who don’t file claims for extended periods.

Due to the increase in bad weather in Oklahoma, you may not have a choice about whether you file a claim, but looking into all the available discounts your preferred provider offers could help offset any unforeseen costs due to weather damage.

Frequently asked questions

What is the best home insurance company?

Tulsa residents have quite a few choices for homeowners insurance, but the best home insurance company varies by individual. If you want high coverage limits and coverage for every occasion, then the best provider may be different from the one you would choose if you’re just looking for barebones coverage at an affordable price. It’s best to shop around and compare quotes and coverage from different providers.

How much does home insurance in Tulsa cost?

Every home is different, so the premium you pay will vary. We’ve provided some average costs in this article, but if you are getting ready to purchase a policy, you may want to speak with a licensed insurance agent to find out exactly what it will cost based on your unique circumstances.

Methodology

Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage 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).

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

Rates are determined based on 2020 Quadrant Information Services data.