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Oklahoma Insurance Department - Home

A helpful guide when selecting homeowners insurance, including local rates and common questions. Click here to see/download the print version of this brochure.

Understanding Rates:

Insurance companies rate your home based on factors such as replacement costs, the city and/or county where you live, your claims history, your credit history, construction materials and local fire protection.

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How to Find the Best Rate:

Shop for the company and agent that offer the best service for the best price. Compare prices. Different companies charge different rates. Get quotes from several companies before you buy. Make sure you understand what coverages and perils are included and that you’re comparing equivalent policies.

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Questions to Ask Your Agent:

• Am I in your lowest-priced company or tier? If not, why? • How can I get a better rate? • What perils or coverage is excluded or limited in the policy?

• May I add the peril or coverage back into the policy? 

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Agents and Company Representatives:

Some agents may represent several companies, while some agents represent only a single company or company group. Some companies market their policies directly to consumers without using agents. To check as many companies’ rates as possible, ask to see all the rates of all the companies the agent or company employee represents.

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What to Know Before You Buy a Policy:

• In addition to costs, you should consider other important factors, such as the company’s financial strengths and customer service. • Never cancel your old policy until your new policy is effective. A policy becomes effective only when the insurer or its local agent binds coverage.

• Make certain you answer all questions on the application truthfully. Wrong information could cause an incorrect price quote or a denial or cancellation of coverage.

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Ways to Save Money:

You can save money on your premiums by increasing your policy deductibles. However, you’ll have to pay more out of pocket if you have a claim. If you are offered a policy with a large deductible, consider whether you can afford to pay the amount for each claim you file. You may qualify for discounts on your rate but remember not all companies offer the same discounts.


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Discounts that may be available include but are not limited to:

• Impact-resistant (hail-resistant) roofs • Dead-bolt locks or certain other security measures • Approved electronic burglar alarms • Smoke alarms, sprinkler systems or other fire prevention systems • Age of your home • Heating, electrical or plumbing updates • Companion policies such as your auto policy with same company • Senior citizens • Personal property identification marking • Credit score • Continued policy renewals • Claims free discount 

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Market Assistance Program:

If you are having problems finding homeowners insurance, you should contact the Oklahoma Market Assistance Program (OK-MAP). OK-MAP can connect you with insurance companies that may be willing to cover your home. For more information, call (405) 842-9883. Web address: www.mapsprogram.com.
 

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Risks Not Covered:

Reading the Exclusionary Provisions is very important. Homeowners coverage does not include floods, earthquakes, back up of sewer and water, home businesses, home daycare, identity theft, nuclear accidents or war. Flood coverage can be purchased separately through the National Flood Insurance Program (NFIP). Ask your agent or carrier for more information, or you may contact the NFIP at:1-888-CALL-FLOOD or www.floodsmart.gov.
 

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Claims:

A policyholder can contact the insurance company and ask about filing a claim or how to file a claim. Companies cannot increase the premium, cancel a policy, or refuse to issue or renew a policy solely because a policyholder inquired about making a claim or requested information about making a claim. For policies in effect for more than 45 days, companies may not cancel, refuse to renew, or increase the premium solely because a first claim is filed against the policy. 

An insurance policy is intended to protect you from certain claims; however, it is not intended to offset minor claims or routine maintenance issues. Insurers may impose a surcharge or additional premium if you file multiple claims, but companies are prohibited from surcharging for weather-related claims.
 

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Cancellation and Non-Renewal:

There is a big difference between an insurance company canceling a policy and choosing not to renew it. Insurance companies can cancel a policy for the following reasons: • You fail to pay the premium. • You have committed fraud or made serious misrepresentations on your application. • You willfully act in a way that increases any hazard the policy insures against. • You violate any local fire, health, safety, building, or construction regulation or ordinance that increases hazards. • A change in the risk occurs which substantially increases any hazard insured against. • The Commissioner determines that the continuation of the policy would place the insurer in violation of Oklahoma insurance laws. • The insured party is convicted of a crime having as one of its necessary elements an act increasing any hazard the policy insures against. Non-renewal is a different matter. Either you or your insurance company can decide not to renew the policy when it expires. Companies shall give policyholders at least ten days notice prior to the date of cancellation and 30 days notice prior to the date of non-renewal. If you think the reason is unfair or want a further explanation, call the insurance company’s consumer affairs division. If you don’t get a satisfactory explanation, call the Oklahoma Insurance Department at 800-522-0071. 

