Home Insurance and Car Insurance in Oklahoma

Homeowners Insurance Coverage Options in

Oklahoma home insurance typically has a set list of covered (named) perils and protections, but in some instances, additional coverage may be necessary. Depending on what part of the state you call home, you may need to pay for extra insurance protection against certain hazards, particularly wind and hail. The most common types of home insurance coverage include:

• Dwelling coverage protects your home’s structure, such as its roof and walls.
• Personal property coverage can help pay the repair or replacement costs of the things inside your home, such as furniture, appliances and clothing. It also covers theft or damage outside the house.
• Liability protection coverage defends you against lawsuits from people who may be injured on your property or whose property you have damaged.
• Guest medical protection coverage can pay for medical expenses for someone who is injured while visiting your property.

As you shop for insurance, one thing to consider is the upper limit of your policy. Actual cash value insurance policies will pay for the current value of the dwelling or property, prior to the loss and taking depreciation into account. Full replacement cost policies, however, don’t factor depreciation into the claim and can often pay the full cost to rebuild or replace the loss, even if supply and labor costs exceed the cash value.

For example, you purchase your home for $175,000. A few years later, a massive hailstorm comes through and demolishes your home. Rebuilding your home is estimated to cost $200,000 due to increased labor and material costs, but your policy only pays actual cash value—which means you’ll only be covered up to $180,000. Without full replacement cost coverage, you’ll be on the hook for the additional $20,000.

Common Causes of Loss in

Owing to its location in “Tornado Alley,” windstorms are one of the most common culprits for insurance claims in Oklahoma. But tornadoes and severe weather are far from the only common causes of loss. Other routine insurance claims commonly filed in Oklahoma include:

• Hail: Tornadoes and severe thunderstorms often bring hail, which can cause a lot of damage to many Oklahomans’ roofs and gutters.
• Minor earthquakes: In the past year, 2,064 earthquakes were recorded in the state.² While most earthquakes in Oklahoma are minor, they can cause structural issues to your home.
• Windstorms: As noted, Oklahoma is a prime breeding ground for tornadoes and other windstorms. In 2019, Oklahoma saw a record 149 tornadoes, with 105 of them coming in the month of May.³

Additional Coverage Options Recommended for Homeowners

Depending on where you live in Oklahoma, your insurance company may require you to purchase additional coverage to help protect against hazards common to that area. In addition to the standard set of insurance policy options, you may be encouraged to purchase additional coverage:

• Flood insurance is almost never offered as part of basic homeowners policies. If you live in a flood zone or have concerns about flooding, ask about a supplemental flood policy.
• Water backup coverage for sewers and sump pumps can help pay for repairs or damage if the sewer backs up or your sump pump stops working and water backs up into your drains.
• Earthquake insurance isn’t part of regular home insurance policies either, so you might want to add this coverage—especially if you live in an area prone to even minor earthquakes.
• Other structure insurance can help cover any buildings that aren’t attached to your home, such as gazebos, barns or detached garages.

Our Home Insurance Partners in

SelectQuote works with trusted home and auto insurance companies throughout Oklahoma to deliver high quality policies at affordable rates. When you let SelectQuote shop for your home insurance coverage, we’ll compare rates from trusted insurance companies to help find a policy that meets your needs for both protection and budget.

What is the average home insurance cost in ?

According to recent data from the Insurance Information Institute, Oklahoma homeowners pay an average of $1,944 per year across all types of home insurance policies.⁴ Individual rates vary based on several factors—even next door neighbors may pay different insurance premiums! Common factors that influence your insurance rates include:

• Your ZIP code
• The age and condition of your home
• Your claims history
• Your deductible for claims
• Your credit score

Home insurance rates in Oklahoma for SelectQuote customers average around $157.15 per month.**

Homeowners Insurance Discounts in

One major way to save on home insurance in Oklahoma is to ask for discounts on your coverage. Some common home insurance discounts include:

• Customer loyalty discounts
• Discounts for filing few or no claims
• Discounts for installing home security systems
• DIscounts for home improvements
• Discounts for bundling home insurance with other types of coverage

Auto Insurance Laws and Requirements

Oklahoma’s auto insurance requirements are similar to most other states in that drivers of all vehicles and ages are required to carry a minimum legal amount of auto insurance coverage. This coverage comes in two forms: bodily injury liability insurance and property damage liability insurance.

Bodily injury liability coverage helps pay for hospital bills or funeral costs if another driver, their passenger(s) or pedestrian is injured in an auto accident where you’re at fault. Property damage liability insurance provides coverage in the event that you damage another person’s vehicle or property as a result of an auto accident where you’re at fault. Required coverage limits are as follows:

• $25,000 bodily injury protection per person
• $50,000 bodily injury protection per accident
• $25,000 property damage protection

This coverage is often referred to as 25/50/25 insurance.

In addition to the required coverage, there are other types of auto insurance coverage you can buy that provide even more protection. In many cases, the mandatory minimum coverage isn’t enough to help pay for all the damages resulting from a car accident. Oklahoma’s own department of insurance recommends that you purchase $100,000 bodily injury coverage per person, $300,000 bodily injury per accident and $100,000 for property damage protection.⁶

Other types of insurance you may consider purchasing include:

• Uninsured motorist insurance coverage helps pay for damage to your vehicle as well as medical bills for you and your passengers in the event you’re involved in an auto accident with a hit-and-run driver or a driver with no liability insurance coverage.
• Underinsured motorist insurance coverage helps pay the difference between your losses and what the other driver’s liability insurance coverage pays.
• Personal injury protection coverage can help cover medical or funeral expenses if you or your passengers are hurt in an accident.
• Collision coverage helps pay for expenses related to repairing or replacing your vehicle if it’s been damaged in an accident.
• Comprehensive coverage helps pay for repair or replacement of your vehicle that has been stolen or damaged by storms, vandalism, animal collisions or falling objects.
• Towing insurance helps cover the costs of having your vehicle towed to a repair shop after an accident.
• Rental car insurance covers the cost of a rental car after a car accident, up to a certain amount.

All data on average expenditures is provided by the Insurance Information Institute.

Teen Driving Laws

Oklahoma’s teen drivers are subject to several restrictions when driving. The state has a graduated driver’s license program⁷ where teen drivers are eligible for a learner’s permit at the age of 15 years and six months, provided they:

• engage in driver education courses
• pass the written driving exam
• are accompanied by a licensed driver who is 21 years of age or older.

After six hours with a learner’s permit and 50 hours of behind-the-wheel training, teen drivers can graduate to an intermediate license. The intermediate license includes limits on both passengers and the time of day during which a driver can be behind the wheel. After six months with the intermediate license or at 18 years of age, drivers can apply for an unrestricted license.

Car Registration Information

To register your vehicle in the state of Oklahoma, you’ll need to provide proof of ownership—typically the vehicle’s title—as well as proof of auto insurance. This proof can be your insurance card, but an official policy statement or piece of company letterhead can suffice.

What is the average car insurance cost in ?

Your car insurance rates in Oklahoma will vary based on several factors. Your ZIP code influences what you pay for auto insurance in Oklahoma, as does your driving history and number of claims filed. Other common factors that can influence your auto insurance costs include:

• Make and model of your vehicle
• Your deductible for claims
• Other insurance policies held with that carrier that could qualify you for a discount
• Safe driving practices
• Telemetrics (mobile apps) to track your driving

Our Auto Insurance Partners in

SelectQuote helps you to shop for insurance coverage from some of the most trusted, well-established auto insurance companies all over the country, including Oklahoma. We partner with carriers who offer a superior balance of customer service, affordable coverage and discounted rates.