Cheapest & Best Renters Insurance In Tulsa 2025

Chubb offers the lowest-priced renters insurance in Tulsa, with an average monthly cost of about $11. However, if you prioritize top-tier online and mobile services, Lemonade stands out as the best provider. While its rates are higher—around $19 per month—it offers comprehensive coverage.

Known as the “Oil Capital of the World,” Tulsa experiences over 16,000 property crimes annually, impacting roughly 39 out of every 1,000 residents. This crime rate is higher than in many other U.S. cities. Given these figures, renters insurance is a smart choice, protecting your belongings while offering financial security and peace of mind.

Cheapest Renters Insurance Companies In Tulsa

If you’re searching for budget-friendly renters insurance in Tulsa, Chubb offers the lowest rates, with an average cost of around $11 per month. To help you compare your options, the table below lists the five most affordable providers.

Best Renters Insurance Companies In Tulsa

Chubb is a reliable option for renters seeking to minimize insurance costs, but the lowest price doesn’t always offer the best coverage. Personally, I believe Lemonade is the top choice for renters insurance in Tulsa. Their mobile app is one of the best available, making it easy to select the right coverage for your needs directly from your phone, all at reasonable rates. Additionally, they offer a variety of policies and extra coverage options, such as replacement cost coverage.

Average Cost Of Renters Insurance In Tulsa

Renters in Tulsa typically pay around $24 per month or $288 per year for insurance. However, your actual cost may differ depending on factors like coverage limits, location, deductible, and the insurer’s pricing model. The table below compares the average rates from five leading providers in the area.

Average Cost By Deductible

A deductible is the amount you must pay out of pocket before your renters insurance starts covering a claim. Opting for a higher deductible can reduce your monthly premium, while a lower deductible increases your monthly cost. The table below shows the average renters insurance rates in Tulsa based on different deductible amounts.

Factors That Impact Renters Insurance Costs In Tulsa

Several factors affect the cost of renters insurance in Tulsa:

Location: Renters in areas with higher crime rates or greater risks of natural disasters, such as tornadoes and floods, typically face higher premiums.

Claim History: If you’ve made multiple claims in the past, insurers may view you as a higher risk, leading to increased rates.

Credit Score: Many insurers consider credit scores when determining premiums, with lower scores often resulting in higher costs.

Coverage Limits: Policies that include higher personal property and liability coverage, as well as add-ons like identity theft protection or replacement cost coverage, usually come at a higher price.

Deductible Amount: A higher deductible lowers your monthly premium, while a lower deductible increases it since the insurer assumes more risk.

Home Safety Features: Installing security systems, smoke detectors, or sprinkler systems can help reduce risk and potentially lower your insurance costs.

What Does Renters Insurance Cover In Tulsa?

Renters insurance offers valuable financial protection by covering various risks. Here are the key coverages included in most policies:

Personal Property Protection

Covers your belongings, such as electronics, clothing, and furniture, against risks like theft, fire, and certain types of water damage (excluding floods).

Liability Coverage

Helps cover legal fees and medical costs if you’re responsible for someone’s injury or property damage.

Medical Payments to Others

Provides limited coverage for medical expenses if a guest is injured in your rental, regardless of who is at fault.

Additional Living Expenses (ALE)

Pays for temporary housing, meals, and other necessary costs if your rental becomes uninhabitable due to a covered event.

What Does Renters Insurance Not Cover In Tulsa?

While renters insurance provides essential coverage, it also has exclusions and limitations. Here are some common risks that standard policies typically don’t cover:

Car Theft or Damage

Renters insurance doesn’t apply to personal vehicles. You’ll need auto insurance for coverage.

Earthquakes

Standard policies don’t cover earthquake damage. A separate earthquake policy is required for protection.

Flooding

Flood damage isn’t included in renters insurance. Since Tulsa is prone to flooding, you’ll need separate flood insurance or an add-on for coverage.

High-Value Items Over Policy Limits

Expensive belongings, such as artwork, collectibles, or jewelry, may exceed standard coverage limits. A policy rider can provide additional protection.

Business-Related Losses

If you run a business from your rental, standard policies won’t cover business equipment or liabilities unless you add business coverage.

Intentional Damage

Any damage deliberately caused by you or someone in your household won’t be covered.

Pest Infestations

Damage caused by bedbugs, termites, or rodents is considered a maintenance issue and isn’t covered.

