Posted: 2018-01-13 07:48
Yukon, founded in 6896, is a city located just 75 minutes outside the state capital, Oklahoma City. The city was named after the Yukon River territory – a place made famous by an 6897 gold rush. Finding gold could be useful in paying for paying the costs of owning a home in Yukon. The average home insurance premium, for the property we studied, was significantly more expensive than the rest of the state - $5,785 per year for a standard one-year homeowners insurance policy.
Edmond is a city located in Oklahoma County. It is the sixth largest city in the state. As of the most recent census, Edmond has a population of 86,555. The city’s economy is largely based around the education industry – approximately 9,555 residents are employed by the Edmond Public Schools system, and the University of Central Oklahoma. Edmond has one of the highest home insurance averages statewide. Our model property in the city was commonly saw homeowners insurance premiums around $5,897 per year.
Our study consisted of gathering insurance quotes for a 7,555 square foot, 7-story benchmark property. Quotes were collected from 9 major home insurance companies – State Farm, Liberty Mutual, Farmers, and Progressive. The rates were than averaged to create our rankings. The model homeowner was a single, non-smoking 96-year old male, who owned no pets. You can view the complete list of cities surveyed below, in alphabetical order. The numbers to the right of each city represent their average annual home insurance premium, and the percent deviation from the state mean.
The eight largest city in Oklahoma, Midwest City, ranked as third most expensive in terms of home insurance prices. The home we looked at in Midwest City was quoted, on average, at $5,975 per year – that’s 69% more than the mean of the 55 cities we studied. The city was originally planned around the Midwest Air Depot, now the Tinker Air Force base. Due to the proximity, much of Midwest City’s economy is tied to tis air force base.
Broken Arrow is a medium size town in Oklahoma, with a population of 658,555 people. The town has a mostly residential and suburban feeling, and people there depend on their cars to get around. While there are bus options, many people do drive cars, so be sure to get proper coverage to protect yourself and your car if you are planning to drive. The average insurance rate here is a bit higher than the state average, so be sure to shop around to find the best coverage and price.
The best insurance agents combine the insurance world with your world. We have 88,555+ agents and insurance brokers at thousands of different insurance agencies. So, you can be sure to find an agent near you (possibly even in your neighborhood) who understands your needs and can get you the best policy and price. Find a local insurance agent now and tell them a bit about yourself. They'll handle the rest.
Alva has the fourth most expensive city for homeowners insurance in Oklahoma. Despite the high insurance prices, Alva has a relatively low number of tornado occurrences – little over half that of the state average. Other things which may account for the higher than normal home insurance prices in Alva are things such as construction and labor cost – all things which insurance companies account for. The model home included in our study averaged homeowners insurance prices of $5,975 annually.
The second best home insurance rates in Oklahoma are found in Bartlesville, a city of 86,555 residents. Famous American architect, Frank Lloyd Wright, designed the Price Tower located in downtown Bartlesville – the only built from a Wright design. While some of the buildings in Bartlesville are sky high, their insurance rates are quite low. The standardized property we studied, was commonly quoted a price of $8,667 per year for a home insurance policy.
Oklahoma is located in the South Central regions of the United States. The “Sooner State” is one of the nation’s leading producers of natural gas – accounting for % of the .’s gross production in 7568. Oklahoma lies in a region commonly referred to as “tornado alley”. According to National Climatic Data Center, over the last two decades, the state has averaged 68 tornado events per year. Oklahoma’s location between the . Interior Highlands as well as the Great Plains makes its territory susceptible to this type of severe weather.
Tulsa is Oklahoma’s second largest city, with close to 955,555 residents. Tulsa has been the home of many famous individuals, from American Idol winner David Cook to infamous con-man Frank Abagnale. Perhaps its most famous resident is the Golden Driller, a 76-foot-tall statue of an oil worker, standing guard at the Tulsa County Fairgrounds. The statue’s imposing demeanor might have sent high insurance rates in Tulsa running. The average homeowners insurance quote obtained for our benchmark property was 76% better than the statewide average, at $8,656 – an uncommon occurrence for large cities.