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Inexpensive Homeowner Add-ons:

A helpful guide when selecting homeowners insurance, including local rates and common questions.
 

Back Up of Sewer and Water Coverage: This coverage is excluded from most homeowners policies but can be purchased as a rider. Coverage is provided for

direct physical loss not caused by negligence of the insured caused by water or sewer that backs up through sewers or drains not caused by flood.

Cost: $5.98 to $111 for $5,000 coverage.

Child Care Liability Coverage: This coverage provides personal liability for bodily injury and property damage arising out of a home day care service.

Cost: $42 to $323 for $100,000 coverage. $78 to $574 for $500,000 coverage.

Credit Card, Fund Transfer card, Forgery and Counterfeit Money (Increased Limits): This coverage provides increased limits for the legal obligation of an insured to pay because of the theft or unauthorized use of credit cards or electronic funds transfer cards, loss to an insured caused by forgery or alternation of their check and loss through acceptance of counterfeit money.

Cost: $2 to $10 for $5,000 coverage.

Earthquake Coverage: This coverage is excluded in the policy but can often be purchased as a rider by endorsement.

Cost: $0.06 to $0.95 per $1,000 of the dwelling limit.

Identity Fraud Expense Coverage: This coverage is available to pay for expenses incurred as a result of identity fraud. Such expenses include the costs for notarizing fraud affidavits; certified mail sent to law enforcement, financial institutions and credit agencies; lost income resulting from time off work to meet with law enforcement or credit agencies; loan application fees for reapplying for a loan; and reasonable attorney fees incurred to defend lawsuits brought against the insured and to remove criminal or civil judgments.

Cost: $12 to $45 for $15,000 to $25,000 coverage.

Increased Medical Payments to Others: This coverage, also known as first aide coverage, provides for increased limits for bodily injury to others. It does not cover the insured or person residing in the household.

Cost: $1 to $29 for $2,000 coverage. $2 to $83 for $5,000 coverage.

Increased Personal Liability Limits: This coverage provides for increased liability limits for bodily injury or property damages caused by an insured.

Cost: $9 to $96 for $300,000 coverage. $13 to $140 for $500,000 coverage.

Personal Injury Coverage: This coverage provides liability coverage for slander or libel, generally excluded in regular policy.

Cost: $4 to $50 for $100,000 to $300,000 coverage.

Personal Property Replacement Cost: This coverage provides payment for losses to personal property at replacement cost rather than actual cash value.  

Cost: 2% to 25% of base premium.

Refrigerated Property Coverage: This coverage is available for property stored in freezers or refrigerators.

Cost: $3.06 to $12 for $500 coverage.

Special Personal Property Coverage: This coverage provides personal property coverage against all risks with certain exceptions in lieu of named peril.

Cost: 2% to 40% of base premium.

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Rate Comparison Chart:

Keep These Basics in Mind. This guide lists annual rates for four typical homeowners policies. The companies listed are those with the largest market share in Oklahoma that responded to a department survey. The sample policies may not match your home exactly, but they provide a way to compare prices among companies. The premiums in this guide are not the exact amounts you will be quoted. Your premium will vary according to your individual circumstances.

Be sure to read your policy carefully! Make certain you understand your coverage.

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  Scenario 1 Scenario 2 Scenario 3 Scenario 4
Dwelling Amount  $50,000 $100,000 $175,000 $250,000
Deductible $1,000 $1,000 $1,000 $1,000
Contents $25,000 $50,000 $82,500 $125,000
Personal Liability $100,000 $100,000 $100,000 $100,000
Medical Expenses $1,000 $1,000 $1,000 $1,000


Companies were asked to provide rates for their standard Homeowners program for each of the four scenarios shown using the following assumptions:

1. Policy Form HO-3 without any other optional coverages, debits, credits, etc. 2. The dwelling amount would be considered to be 80% (some companies require minimum 90 to 100%) of the dwelling replacement value. 3. The rates are for the most favorable fire protection class in the city.

