With high costs due to the threat of tornadoes, earthquakes, hail and storms, it can be challenging to find affordable options for home insurance in Oklahoma. In fact, homeowners insurance is more expensive in Oklahoma than in any other state, according to NerdWallet’s rate analysis. When shopping for insurance, you’ll want to balance cost with coverage to make sure your policy offers the financial protection you need.

NerdWallet analyzed rates from insurers across the state to determine the best homeowners insurance in Oklahoma.

Note: Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state.

The best homeowners insurance in Oklahoma

If you’re looking to buy homeowners insurance from a well-rated national brand, consider one of these insurers from NerdWallet’s list of the Best Homeowners Insurance Companies.

More about the best home insurance companies in Oklahoma

See more details about each company to help you decide which one is best for you.

As America’s largest insurer, State Farm stands out for its long list of coverage options. Its policies generally include extra dwelling coverage in case it costs more than expected to rebuild your home after a covered disaster. You may also be able to add coverage for things like identity theft, damage from backed-up drains and personal injury liability.

State Farm offers a free Ting device as a perk for home insurance policyholders. Ting is a smart plug that monitors your home’s electrical network to help prevent fires.

Learn more with our State Farm homeowners insurance review.

Chubb generally serves affluent policyholders with high-value homes, offering lofty coverage limits and plenty of perks. For example, the company covers water damage from backed-up sewers and drains, and pays to bring your home up to the latest building codes during reconstruction after a claim. (Many insurers charge more for these types of coverage.)

Oklahoma homeowners can also sign up for free Wildfire Defense Services. These services include personalized recommendations for protecting your home and deployment of firefighters to your house if a wildfire is approaching.

Learn more with our Chubb homeowners insurance review.

Homeowners policies from Farmers may include two valuable types of insurance: extended dwelling and replacement cost coverage. Extended dwelling coverage gives you extra insurance for the structure of your house, while replacement cost coverage offers higher reimbursement for stolen or destroyed belongings.

Some Farmers policies also come with perks that can save you money. For example, the declining deductibles feature lets you take $50 off your home insurance deductible each year you have a Farmers home insurance policy. (A deductible is the amount of a claim you’re responsible for.)

Learn more with our Farmers homeowners insurance review.

The Hanover gives homeowners lots of choices. You can opt for an auto/home package, a policy designed for high-value homes or a standalone policy for a standard house. You can further customize your policy with a range of options for things like guaranteed replacement cost coverage, which will pay as much as it takes to rebuild your home after a disaster.

The Hanover sells policies exclusively through local independent agents. That means online quotes aren’t available, but you can get personal service to help you choose the right coverage.

Learn more with our Hanover homeowners insurance review.

USAA sells homeowners insurance to veterans, active military and their families. If you fall into one of those groups, you might want to look into USAA’s offerings. The company’s homeowners policies include some unique perks such as deductible-free coverage for military uniforms and coverage for identity theft.

Homeowners in Oklahoma can take part in the company’s Connected Home program, which gives you a discount on your policy if you buy and install approved smart home devices. These include water leak sensors, cameras and thermostats.

Learn more in our USAA homeowners insurance review.

How much does homeowners insurance cost in Oklahoma?

The average annual cost of home insurance in Oklahoma is $4,365. That’s 140% more than the national average of $1,820, making it the most expensive state in the U.S. for homeowners insurance, according to NerdWallet’s rate analysis.

In most U.S. states, including Oklahoma, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.

In Oklahoma, those with poor credit pay an average of $9,510 per year for homeowners insurance, according to NerdWallet’s rate analysis. That's more than double what with good credit pay.

» MORE: How your credit score affects home insurance rates

Average cost of homeowners insurance in Oklahoma by city

How much you pay for home insurance in Oklahoma will depend on your ZIP code. For example, the average cost of homeowners insurance in Oklahoma City is $4,950 a year, while homeowners in Tulsa pay an average of $3,935 per year.

» MORE: What’s the average cost of homeowners insurance?

The cheapest home insurance in Oklahoma

Here are the insurers we found with average annual rates below the Oklahoma average of $4,365.

» MORE: The cheapest homeowners insurance

What to know about Oklahoma homeowners insurance

You’re likely familiar with some dangers facing you as an Oklahoma homeowner in Tornado Alley. However, you’ll also need to consider whether you have adequate coverage for flooding, severe storms, hail and earthquakes.

Tornadoes

Oklahoma is one of the most tornado-prone states in the country, and these destructive storms can cause major damage to your home. Fortunately, a standard homeowners policy covers damage from wind, including tornadoes.

It’s still important to review your coverage details carefully. Some policies may have a separate deductible for wind damage.

For example, your policy may have a $1,000 deductible for most claims and a 1% deductible for wind claims. So if your house has $250,000 worth of dwelling coverage, you’d have to pay for the first $2,500 of wind damage yourself. Choosing a higher deductible for wind damage can reduce your overall premium costs, but you’ll want to be sure you can afford it if disaster strikes.

Flooding

Flooding is a concern for homeowners across the country, and Oklahoma homeowners are no exception. Even if you don’t live in a flood plain, heavy rains can cause flash flooding. Since most standard homeowners insurance policies don’t cover flood damage, you may want to buy separate flood insurance.

To find out whether you’re at risk, put your address into the Federal Emergency Management Agency's flood maps or visit RiskFactor.com, a website from the nonprofit First Street Foundation. Even if your home has a medium or low risk, you may want flood insurance for extra peace of mind.

Keep in mind that while you can purchase flood coverage anytime, there is typically a 30-day waiting period before the policy takes effect.

» MORE: Why you might want flood insurance — even if it’s not required

Hail

Beyond damage from tornadoes and flooding, Oklahoma homeowners may also face hail damage from storms. Hail is a common risk in Oklahoma, with over half of properties experiencing hail damage in 2017

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While your homeowners insurance will likely cover hail damage, there may be restrictions. For example, the policy may pay only for damage that affects how your home functions, not for cosmetic damage. You may also have a higher deductible for hail claims. When in doubt, check your policy or contact your agent for exact coverage details.

Earthquakes

While earthquakes are less common in Oklahoma than other parts of the country, they can still pose a risk to homeowners. In fact, there’s been a surge in earthquakes in the Sooner State since 2009, largely due to wastewater disposal practices in the oil and gas industry

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Earthquakes can cause significant damage to homes and property, including foundation damage, cracked walls or roofs and damaged HVAC systems. A standard homeowners policy won’t cover any earthquake damage. As a result, it's a good idea for homeowners in Oklahoma to consider buying earthquake insurance.

» MORE: Home insurance calculator: Estimate your rate

Oklahoma insurance department

The Oklahoma Insurance Department oversees the state’s insurance industry and provides consumer resources such as homeowners insurance rate comparisons and shopping tips. The Oklahoma Insurance Department is also where you can file a complaint against your insurance company online, by mail or by fax. If you have insurance questions, you can call the agency’s Consumer Assistance Division at 800-522-0071 or 405-521-2828.