Understanding Property Insurance In Oklahoma: What Homeowners Need To Know

Why Property Insurance Is Essential in Oklahoma

Oklahoma ranks among the top states for severe weather damage. Whether it’s a tornado ripping through your neighborhood or hail pelting your roof, the cost of repairs can be substantial. Our agency is committed to helping homeowners find the right policies to protect their property, savings, and family.

Why Are Insurance Rates Increasing in Oklahoma?

If you’ve noticed your insurance premiums going up, you’re not alone. Several factors are driving the increase in property insurance rates across Oklahoma, including:

Severe Weather Damage – Oklahoma consistently experiences some of the most damaging storms in the country, leading to higher claims and increased costs for insurance companies. More claims mean higher premiums for homeowners.

Rising Construction Costs – The cost of materials and labor has surged in recent years. Rebuilding after a storm is more expensive, which means insurers must adjust premiums to keep up with these rising costs.

Increased Claims & Fraud – A higher number of claims, combined with fraudulent roofing and contractor scams, have led insurers to raise rates to cover their losses.

Reinsurance Costs – Insurance companies purchase reinsurance (insurance for insurers) to help cover large-scale losses. As catastrophic weather events become more frequent, the cost of reinsurance has risen, and those costs get passed down to homeowners.

While we can’t control the weather or market conditions, Jamie Slate Agency is here to help you find the best rates and coverage options to protect your home without overpaying.

What Does Property Insurance Cover?

✅ Dwelling Coverage – Pays for repairs or rebuilding costs if your home is damaged by a covered peril, such as a storm or fire.

✅ Personal Property Coverage – Protects belongings like furniture, electronics, and clothing from theft or damage.

✅ Liability Protection – Covers legal expenses if someone is injured on your property.

✅ Additional Living Expenses (ALE) – Helps pay for temporary housing if your home becomes uninhabitable due to a covered event.

Common Exclusions in Oklahoma Property Insurance

While homeowner’s insurance offers broad protection, certain risks require additional coverage:

❌ Flood Damage – Standard policies do not cover flood-related losses. We can help you secure flood insurance through the National Flood Insurance Program (NFIP).

❌ Earthquakes – With seismic activity increasing in Oklahoma, adding an earthquake endorsement is a smart move.

❌ Wear and Tear – Insurance won’t cover damages from normal aging or neglect. Regular maintenance is key to keeping your home protected.

Get the Right Coverage Today

Don’t wait until disaster strikes to find out if your home is properly insured. Jamie Slate Agency is here to help you get the coverage you need at the best possible rate. Contact us today for a personalized policy review and let us help you protect what matters most.

Call us (580) 786-4771

Text us (580) 467-4391