Norman ,OK Home Insurance - The cost of homeowners insurance is influenced by a range of factors, including the value of your coverage, deductible, and the construction materials used in your home.
VHome Insurance conducted a thorough analysis of the Norman, OK homeowners insurance market, taking into account factors like average costs, range of coverages, deductibles and customer satisfaction ratings to determine the best providers. The Average home insurance cost in Norman, OK is $2704. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Norman, OK. VHome Insurance will help you navigate the world of homeowners insurance coverages in Norman, OK.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $1,082 |
| $200,000 | $1,839 |
| $300,000 | $2,271 |
| $400,000 | $3,461 |
| $500,000 | $4,353 |
Home insurance costs in Norman can vary greatly based on location. The frequency of claims in your area can affect the cost of your policy. Simply put, the location of your home can significantly impact your homeowners insurance premium.
| Zipcode | Average Insurance Premium |
|---|---|
| 073072 | $3,665 |
| 73026 | $3,612 |
| 73071 | $3,499 |
| 73069 | $3,494 |
One key aspect of your policy is the deductible, which is the amount you pay out of pocket before your insurance kicks in. Choosing the right deductible can have a major impact on your insurance premiums and overall savings. In this guide, we'll help you understand the options available for homeowners insurance deductibles in Norman, OK, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $2,772 |
| $1000 Deductible | $2,480 |
| $1500 Deductible | $2,339 |
| $2500 Deductible | $2,109 |
| $5000 Deductible | $1,785 |
| Home Insurance Company Near Norman, OK | Homeowners Insurance Agency Near Norman, OK | Address |
|---|---|---|
| NA | J And L Insurance Agency | 125 S Main St, Lindsay, OK, 73052 |
| Farmers | Dale Mogseth | 36 SW 104th St, Oklahoma City, OK, 73139 |
| Allstate | Maria Lucia Lopez | 3523 NW 36th St, Oklahoma City, OK, 73112 |
| State Farm | Paul Garetson | 9020 S Sooner Rd, Oklahoma City, OK, 73165-9657 |
| Liberty Mutual Independent | Webb Young & Webb Inc | 3007 Nw 63 St #130 Oklahoma City, Oklahoma City, OK, 73116 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Cleveland County, Oklahoma | $223 | $297 | $446 |
| North Cleveland CCD, Cleveland County, Oklahoma | $222 | $296 | $444 |
| Noble CCD, Cleveland County, Oklahoma | $217 | $289 | $434 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Norman, OK | 9.6% | 29.0% |
| Cleveland County | 9.64% | 29.14% |
| North Cleveland | 9.48% | 27.9% |
| Noble | 11.2% | 34.21% |
| Norman Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| Less than $200 | 188 | 1.0% | $359 |
| $200 to $299 | 207 | 1.0% | $809 |
| $300 to $499 | 1,464 | 8.0% | $1259 |
| $500 to $749 | 7,026 | 39.0% | $1934 |
| $750 to $999 | 4,662 | 26.0% | $2684 |
| $1,000 to $1,499 | 3,227 | 18.0% | $3809 |
| $1,500 or more | 850 | 4.0% | $5459 |
| Streets in Norman Area | Homeowners Insurance Cost |
|---|---|
| SE 254th St, Red Bud Dr, 136th Pl NE, 124th St S E, 180th St, Queenston Ave, Libby Lou Ln, Keith St, F St, Trophy Dr | $1,433 |
| Resh Ct, S Dobbs Rd, Vine St, Tecumseh Rd, W Brooks St, Tiffin Ave, 144th Ave SE, Chamberlyne Way, 144 Ave SE, Aniol Ave | $1,414 |
