A LendingTree report ranks Oklahoma first in the nation for homeowners’ insurance costs, adding fresh urgency to an insurance commissioner runoff already centered on affordability and oversight of the state’s insurance market.
OKLAHOMA CITY – Oklahoma homeowners pay more to insure their homes than residents of any other state, according to a new national report that arrives as Republicans prepare to choose the state’s next insurance commissioner amid growing concerns about affordability and oversight of the insurance market.
The average annual homeowner insurance premium in Oklahoma is $5,298, or about $441 per month, according to a report released this month by LendingTree. The figure is 121.2% above the national average of $2,395 and ranks Oklahoma first in the nation, ahead of Nebraska, where the average premium is $4,956, and Colorado, where homeowners pay an average of $4,310 annually.
The report found that Oklahoma is the only state where average premiums exceed twice the national average.
The findings come as Republicans prepare to choose their nominee for insurance commissioner in an Aug. 25 runoff between former state Sen. Marty Quinn, R-Claremore, and insurance and risk management professional Bob Sullivan.
Both candidates have argued that Oklahoma needs more competition in its insurance market, but they have emphasized different approaches to addressing affordability concerns.
Quinn has pointed to severe weather losses, rising construction costs and abuses in the claims process as major drivers of increasing premiums while arguing that attracting additional insurers would help lower costs.
Sullivan has focused on transparency, consumer protections and increased scrutiny of insurers and rate increases, saying Oklahoma families are experiencing “insurance rate shock” and deserve answers.
Insurance affordability has also become the subject of growing political scrutiny in recent months. Attorney General Gentner Drummond recently criticized Insurance Commissioner Glen Mulready for delaying a comprehensive review of Oklahoma’s property insurance market amid persistent concerns over rising premiums and affordability.
According to LendingTree, home insurance costs nationally have increased 46.8% cumulatively since 2020, driven largely by severe weather losses and sharply rising construction and repair costs. Annual increases accelerated beginning in 2022 and peaked with a 12.7% increase in 2024 before moderating somewhat in 2025.
The report points to severe weather exposure as a major factor behind Oklahoma’s ranking. States across the nation’s midsection, including Oklahoma, Nebraska, Kansas and Texas all rank among the country’s most expensive markets because of heightened exposure to tornadoes, hail and severe storms that can produce widespread and costly claims.
In an earlier interview with OKPoliticsToday, Quinn described affordability as one of the industry’s biggest challenges, noting that wind and hail claims account for an estimated 70% of losses and arguing that Oklahoma needs more companies writing homeowners policies to increase competition and drive prices lower.
Sullivan, who has nearly two decades of experience in property and casualty insurance and risk management, has called for a comprehensive review of Oklahoma’s insurance market and greater transparency regarding the factors driving premium increases, arguing that homeowners deserve clearer answers from both insurers and regulators.
The report’s findings also underscore the stakes in this year’s race for insurance commissioner, the statewide office responsible for regulating insurers, reviewing rate filings and overseeing consumer protection efforts in the insurance market.
The LendingTree report underscores the challenge awaiting Oklahoma’s next insurance commissioner: finding ways to address affordability concerns in a state where homeowners continue to pay the highest insurance premiums in the nation.
Read the full report: LendingTree’s State of Home Insurance Report
