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The Water Cooler
General Discussion
My insurance guy is saying that premiums are climbing in Okla due to last year's hail
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<blockquote data-quote="inactive" data-source="post: 1424477" data-attributes="member: 7488"><p>This is true, but for the record nearly every property/casualty company in Oklahoma pays out more in homeowners claims than they collect in premium, due to the catastrophes. they make it up on premium written in other states (i.e. Utah and Nevada, which are relatively disaster-free) and other lines of business (i.e. Auto).</p><p></p><p>Last I checked most companies were paying somewhere between $1.44 - $1.75 in homeowner claims for each $1 they collected in premium. They are trying to reduce this by taking rate.</p></blockquote><p></p>
[QUOTE="inactive, post: 1424477, member: 7488"] This is true, but for the record nearly every property/casualty company in Oklahoma pays out more in homeowners claims than they collect in premium, due to the catastrophes. they make it up on premium written in other states (i.e. Utah and Nevada, which are relatively disaster-free) and other lines of business (i.e. Auto). Last I checked most companies were paying somewhere between $1.44 - $1.75 in homeowner claims for each $1 they collected in premium. They are trying to reduce this by taking rate. [/QUOTE]
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The Water Cooler
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My insurance guy is saying that premiums are climbing in Okla due to last year's hail
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