While State Farm is the best for $20K in personal property coverage with an average annual premium of $92 and a MoneyGeek score of 96 out of 100, the best for you will depend on your needs. USAA is best for veterans, and Chubb is best for those with poor credit. Remember to select a provider that aligns with your specific requirements.
Best and Cheapest Renters Insurance in Oklahoma (Aug 2024)
The best renters insurance company in Oklahoma is State Farm, with a MoneyGeek score of 96 and an annual premium of $92. State Farm is affordable and has good service. Chubb is cheapest at $149 per year.
Updated: November 1, 2024
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State Farm is the best overall renters insurance provider in Oklahoma with a MoneyGeek score of 96 out of 100 and an average annual premium of $92.
Shelter is the cheapest renters insurance provider in Oklahoma with an average annual premium of $92.
Chubb is the best renters insurance provider for service quality, with a MoneyGeek score of 100 out of 100, and the average annual premium is $149.
State Farm is the best renters insurance provider for those needing extra personal property coverage of $100K, with a MoneyGeek score of 96 out of 100, and the average annual premium is $217.
USAA is the best renters insurance provider for military members with a MoneyGeek score of 100 out of 100 and an average annual premium of $141.
Chubb is the best renters insurance provider for those with poor credit in Oklahoma, with a MoneyGeek score of 98 out of 100 and an average annual premium of $262.
Why Trust MoneyGeek? We sourced data from the Oklahoma Department of Insurance and Quadrant Information Services to find the best renters insurance in Oklahoma.
Renters insurance rates in Oklahoma reflect the best quotes as of September 2024.
Overall Best Renters Insurance in Oklahoma
State Farm is the best renters insurance provider in Oklahoma, with a MoneyGeek score of 96 out of 100 and an annual premium of $92 for $20K in personal property coverage. This provider typically balances both cost and customer service. The following providers are the two best renters insurance providers in Oklahoma for the same policy:
- State Farm: MoneyGeek score of 96 out of 100 ($92 per year)
- Chubb: MoneyGeek score of 94 out of 100 ($149 per year)
State Farm has perfectly balanced customer satisfaction and affordability. However, the best option for you will still depend on your needs.
State Farm offers the best overall renters insurance in Oklahoma because it balances customer satisfaction and affordability with an annual premium of $92.
State Farm provides coverage for cyber event/ID theft, which helps restore your identity if compromised, by reimbursing expenses and offering expert assistance. Such protection is invaluable for renters who shop online or engage in other digital activities, ensuring their sensitive information remains secure.
- Ranks second for affordability at an average annual premium of $92\
- Ranks second for customer satisfaction
- Ranks second for coverage
- Missing scheduled personal property coverage
To determine the best overall renters insurance in the state, MoneyGeek's system prioritized customer satisfaction and affordability. Secondary factors included coverages and financial stability.
State Farm | 96 | $ 92 |
Chubb | 94 | $ 149 |
Shelter | 87 | $ 92 |
American National | 83 | $ 150 |
Oklahoma Farm Bureau | 75 | $ 162 |
Foremost Insurance | 70 | $ 214 |
The Hanover | 52 | $ 431 |
Cheapest Renters Insurance in Oklahoma
Shelter offers the cheapest renters insurance in Oklahoma with an annual premium of $92 for $20K in personal property coverage and a $1,000 deductible. The following providers are the two cheapest:
- Shelter: $92 per year
- State Farm: $92 per year
Personal property coverage protects your belongings, such as furniture, electronics and clothing, against risks like theft or fire. Cheap renters insurance policies often have low personal property coverage limits. Higher personal property coverage limits can increase your monthly costs, but they also provide better protection if you own many belongings.
Shelter | $ 92 |
State Farm | $ 92 |
Chubb | $ 149 |
American National | $ 150 |
Oklahoma Farm Bureau | $ 162 |
Foremost Insurance | $ 214 |
The Hanover | $ 431 |
When selecting renters insurance in Oklahoma, prioritize quality service over lower costs. Paying more for the best renters insurance ensures efficient claims processing and potential long-term savings, making it a smarter choice than opting for the cheapest plan.
