Homeowners Insurance in Bixby, OK

The rapidly growing city of Bixby, Oklahoma is home to more than 28,000 people. Whether you have recently settled here or are a lifelong resident of this Tulsa suburb, you can benefit from having a good homeowners insurance policy if you own a house in Bixby.

If you are looking for suitable coverage for your Bixby home, a local independent agent can help. These agents work with several of the area’s top insurance companies to find you the best and most affordable policy. Contact an independent insurance agent near you to learn more.

What Is Homeowners Insurance, and Is It Required in Bixby?

Homeowners insurance is a policy that is designed to protect the investment you have made in your house and personal property.

If you are still paying on your mortgage or have taken out a home equity loan or line of credit, your lender will likely require you to carry homeowners coverage for the duration of your loan. Otherwise, homeowners insurance is optional but highly recommended.

How Much Does Homeowners Insurance Cost in Bixby, OK?

The average homeowners insurance rate in Oklahoma is much higher than the national average. This is due in no small part to the increased risk of tornado and wildfire activity in this state.

• National average yearly premium: $1,211
• Oklahoma average yearly premium: $1,885
• Bixby average yearly premium: $1,473

Of course, an average rate can only give you an idea of what you might be expected to pay. Home insurance companies will base their rates on several factors such as: 

• The year your house was built, its size in square feet, and the materials used in its construction
• The crime, weather, and wildfire risks where your house is located
• Your home’s distance from the nearest fire station
• Your insurance claims history and credit score
• The size of your deductible

Every insurance company has its method for calculating rates. Reviewing various customized homeowners insurance quotes lets you choose the policy that offers the coverage you want at the most affordable price. Comparison shopping has the potential to save you hundreds of dollars a year.

If you bundle your homeowners insurance with another policy like car insurance or motorcycle insurance, you may be able to earn valuable discounts on all of your bundled policies. Learn more about this and other potential home insurance discounts by talking to an independent insurance agent.

Where Can I Find Cheap Homeowners Insurance in Bixby, OK?

Naturally, nobody wants to spend more on their homeowners insurance than they have to, but that does not necessarily mean that the cheapest policy is the most cost-effective one. If you skimp on your coverage to save a few dollars a month now, you may find yourself spending a lot more in the long run.

A high-deductible, limited-coverage policy may be the least expensive option. Still, it can leave you needing to come up with thousands of dollars if your home is seriously damaged in a catastrophic event. This is far more money than you would need to spend if you had a solid, comprehensive policy.

Independent agents can help you find the policy that offers the best value for your hard-earned money.

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What Does Homeowners Insurance Cover in Bixby, OK?

Your homeowners insurance policy protects you from significant financial losses when disaster strikes. It does this in three specific ways. It can cover against:

• Property loss or damage
• Displacement
• Liability lawsuits

Coverage for your Property

Your home insurance covers you against damage caused by most of the risks you are likely to face as a homeowner in central Oklahoma. It can help pay to repair damage to the structure of your home with dwelling coverage and replace any damaged personal property with contents coverage.

Covered hazards that can impact property owners in Bixby include:

• Property crimes: This includes crimes like burglary and vandalism.
• Fires: This includes damage caused by accidental fires, wildfires, explosions, smoke, and firefighting efforts.
• Falling objects: This includes hazards like hailstones, fallen branches, and uprooted trees.
• Water damage: This includes water damage caused by leaky roofs, damaged windows, and frozen pipes. This coverage does not include damage caused by floods.
• Severe weather: This includes weather events like thunderstorms, windstorms, tornadoes, derechos, and winter storms.

You will want to make sure that your coverage limits are high enough to enable you to fully rebuild your house and replace all of your personal property if a catastrophic event like a tornado destroys your home.

Coverage against Displacement

Bixby has a very high risk for wildfire and tornado activity. Every home in Bixby has a risk of sustaining wildfire damage over the next 30 years, and an average of three tornadoes touch down in the Bixby area every year.

Catastrophes like fires and tornadoes can do more than destroy your property. They can also render your house inhabitable until repairs are made, leaving you homeless. If this happens, loss of use insurance, which is included in every homeowners insurance policy, can help.

If you are forced to seek alternate accommodations due to damage caused by a covered event, your loss of use insurance can cover many of your extra living expenses like:

• A hotel, temporary rental, or other reasonable accommodations
• Meals, if your accommodations do not include a kitchen
• Moving costs and temporary storage fees
• Mileage reimbursement if you must drive further to get to work
• Pet boarding, if needed

Your loss of use coverage can continue to provide compensation until your house has been repaired and is safe to move back into or until you have purchased or built a replacement home.

Coverage against Liability Lawsuits

Anyone can find themselves on the wrong end of a liability lawsuit. All it takes is just one mistake or error in judgment, and you could cause someone serious harm.

Fortunately, in addition to covering your house and property, your homeowners insurance provides you with a significant amount of personal liability protection.

Homeowners liability insurance can cover expenses like court costs, legal fees, mediation costs, settlements, and judgments if you or someone in your household unintentionally cause someone else to experience significant injuries, property damage, financial loss, or other harm.

Home insurance policies typically provide liability protection between $250,000 and $500,000. If you want even more coverage than your home insurance offers, you can also purchase an umbrella insurance policy. This is an affordable way to significantly boost all of your personal liability coverage.

Do Residents of Bixby, OK Need Flood Insurance?

Homeowners insurance covers a lot of hazards, but it does not cover damage caused by floods. Given that FEMA estimates that just one inch of rainwater in your home can generate as much as $25,000 in property damage, this can leave some homeowners vulnerable.

The good news is that only about 3% of properties in the Bixby area have a significant risk of sustaining flood damage in the next thirty years. If your home is among them, you may want to think about purchasing flood insurance.

A local independent agent can help you review flood maps to determine your property’s risk of flooding. Then, if needed, your agent can help you secure affordable coverage through the National Flood Insurance Program (NFIP), a program administered by FEMA.

Is There a High Risk of Burglary in Bixby, OK?

The burglary rate in Oklahoma is almost double the national rate. However, in Bixby, the rate is lower. This is not to say the risk does not exist. Residents of this city report around 75 burglaries a year.

• Number of burglaries per 1,000 residents in the US: 3.76
• Number of burglaries per 1,000 residents in Oklahoma: 6.81
• Number of burglaries per 1,000 residents in Bixby: 2.54

If you discover your home has been burglarized, you should first ensure that you and your family are safe and then call the authorities.

It is very stressful to be the victim of a property crime, but it may give you a measure of comfort to know that your home insurance can reimburse you for your lost property and any damage the burglar caused to your house.

You will need to have a copy of the police report when you file your claim. If you purchased your coverage through an independent agent, your agent can assist you throughout the claims process.

What Are the Best Homeowners Insurance Companies in Bixby, Oklahoma?

The most highly rated insurance companies are the ones that have consistently proven themselves in terms of reliability, responsive customer service, rapid claims processing, and competitive rates.

Independent agents in Bixby have teamed up with some of the best homeowners insurance companies in Oklahoma, so they can help their clients find suitable yet affordable coverage.

How Can a Local Independent Agent Help Find the Best Homeowners Insurance in Bixby, OK?

Independent insurance agents make it easy to find the best and most affordable homeowners insurance policy. These agents can answer your insurance-related questions and do the comparison shopping legwork for you. This saves you time and money when you are looking for the right coverage.

If you are ready to get help finding the best and most affordable homeowners insurance policy in Bixby, arrange an obligation-free consultation with an independent insurance agent near you.