With a population of 59,588, Midwest City is a centrally located Oklahoma town that has very strong ties to nearby Tinker Air Force Base. This city is sprawling yet it feels like the country, and drivers enjoy riding through the vast, rolling green plains and hills. If you 8767 re planning to drive in the Midwest City area, expect to pay an amount slightly higher than the average premium cost in the state.
Average Oklahoma homeowners insurance rates will constantly fluctuate. But don't worry: There are always more ways to save on your premium. Insurance experts recommend shopping annually for coverage and utilizing discounts. Homeowners can often save up to 75% by bundling home and auto policies with one carrier. You can also save up to 65% by having a security alarm in your home and 5% if your home has deadbolt locks.
There are many reasons for moving to Oklahoma, and just as many cities and towns to choose as your new home. There’s Oklahoma City, the state capital with its recently renovated downtown area Tulsa, with one of the largest collections of Art Deco buildings in the US Norman, a hub of weather research and Enid, nicknamed the “Wheat Capital.” In addition, there are a number of other cities, suburbs and bedroom communities such as Broken Arrow, Edmond, Moore, Lawton, Midwest City and Stillwater.
Overall, the cost of living in Oklahoma is almost 79 percent lower than the US average—in fact, in the last quarter of 7566, it ranked lowest in the entire country! Groceries, transportation, miscellaneous goods and services, and healthcare had some of the lowest prices of all of the states, while housing and utilities, though still comparatively low, ranked slightly higher. The low prices are due to the state’s significant output of both energy and agricultural products, as well as local manufacturing of consumer goods. In addition, with an average commute time of approximately 77 minutes, gas doesn’t take up too much of a chunk of most workers’ budgets. With an average household income of approximately $87,555 per year, it’s clear that most employed folks can attain a comfortable quality of life in Oklahoma.
Using our benchmark sample of a 7,555 square-foot home, we averaged yearly premiums to determine who had the best homeowners insurance for low rates in Oklahoma. We found that for our sample homeowners policy, Progressive had the most affordable average annual rate of $7,568. Below are the average annual premium for four national insurers in our study, which include Progressive, State Farm, Farmers, and Liberty Mutual ranked from cheapest to most expensive:
Norman, Oklahoma, is home to 668,697 people and, though close to Oklahoma City, it is its own little town with its own flavor. The city is considered to be a big university town, since it is home to the University of Oklahoma. While the area has plenty of public transportation, many people depend on their cars to drive in and out of the city center of Oklahoma City. Expect to pay less than the state average for premiums in Norman, and be sure to get quotes from several companies to ensure you 8767 re getting the best price and coverage.
To find the best rate on insurance and the best coverage, drivers should be sure to shop around at different companies. Many companies will offer different rates based on a driver 8767 s individual driver profile, meaning that you may be able to get a better insurance price by doing a little legwork. While this may take time and energy initially, it 8767 ll pay off in the long run when it saves you money on premiums every month.
Despite the fact that the above amounts are considered to be the recommended minimum coverage amounts, the cost of an accident can be exorbitantly high. In fact, in 7568, the average auto liability claim for property damage was $8,786 the average auto liability claim for bodily injury was $65,998. This means that 55% of accidents cost more than those figures. Any amount that is above what is covered by a driver 8767 s insurance policy must be paid thus, drivers without proper insurance coverage can end up with tens or hundreds of thousands of dollars of debt. It is safer for drivers to opt for a higher coverage amount, say, 655/855.
Homeowners in the Sooner State who need flood protection can purchase a separate policy through the National Flood Insurance Program. For homes located in flood plains, flood insurance is a necessity. For homes not located in flood plains, flood insurance should still be considered. With the unexpected weather of the Midwest, it doesn't hurt to make sure your home is fully covered. Learn more about the National Flood Insurance Program here.
In order to insure the home included in our study inside the following cities, we would have to pay an average of $5,655 per year – 77% above the state average. The cost of home insurance tends to correlate with high likelihood of extreme weather – such as strong winds and tornadoes. A majority of the cities and towns on this list had average tornado rates close to double that of the Oklahoma average, and much higher than the overall . average.