Cheapest Renters Insurance by High Deductible in Oklahoma
In Oklahoma, State Farm offers the cheapest renters insurance for $20,000 in personal property coverage with a $2,000 deductible, with an annual premium of $84. The two cheapest providers are:
- State Farm: $84 per year
- Shelter: $85 per year
A deductible affects your costs by determining how much you pay out-of-pocket before insurance coverage starts. A high deductible can help lower your insurance costs. Look at how rates change using the table below.
State Farm | $ 84 |
Shelter | $ 85 |
Chubb | $ 121 |
Oklahoma Farm Bureau | $ 145 |
American National | $ 150 |
Foremost Insurance | $ 196 |
The Hanover | $ 393 |
Best Renters Insurance for Customer Service in Oklahoma
Chubb is the best renters insurance company for service quality in Oklahoma for a $20K personal property coverage, with an annual premium of $149. The top two providers are:
- Chubb: MoneyGeek score of 100 out of 100 ($149 per year)
- State Farm: MoneyGeek score of 90 out of 100 ($92 per year)
Great customer service is critical for renters because it provides peace of mind and security. When you make a claim, great service ensures your process is smooth and your issues are resolved quickly.
In Oklahoma, Chubb ranks first in both customer satisfaction and coverage, with an annual premium of $149.
Chubb offers contents replacement cost and rental car coverage. Contents replacement cost ensures you receive the full cost to replace your personal belongings, not just their depreciated value. Rental car coverage provides primary insurance for cars you rent, which can save you money by eliminating the need for additional rental insurance.
- Ranks first for customer satisfaction
- Ranks first for coverage
For renters who prioritize service quality, MoneyGeek's scoring system in the state emphasizes customer satisfaction. Secondary factors include coverages and financial stability, catering to renters focused on service quality.
Chubb | 100 | $ 149 |
State Farm | 90 | $ 92 |
American National | 77 | $ 150 |
The Hanover | 74 | $ 431 |
Shelter | 71 | $ 92 |
Oklahoma Farm Bureau | 60 | $ 162 |
Foremost Insurance | 59 | $ 214 |
Best Renters Insurance for Extra Personal Property in Oklahoma
State Farm is the best renters insurance company for renters needing $100K of personal property coverage in Oklahoma, with an annual premium of $217. The two best providers are:
- State Farm: MoneyGeek score of 96 out of 100 ($217 per year)
- American National: MoneyGeek score of 88 out of 100 ($238 per year)
Renters with more personal belongings need higher personal property coverage. Personal property coverage helps protect your valuables against theft, fire or other damages. However, higher personal property coverage usually means a higher cost. That’s why it's essential to find a provider who can balance cost and great service, ensuring you have sufficient coverage for your valuables without overpaying.
In Oklahoma, State Farm ranks first for affordability and customer satisfaction for renters needing extra personal property coverage, with an annual premium of $217.
State Farm offers protective device and cyber event/ID theft coverages. Protective device coverage provides discounts if you have a smoke detector or an alarm system, helping lower your premium. Cyber event/ID theft coverage can restore your identity and cover related expenses, crucial for protecting your digital and financial information.
- Ranks second for customer satisfaction
- Ranks second for coverage
To find the best renters insurance for renters who need higher personal property limits in the state, MoneyGeek's system prioritizes customer satisfaction and affordability. Additional factors like coverages and financial stability were also assessed.
State Farm | 96 | $ 217 |
American National | 88 | $ 238 |
Shelter | 87 | $ 239 |
Chubb | 86 | $ 647 |
Foremost Insurance | 76 | $ 436 |
Oklahoma Farm Bureau | 72 | $ 535 |
The Hanover | 52 | $ 1,361 |
Best Renters Insurance for Military Families in Oklahoma
USAA is the winning company for homeowners with military backgrounds in Oklahoma, with an annual premium of $141 for $20K in personal property coverage. The two best providers are:
- USAA: MoneyGeek score of 100 out of 100 ($141 per year)
- State Farm: MoneyGeek score of 96 out of 100 ($92 per year)
USAA serves exclusively those with military ties. It offers a range of products tailored for those with a military background, offering discounts and coverages that suit the military lifestyle. While USAA does not rank first in affordability, with State Farm being cheaper at $92 annually, its specialized offerings make it worth considering for military families.
