Oklahoma City, December 12, 2025
Oklahoma Insurance Commissioner Glen Mulready has proposed a legislative package to address the increasing homeowners insurance premiums in Oklahoma City. The proposals aim to enhance consumer protections, improve market transparency, and provide relief to homeowners facing significant rising costs due to severe weather events and construction expenses. Key measures include House Bill 2933, which limits attorney fees in lawsuits, establishes a Homeowner Claims Bill of Rights, and protects roof coverage. The Strengthen Oklahoma Homes Act offers grants for retrofitting homes to enhance resilience.
Oklahoma City Tackles Rising Homeowners Insurance Costs
Legislative proposals aim to provide relief and improve protections for homeowners
Oklahoma City, OK – In a move that addresses the growing concerns of homeowners across the state, Oklahoma Insurance Commissioner Glen Mulready has unveiled a comprehensive legislative package designed to tackle the significant increases in homeowners insurance premiums. Set to be introduced in the 2026 legislative session, these proposals focus on enhancing consumer protections, improving transparency within the insurance market, and providing much-needed relief to homeowners burdened by rising costs.
The rising premiums have become a critical issue in Oklahoma, with many homeowners feeling the strain as the costs soar due to severe weather events and escalating construction expenses. The legislative package offers a proactive approach towards stabilizing the insurance market and assisting homeowners in maintaining affordable coverage.
Key Proposals in the Legislative Package
House Bill 2933
This pivotal bill lays out several important measures, including:
- Limit Attorney Fees: The legislation proposes prohibiting the awarding of attorney fees to either party in property insurance lawsuits, which aims to lower litigation costs and deter frivolous claims.
- Establish a Homeowner Claims Bill of Rights: Insurers will be required to provide policyholders with a clear outline of their rights and responsibilities within a strict 14-day window after a claim is filed.
- Protect Roof Coverage: The bill will prevent insurers from denying or reducing coverage for roofs that are less than 15 years old, ensuring that homeowners can adequately protect their properties.
Strengthen Oklahoma Homes Act
The Strengthen Oklahoma Homes Act complements House Bill 2933 by focusing on enhancing home resilience. This initiative would provide grants to homeowners for retrofitting their properties with weather-resistant materials, which could lead to reductions in long-term insurance costs.
Background and Context
Oklahoma has seen substantial increases in homeowners insurance premiums, attributed in large part to severe weather events including tornadoes and hailstorms, alongside increasing construction costs. In 2025, the state ranked 36th nationally for average rate hikes, with premiums averaging $8,369 per year.
In light of these escalating costs, the Oklahoma Insurance Department has partnered with legislators, industry stakeholders, and consumer advocates to formulate solutions aimed at ensuring fair treatment for homeowners, expediting claims processing, and improving access to affordable insurance options. The proposed measures reflect a dedicated effort to address these challenges and to provide meaningful relief for Oklahoma homeowners.
Key Features of the Legislative Package
| Feature | Description |
|---|---|
| House Bill 2933 | A legislative proposal to limit attorney fees in property insurance lawsuits, establish a Homeowner Claims Bill of Rights, and protect roof coverage for homes less than 15 years old. |
| Strengthen Oklahoma Homes Act | An initiative providing grants to homeowners for retrofitting their properties with weather-resistant materials to enhance resilience and reduce insurance costs. |
| Consumer Protections | Measures aimed at enhancing consumer rights and improving market transparency to ensure fair treatment of homeowners. |
| Legislative Collaboration | Ongoing efforts by the Oklahoma Insurance Department, legislators, industry stakeholders, and consumer advocates to develop solutions for rising homeowners insurance premiums. |
Conclusion
The legislative proposals unveiled by Commissioner Mulready represent a significant step towards alleviating the burden of rising insurance premiums faced by Oklahoma homeowners. By focusing on consumer protections, transparency, and resilience, Oklahoma is setting a precedent for how states can effectively respond to the challenges of the insurance market. As these measures move forward, it will be vital for homeowners to remain engaged and informed about developments that could impact their financial security and property protection.
FAQ
What is House Bill 2933?
House Bill 2933 is a legislative proposal in Oklahoma that aims to limit attorney fees in property insurance lawsuits, establish a Homeowner Claims Bill of Rights, and protect roof coverage for homes less than 15 years old. These measures are designed to reduce litigation costs, enhance transparency, and ensure homeowners maintain adequate insurance protection.
What is the Strengthen Oklahoma Homes Act?
The Strengthen Oklahoma Homes Act is an initiative that provides grants to homeowners for retrofitting their properties with weather-resistant materials. The goal is to enhance home resilience against severe weather events and reduce long-term insurance costs.
Why are homeowners insurance premiums rising in Oklahoma?
Homeowners insurance premiums in Oklahoma have been rising due to factors such as severe weather events, including hailstorms and tornadoes, and increasing construction costs. These elements have led to higher claims and, consequently, higher premiums for homeowners.
How will the proposed legislative measures help homeowners?
The proposed legislative measures aim to help homeowners by reducing litigation costs, enhancing transparency in the claims process, and ensuring that insurance coverage remains adequate and affordable. By addressing these issues, the measures seek to stabilize the insurance market and provide relief to homeowners facing rising premiums.
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