Claire Smith Last Updated On: August 23, 2023

Affordable Homeowners Insurance in Oklahoma Is Right Around the Corner

Oklahomans are known for their can-do attitude, and that will serve them well when searching for great home insurance in the state of Oklahoma. Whether you’re buying a new home or looking for a new policy, you might already know this: home insurance in Oklahoma can be pricey, to put it nicely. 

But fear not, ConsumerCoverage is here! Keep reading for everything there is to know about home insurance in Oklahoma, and you’ll be more than equipped to find affordable home insurance without skimping on coverage.

Let’s dig into it.

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Table of Contents

What You Should Know About Home Insurance in Oklahoma

Oklahoma is a unique state when it comes to weather. It experiences four distinct seasons, but where you’re located in the Sooner State really determines how extreme the season will be. Summers are pretty hot and muggy no matter where you’re situated, but winters can be intense in the north and mild in the south of the state. 

Spring and autumn are where your home insurance policy will be tested the most. The state sees a ton of precipitation during these seasons, and the severe thunderstorms produce some of the most tornadoes per unit area in the world. Oklahoma falls smack dab in the middle of Tornado Alley, which can wreak havoc on even the toughest of homes. 

So, what does that mean for your insurance? You’re likely going to want to get flooding insurance, which is excluded from most home insurance policies. Flooding damage can add up faster than you can write the checks, so flooding insurance is key in a state that sees 55 thunderstorm days a year, on average. 

Earthquakes have also spiked in Oklahoma over the last decade or so, which means you might want to ensure your policy has earthquake coverage if you live in an area that’s prone to them. 

Home insurance is important, no matter where you live. But in Oklahoma, where Mother Nature’s moods run the gamut from drought to freezing rain, it’s especially important to have great home insurance. 

Keep reading, because we’ll explore everything from cost to coverage to help you snag the best protection for your biggest asset.

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Coverage Options for Homeowners Insurance in Oklahoma

No one enjoys thinking about insurance, especially when it’s often overcomplicated or muddled with confusing jargon. We want to simplify it for you, which is why we’re breaking down common coverage types and what they include.

Here are some of the coverage options you’ll see on standard home insurance policies:

  • Dwelling: If your home is damaged by a covered peril, this helps to repair or rebuild the structure of your home, like walls, roof, foundation, etc. 
  • Other Structures: Detached structures on your property are also covered from damage, like garages, sheds, and fences. 
  • Personal Property: Your belongings are protected from covered perils, including your clothing, electronics, furniture, appliances, jewelry, and more. Note, your insurance has maximum coverage values for these items, so if you have pricey items like antiques or artwork, you might want to take out extra coverage for those items
  • Personal Liability: If someone is injured on your property, you’re likely liable for their medical costs and you can be sued for damages. This coverage helps protect you in these cases. 
  • Loss of Use: If your home is damaged to the point where you can’t stay there, this coverage helps provide you lodging, food and transport while your home is being repaired. 

This is what you’ll find in a standard home insurance policy, but if you want even more protection, you’ve got options. Most insurance providers also offer riders, or endorsements, that you can pick and choose from to add to your policy.

Some common home insurance riders include:

  • Flooding Insurance: Flooding is usually excluded from coverage, so adding it on can save you a pretty penny should something happen.
  • Water Backup: If water backs up from a sewer or drain in your home, or if water overflows from a sump pump, this coverage would help pay for the damage. 
  • Scheduled Personal Property: If you’ve got collectibles, antiques, high value jewelry, furs, or high-end electronics, you might want to protect their higher value with scheduled personal property coverage. 
  • Green Home: If your home is damaged from a covered peril, this coverage lets you repair or rebuild with green materials. 
  • Identity Fraud: Identify fraud has never been more prevalent, and getting out of a fraud situation can be expensive. This coverage helps pay for legal fees and costs for mailing documents to help sort it out. 

These are just some options available to you, but every insurance provider is different. By adding on more coverage, you can bring yourself more peace of mind knowing that your home and your property is protected as much as it can be.

What Does Home Insurance Cover?

It helps to get a sense of what a typical home insurance policy covers, so you can decide for yourself whether or not your home needs more protection. So here are the perils that are typically covered:

  • Fire 
  • Lightning
  • Windstorm or hail
  • Explosion
  • Theft
  • Vandalism
  • Riots
  • Volcanic eruption
  • Falling objects
  • Weight of snow, ice or sleet
  • Damage from vehicles or aircraft
  • Accidental overflow of water, freezing, or cracking/burning/tearing from household appliances or heating, plumbing, air conditioning, or sprinkler systems 
  • Damage caused by short-circuiting of an electrical current

As you can see, the list is pretty comprehensive. You might notice flooding and earthquakes aren’t covered, but what else is excluded?

