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Will damage from storms prompt higher insurance rates for Oklahomans? NewsOK.comA state law prohibits insurance companies from canceling or failing to renew a homeowners policy or raising the premium because the property owner filed a first claim against the policy. "That first claim you have an opportunity to file without any impact on the policy,” said Marc Young , state assistant insurance commissioner. "That’s why it’s important that you view that policy as an insurance policy for umbrella protection, and not simply as a maintenance policy.” Insurance companies providing coverage in Oklahoma are prepared for major storm damage claims, Young said. "In Oklahoma, we also have a very competitive market, particularly on the property and casualty side,” he said. That provides Oklahomans with an opportunity to shop around if an insurance provider does raise rates. The Sunday hailstorm potentially could produce greater insured losses than last week’s tornadoes because much of the hail damage wasAuto Insurance in the Changing EconomyIt’s always important to understand what type of auto insurancecoverage you carry, but now more than ever we need to pay close attention. This is according to the article “Car Insurance in the New Economy” by Ed Normund on Injuryboard.com. The recession is causing more and more drivers to cut back on their coverage or eliminate auto insurance altogether and this may cost you in the long run. The article recommends certain types of coverage that can help protect you during these tough times: Bodily Injury Liability - pays for injuries that you cause to another based on negligence Property Damage Liability - pays for property damages that you cause due to negligence Umbrella Insurance - covers you for bodily or property damages from auto accidents Uninsured Motorist Protection - covers injuries to you and others when hurt by someone else Comprehensive coverage - covers your car for damage caused by theft or other events Collision insurance - covers you for damage to your car when in a crash with someone else Medical Payments or Personal Injury Protection Insurance - covers you and your car occupants for limited medical payments with no regard to who is at faultTake the time to understand what is included in your auto insurance policy to ensure you are fully protected. What type of coverage you have does factor into your rates, so consider closely what you do and do not need to ensure you have adequate and affordable auto insurance. It’s often better to be safe than sorry in the case of a car accident. ArrayLower your insurance rates with one call to the agents at Central Insurance in Austin, Texas. They shop and compare regional and national ... Umbrella Insurance Rates - News
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