USAA ranks first in customer satisfaction and coverages in Oklahoma. Its annual premium is $141.
USAA offers personal property replacement cost and worldwide personal property coverages. Replacement cost coverage reimburses you for the full cost to replace lost or damaged items rather than their depreciated value, ensuring you can fully replace your belongings. Worldwide personal property coverage protects your belongings even when you are deployed or traveling, offering peace of mind no matter where you are stationed.
- Provides claims-free and military base or academy residence discounts
- Ranks first for customer satisfaction
- Ranks first for coverage options
- Exclusively serves those with military backgrounds
- Lacks cyber event/ID theft and scheduled personal property coverage
To determine the best renters insurance for military members in the state, MoneyGeek's scoring system prioritized customer satisfaction and affordability. Secondary factors, such as coverages and financial stability, were also assessed.
USAA | 100 | $ 141 |
State Farm | 96 | $ 92 |
Chubb | 94 | $ 149 |
Shelter | 87 | $ 92 |
American National | 83 | $ 150 |
Oklahoma Farm Bureau | 75 | $ 162 |
Foremost Insurance | 70 | $ 214 |
The Hanover | 52 | $ 431 |
Best Renters Insurance for Bad Credit in Oklahoma
Chubb is the best renters insurance company for people with poor credit in Oklahoma, with an annual premium of $262. The following providers are the top two best providers in Oklahoma for those with poor credit.
- Chubb: MoneyGeek score of 98 out of 100 ($262 per year)
- State Farm: MoneyGeek score of 96 out of 100 ($200 per year)
Rates for people with poor credit are often higher, because providers view them as higher risk. Poor credit can be associated with higher likelihoods of filing claims. However, you can take steps to improve your credit to lower your rates and take advantage of discounts where possible.
In Oklahoma, Chubb ranks first in affordability and customer satisfaction, offering an annual premium of $262. For renters with poor credit, Chubb provides rare discounts on contents replacement cost and rental car coverage.
Contents replacement cost covers the total cost to replace damaged items. Rental car insurance offers primary coverage for rental car expenses. These discounts can significantly reduce overall costs, making insurance more affordable for those with poor credit.
- Ranks first for claims handling
- Ranks first for coverage
MoneyGeek's best scoring system for finding the best renters insurance for those with poor credit in Oklahoma focused on customer satisfaction and affordability. Secondary factors considered include coverages and financial stability.
Chubb | 96 | $ 214 |
State Farm | 95 | $ 157 |
Shelter | 87 | $ 112 |
American National | 87 | $ 168 |
Oklahoma Farm Bureau | 79 | $ 211 |
Foremost Insurance | 76 | $ 306 |
The Hanover | 52 | $ 1,071 |
Average Cost of Renters Insurance in Oklahoma
The average cost of renters insurance in Oklahoma is $261 per year or $22 per month. This is approximately $116 more than the national average of $145 per year. These rates are for a policy with $20K in personal property coverage, $100K in liability coverage and a $1,000 deductible.
The cost of renters insurance in Oklahoma can vary significantly based on the amount of personal property coverage you choose. Use the tool below to get an estimate tailored to your needs.
Renters Insurance Calculator
MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
It's free to use, requires no personal information and we won't send you any spam.
Rates updated:
Dec 23, 2024
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Average Cost of Renters Insurance by City in Oklahoma
The average cost for renters insurance not only varies by state, but also varies by city. For instance, the average cost of renters insurance in Broken Arrow, Oklahoma is $176, while in Norman, Oklahoma, it is $190
These rates are based on a renters insurance policy with $20K personal property limits, $100K liability limits, a $1,000 deductible, and a good credit score. See the average cost in your city using the table below.
Broken Arrow | $ 176 |
Norman | $ 190 |
Oklahoma City | $ 186 |
Tulsa | $ 184 |
Renters in Oklahoma can save money on renters insurance by comparing quotes among providers. For $20K in personal property and a $1,000 deductible, Shelter offers the lowest annual premium at $92, while The Hanover's premium is $431. By shopping around, renters can save $339 annually or $28 monthly.
What Factors Impact Renters Insurance Costs in Oklahoma?
Multiple factors impact the cost of renters insurance in Oklahoma, including location, coverage amount, and the value of personal property. Understanding these factors is important because it helps renters make informed decisions and potentially save money.
