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Best cheap homeowners insurance in Tulsa

Updated Apr 26, 2024
USAA, Allstate and Travelers offer some of the best homeowners insurance in Tulsa, according to Bankrate’s research.
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The best home insurance companies in Tulsa

Tulsa, Oklahoma sees more than its fair share of tornadoes compared to other areas of the country. About three tornadoes per year occur in Tulsa — an unsettling statistic for most homeowners. A great home insurance policy can help provide both peace of mind and valuable financial protection when you need it most. Bankrate’s insurance editorial team looked at more than just price when determining our picks for the best home insurance companies in Tulsa. Our team considered average rates, customer satisfaction scores, financial strength ratings, policy add-ons and other metrics. Based on our analysis, USAA, Allstate, Travelers, Farmers and Oklahoma Farm Bureau write some of the best home insurance in Tulsa.

Best for military-focused coverage

Bankrate Score

Rating: 4.7 stars out of 5
4.7

Avg. annual premium

$3,252

$300K dwelling coverage

JD Power

881/1,000

USAA offers homeowners insurance in Tulsa to current and former members of the military and their qualifying immediate family members. For those who meet the eligibility requirements, homeowners policies through USAA offer specialized coverage options. Policyholders who are active-duty and reserve military members can insure military equipment, uniforms and gear at no deductible. USAA home insurance policies are also customizable, with the option to add endorsements like water backup and extended dwelling replacement coverage. Notably, replacement cost coverage is pre-included in USAA’s policies. USAA consistently earns high scores in J.D. Power customer satisfaction studies and, for the third year running, tied for the Best Home Insurance Company Overall in our Bankrate Awards. However, its limited customer service hours may be inconvenient to some homeowners, as the claims center only takes calls from Monday to Friday.

Scores and Ratings
Bankrate Score 4.7
J.D. Power 881/1,000
AM Best score A++
Read full review
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Best for discounts

Bankrate Score

Rating: 4.2 stars out of 5
4.2

Avg. annual premium

$2,968

$300K dwelling coverage

JD Power

809/1,000

Allstate is a big name in the insurance industry, and its home insurance policies include a comprehensive set of coverages that could work for many Tulsa homeowners. Allstate offers some unique policy options 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. Allstate offers customers multiple ways to save through an early signing, protective device, homebuyer and other discounts. That said, Allstate did score below average in J.D. Power’s 2023 U.S. Home Insurance Study and 2024 U.S. Property Claims Satisfaction Study. It also has an above-average complaint index with the National Association of Insurance Commissioners for its home insurance product.

Scores and Ratings
Bankrate Score 4.2
J.D. Power 809/1,000
AM Best score A+
Read full review
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Best for add-on coverage

Bankrate Score

Rating: 4.1 stars out of 5
4.1

Avg. annual premium

--

$300K dwelling coverage

Not available

JD Power

790/1,000

For homeowners looking for a more custom-fit policy, Travelers could be the right choice. With Travelers, it is possible to add several different endorsements, such as water backup, identity fraud and replacement cost coverage for your personal belongings. Travelers could also be a good choice for Tulsa homeowners with expensive personal property, as Travelers advertises three different endorsements for high-value items: special personal property coverage, jewelry and valuable items coverage and a personal articles floater. However, Travelers home coverage scored poorly in J.D. Power studies, which could be a red flag.

Scores and Ratings
Bankrate Score 4.1
J.D. Power 790/1,000
AM Best score A++
Read full review
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Best for pre-packaged coverage options

Bankrate Score

Rating: 3.6 stars out of 5
3.6

Avg. annual premium

$4,694

$300K dwelling coverage

JD Power

800/1,000

Farmers is a solid insurer with three different tiers of policies that fit the needs of most homeowners. You can choose between standard, enhanced or premier coverage tiers. Standard offers minimal 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. But, if and when a tornado hits and you find yourself needing to file a claim, it’s possible that it could be a frustrating experience — especially if you elect to use their online claims system. J.D. Power’s 2023 U.S. Insurance Digital Experience Study indicated below-average customer satisfaction in Farmers’ digital service but above-average satisfaction for digital shopping.

Scores and Ratings
Bankrate Score 3.6
J.D. Power 800/1,000
AM Best score A
Read full review
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Best for local agents

Bankrate Score

Rating: 0 stars out of 5
0

Avg. annual premium

$3,539

$300K dwelling coverage

A national insurer is not a good fit for every homeowner. Those looking to work with a local company may be interested in a quote from Oklahoma Farm Bureau. The insurer has two different Tulsa office locations. Oklahoma Farm Bureau could also be a good fit for homeowners with farms or ranches, as the company also writes special coverage for this. Working with a local agent can be a big perk for some homeowners, as local agents could offer deeper insight into the specific home insurance needs of your area and act as a “go-to guy” for other insurance products.

Scores and Ratings
Bankrate Score Not rated
AM Best score B++
Read full review
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Bankrate's trusted insurance industry expertise

Read our full methodology

At Bankrate, we refresh our average home insurance rates every month. That way, our readers know the premiums on our page are as up-to-date as possible.

