Tag: oklahoma homeowners insurance

Homeowners insurance rates move up in tornado prone Oklahoma

G. Turner
Tornado damage homeowners insurance

As the season for natural disasters begins, the premiums are headed skyward yet again. Over the last few years, Oklahoma has seen some of its costliest natural disasters, and with the increase in the losses from tornado damage, homeowners insurance rates are now on the rise. The season for tornadoes has now begun and people across the state are keeping a watch on the skies. Some of the regions in Oklahoma are among the hardest hit by severe weather in the entire country. In 2010, there were 55 tornadoes that…

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Earthquakes send ripples through homeowners insurance industry in Oklahoma

Oklahoma Homeowners Insurance

Small quakes cause some concern in the homeowners insurance space A recent outbreak of earthquakes in Oklahoma has caused some waves in the homeowners insurance sector. Over the past month, several small earthquakes have been reported throughout the state. In many cases, these quakes are not large enough to cause any significant damage, often only knocking pictures or books from shelves. According to the U.S. Geological Survey, these quakes range in magnitude from 2.8 to 4.3, barely enough to be felt by anyone, but enough to cause some concern. Frequency…

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Homeowners insurance premiums in Oklahoma are rising for many reasons

homeowners insurance

Many residents of the state are wondering why their rates are skyrocketing. Homeowners insurance policyholders in Oklahoma are now facing premiums that have risen by ten percent, and many are wondering what is behind this significant increase. In this case, the traditional explanations that would justify a rate hike don’t seem to apply. As materials and labor remaining about the same due to the current economy, and inflation is low – according to the government – many are struggling to see what could possibly be behind a homeowners insurance rate…

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Oklahoma Insurance Department sends aid for Oklahoma fire victims

S.Vagus
Creek County Fires

Insurance officials dispatched to Creek County The Oklahoma Insurance Department has dispatched a dozen insurance officials to assist consumers that suffered from the recent wildfires that rampaged through Creek County. The insurance officials will assist those affected by the disaster with claims and provide them with the resources necessary to ensure that their claims are filed appropriately and what steps to take thereafter. The Insurance Department notes that the move is to show Creek County residents that the agency is committed to providing the assistance they may need to navigate…

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The Oklahoma homeowners insurance industry loses another company

Oklahoma Homeowners Insurance

The Oklahoma homeowners insurance marketplace has now lost its fifth company this year. As the threat of severe weather approached the state from the Kansas boarder yet again, the Oklahoma homeowners insurance industry received news that yet another insurer has decided not to continue selling or renewing policies there. This is not the first time that this type of insurance news has been made within the state this year. In fact, it is the fifth announcement of its kind since the start of 2012. It appears that the state is…

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