- Location: The area where you live can affect your premium due to crime rates and weather-related risks.
- Coverage Amount: Opting for higher coverage limits will typically increase your insurance costs.
- Deductible: Choosing a higher deductible can lower your monthly premium, but you'll pay more out-of-pocket in case of a claim.
- Claims History: Renters with a history of claims may face higher premiums due to perceived risk.
- Credit Score: Insurance companies may use your credit score to determine your premium, with higher scores often leading to lower costs.
How Much Personal Property Coverage Do You Need?
Determining your personal property coverage as a renter starts with a thorough personal inventory of your belongings, along with their estimated value and proof of ownership. Here's how to create one:
- Start With Big-Ticket Items: List all high-value items first, such as electronics, jewelry and furniture, noting their make, model and serial numbers when available.
- Document With Photos or Videos: Take clear photographs or video recordings of your belongings, capturing any identifying marks or conditions.
- Include Receipts and Appraisals: Attach purchase receipts, warranty cards and appraisal documents for items of significant value.
- Store Information Securely: Keep your inventory list and supporting documents in a safe, accessible location, such as a cloud storage service.
- Update Regularly: Review and update your personal inventory annually or whenever you acquire or dispose of items.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Based on your inputs, MoneyGeek recommends getting a policy with in personal property coverage to avoid paying out of pocket after a disaster or theft.
What Renters Insurance Typically Covers in Oklahoma
Renters insurance primarily protects your personal belongings from damage, but it also extends to other areas such as liability and additional living expenses. Here's what a typical policy may cover:
- Personal Property Coverage: Safeguards your possessions against covered perils like theft to help you replace them.
- Personal Liability Coverage: Protects you from legal responsibility for injuries or damage to others, such as if a guest is injured in your rental unit.
- Loss of Use Coverage: For additional living expenses if your rental is uninhabitable due to a fire, for example, loss of use coverage can cover temporary housing costs.
Renters insurance typically applies to specific events, like theft, vandalism or specific natural disasters. Here's what most policies cover:
- Fire or lightning
- Windstorm or hail
- Explosions
- Riots
- Damage caused by aircraft
- Damage caused by vehicles
- Smoke damage
- Vandalism
- Theft
- Volcanic eruption
- Falling objects
- Weight of ice, snow or sleet
- Water-related damage from home utilities
- Electrical surge damage
What Renters Insurance Typically Doesn't Cover
Although renters insurance provides a safety net for your personal property and liability, it does not universally cover all losses. For instance, damage from floods typically falls outside standard policies. Here's what else is usually not included:
- Natural Disasters: Standard policies often exclude events like floods and earthquakes.
- High-Value Items: Expensive jewelry or electronics may exceed policy limits.
- Business Equipment: Items used for business purposes may require additional coverage.
- Roommate Property: Your policy does not cover your roommate's belongings.
- Pest Damage: Infestations and damage from pests are generally not covered.
- Car Theft: Personal vehicles are covered under auto insurance, not renters insurance.
Understanding these exclusions can help you seek additional coverage if necessary, ensuring you're protected against a wider range of potential risks.
FAQ: Renters Insurance in Oklahoma
Finding the best renters insurance in Iowa can be easy. We've answered some common questions to help you make an informed decision.
What is the cheapest renters insurance company in Oklahoma?
The cheapest renters insurance company in Oklahoma is Shelter, with an annual premium of $92, which breaks down to $8 per month.
What is the best renters insurance company in Oklahoma?
The best renters insurance company in Oklahoma is State Farm, with a MoneyGeek score of 96 and an annual premium of $92, which breaks down to $8 per month. For military members, veterans, and eligible family members, USAA is the best with an annual premium of $141.
How much does renters insurance cost in Oklahoma?
The average cost of renters insurance in Oklahoma is $184 annually, which breaks down to $15 per month. Premiums can range from $92 to $92 per year, depending on the provider.
Is renters insurance required in Oklahoma?
Renters insurance is not required by law in Oklahoma. However, your landlord may require you to purchase a policy. It may help to evaluate your needs and circumstances to determine whether buying a policy is right for you. Some reasons to get renters insurance include financial protection against common perils and liability costs of third-party injuries.
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.