Oklahoma Proposes Legislation to Address Rising Homeowners Insurance Rates

Insurance Commissioner Glen Mulready of Oklahoma has introduced a legislative package aimed at addressing the state’s high homeowners insurance rates, which are notably above the national average. This policy initiative, embodied in House Bill 2933, seeks to enhance consumer protections, accelerate claims handling, and increase access to affordable coverage. Key components include barring insurers from reducing or denying coverage based on roofs less than 15 years old and mandating an independent roof inspection option before requiring roof replacements for policy issuance or renewal. An important element of the bill is the establishment of a Homeowner Claims Bill of Rights, ensuring insurers respond within 14 days of a claim and prohibiting claim denials solely based on aerial imaging such as drones. The bill also contains provisions to limit attorney fees in property insurance litigation, intended to deter frivolous lawsuits that increase claim costs and subsequently drive up premiums for policyholders. These measures come amid ongoing scrutiny of insurance practices in Oklahoma, including a two-year investigation into roof claim denials with the Insurance Department deploying third-party engineers to review insurer adjusters' assessments—a pioneering enforcement step. The department plans to conclude this investigation in the first quarter of 2026 and will publicly disclose findings. Legislative and regulatory activities reflect efforts to balance market stability, consumer protection, and insurer accountability within a market challenged by high rates and rising construction costs.