4. A replacement cost policy including replacement for composition roof surfacing.

  OKC OKC OKC OKC OKC OKC OKC OKC TUL TUL TUL TUL TUL TUL TUL TUL
  F1 F 2 F 3 F 4 M 1 M 2 M 3 M 4 F 1 F 2 F 3 F 4 M 1 M 2 M 3 M 4
ALLSTATE INSURANCE CO.            1496 3175 5880 8365 1397 2966 5493 7783 1185 2515 4659 6571 1108 2351 4354 6162
ALLSTATE PROPERTY & CASUALTY INSURANCE CO. 2207 3305 5004 7075 2166 3243 4909 6941 1754 2616 3951 5576 1722 2567 3875 5470
ALLSTATE VEHICLE & PROPERTY INSURANCE CO. 1610 2178 3513 4513 1601 2170 3499 4480 1598 2123 3395 4442 1580 2103 3357 4376
AMERICAN FARMERS & RANCHERS MUTUAL INS. CO. 1030 1737 2940 4190 929 1565 2648 3773 834 1403 2372 3378 753 1265 2137 3043
AMERICAN NATIONAL PROPERTY & CASUALTY CO. 1538 2102 3010 3909 1444 1971 2821 3662 1086 1478 2107 2732 1016 1380 1967 2548
COUNTRY MUTUAL INSURANCE CO.                 1439 2092 3224 4362 1322 1923 2960 4009 1066 1549 2387 3230 980 1425 2192 2968
CSAA FIRE & CASUALTY INSURANCE CO. 1089 1307 1826 2453 1018 1211 1687 2259 902 1075 1495 2006 843 1000 1383 1843
FARMERS INSURANCE CO. 2855 4522 7966 11102 2849 4518 7960 11092 1624 2558 4471 6224 1619 2553 4463 6211
LIBERTY INSURANCE CORP. 1968 2276 2677 3023 1908 2203 2581 2932 1778 2037 2406 2748 1726 1972 2318 2644
METROPOLITAN PROPERTY & CASUALTY INS. CO. 1561 2625 3935 4434 1420 2390 3580 4024 1145 1929 2891 3249 1043 1756 2631 2957
NORTH STAR MUTUAL INSURANCE CO. 2029 2248 3169 4242 1826 2022 2850 3816 1428 1581 2228 2983 1286 1422 2003 2683
OKLAHOMA FARM BUREAU MUTUAL INSURANCE CO. 1562 2716 3842 5085 1407 2447 3462 4581 1180 2051 2901 3839 1063 1848 2614 3459
PROPERTY & CASUALTY INS. CO. OF HARTFORD 1659 3159 5094 6808 1579 3004 4842 6471 1398 2655 4275 5711 1331 2524 4064 5428
SAFECO INSURANCE CO. OF AMERICA 1301 1478 2004 2715 1258 1429 1937 2624 1085 1232 1670 2263 1049 1191 1615 2187
SHELTER MUTUAL INSURANCE CO. 1302 2123 3753 5261 1264 2060 3644 5106 998 1626 2875 4029 968 1578 2790 3910
STATE FARM FIRE AND CASUALTY CO. 2543 3561 5101 6535 2289 3205 4591 5882 1187 1663 2382 3051 1069 1496 2143 2746
TRAVELERS HOME AND MARINE INSURANCE CO. 906 1359 2485 3272 838 1257 2298 3027 728 1094 2026 2670 683 1025 1890 2491
UNITED SERVICES AUTOMOBILE ASSOCIATION 887 1308 2037 2800 816 1207 1888 2599 949 1343 2058 2821 888 1255 1928 2647
USAA CASUALTY INSURANCE CO. 911 1338 2080 2862 837 1231 1921 2649 992 1395 2131 2926 929 1302 1994 2741
USAA GENERAL INDEMNITY CO. 1067 1523 2328 3178 974 1397 2148 2939 1149 1578 2376 3237 1070 1469 2220 3030
                                 
