Oklahoma homeowners' insurance going up

Monday, November 19th 2001, 12:00 am
By: News On 6

Insurance rates for your house could be going through the roof in some cases. Allstate is asking the State Insurance Board for a 48% increase. And State Farm and Farmer's have already gotten approval for double digit increases.

The state board will vote on Allstate's request on November 29th. But one Allstate customer says she's already thinking about shopping around. “It’ll raise my house payment probably dramatically and you know when you're not prepared for such things, and the fact that I'm going to be having a family soon, that's a big issue."

And believe it or not, insurance companies say the rate hike has nothing to do with September 11th. Among other things, they say it stems from the bad economy, and the fact they're not making money off their stock investments like they did in the past.