How Much Should Students Pay For Renters Insurance In Tulsa?

In Tulsa, students can expect to pay between $15 and $30 per month for renters insurance, depending on factors like coverage needs, apartment location, and optional add-ons.

Off-campus students often face higher premiums since they typically live in larger spaces with increased risk exposure. On the other hand, those in college dorms usually pay lower rates, as shared housing tends to have reduced insurance costs.

Before choosing a policy, it’s important to assess the value of personal belongings. While standard renters insurance covers most items, students with high-value possessions like expensive electronics or bicycles may need additional coverage. Some insurers also offer discounts for bundling renters and auto insurance, which can help lower overall expenses.

How Much Renters Insurance Do I Need In Tulsa?

Selecting the right renters insurance in Tulsa begins with evaluating the value of your personal belongings. Standard policies typically offer coverage between $20,000 and $40,000, which is sufficient for most renters. However, if you own expensive electronics, jewelry, or high-end furniture, you may need extra protection.

Liability coverage is another important factor. Most basic policies provide $100,000 in liability protection to cover legal and medical expenses if someone is injured in your rental. Choosing a higher limit can offer additional financial security.

It’s also essential to consider Additional Living Expenses (ALE) coverage. If a covered incident forces you to move out temporarily, ALE helps pay for housing, meals, and other necessary costs.

Finally, your deductible plays a role in both your premium and out-of-pocket expenses. A higher deductible reduces your monthly payments but increases the amount you’ll need to pay before your coverage kicks in.

Can Landlords In Oklahoma Require Renters Insurance?

Renters insurance isn’t legally required in Oklahoma, but many landlords include it as a lease condition. This benefits both parties—tenants get coverage for their belongings, while landlords minimize their liability risks.

If your lease mandates renters insurance, you may need to provide proof of coverage, such as a policy declaration page or a certificate of insurance. Some landlords also require minimum coverage limits, often at least $100,000 in liability protection. Failing to meet these requirements could lead to penalties or even lease termination.

Even when not required, renters insurance is a wise investment—especially in Tulsa, where property crime rates are above average and natural hazards like storms and tornadoes present significant risks. A policy helps protect your belongings and provides financial security against unexpected liability claims.

Bundle Renters With Auto Insurance

Bundling renters and auto insurance is a smart way to save money, as many insurers offer discounts for combining policies. These discounts typically reduce renters insurance premiums by 6% to 7%, while also helping insurers build long-term customer relationships. Oklahoma Farm Bureau is known for offering some of the best bundling rates in Tulsa.

This option is particularly advantageous for renters who already have auto insurance. Keeping both policies with the same provider makes managing them easier, improves customer service, and may come with added benefits like flexible payment plans or higher coverage limits.

However, before bundling, it’s important to compare different options. While combining policies can lead to savings, be sure both provide adequate coverage at a fair price.

Common Causes Of Loss In Oklahoma

Renters in Oklahoma face several risks, including theft, fires, tornadoes, floods, and water damage. Understanding these hazards can help tenants choose the right insurance policy to protect their belongings and finances.

Property Crime & Theft

With over 16,000 property crimes reported annually in Tulsa and more than 88,000 statewide, renters insurance is essential. It helps replace stolen items and may also provide liability coverage if someone is injured during a break-in.

Flood Risks

Flooding is a recurring issue in Tulsa, especially after heavy storms and rainfall due to its location along the Arkansas River. Since standard renters insurance doesn’t cover flood damage, tenants should consider purchasing a separate flood insurance policy for full protection.

Tornadoes & Severe Storms

Tulsa, located in Tornado Alley, frequently experiences tornadoes and strong storms that can cause extensive damage. Most standard renters insurance policies cover losses from high winds and severe weather, helping tenants recover from storm-related damage.

Fire Hazards

Fires can spread quickly in multi-unit buildings, causing significant losses. Renters insurance helps cover the cost of replacing personal belongings damaged by fire. Given Tulsa’s frequent fire incidents, having coverage is a smart decision.

Water Damage

Plumbing leaks, burst pipes, or roof damage can lead to expensive repairs. Renters insurance generally covers water damage inside the unit, but flood-related damage requires separate coverage.

Additional Protection

Renters insurance may also cover vandalism, accidental damage, and certain natural disasters, offering extra security and peace of mind.

By understanding these risks, renters can select an insurance policy that provides the best financial protection for their specific needs.