Are Oklahoma home insurance rates among the highest in the nation?

Multiple sources consistently rank home insurance rates in Oklahoma as among the six most expensive, paying almost double the national average for $300,000 in dwelling coverage, according to a 2025 Bankrate report.

Comparing the percentage of household income spent on homeowners insurance, Oklahoma’s 6.84% is significantly higher than both the averages of its neighboring states and the national average of 2.41%.

Despite Oklahoma Insurance Department Commissioner Glen Mulready’s claim that the state’s frequent hailstorms explain higher rates, an Oklahoma Watch investigation found the frequency of such weather events was not significantly different in neighboring states.

Others cite the OID’s laissez-faire approach to regulation. An Oklahoma statute has been taken to mean that the OID has no authority to challenge rates, though lawmakers have recently held studies to consider statutory revisions.