Oklahoma's Rising Homeowners Insurance Costs: Legislative Measures for Relief

Homeowners insurance premiums in Oklahoma rank among the highest nationwide, trailing only Florida and Louisiana, as reported by Insurify in 2025. In light of these rising costs, Oklahoma lawmakers have unveiled several legislative measures aimed at easing the financial burden on residents.

Legislative Proposals for Transparency

Representative Stacy Jo Adams, representing Oklahoma District 50, has put forth a bill designed to boost transparency in how insurance rate hikes are applied. Under her proposal, insurance companies must provide a 60-day notice before implementing rate increases, giving the state's insurance commissioner adequate time to assess and validate the necessity of such changes. Currently, insurers can implement changes first and notify regulatory bodies later.

Adams emphasizes the importance of regulatory compliance and transparency, stating, "I’m looking at independent actuaries so we can see behind the curtain what the insurance companies are really collecting and paying out." This initiative aims to introduce more oversight and ensure that any rate increases are justifiable from a risk management perspective.

Legal and Industry Implications

The focus on insurance costs gained traction following a 2025 legislative study into homeowners premiums. Additionally, Oklahoma Attorney General Gentner Drummond recently launched legal actions against State Farm, after previously requesting a review from the insurance commissioner. These moves highlight a robust regulatory compliance push to tackle the high cost of homeowners insurance in Oklahoma, with potential implications for both policyholders and carriers as legislative deliberations proceed.