Oklahoma’s homeowners insurance sector becomes shrouded in controversy

Oklahoma earthquake insurance coverage
Auto insurance data spat could lead...
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Homeowners claim that insurers are refusing to cover damage caused by earthquakes Controversy has erupted in Oklahoma’s homeowners insurance sector, and earthquakes are part of the problem. Many homeowners have begun issuing complaints that their insurance providers are refusing to cover damage caused by earthquakes. Oklahoma has been rocked by quakes in recent months, with these disasters becoming somewhat more frequent over the past year. Notably, these quakes may be being caused by injection wells, which are used to extract natural gas from the earth. Even homeowners with earthquake insurance…

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Earthquakes cause problems for homeowners insurance customers in Oklahoma

Oklahoma Earthquake Insurance

Oklahoma homeowners are beginning to feel pressure associated with earthquakes Earthquakes in Oklahoma are beginning to cause some problems for those with homeowners insurance. The Oklahoma Insurance Department notes that many homeowners may be surprised to discover that their homes are not actually protected against earthquakes. The state has been experiencing an increasing frequency of earthquakes in recent years, with some state officials suggesting that tremblers may be linked to the controversial practice of fracking, which involves the use of oil injection wells. Most homeowners may lack the needed earthquake…

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1,100 homeowners insurance claims generated after Oklahoma storms

Oklahoma Homeowners Insurance

Oklahoma Insurance Department sheds light on recent disasters and offers advice The Oklahoma Insurance Department has released information that shows that 1,100 homeowners insurance claims have been generated by storms that hit the state earlier in the week. The state fell victim to powerful storms that generated tornadoes and caused a significant amount of property damage. Many homeowners were affected by the disasters that struck the state and more claims may be filed in the coming weeks as property owners continue to assess the damage. Tornadoes have caused significant damage…

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Oklahoma insurance industry could shift in race for new Insurance Commissioner

Oklahoma Health insurance

Viner and Doak will compete for the position of the state’s Insurance Commissioner The race for Oklahoma’s next Insurance Commissioner is on and insurance rates may decide the victor. The state’s current Commissioner, John Doak, will compete with Bill Viner, an auditor for the Oklahoma Tax Commission. While Viner is a relative newcomer to the state’s political scene, he has set his sights on addressing the issue of insurance rates and the financial burden they represent. Homeowners insurance rates, in particular, are expected to receive a significant amount of attention.…

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Homeowners insurance customers in Oklahoma still paying high rates

Oklahoma Homeowners Insurance

Residents of the state are still seeing costs that are among the highest in the United States. Property owners in Oklahoma are already paying some of the highest homeowners insurance rates in the country due to the state’s high risk of severe weather such as tornadoes, hail, and other damaging forces of nature. Now, insurers in the state are seeking to increase their rates by as much as 40 percent. Despite the fact that the residents of the state are already paying more than those of most other states across…

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Homeowners insurance recommended for Oklahoma residents

Oklahoma Tornado homeowners Insurance

Officials in the state have been urging residents to consider the “hard to insure” program for their homes. The head of the homeowners insurance department in Oklahoma has released a statement that is currently urging residents to consider taking part in the “hard to insure” program to obtain coverage for their homes. This recommendation comes on the heels of over $1 billion in claims payments from May’s severe tornado damage. John Doak, the commissioner for Oklahoma, issued a statement at the end of the week that reminded residents of the…

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Homeowners insurance prices shouldn’t be affected by Oklahoma tornadoes

Oklahoma Tornado homeowners insurance

The major storms that the state has seen should not cause its premiums to increase, says the commissioner. Following the devastation from the tornadoes and the massive storms that have struck central Oklahoma over the last few weeks, homeowners insurance customers have been worried that this will increase their risk level and will cause their premiums to skyrocket. However, the commissioner has released a statement to assuage those fears and has said that increases will hold off. Commissioner John Doak has released a statement that has said that the homeowners…

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