Buying Home Insurance Coverage in Oklahoma

Purchasing insurance to protect your home in the Sooner State might seem like it wouldn't be any different than buying it for a house in Texas or Missouri. But you'd be wrong. States might have common ground between laws because of some common ground between what consumers need to be protected, but each state has its own concerns. That can be a function of politics and politicians, but can also have much to do with geography and weather patterns. For example, in this state, there are no small number of twisters. Any risk of damage to a home in Oklahoma is known as a "peril." Some examples are fire, burglary, or hailstorm. Home insurance is intended to protect it from various dangers.

Oklahoma's Four Single-Family Coverage Types

Unlike many states where policy types have long, descriptive titles that can vary for different types or levels of protection, the state has tried to keep things as consistent as possible for the sake of consumers. That has result in four types of policies for houses denoted by code numbers. They are HO-1, HO-2, HO-3, and HO-8. (There are two more types, neither of which are for single-family homes: one for apartments - HO-4 - and another for condos & co-ops - HO-6.)

What follows are explanations of what the standardized codes represent in terms of coverage for the homeowner's investment. As you read through them, remember that a peril is a cause of damage to a home:

We have sought to being together some basics to get you up to speed on the nature of policies in the Sooner State. However, it is best that you look up the Oklahoma Insurance Department website on the Internet. Or why not seek the help of carriers licensed to offer coverage in the state.