| Fairfield Dr, Windjammer St, Ross Dr, Peaceful Oaks Ln, Chaparral Rd, Lorings Rd, Eden Ct, Charing Cross Ct, Pinafore Dr, Betty Ln | $1,429 |
| 36th Ave NE, Gullane Dr, Columbus St, 88th Ave NE, Atwood Dr, Greystone Ln, W Dale St, Bishops Dr, Ridge Lake Blvd, Shiloh Dr | $1,566 |
| Apache St, Lilly Ln, Camino Real Dr, Winding Oaks Ln, S Porter Ave, E Franklin Rd, Smith St, S Cook Ave, Division St, I St | $1,508 |
| Clearwater Dr, Cabin Rd, Wichita Dr, E Hughbert St, Dalewood Pl, W Franklin Rd, 82nd Ave SE, Louise Ln, 48th Ave SW, Oakridge Dr | $1,500 |
| 173rd St, E Gray St, 120th St, NW 72nd St, Pullin Ln, Brandywine Ln, Journey Pkwy, Brunswick Ln, Justin Dr, SW 44th St | $1,565 |
| Applewood Ln, Woodland Oaks Ct, Edge of the Earth Rd, Pathway Cir, Springlake Dr, Tara Ln, Bert Ln, Pheasant Run Ct, N Flood Ave, Angel Ter | $1,435 |
| Ballard Dr, Andrea St, Oakmeadows Dr, Chapel St, Avon Dr, Wellman Dr, Timbervalley Rd, Reginald Dr, Dogwood Dr, Jefferson St | $1,563 |
| Reed Ave, 72nd Ave NW, Askew St, W Tecumseh Rd, Mystic Isle, Riverwalk Dr, E Tecumseh Rd, Box Rd, Waterfront Dr, Cove Hollow Ct | $1,566 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Norman | $223 to $225 |
| Cleveland County | $222 |
| Noble | $216 |
| East Cleveland | $219 |
| Home value ($) | Construction type | Company | premium ($) |
|---|---|---|---|
| 50,000 to 70000 | Masonry | Allstate Indemnity Co. | 1,382 |
| 70,000 to 100000 | FRAME | American Farmers & Ranchers Mutual Ins. Co. | 1,091 |
| 100,000 to 150000 | FRAME | American National Property & Casualty Co. | 3,437 |
| 70,000 to 100000 | Masonry | American National Property & Casualty Co. | 2,792 |
| 70,000 to 100000 | FRAME | Allstate Prop & Cas Ins Co | 2,961 |
| 50,000 to 70000 | Frame | Hanover Inusurance Co. | 1,952 |
| 150,000 to 200000 | Masonry | Liberty Insurance Corp. | 2,620 |
| 100,000 to 150000 | Masonry | Oklahoma Farm Bureau Mutual Insurance Co. | 3,065 |
| 100,000 to 150000 | Masonry | United Services Automobile Association | 1,698 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,000 | $2,000 |
| Yearly Norman Homeowner Insurance Premium Example | $4,500 | $4,000 |
| Out of Pocket Expense During Claim | $1,000 | $2,000 |
| Total Home Insurance Premium for 5 years + Out of Pocket Expense for Claim | $23,500 | $22,000 |
| Net Savings to Norman Home Owner from High Deductible Plan | $1,500 | |
| Scenario | Norman, OK Home Replacement Value MORE than Home Value | Norman, OK Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $192,500 | $105,000 |
| Insurance Premium based on Replacement Value | $6,200 | $3,375 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $43,000 | Risk Exposure from Under Insuring Coverage is $44,500 |
| Premium Impact | Insurance cheaper by $1,425/year | Insurance costlier by $1,400/year |
| Insurance Company | Nationwide Insurance | Farmers Insurance | Chubb Group of Insurance |
| Monthly Premium | 554 | 540 | 479 |
| Year Built | 2003 | 1974 | 1996 |
| Home Details | 5 Beds, 4 Baths | 3 Beds, 2 Baths | 4 Beds, 2 Baths |
| Coverage Amount | $175000-$200000 | $175000-$200000 | $175000-$200000 |
| Deductible | $500 Deductible | $1000-$2500 Deductible | $1000-$2500 Deductible |