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The Top 4 Home Insurance Companies in Oklahoma (updated November 14, 2023)

by Von Nix | Aug 5, 2020 | 2016, 2018, Bethany Home Insurance, Blog, Choctaw Home Insurance, Del City Home Insurance, Edmond Home Insurance, Guthrie Home Insurance, Home Insurance, Home Insurance Quote, Midwest City Home Insurance, Moore Home Insurance, Norman Home Insurance, Oklahoma City Home Insurance, Oklahoma Home Insurance, Shawnee Home Insurance, Stillwater Home Insurance, Summer 2016, Tulsa Home Insurance, Yukon Home Insurance

November 14, 2023

Home insurance in Oklahoma has totally changed in the last 6 months.  Not only are prices going up but now companies are starting to restrict how many home policies they offer.  We are seeing limitations on prior claim activity, credit scores, roof age and geographical area.

Many consumers think that insurance companies always make money and they don’t.  Most companies in Oklahoma are currently losing 10 to 20 cents on every dollar.  As a result, there is some panic and desperation that we have not seen in the past 40 years and probably never before.  Different people have varying opinion on why the southern half of the U.S. is seeing more hail storms; however, the fact is that the number of damaging hail storms is much higher than any other time in the last 50 or more years.

State Farm lost over $12 Billion dollars last year.  Most companies would be panicked with this type of loss and would move aggressively to eliminate further losses or take large rate increases.   However, I have been told that State Farm has around $150 Billion dollars in cash and other liquid assets.  Eventually State Farm will have to fix their loss problems or take large rate increase but for now they are a strong competitor most of the time.

Most all of the other quality companies like Travelers, Progressive, Safeco, Farm Bureau, AAA and Farmers are priced similar some of the time and far apart some of the time….it is totally unpredictable so you’ll have to shop around to find a company that wants your business.  That is why shopping through an Independent Insurance Agency like Statewide Insurance Agency makes so much sense.  We represent multiple insurance companies to find the best one for you!

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January 8th, 2023

Home insurance cost in Oklahoma started rising dramatically in the early part of 2022.  I have to stress that no one company is best for all consumers and that is why an Independent Insurance Agent representing multiple companies has the best chance of saving you money without sacrificing quality coverage.  With that said, here is my current ranking of home insurance companies in Oklahoma.

#1:  United Home Insurance Company (UHIC).  UHIC is a smaller, regional company out of Arkansas that has been around for over 100 years.  They do an excellent job with claims and they are an excellent solution for homes built after 1970 and Dwelling Coverages under $600,000.  UHIC oftentimes has great car insurance rates to go with their good home rates.

#2: “Openly” aka Rock Ridge Insurance Company.  This is a relatively new company; however, they have very strong financial backing, their coverage’s are superior to almost all other companies and, oftentimes,  they have the best rate.  It would be fair to question the long term ability of Openly to price this competitively; however, all companies seem to have this struggle in Oklahoma with regard to home insurance.  Openly likes high value homes and they are sometimes an excellent solution for homes that are over 2500 s.f.  They are very particular on who they insure so they are not a solution for everyone.

#3:  Travelers Insurance

#4:  State Farm

#5:  AAA Insurance

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Oklahoma Home Insurance Cost Update:  August 4, 2020

Two very important things have happened in the last 60 days.  First, Safeco Insurance has introduced lower pricing on their home insurance and second, Progressive Insurance implemented a fairly large rate increase.  As a result, this is the way I now view the competitive position of home insurance companies in Oklahoma…

Update: February 23, 2020

Here is my latest update for home insurance in Oklahoma….*

Update: February 23, 2020

Here is my latest update for home insurance in Oklahoma….*

Update: October 13, 2019

Update: 1-12-2019

The Oklahoma homeowners insurance market continues to change in Oklahoma so I’m going to revise my ranking of companies….

Oklahoma home insurance rates increased roughly 50% during a 5 year period ending in 2015 as homeowners embraced continuous wind and hail storms, especially within the western one-half of the state.  

These increases have Oklahoma homeowners scrambling to find quality home insurance with stable companies without the high cost that many insurers are still trying to charge.

In our opinion, the following 4 companies offer the greatest home insurance value in Oklahoma and, in our opinion, these companies will have the best chance of saving Oklahoma consumers money as you seek quotes for your homeowners insurance needs. All  4 of these companies offer outstanding coverage, excellent claims service and they usually have a lower cost than competitors.  

      1.   Safeco Insurance ( a Liberty Mutual Company)

      2.  Travelers Insurance

      3.  State Farm Insurance

      4. Allstate Insurance

May 5, 2018 Consumer Update:  3 of the last 4 years have been very profitable for the companies offering home insurance quotes in Oklahoma.  As a result, we are starting to see some companies offer better rates in many situations.  Also, Progressive Insurance has come into Oklahoma offering an excellent home insurance policy and oftentimes the rate is outstanding.  I have confidence that Progressive will be consistent and provide and excellent home insurance value for Oklahoma customers.  As a result, here is my new, updated rankings….

I have moved Allstate above State Farm because Allstate has a better home insurance cost right now.  However, long-term, State Farm will provide good value relative to other premium cost carriers, in my opinion.

Statewide Insurance Agency represents Progressive, Safeco Insurance and Travelers Insurance but not State Farm or Allstate.  

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