What's the cost?

Let's address those insurance pricing questions other agents are avoiding

How much does commercial and personal insurance cost? We're glad you asked!

What type of insurance are you interested in?

So how much does personal insurance cost?

At Oklahoma Insurance Group, we prioritize honesty and education. We want to provide transparent answers to all of our clients’ questions so they can feel confident about their insurance.

But some of these questions aren’t so easy to answer. One of those is “How much does insurance cost?”

You see, nothing about insurance is straightforward. Every policy is so complex, with unique factors determining the price.

However, we’re going to do our best to explain to you how insurance pricing works, so hopefully you can have an idea of what to expect (and how to save) before you get a policy (or several).

Get a Quote

Is paying for more coverage worth it?

The number of policies you need and the amount of coverage under each policy will be unique to you. Each of these policies will have designated coverage limits and optional coverages catered to your needs. Sometimes this may mean paying more for more protection, other times it may be foregoing coverage based on your situation and comfort level.

Factors that influence pricing

In addition to the types of insurance and coverage amounts you need, things like location, age, profession, details about possessions you’re insuring, driving record, discount eligibility, and more could affect your personal insurance costs.

Ways to save

Fortunately, personal insurance offers several opportunities to save. Some include bundling your policies, increasing your deductible, paying through EFT/ACH, switching to paperless billing, removing optional coverages you don’t need, or asking about discounts (especially with auto).

Okay, but really, what can I expect to pay?

As we said, insurance prices can range greatly depending on a number of factors, but we do want to give you a more tangible idea of what you can expect to pay.

Before you take the below numbers as gospel, we want to preface by saying, we’ve been doing insurance for decades and things still surprise us every day.

We’re providing a wide range of what policies typically cost, but it’s totally possible that your quote could fall outside of these ranges.

What does car insurance cost?

Depending on several factors, you can generally expect a car insurance policy to fall somewhere between $700 - $3,000 per year or $58 - $250 per month.

What does home insurance cost?

Depending on several factors, you can generally expect a home insurance policy to fall somewhere between $700 - $4,000 per year or $58 - $333 per month.

What does life insurance cost?

Depending on several factors, you can generally expect a life insurance policy to fall somewhere between $100 - $1,000 per year or $8 - $83 per month.

What does renters insurance cost?

Depending on several factors, you can generally expect a renters insurance policy to fall somewhere between $100 - $300 per year or $8 - $25 per month.

What does umbrella insurance cost?

Depending on several factors, you can generally expect a $1 million umbrella policy to cost between $160 and $300 per year or $13 to $25 per month.

What does flood insurance cost?

Depending on several factors, you can generally expect a flood insurance policy to fall somewhere between $500 to $12,000 per year or $41 to $1,000 per month.

How much does condo insurance cost?

Depending on several factors, you can generally expect a condo insurance policy to fall somewhere between $200 to $1,000 per year or $16 to $83 per month.

How much does pet insurance cost?

Depending on several factors, you can generally expect a pet insurance policy to fall somewhere between $360 - $1,200 per year or $30 and $100 per month.

How much does non-owner auto insurance cost?

Depending on several factors, you can generally expect a non-owner auto insurance policy to fall somewhere between $200 - $700 per year or $16 - $58 per month.

Personal Insurance pricing FAQs

We know sticking to your budget is important, so you probably still have questions about insurance pricing. Let’s get you some answers.

How can I save on my personal insurance policies?

Why do my personal insurance rates keep going up?

Small increases in personal insurance are usually normal. Many external factors cause rates to inflate annually, but if the increase is significant, there might be other factors playing into it. As you’ll see, most of these increases are related to your auto policy.

Some of these factors may include

Life changes
Inflation
Lost discounts
Changes in payment plans
More advanced technology
More accidents/claims
Rising medical costs:

How do I know if I’m getting the best price?

To be honest, unless you are shopping around with every possible insurance carrier, you can’t know if you are getting the best price.

Even so, the best price isn’t necessarily the lowest price, because you want to make sure your policies are properly covering you so you aren’t stuck with a huge out-of-pocket expense resulting from a claim.

If you work with an independent agency like us at Oklahoma Insurance Group, we will shop around for you, ensuring you get the right coverage at the right price, paired with money-saving opportunities.

How can I pay for my insurance?

So how much does commercial insurance cost?

At Oklahoma Insurance Group, we prioritize honesty and education. We want to provide transparent answers to all of our clients’ questions so they can feel confident about their insurance.

But some of these questions aren’t so easy to answer. One of those is “How much does insurance cost?”

You see, nothing about insurance is straightforward. Every policy is so complex, with unique factors determining the price.

However, we’re going to do our best to explain to you how commercial insurance pricing works, so hopefully you can have an idea of what to expect (and how to save) before you get a policy (or several).

Get a Quote

What types/how much insurance do you need?

The number of policies you need and the amount of coverage under each policy will be completely unique to your business’ needs and operations. Each of these policies will also have designated coverage limits and optional coverages catered to your organization. All of these factors will play into what your commercial insurance costs.

Factors that influence pricing

In addition to the types of insurance and coverage amounts you need, there are various factors that could play into what your commercial insurance costs. Depending on the type of insurance, some of these factors may be location, property factors, risks, revenue, employees and more.

Ways to save

Fortunately, commercial insurance offers several opportunities to save. Some include bundling your policies, increasing your deductible, paying through EFT/ACH, removing optional coverages you don’t need, implementing employee handbooks and safety manuals, or asking about discounts.

Okay, but really, what can I expect to pay?

As we said, insurance prices can range greatly depending on a number of factors, especially when comparing a sole proprietor to a high-risk company with thousands of employees. But we do want to give you a more tangible idea of what you can expect to pay.

Before you take the below numbers as gospel, we want to preface by saying, we’ve been doing insurance for decades and things still surprise us every day.

We’re providing a wide range of what policies typically cost, but it’s totally possible that your quote could fall outside of these ranges. We know these ranges are huge, but that’s because every business is so different and ranges dramatically in size and risks. For a more accurate quote, reach out to an agent!

Discussing insurance options in the office

How much does a commercial owners policy (property and general liability) cost?

Depending on several factors, you can generally expect a BOP to fall somewhere between $200 to $80,000 per year or $16 to $6,666 per month.