  LAW LAW LAW LAW LAW LAW LAW LAW McA McA McA McA McA McA McA McA
  F 1  F 2 F 3 F 4 M 1 M 2 M 3 M 4 F 1 F 2 F 3 F 4 M 1 M 2 M 3 M 4
ALLSTATE INSURANCE CO. 1140 2419 4480 6324 1066 2263 4191 5931 1224 2595 4808 6788 1143 2427 4496 6340
ALLSTATE PROPERTY & CASUALTY INSURANCE CO. 1839 2746 4148 5858 1805 2693 4068 5745 1642 2446 3690 5206 1612 2400 3619 5107
ALLSTATE VEHICLE & PROPERTY INSURANCE CO. 1751 2355 3816 4938 1731 2336 3781 4875 1823 2393 4057 5541 1793 2360 3996 5437
AMERICAN FARMERS & RANCHERS MUTUAL INS. CO.  882 1486 2512 3579 796 1339 2263 3224 752 1265 2136 3042 679 1140 1925 2740
AMERICAN NATIONAL PROPERTY & CASUALTY CO. 1188 1619 2312 2998 1115 1517 2165 2806 1103 1500 2139 2773 1028 1396 1990 2578
COUNTRY MUTUAL INSURANCE CO. 1220 1773 2732 3696 1121 1630 2508 3397 1181 1716 2645 3578 1085 1578 2429 3289
CSAA FIRE & CASUALTY INSURANCE CO. 1029 1232 1719 2309 960 1143 1586 2123 1005 1197 1672 2053 932 1111 1545 2063
FARMERS INSURANCE CO. 2147 3397 5994 8356 2143 3394 5988 8348 1712 2714 4782 6667 1707 2710 4775 6657
LIBERTY INSURANCE CORP. 2146 2488 2956 3402 2072 2394 2833 3254 1828 2081 2441 2811 1782 2024 2377 2720
METROPOLITAN PROPERTY & CASUALTY INS. CO. 1229 2071 3104 3488 1120 1884 2824 3174 1578 2655 3981 4490 1436 2416 3623 4071
NORTH STAR MUTUAL INSURANCE CO. 1552 1717 2421 3241 1396 1545 2178 2915 1536 1701 2397 3209 1383 1530 2156 2886
OKLAHOMA FARM BUREAU MUTUAL INSURANCE CO. 1226 2131 3014 3989 1109 1928 2727 3608 1112 1933 2734 3618 1002 1742 2463 3259
PROPERTY & CASUALTY INS. CO. OF HARTFORD 1227 2324 3738 4991 1168 2210 3554 4744 1418 2693 4337 5793 1350 2561 4123 5506
SAFECO INSURANCE CO. OF AMERICA 1226 1394 1889 2559 1186 1347 1826 2474 1141 1296 1756 2380 1103 1252 1698 2300
SHELTER MUTUAL INSURANCE CO. 1074 1751 3097 4341 1043 1700 3008 4215 1021 1664 2943 4123 991 1616 2857 4005
STATE FARM FIRE AND CASUALTY CO. 2770 3878 5555 7117 2493 3490 5000 6406 1318 1845 2643 3386 1186 1661 2379 3048
TRAVELERS HOME AND MARINE INSURANCE CO. 1083 1618 2986 3938 1034 1543 2827 3724 786 1146 1993 2629 689 1014 1788 2363
UNITED SERVICES AUTOMOBILE ASSOCIATION 880 1250 1903 2601 807 1148 1754 2402 985 1359 2026 2747 883 1225 1840 2502
USAA CASUALTY INSURANCE CO. 926 1313 1996 2734 850 1204 1838 2520 1030 1415 2104 2855 923 1273 1908 2597
USAA GENERAL INDEMNITY CO. 1068 1466 2185 2964 971 1337 2004 2725 1222 1633 2385 3208 1083 1458 2148 2900

* F denotes Frame structure and M denotes Masonry. The numbers following the Frame or Masonry represent the Scenario. 

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Category: Best Insurance

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