OKC Insurance Rating Improves, Could Save Homeowners Money

Tuesday, August 14th 2012, 5:54 pm
By: Karl Torp

Your homeowner insurance rates may soon dip, thanks to Oklahoma City's ability to put out fires.

Thanks to more fire stations and better equipment, the city's insurance rating has improved.

When Oklahoma City got its last audit in 1999, its rating was one of the worst scores possible.

"Some carriers have indicated that the reduction we could see especially in the outlying area could result in a 50% reduction in that rate," says Oklahoma City Fire Chief Keith Bryant.

8/14/2012 Related Story: Improved Rating For OKC Fire Department Could Save Residents Money

The new rating means Oklahoma City insurance ranking is in the top 25 percent in the country.

The Oklahoma Insurance Department says the majority of insurance carriers use the rating systems.

But how often a department gets rated can be a challenge.

"Some departments haven't been rated in 10, 15, even 20 years," says Randy Brogdon with the Oklahoma Insurance Department.

The Insurance Department is now working with fire departments around the state to get them rated in a timely fashion, so homeowners can save.