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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January 17, 2022
Here is my latest assessment of home insurance in Oklahoma…
- I am staying with Safeco as #1 for the reasons stated below.
- “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.
- Allstate
- Travelers
- AAA
- State Farm
- Farmers
We represent Safeco, Openly, Allstate and Travelers but not AAA, State Farm or Farmers
Homeowners Insurance in Oklahoma Update: January 10, 2021
Here is my latest assessment of homeowners insurance in Oklahoma…
- Safeco Insurance: I’m leaving Safeco at #1 for preferred auto and home bundled packages. Their home price/coverage is excellent and their car insurance is good. Their claim service is outstanding.
- United Home Insurance: They are new to my list…they offer excellent coverage and an excellent price. The downside is that they are a much smaller, regional company. Historically, I have felt that smaller companies were more prone to have unstable rates on a long-term basis; however, we are seeing instability from all the big companies so this “downside” may be more in my head than it is a reality! The other downside is that United Home’s car insurance usually is not real competitive. This is overcome by the fact that I have many other companies that would love to do your car insurance and with very good pricing. As a result, based upon great rates and solid coverage, I place United Home at #2. Also, United Home’s maximum dwelling coverage is $500,000.
- Allstate Insurance: They have aggressive growth strategies in Oklahoma and so their pricing is good in some areas for some consumers…I’m not sure about their rate stability and consumers should ask about discounts that diminish or totally go away after the first year!
- State Farm Insurance: I’m lowering State Farm just because I think, most of the time, you are paying more than you need to just for the name. It seems like many State Farm customers are with them because they think other companies are not going to pay their claims as they should and this just isn’t true. They offer excellent service and good long term value for some consumers. Their pricing varies quite a bit but they are worthy of consideration.
- AAA Insurance: Their pricing and coverage are worth of consideration. The downside is that you usually be dealing with an 800 number after you purchase the coverage and they will probably never review your renewal offer in later years.
Von Nix
Statewide Insurance Agency dba Okhomeinsurance.com
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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…
- Safeco Insurance: Strong home insurance price, excellent coverages and their claim service is doing great. The Safeco car insurance is competitive also so bundled deals are good.
- State Farm Insurance: They offer excellent service and good long term value for some consumers. Their pricing varies quite a bit but they are worthy of consideration.
- Allstate Insurance: They have aggressive growth strategies in Oklahoma and so their pricing is good in some areas for some consumers…I’m not sure about their rate stability and consumers should ask about discounts that diminish or totally go away after the first year!
- Progressive Insurance: They will still be the best on a few home insurance deals and their car insurance is usually the best for drivers with excellent records!
- Travelers Insurance: They have excellent coverages and claim service and are competitive on many home and car insurance bundles in Oklahoma.
- Disclosure – Statewide Insurance Agency represents Progressive, Safeco and Travelers but not State Farm or Allstate.
Update: February 23, 2020
Here is my latest update for home insurance in Oklahoma….*
- Progressive Insurance: They still offer an excellent value and are a good long term choice for many consumers
- Safeco Insurance (a Liberty Mutual Company): This is, by far, the biggest change on my update. Bundling discounts with Safeco pretty much require you to place your home and car insurance with them; however, their package is going to be very strong for consumers with good credit and good loss history.
- State Farm Insurance: They offer excellent service and good long term value for some consumers. Their pricing varies quite a bit but they are worthy of consideration.
- Allstate Insurance: They have aggressive growth strategies in Oklahoma and so their pricing is good in some areas for some consumers…I’m not sure about their rate stability and consumers should ask about discounts that diminish or totally go away after the first year!
- Encompass Insurance (an Allstate Insurance Company): For many years Encompass was the “high value home” solution offered by Allstate. Now Encompass is available for dwelling coverage as low as $150,000 and as high as $3M. They have excellent coverages and they are becoming increasingly competitive.
- Disclosure – Statewide Insurance Agency represents Progressive, Safeco and Encompass but not State Farm or Allstate.
Update: November 15, 2019
Keep in mind that no one company is the best for all consumers and that is why we represent multiple name brand insurance companies. HOWEVER, with that said, I will also tell you that Progressive Insurance is dominating new business sales for Oklahoma homeowners insurance and Oklahoma car insurance. They are the best solution for about 65% of our new policies. Furthermore, they are strong in car insurance as well as home insurance. Progressive is also very conservative in their underwriting which gives us confidence that they will be competitive provider long term for preferred customers. 10 years ago, many consumers saw Progressive as a “high risk” company….that has changed in the last 5 to 10 years and they are focused on the preferred home and car insurance markets in Oklahoma and across the U.S.
Update: 1-12-2019
The Oklahoma homeowners insurance market continues to change in Oklahoma so I’m going to revise my ranking of companies….
- Progressive Insurance: They still offer an excellent value and are a good long term choice for many consumers.
- Travelers Insurance: Conservative underwriting practices has resulted in fewer rate increases relative to their competition….stable and committed to Oklahoma.
- Allstate Insurance: They have aggressive growth strategies in Oklahoma and so their pricing is good in some areas for some consumers…I’m not sure about their rate stability.
- State Farm Insurance: They offer excellent service and good long term value for some consumers. Their pricing varies quite a bit but they are worthy of consideration.
- Safeco Insurance ( a Liberty Mutual Company): They offer excellent claim service and they are very friendly to do business with. Some of their pricing on new policies is a challenge; however, Safeco’s car insurance is sometimes tough to beat. As a result, auto and home bundles can still be very competitive with Safeco Insurance.
Oklahoma home insurance rates increased roughly 30% during a 5 year period ending in 2017 despite the fact that our weather was pretty good in 2014 – 2017.
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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 5 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 5 of these companies offer outstanding coverage, excellent claims service, they usually have a lower cost than competitors and they offer good rates on car and home insurance bundles.
1. Progressive Insurance
2. Safeco Insurance ( a Liberty Mutual Company)
3. Travelers Insurance
4. State Farm Insurance
5. Allstate Insurance