A Guide to Home Insurance in Oklahoma (OK)

Seeking out Oklahoma Home Insurance that is both high quality and affordable is a good idea to do at an early stage when you are either thinking of buying a new home, have just moved in, or are looking to find a better deal then you currently have.

What is the Average Cost of Oklahoma Home Insurance?

Oklahoma has 77 different counties and the rates of insurance can vary quite considerably between them, but taken as a whole Oklahoma is actually one of the more expensive states to take out homeowners insurance.

It is one of only five states where the average cost of cover is greater than a $1000, with Oklahoma coming in at an average figure of $1,048 for a year’s worth of cover according to government statistics.

This puts Oklahoma as the fifth most expensive place to purchase home owners insurance in the United States on average, with only Texas, Louisiana, Massachusetts and Florida being more expensive.

At first these facts may seem daunting, but the reality is that if you own a property in Oklahoma then you are going to need to buy Oklahoma Home Insurance, and so there is no point in worrying about the statistics, you simply have to press on and see if you can find a better deal that will see you properly covered for an affordable price.

One of the main reasons why the cost of cover in Oklahoma is so high is that the state suffers from a disproportionate amount of storms.

To give you some idea of how many you simply need to consider that in 2011 there were over 1000 tornadoes and over 1000 hail and wind storms in Oklahoma, compared to 21 tornadoes and 20 hail and wind storms in Oregon where the average cost of home insurance is $439.

Usually you will find that weather data is a very clear barometer on how much the home insurance premiums will cost for a particular state, because the great unknown for insurance companies is major storm damage that overnight can cause literally billions of dollars’ worth of damage (Hurricane Katrina cost property damage estimated at $81 billion).  And because of the higher level of storm unpredictability in Oklahoma, it means that it is always going to cost more to insure a home in Oklahoma then most other states.

If you then also factor in that Oklahoma has one of the largest prison populations per head of population, then you have a recipe for higher costs to get Oklahoma Home Insurance.

This doesn’t of course mean that you cannot find home insurance in Oklahoma that is proportionately cheaper, because there will always be better rates on offer if you shop around and look closely at what is available.  And in fact when the costs of insurance are generally that much higher, than it actually makes more sense to do exactly that, because the amount that you can potentially save yourself is that much greater.

When you look at the range of policies that are available you should be careful to read the actual policy documents and not simply the marketing blurb that all insurance companies spill out.

With insurance, as with so many other things in life, the devil is often to be found in the detail, and so you need to be extremely clear about what it is you are buying; and that can only be found in the small print in the policy itself.

Nevertheless, if you take the time to do proper research then finding affordable Oklahoma Home Insurance cover is still very possible to do and considerable savings are possible.


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