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Category Archives: Homeowners’ Insurance

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Do Insurance Policies Provide Coverage for Man-made Earthquakes in Oklahoma?

Posted in Homeowners' Insurance
Earthquake damageEarthquake insurance is not automatically included in a standard homeowners policy. However, insurance companies may provide coverage for earthquakes for an additional charge. Earthquake coverage may be purchased as either an endorsement to a homeowners insurance policy or it may be purchased as a separate policy of its own. Over the past few years earthquake… Continue Reading

Residential Candle Fires

Posted in Homeowners' Insurance
candle fire  Fires caused by candles result in $390 Million in claims for property loss or damage. It is estimated there are 165 fatalities each year from burning candles. Retail candle sales are increasing every year with a 700% increase in the past 10 years. Women are more likely to be killed or injured in residential… Continue Reading

Intentionally Set Fires or Arson

Posted in Homeowners' Insurance
Condo FireArson or intentionally set fires cost insurance companies $593 Million every year. It is estimated 5% of all residential fires are intentionally set. It is imperative for insurance adjusters to watch for suspicious claims involving house fires. Things to watch for include: Vacancy – 41% of intentionally set fires occur in  vacant buildings Ignite mainly… Continue Reading

Oklahoma Courts Uphold Theft Of Personal Contents Exclusion

Posted in Homeowners' Insurance
A homeowner searching for a low-cost insurance policy for his home purchased an insurance policy for his residence. The property coverage policy differed from a traditional homeowner’s insurance policy in that the property coverage provided reduced coverage for certain types of losses and didn’t cost as much as homeowners coverage would have. The contract provided… Continue Reading

Cancellation Of Homeowners’ Policy

Posted in Homeowners' Insurance
Cancellation of a homeowners’ insurance policy requires compliance with terms and conditions of the policy. It may sound simple, but we have seen several full blown lawsuits arise over the years where the manner in which the policy was cancelled before a loss occurred was challenged. The starting point is a review of the requirement… Continue Reading

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