Best homeowners insurance in Oklahoma for 2023

USAA

Best for military-focused coverage

Rating: 3.7 stars out of 5

3.7 Bankrate Score

JD Power: 884/1,000 AM Best: A++

Average annual premium

^$ 2,377 for $250k dwelling coverage

USAA Review Get a personalized quote

Average annual premium

^$ 2,377 for $250k dwelling coverage

USAA Review Get a personalized quote

• Overview
• Pros and cons
• Average annual premium by city

Why USAA made our list: USAA only provides insurance and banking products to those who are current or retired members of the military and their families. If you fit that demographic, you may want to make USAA your first stop. The carrier is known for excellent customer service (although it doesn’t qualify for official ranking with J.D. Power), financial stability and insurance coverage that is tailored to the specific needs of military families. In addition to homeowners insurance, USAA also writes policies for renters, auto, personal property, condos and more. Additionally, USAA’s average premium is lower than the state’s average.

Who USAA may be good for: Those who need coverage that is military-focused, such as coverage for uniforms or discounts for those who are deployed or stationed on base.

Pros

• Lower-than-average premium
• High J.D. Power scores
• Superior AM Best financial strength

Cons

• Strict eligibility requirements
• May have fewer discounts than some competitors

Oklahoma city	USAA avg. annual premium for 250K dwelling
Edmond	$2,267
Enid	$2,306
Norman	$2,213
Oklahoma City	$2,224
Tulsa	$2,613

Allstate

Best for discount opportunities

Rating: 3.5 stars out of 5

3.5 Bankrate Score

JD Power: 815/1,000 AM Best: A+

Average annual premium

^$ 2,585 for $250k dwelling coverage

Allstate Review Get a personalized quote

Average annual premium

^$ 2,585 for $250k dwelling coverage

Allstate Review Get a personalized quote

• Overview
• Pros and cons
• Average annual premium by city

Why Allstate made our list: Allstate offers generous discounts that can help lower the cost of your premium. The company also features some interesting endorsements, or add-ons, that allow you to personalize your policy, such as a green improvement reimbursement and electronic data recovery. One thing worth considering, however, is that the company scored below average in two 2022 J.D. Power studies: the U.s. Home Insurance Study and the U.S. Property Claims Satisfaction Study.

Who Allstate may be good for: Those whose top priority is saving money may want to consider Allstate. It's also a good choice for those who wish to craft a policy that meets their own unique needs by adding on additional coverages.

Pros

• Lower-than-average premium
• Numerous coverage options
• Numerous discount opportunities

Cons

• Below-average J.D. Power overall home insurance satisfaction score
• Below-average J.D. Power claims satisfaction score

Oklahoma city	Allstate avg. annual premium for 250K dwelling
Edmond	$2,126
Enid	$2,396
Norman	$2,045
Oklahoma City	$2,537
Tulsa	$2,076

State Farm

Best for local agents

Rating: 3.2 stars out of 5

3.2 Bankrate Score

JD Power: 829/1,000 AM Best: A++

Average annual premium

^$ 4,340 for $250k dwelling coverage

State Farm Review Get a personalized quote

Average annual premium

^$ 4,340 for $250k dwelling coverage

State Farm Review Get a personalized quote

• Overview
• Pros and cons
• Average annual premium by city

Why State Farm made our list: State Farm is the largest insurer by market share in the U.S., and also boasts high financial strength and customer satisfaction scores. State Farm offers a broad range of customizable coverage options and, in addition to homeowners insurance, it offers coverage for condos, renters, cars, motorhomes, farms and more. It also has a user-friendly website, which makes it easy to get an online quote or do your business online. However, the average premium from State Farm is higher than the state average.

Who State Farm may be good for: For those who prefer to do business in person, State Farm boasts more than 100 offices across the state. It also features robust online tools and a multi-functional app, too, so those comfortable with technology can manage their accounts digitally.

Pros

• Local agents available
• Above-average J.D. Power customer satisfaction score
• Numerous insurance products available

Cons

• Higher-than-average premium
• Fewer discounts than some competitors

Oklahoma city	State Farm avg. annual premium for 250K dwelling
Edmond	$5,418
Enid	$4,796
Norman	$4,963
Oklahoma City	$5,104
Tulsa	$3,430

Farmers

Best for unique coverage options

Rating: 2.9 stars out of 5

2.9 Bankrate Score

JD Power: 792/1,000 AM Best: A

Average annual premium

^$ 2,769 for $250k dwelling coverage

Farmers Review Get a personalized quote

Average annual premium

^$ 2,769 for $250k dwelling coverage

Farmers Review Get a personalized quote

• Overview
• Pros and cons
• Average annual premium by city

Why Farmers Insurance made our list: Farmers offers policies for car, home, life, business, renters and condo insurance. Farmers also offers unique coverage options that are hard to find with other carriers, including the option for eco-rebuild coverage. If your home needs to be rebuilt due to a covered peril, eco-rebuild coverage pays to use environmentally friendly building materials. However, Farmers has one of the lowest customer satisfaction scores from J.D. Power, so it might not be a great fit for homeowners looking for high service ratings.

