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Old 11-10-2007, 08:51 AM
 
Location: central oregon coast
208 posts, read 824,086 times
Reputation: 163

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I've read that the homeowners insurance is very high (surpassed only by Texas) because of tornado alley.is it cheaper in some parts of the state-like Poteau-where the statistics are not so high?
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Old 11-10-2007, 11:23 AM
 
Location: Hughes County, Oklahoma
3,160 posts, read 10,115,618 times
Reputation: 1141
That is an interesting question, nocoldiron. I don't know if we have the highest rates or not. Hail causes more damage than tornadoes for insurance companies though, so I think that is more the reason for the high cost than tornadoes. We also have wildfires, and ice storms that cause damage that is covered under homeowners.

I looked at a rate comparison chart on the Insurance Commission's website and found this info:

For a house $150,000, masonry construction, yearly rates.


Town................OKC ....Tulsa ...Lawton ...McAlester

Company 1 .......$2492... 1976... 1901 ......2039

Company 2 .......$1580 ...1287... 1350 ......1216

Each of these is using the most favorable fire rating for the city. In all OKC pays the highest rate, probably because it has the most wind and hail risk. The companies have different opinions on the other cities. Lawton is not close to Poteau, but Tulsa and McAlester are pretty close to Poteau. You can see it pays to shop around.

Here's the chart link. The chart is on page 2 I think: Homeowners Insurance Rates Comparison Chart (4/07) - document updated as needed (http://www.oid.state.ok.us/www2.oid.state.ok.us/divisions/P&C/Pubs/Homeowners%20Insurance%204202007.pdf - broken link)

And here's one for auto rates:

[LEFT] [LEFT] Automobile Insurance Rates Comparison Chart (04/07) - document updated as needed (http://www.oid.state.ok.us/www2.oid.state.ok.us/Notices/Bulletins/PC/Auto%20Insurance%2042007.pdf - broken link)[/LEFT]
[/LEFT]
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Old 11-10-2007, 04:27 PM
 
22 posts, read 40,619 times
Reputation: 23
I have a home that is less than a year old and have total replacement coverage and only pay $600 a year with Liberty Mutual.
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Old 11-11-2007, 07:12 AM
 
5,003 posts, read 14,672,652 times
Reputation: 2475
I expected lower automotive rates after leaving California, but the insurance lady said that they are high here. Oh, rats!!
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Old 11-11-2007, 07:35 AM
 
Location: Hughes County, Oklahoma
3,160 posts, read 10,115,618 times
Reputation: 1141
I know my house insurance doubled after the dot com bust a few years ago. I was paying $450 and it went to $900.
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Old 11-12-2007, 08:42 AM
 
702 posts, read 2,363,128 times
Reputation: 555
I just bought a house in Stillwater for my son and his roommates to live in while attending college. House is 2 years old, value at $171K, insurance was $432/year. If you haven't checked them out, give ANPAC or American National a call. They have the best homeowners and car insurance I've ever seen. I switched to them after being with Farmers for over 20 years, cut my premiums in half.

The best part about ANPAC, if you are claim free after your third year, they pay you 1/4 of your premiums back, on an annual basis!! I received my second refund check from them last month, it was for almost $1100!

Call Jeri Moberly in Owasso, she'll fix you up!!
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Old 11-16-2007, 02:38 PM
 
20 posts, read 63,581 times
Reputation: 19
I pay about $640 a year, I think. But my house is only worth about $35,000 if that much. Its a double wide, I know I'm a redneck. LOL! I'd check around. Never hurts to ahop around.
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Old 08-24-2010, 04:03 PM
 
1 posts, read 6,483 times
Reputation: 10
For all you ANPAC Lovers brace yourself. After being with ANPAC for 20 years, not one single claim house or autos my home just renewed this month. Cost went from $1,895 a year to $3,698 because of storm damage in Oklahoma. I have a $1,000 deductible with over a 800 credit score which all plays a role. Need less to say I am shopping for new coverage. Love affair over. August/2010
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Old 08-25-2010, 08:05 AM
 
702 posts, read 2,363,128 times
Reputation: 555
Quote:
Originally Posted by claggett2u View Post
For all you ANPAC Lovers brace yourself. After being with ANPAC for 20 years, not one single claim house or autos my home just renewed this month. Cost went from $1,895 a year to $3,698 because of storm damage in Oklahoma. I have a $1,000 deductible with over a 800 credit score which all plays a role. Need less to say I am shopping for new coverage. Love affair over. August/2010

Odd, I have 2 homes with ANPAC and only have seen minor increases in my premiums. I even had a hail claim on my home in Stillwater and had my roof replaced. My rates actually went down on that house since it now has a new roof! What other insurance company would actually lower your rates after you file a claim for a roof replacement??? I'd jump ship too if I were you though for that drastic an increase!
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Old 08-27-2010, 08:05 PM
 
Location: Oklahoma City, OK
97 posts, read 351,132 times
Reputation: 88
I expect there will be lots of rate increases this year, given the havoc wrought on us by recent weather. (I had to get my own house reroofed following the May 18 hail barrage.) How much I don't know: my premium has been about the same for the last six years, so I'm bracing myself for a major bump.
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