Home insurance increase.

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tiasman

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This is the answer about why your insurance is going up. Because of the hail, tornado's and floods, Oklahoma has the highest rates in the country.

True however tornado alley shifted east years ago and hail losses have been way down in OK for years.

They just have us trained and their lobbyists are some of the best around too.
 

tiasman

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dennishoddy

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True however tornado alley shifted east years ago and hail losses have been way down in OK for years.

They just have us trained and their lobbyists are some of the best around too.
I'm not involved in the politics of that. I'm thinking the insurance companies are looking historically?
Just heard that on the national news the other day.
 

tiasman

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I'm not involved in the politics of that. I'm thinking the insurance companies are looking historically?
Just heard that on the national news the other day.

Yes and how far back they get to keep looking is determined at the cocktail parties the lobbyists throw. It’s very profitable for homeowners insurance in Oklahoma and has been for 5-6 years as long as you manage your policies in force exposure.

At some point rate should be cut rather than charging us for factors that no longer exist as prevalent as they once did.

These same insurers have taken tons of premium hikes in TN, MS and GA, the new tornado alley.
 

dennishoddy

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Yes and how far back they get to keep looking is determined at the cocktail parties the lobbyists throw. It’s very profitable for homeowners insurance in Oklahoma and has been for 5-6 years as long as you manage your policies in force exposure.

At some point rate should be cut rather than charging us for factors that no longer exist as prevalent as they once did.

These same insurers have taken tons of premium hikes in TN, MS and GA, the new tornado alley.
I've been at one of those cocktail parties in the past. Lots of brokering going on.
 

Hangfire

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Our homeowners insurance went up 20% from 2021 to 22. I just got the notice, another 20%+ increase for 2023.

More than 45% increase in 2 years.

FJB
Do you plan on taking the time to look around for a better rate or are you just going to bite the bullet and write a check ?
 

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