Stillwater, OK Home Insurance
Stillwater home insurance protects your property in Oklahoma, shielding one of your most valuable assets.
Located right in the middle of northern Oklahoma, Stillwater serves as an educational and economic center of the state. It's home to three higher education institutions and many tech businesses, particularly in the software, biotech and aerospace sectors. Many people move to Stillwater because it's about 60 miles from both Tulsa and Oklahoma City, offering easy urban access in a peaceful setting with around 45,000 residents.
Stillwater's median home price is about $210,000. according to Sperling's Best Places. That's a 38% decrease from the national median home cost of just over $338,000. At the same time, home values have increased more than 70% in the past 10 years, one sign that Stillwater property is a smart investment.
Stillwater is a safe place to live with a lower-than-average rate of all types of crimes, including burglary and other property offenses. The city even has a program that offers $5,000 down-payment grants to first-time homebuyers, making property more affordable for residents.
Stillwater's location in the so-called Tornado Alley may worry local homeowners. This part of the country has an elevated risk of tornadoes, so purchasing insurance covering wind damage is important. Your home may also be vulnerable to hail damage since ice storms commonly impact this region. When you shop for Stillwater home insurance, you should review quotes carefully to ensure you have the necessary coverage for these concerns. Some companies require policy riders for wind and hail damage.
Oklahoma residents pay some of the highest homeowner's insurance rates in the country. MarketWatch reports that Stillwater home insurance averages $6,673 per year. 276% higher than the national average of $2,417. City residents pay about 12.5% more than the Oklahoma average of $5,839. The state's high risk of tornadoes and other severe weather events accounts for its significantly elevated home insurance premiums.
In addition to the risk of weather-related claims, various factors affect the cost of home insurance in Stillwater. Quotes vary from one company to the next based on your credit, the size of your home, the age of your home, the type of construction, the exact geographic location, the crime rate in your neighborhood and many other data points. VIU by HUB can help you find the right policy for your needs by offering fast quotes from multiple providers.
Oklahoma doesn't mandate homeowner's insurance, but you have to follow the guidelines in your loan documents if you have a mortgage. Most home loan companies stipulate a minimum amount of liability and dwelling coverage. Dwelling insurance pays to repair or replace your home and its contents if you have a covered event like a fire or theft. Liability insurance covers medical and legal costs if someone outside the family becomes injured at your home.
Review the exclusions carefully before deciding on a Stillwater home policy. Most standard policies do not pay for damage related to war, nuclear events, identity theft, home businesses, water back-up, earthquakes or floods. You can buy additional coverage in the form of policy riders to address specific concerns.
VIU by HUB makes comparing rates for a comprehensive Stillwater home insurance policy easy. Get personalized quotes in minutes to see where you stand and make an informed decision.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
