Oklahoma homeowners might be shocked to find out that their insurance premiums are among the highest in the country. This is primarily due to the destructive weather conditions found in the area. In order to get the lowest priced homeowner’s policy that still covers all your needs, you will have to do a robust job of comparison shopping and really come to understand the factors that influence the price of insurance.
The Most Affordable Homeowners Insurance In Oklahoma
While many factors will influence your total cost of homeowner’s insurance, here are some averages people in places like Claremore and Tulsa OK can expect. For the cheapest overall insurance on average:
● Farmers $2,371
● American National $2.606
● Oklahoma Farmers Union $2,930
● Great Northern $3,503
● State Farm $3.598
You can influence your premiums by changing your deductible. For example, the average cost of a plan with a $500 deductible is $3,811 while the average cost of a plan with a $5,000 deductible is $2,659. The deductible is the amount of money you have to pay out of your own pocket before insurance takes over.
Tips To Getting Lower Homeowner’s Policy Rates
#1. Shop Around Doing side-by-side comparisons is the best way to find out who has the cheapest plan for you. Each person’s situation differs and that can change the cost of homeowner’s insurance. You might never have the same premiums as your next-door neighbor.
#2. Raise Your Deductible As stated above, having a higher deductible lowers your insurance cost on premiums. However, if you think you might make one or more claims this year you might want to rethink that until you have a hefty savings account.
#3. Combine Homeowner’s Insurance With Auto Bundle and save, most companies have competitive discounts for people that have multiple policies with the same company. Being a long time customer can also get your lower rates.
#4. Home Safety Features Fireproofing, weatherproofing, and security systems can all get you discounts on homeowner’s insurance. Sometimes upgrading your sprinkler or security systems can net you a discount of up to 15 or 20 percent.
#5. Seek Additional Discounts Discounts vary by state and by company. Some employers and professionals will have their own discounts. Some companies offer discounts to retired folks because they are home more often which detours burglars.
#6. Maintain A Good Credit Score Having poor credit can make it difficult and more expensive to obtain insurance policies. To protect your credit score make payments on time and have a good debt to income ratio.
#7. Compare Rates And Coverage At Least Once A Year Things change, sometimes it’s good to review your policy and do another round of comparison shopping. If you have a good insurance broker they can stay on top of rate changes for you. Many smart homeowners will review their policy at least once a year.