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The 3 Best Homeowners Insurance Companies in Oklahoma
Oklahoma has the fourth-highest homeowners insurance premiums in the country, according to the Insurance Information Institute, at $1,875 a year. In May 2013, a deadly tornado outbreak destroyed lives and homes in the Oklahoma City region. Oklahoma homeowners insurance costs skyrocketed as a result, and they continue to rise every year.
To find an Oklahoma homeowners insurance provider that gives you the optimum level of protection at a price suitable for your budget, shop around and compare companies and policies. We’ve outlined our top picks for the Sooner State and included an online quote tool so you can easily find accurate estimates for policies in your area.
Our Top Picks for the Best Homeowners Insurance in Oklahoma
State Farm
State Farm is the largest and most popular choice for homeowners insurance in Oklahoma, owning over 13 percent of the state’s property insurance market.
State Farm offers Oklahoma residents flexible policy options, special features and outstanding claims management services, all at an affordable price.
The company provides basic coverage for nearly every type of dwelling, including single-family homes, condos, mobile homes, rentals, and farms or ranches. State Farm also ensures that you’re receiving the best possible price on this policy with its Discount Double Check feature, which automatically applies any eligible premium price break to your policy.
Besides your basic policy, you also have the option to include additional protections, such as losses incurred from earthquakes or identity theft.
In the event that you experience a loss and need to file a claim, you can remain confident knowing that State Farm has one of the largest claims networks in the world. Reporting a claim can be done either online, over the phone via State Farm’s 24-hour claims hotline, in person with a local agent, or by using the Pocket Agent mobile app.
The company also offers tools that can assist with the claims process: Its HomeIndex digital inventory tool, for example, allows you to keep a running catalog of your covered possessions and their worth, eliminating the guesswork when it comes time to file a claim. State Farm also offers a Simple Insights feature on its website that gives you advice and tips about maintaining your home, car, and protection for your family.
Liberty Mutual
When it comes to savings, Liberty Mutual is a clear choice for Oklahoma residents.
The company offers multiple discount opportunities, including those for bundling policies, installing security devices, obtaining a quote prior to your current policy expiration date, and opting for 100 percent replacement cost coverage.
If you like the idea of merging technology with your homeowners insurance, Liberty Mutual lets you get a policy quote via your Alexa device, which means your phone doesn’t have to be tied up during the quote process.
Liberty Mutual has an extensive affiliate network of over 14,000 partnered employers, organizations, and alumni associations throughout the nation and offers additional savings and benefits to any policyholders who are group members. Liberty Mutual also offers a “MasterThis” program on its website that helps empower you to build your skills as a homeowner. Lessons that are available include increasing your home value, tackling home repairs, and how to store and preserve your collectibles.
While many national homeowners insurance providers offer 24-hour phone claims support, Liberty Mutual takes it a step further by offering its customers 24-hour emergency repair services. The company can set you up with a vetted local contractor to carry out any repairs necessary to restore your home back to safety via its Contractor Network Referral Program. For your convenience, this service is available 365 days a year so you can always have peace of mind.
Farmers Insurance
Backed by an A rating from A.M. Best, Farmers Insurance offers reliable homeowners insurance at an affordable price for Oklahoma residents.
In business since 1928, Farmers Insurance has customizable policies with add-on coverage options such as Eco-Rebuild coverage, which offsets extra costs associated with rebuilding or renovating your home using certified green contents and materials. Farmers also offers programs such as its Contents Replacement Cost package, which replaces destroyed or damaged personal items with new versions following a covered loss. But you don’t have to get a one-size-fits-all policy. One of the advantages of having Farmers Insurance is that you can tailor the policy to your budget and your specific needs.
Farmers also offers multiple discount opportunities, such as those for nonsmokers and for policyholders who have made green efficiency renovations or recently replaced their roof.
Filing a claim with Farmers is a hassle-free process. The company offers phone services, an online form, and a handy Farmers Mobile App. Once filed, claims are assigned to specialists and can easily be tracked until their resolution using the online Claims Tracker tool. Farmers’ many commercial partnerships with contractor services and Oklahoma hotels can offer convenience and lower rates on repairs and temporary lodging should you require these services after a loss.
How much is homeowners insurance in Oklahoma?
Oklahoma’s average insurance premium is $1,875 is $683 higher than the national average. The state’s vulnerability to tornadoes and other natural disasters means insurance premiums will probably continue to rise. See the rate factors below.
Oklahoma Rate Factors
Due to the slew of natural disasters that have hit Oklahoma, it’s no surprise that it has high insurance premiums. National Weather Service data on tornadoes in the state show that Oklahoma has had nearly 4,000 tornadoes since 1950. In addition, the state is vulnerable to floods, hail and other damaging weather events.
For more information on home insurance, check out:
Don’t own your OK home? We also offer information on renters insurance.
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Methodology
The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.
For every review, our editorial team:
- Identifies five measurable aspects to compare across each brand
- Determines the rating criteria for each aspect score
- Averages the five aspect scores to produce a single SimpleScore
Here’s a breakdown of the five aspect scores and their rating criteria for our reviews on home insurance.
Why do some brands have different SimpleScores on different pages?
To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.
However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare State Farm’s home insurance according to our criteria for the best home insurance, it scores a 3.8 out of 5. But when we compare State Farm according to the criteria for the best auto insurance, it scores higher, since the features the company offers can vary by the type of insurance.
Discounts
We looked at the number of discounts each company offers – more discounts mean a higher score.
Coverage Options
We awarded higher scores to the companies that offer more coverage options.
Support
We awarded higher scores to companies with the most channels for customer support.
Customer Satisfaction
We leveraged the J.D. Power 2019 Home Insurance Satisfaction Study℠ to see how customers rated their experience with each company. (If a company wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)
Accessibility
We looked at the level of accessibility of each company – the more resources they have the higher their score
