Home and Auto Insurance in Oklahoma: What to Compare Before You Switch
Steven Conway
If you're insuring a home and two or more vehicles, a renewal increase can get your attention quickly. You can look for a better price and still be particular about the protection you keep.
Before switching home and auto insurance in Oklahoma, compare what the policies cover, what you could pay yourself after a loss, and the total cost for your household. Then coordinate the start and end dates so each old policy stays in place until its replacement takes effect.
Start with a fair price comparison
Put your current home and auto declarations pages and renewal offers beside each proposal. Declarations pages summarize coverages, limits, and deductibles; the policy forms and endorsements contain exclusions, conditions, and special terms.
Use the same accurate home, vehicle, and driver information for each proposal. Have the agent identify the meaningful differences from your current coverage. If a proposal lowers a limit or raises a deductible, you should be able to see that change and decide whether you're comfortable with it.
Compare total costs over the same period. Doubling a six-month auto premium can help you estimate an annual cost, but the next renewal price may change. Include installment fees and any price differences for paying in full or using automatic bank payments.
Find out who you'll contact to add a vehicle, change coverage, or report a claim. That is part of what you're buying, too.
Compare the home coverage in three parts
The amount to rebuild
The dwelling limit on your homeowners insurance should reflect the estimated cost to rebuild your home. Your purchase price, market value, and mortgage balance measure different things. Make sure the rebuilding estimate uses accurate details about your home's size, construction, and improvements.
The roof's coverage and settlement terms
For each proposal, get clear answers to three questions: Is wind or hail damage covered? How would covered roof damage be valued? Which deductible applies?
Two settlement terms deserve a closer look:
- Replacement cost generally values covered repairs or replacement using comparable materials, without deducting depreciation. Policy limits and conditions apply, and full replacement-cost payment may require completing repairs or replacement.
- Actual cash value accounts for depreciation from age and wear, which can leave more of the repair or replacement expense for you to pay.
A policy can provide replacement cost on the house while applying actual cash value or other limitations to the roof. Review how roof age affects the terms and whether cosmetic-damage restrictions apply, such as for dents that do not affect the roof's function.
Coverage beyond the house itself
Give these protections their own place in the comparison:
- Belongings and detached structures: Compare limits and how covered property damage would be valued.
- Temporary living expenses: Review dollar and time limits for additional living expenses when covered damage makes your home unlivable.
- Personal liability: Compare limits for covered injuries or property damage to others for which you're legally responsible.
Also ask whether water backup coverage is included. Review ordinance or law coverage, which can help with certain required building-code upgrades after covered damage. The applicable limits, deductibles, and conditions matter.
Standard homeowners policies generally exclude flood and earthquake damage. Those coverage needs deserve a separate discussion.
How much is a percentage wind and hail deductible?
Two percent looks small on the page. On a home insurance policy, it deserves a calculator.
Some Oklahoma homeowners policies calculate the wind/hail deductible as a percentage of the dwelling coverage amount. It may differ from the deductible for other covered losses.
Hypothetical example: Both proposals insure the dwelling for $400,000 and calculate the wind/hail deductible from that amount.
| Item | Proposal A | Proposal B |
|---|---|---|
| Dwelling coverage | $400,000 | $400,000 |
| Wind/hail deductible | 2% | 3% |
| Deductible in dollars | $8,000 | $12,000 |
That is a $4,000 difference in the deductible. The percentage in this example applies to the insured dwelling amount, not the repair bill.
Put that difference beside the premium difference. A higher deductible may be a reasonable choice if you understand the amount and could manage it after a covered loss.
These figures illustrate deductible amounts only; they are not available offers or predictions of a claim payment.
Review the auto coverage for every driver and vehicle
"Full coverage" is not a precise description of an auto insurance policy. The individual coverages and limits tell you much more.
Liability: This addresses covered injuries and property damage to others for which you're legally responsible. Compare bodily injury and property damage limits, including any per-person and per-accident limits. Consider whether those amounts fit your household's financial circumstances.
Uninsured/underinsured motorist bodily injury: In Oklahoma, this coverage can help with covered injuries caused by an at-fault driver with no insurance or insufficient liability insurance. It does not pay to repair your vehicle. Review the limits and any selection or rejection carefully. The Oklahoma Insurance Department's UM guidance explains the distinction.
Comprehensive and collision: Collision generally addresses covered crash damage to your vehicle. Comprehensive generally addresses covered losses such as hail, theft, and fire. Review each vehicle's coverages and deductibles separately; a newer financed vehicle and an older paid-off vehicle may call for different decisions.
Medical payments, rental reimbursement, and roadside assistance: Medical payments coverage can help with covered accident-related medical expenses. For rental reimbursement, confirm which covered losses qualify, the daily allowance, and the maximum payment or duration. Check whether roadside assistance is included and what limits apply.
Check whether bundling fits your household
Bundling home and auto may bring a multi-policy discount and make the policies easier to manage. It does not guarantee the lowest combined price or the coverage that fits you best.
Compare the actual costs and coverage of suitable bundled and separate-policy options where available. If moving one policy would remove a discount from the other, include that price change in your total. Discounts and eligibility vary.
Make sure the proposals match your life today
Tell your agent about household drivers, newly licensed teens, students away at school, and anyone who regularly uses your vehicles. Confirm vehicle ownership, where each vehicle is normally kept, and how it is used, including delivery or rideshare work.
For the home, mention renovations, a new roof, a home business, rental use, or a planned change in occupancy. Accurate information helps the insurer evaluate the risk and proposed terms.
Include any existing umbrella insurance in the review. An umbrella can add liability protection, subject to its terms. Confirm that the replacement home and auto policies meet its requirements for underlying coverage and liability limits. If you don't have an umbrella, discuss whether one would make sense for your household.
When should you cancel your current policies?
Keep each current policy until its replacement coverage takes effect. A proposal alone does not put insurance in place.
Once you've chosen an option:
- Confirm the new coverage. Get written confirmation from the insurer or an agent authorized to bind the coverage that each replacement policy is bound—put in place for its agreed effective date and time. Have that date and time stated in the confirmation.
- Coordinate each cancellation. Each old policy should end no earlier than its corresponding replacement takes effect. Home and auto may need separate timelines. Ask about cancellation charges and how any return premium would be calculated.
- Coordinate lender information and billing. Confirm mortgage-company and vehicle-lender details, and discuss escrow billing changes with the mortgage servicer.
When the issued policy documents arrive, review the declarations, forms, and endorsements for unexpected differences from the coverage you selected. Promptly raise any questions.
The Oklahoma Insurance Department's home insurance buying guide offers additional guidance on comparing policies and keeping existing coverage until new coverage is effective.
Let's compare your home and auto options
Have your current home and auto declarations pages and renewal dates handy. Tell us what you want to improve—price, coverage, or both. As an independent agency, Conway Insurance, LLC can help you review available options and understand the differences so you can decide what fits your household.
We serve customers throughout Oklahoma, including the Greater Oklahoma City area, with offices in Midwest City and Edmond.
Request a Home and Auto Insurance Proposal
Call or text our Midwest City / Main Office at 405-733-2886, or email info@conwayinsuranceok.com to get started.
Coverage descriptions are general. The policy, endorsements, limits, deductibles, and exclusions determine how coverage applies. Availability and pricing are subject to underwriting.