46

years of industry experience

122

carriers reviewed

34.5K

ZIP codes examined

1.2M

quotes analyzed

The cheapest home insurance companies in Tulsa

Finding cheap home insurance in Tulsa, Oklahoma can be difficult. Nestled in the heart of tornado alley, Tusla homes can get hit with wind damage, which can make homes in T-Town riskier to insure. And, with home insurance, higher risk typically translates to higher premiums. On average, home insurance in Tulsa, OK costs $3,866 per year. For homeowners looking to spend less on their home insurance coverage, Bankrate found the cheapest home insurance in Tulsa for a variety of different coverage limits. But remember: a higher dwelling coverage limit will cost more than a lower one, as the insurance company is taking on more risk.

Caret Down
Company Average monthly premium* Average annual premium*
$109
$1,312
American National
$145
$1,741
American Farmers & Ranchers Mutual
$235
$2,816
Armed Forces
$243
$2,915
*Average rates for policies with $300K in dwelling coverage
Company Average monthly premium* Average annual premium*
$119
$1,312
American National
$161
$1,741
American Farmers & Ranchers Mutual
$276
$2,816
Armed Forces
$271
$2,915
Company Average monthly premium* Average annual premium*
$137
$1,648
American National
$199
$2,390
$317
$3,806
Armed Forces
$319
$3,823
Company Average monthly premium* Average annual premium*
$187
$2,247
American National
$323
$3,877
Armed Forces
$440
$5,274
$483
$5,796

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This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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How much is home insurance in Tulsa, Oklahoma?

Oklahoma consistently ranks as one of the most expensive states for home insurance. The national average cost of home insurance is $2,153 per year, while Oklahoma homeowners pay $4,493. In Tulsa, homeowners pay an average of $3,866 per year. Although these numbers may seem high, keep in mind that they are just averages, as home insurance is an individual product. Different rating factors like credit, how old your home is and the deductible you choose can all influence what you pay for home insurance.

Tulsa rates by credit tier

Your credit-based insurance score plays a part in setting your home insurance cost in most states, Oklahoma among them. Homeowners with bad credit statistically file more insurance claims, so insurers charge them higher premiums to account for the extra risk. In Tulsa, a homeowner with poor credit pays an average of 254 percent more than a homeowner with excellent credit. Similarly, insurers tend to reward homeowners with good or excellent credit with more favorable rates.

Company Poor Credit Average Credit Good Credit Excellent Credit
$3,059
$1,518
$1,312
$956
American National
$8,345
$2,461
$1,741
$888
American Farmers & Ranchers Mutual
$5,403
$2,947
$2,816
$2,554
Armed Forces
$4,114
$3,050
$2,915
$2,761
$4,773
$3,195
$2,968
$2,584

Tulsa rates by home age

Home age also factors into the cost of your policy. A new build could be cheaper to insure than an older home made with harder-to-source materials. Think about it from an insurer’s standpoint: If your home is completely destroyed in a covered claim, finding your home’s original materials could cost more to rebuild, which you could see reflected in your premium.

Company 1959 1982 1992 2010 2020
$1,498
$1,498
$1,498
$1,461
$1,152
American National
$2,124
$2,124
$2,124
$1,951
$1,624
American Farmers & Ranchers Mutual
$3,116
$3,182
$3,182
$3,151
$2,481
Armed Forces
$4,357
$4,205
$4,157
$3,885
$2,254
$2,748
$2,869
$2,969
$3,354
$2,436

Tulsa rates by deductible amount

To help curb the higher Tulsa home insurance costs, consider a higher-deductible home insurance policy. Your deductible is the amount of money you are financially responsible for in the event you file a claim, and it typically ranges from a couple hundred dollars to a couple thousand. Choosing a deductible at the higher end of the spectrum could yield a cheaper rate because you assume greater financial responsibility.

Company $1,500 Deductible $2,000 Deductible $5,000 Deductible
$1,243
$1,228
$1,095
American National
$1,735
$1,711
$1,493
American Farmers & Ranchers Mutual
$2,816
$2,435
$2,142
Armed Forces
$2,915
$2,462
$1,978
$2,757
$2,574
$1,894

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze May 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $300,000, $350,000, $450,000, $750,000
  • Coverage B, Other Structures: $30,000
  • Coverage C, Personal Property: $150,000
  • Coverage D, Loss of Use: $60,000
  • Coverage E, Liability: $500,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000, $1,500, $2,000 or $5,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply.

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Credit: Rates were calculated based on the following insurance credit tiers assigned to our homeowners: “poor, average, good (base) and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining home insurance rates: California, Maryland, Massachusetts.

Year built: Rates were calculated based on the following years built for homes and assigned to our homeowners: 1959, 1982, 1992, 2010, 2015 (base) and 2020.

Written by
Natalie Todoroff
Writer, Insurance

Natalie Todoroff is an insurance writer for Bankrate, prior to which she wrote for a popular insurance comparison shopping app. She has a Bachelor of Arts in English and has written over 800 articles about insurance throughout her career.

Edited by Editor, Insurance