  • Power failure 
  • Pests and insects
  • Wear and tear
  • Intentional damage
  • Nuclear accidents
  • Negligence
  • War
  • Damage/theft in unoccupied homes

Keep in mind, not all insurance policies cover or exclude these perils. Your best bet is to read your policy in detail to make sure there are no surprises.  For example, neglect is a significant exclusion: maintaining your home is important to help keep your policy intact. If an adjuster finds that the damage was caused by neglect, rather than one heavy snowfall, for example, you could be on the hook for the entire repair bill.

You’ll want to take note of a key detail: home insurance policies work under an open peril or named peril basis. Open peril policies mean that anything that’s not specifically listed as excluded is covered, while named peril policies only cover perils that are actually listed (or named) in the policy itself.

Next, we’ll get to the important stuff: the average cost of home insurance in Oklahoma and how to save on it.

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How Much Is Home Insurance in Oklahoma?

Let’s rip the bandaid off quickly: the fact of the matter is that home insurance in Oklahoma is more expensive than the national average. To put it bluntly, Oklahoma is actually one of the most expensive states in the entire country for home insurance. As an Oklahoman, you might already know that or could have guessed given your location in Tornado Alley.  So here are the numbers: 
  • The average cost of home insurance in Oklahoma is $3,659 per year for $250,000 in dwelling coverage
  • The national average for the same coverage is $1,428
  • The city you live in affects the cost
    • The cheapest cities for home insurance in Oklahoma include Crowder, Depew, and Fairfax
    • The most expensive cities for home insurance include Oklahoma City, Newalla, and Jones
Now that we’ve broken the bad news, we have a silver lining for you: there are ways to find savings on home insurance, even if you live in cities with the most expensive insurance in Oklahoma. Keep reading for those tips.

How to Save on Home Insurance Quotes in Oklahoma

Saving on insurance is always nice, but it’s even sweeter in one of the country’s most expensive state’s for home insurance. So, we’ve rounded up our best tips and tricks to put more money back in your pocket, because you shouldn’t have to choose between great coverage and paying the rest of your bills.

Here’s how to find the cheapest home insurance in Oklahoma: 

  • Shop Around: We’ve said it before and we’ll say it again. Shopping around for coverage is so important. Each insurance provider weighs factors differently and has their own formula for calculating rates. By getting multiple quotes, you can save as much as 20% on your home insurance without doing anything else. 
  • Ask for Discounts: Insurance providers offer discounts, but it’s up to you to make sure you’re getting each one that you’re entitled to. Never be afraid to ask what discounts there are and which ones you might be eligible for. Discounts vary by provider, but some common ones you’ll see include:
    • Multi-policy bundle
    • New home
    • New client
    • Loyal client
    • Paperless billing
    • New roof
    • Eco-friendly appliances
    • And more
  • Review Your Coverage: Knowing what you’re paying for is important. If you’re paying more for that old trampoline that the kids haven’t looked at in years, maybe it’s time to get rid of it and reduce your premiums. And if you have more personal property coverage than you really need, maybe you can reduce your coverage and save. 
  • Increase Your Deductible: If you’ve never or rarely ever submitted a home insurance claim, you might want to increase your deductible. Should something happen, you’ll need to pay a higher amount for your claim to get paid, but it causes your monthly premiums to drop. 
  • Avoid Small Claims: While you’re thinking about claims, make sure you’re not submitting claims for minor issues that are best repaired by yourself. Submitting a claim typically causes your rates to increase, meaning you might end up paying more for that small claim in the long run. 
  • Maintain Your Home: Neglect and wear and tear can cause a claim to be denied, leaving you with a costly repair bill. Stay on top of repairs so that little problems don’t turn into big ones the next time a storm hits. 
  • Improve Your Credit Score: This might be more of a long-term fix, but working on your credit score can lower your insurance rates. A better score makes you more trustworthy in the eyes of a provider, so keep making small steps in the right direction and you’ll see your premiums lower. You can find out more right here
  • Improve Your Home’s Security: Anything that reduces an insurer’s risk will make them happier and lower your rates in turn. We’re talking alarms, smoke detectors, deadbolts, sprinkler systems, and more. 

You don’t need to drop your coverage and put your home at risk to save on rates. If you’ve tried these tips and tricks and still feel like you’re overpaying for home insurance, contact an insurance representative today to talk through options.

Shop for Homeowners Insurance In Oklahoma Now

Now that you know all there is to know about protecting your home (and your wallet) in the Sooner State, you’re ready for the fun part: shopping for home insurance quotes. Make sure you never take the first quote you’re offered, and instead do your homework to ensure you’re getting the best deal possible. 

Or, take a shortcut and get access to free quotes fast right here. We’ve got you covered!

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