Who Farmers Insurance might be good for: Homeowners who prioritize having options to personalize their policy to their specific needs, such as allowing for eco-friendly rebuilding, over companies having the highest customer service ratings may find Farmers to be a good choice.

Pros

• Unique coverage options
• Local agents available
• Numerous insurance products offered

Cons

• Below-average J.D. Power customer satisfaction score
• Lower AM Best financial strength rating than other carriers on our list

Oklahoma city	Farmers avg. annual premium for 250K dwelling
Edmond	$3,394
Enid	$2,457
Norman	$3,448
Oklahoma City	$3,745
Tulsa	$2,381

Oklahoma Farm Bureau

Best for coverage focused on farms and ranches

JD Power: Not rated AM Best: B++

Average annual premium

^$ 3,281 for $250k dwelling coverage

Oklahoma Farm Bureau Review Get a personalized quote

Average annual premium

^$ 3,281 for $250k dwelling coverage

Oklahoma Farm Bureau Review Get a personalized quote

• Overview
• Pros and cons
• Average annual premium by city

Why Oklahoma Farm Bureau made our list: Oklahoma Farm Bureau Mutual is known for offering excellent insurance options for home, car, condo and recreational vehicles. For those working in the agricultural sector, Farmers also offers farm and ranch insurance. In addition to basic coverage, Oklahoma Farm Bureau offers amendments for residential equipment breakdown, other building insurance and an umbrella policy that provides additional protection if someone is injured on your property. However, as a regional insurer, it is not rated by J.D. Power. As such, you may want to research what current customers say about their experience to get a sense of the carrier’s service level.

Who Oklahoma Farm Bureau might be good for: If you are a farmer or rancher, it's worth getting a quote from Oklahoma Farm Bureau, since the company has extensive knowledge and understanding of these property types’ needs. Homeowners looking for a smaller regional company to work with may also want to ask for a quote.

Pros

• Farm and ranch coverage available
• Helpful endorsements offered
• Local agents available

Cons

• Lower AM Best financial strength rating than other carriers on our list
• Must be a Farm Bureau member to access insurance products

Oklahoma city	Oklahoma Farm Bureau avg. annual premium for 250K dwelling
Edmond	$3,443
Enid	$3,123
Norman	$3,364
Oklahoma City	$3,457
Tulsa	$3,193

• Oklahoma home insurance rates methodology

  Bankrate utilizes Quadrant Information Services to analyze 2023 current rates for 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: $150,000, $250,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
  • Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
  • Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
  • Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
  • 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 will differ.

• Bankrate Score methodology

  Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

  Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

  • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
  • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
  • Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

• What is the best homeowners insurance in Oklahoma?

  Each home is different and every homeowner has their own set of circumstances. As such, there is not one best home insurance company for everyone. To find the best Oklahoma homeowners insurance for you, you may want to get quotes from several companies, review their coverage options and then choose the best one for your specific needs.

• What is the cheapest homeowners insurance company in Oklahoma?

  There is no single insurer that is always the cheapest. Multiple factors, ranging from your home's location to your own credit rating, go into determining your premium cost, so you are unlikely to pay the same as your neighbor, even if your homes are identical. Keep in mind that even if you are looking for cheap home insurance, you should review more than just price to help ensure you find a company that fits all your needs.

• How do I get homeowners insurance in Oklahoma?

  You’ll start by comparing homeowners insurance quotes. You can often do this online or by calling a company, or you can visit a local agency. You’ll need to provide some information about yourself, like your name and date of birth (and possibly your Social Security number), as well as information about your home, like your address, the year your home was built, how old the roof is, and information about any custom or unique features. Once you’ve chosen a quote that you’d like to purchase, a company representative will walk you through the next steps.

• Do I need flood insurance in Oklahoma?

  If you are in a flood zone and have a mortgage, you’ll likely be required to have a flood insurance policy by your lender. Even if you own your home outright, you might still want to consider flood insurance, depending on where you live in the state. Talking with a licensed agent could help you determine your flood risk.

• Am I required to have homeowners insurance in Oklahoma?

  The law in Oklahoma does not require homeowners to obtain homeowners insurance. However, most mortgage lenders require a policy to ensure their investment is protected. So if you have a mortgage on your home, you will likely have to obtain homeowners insurance. Once your loan is paid off, it’s up to you to keep or cancel your policy.