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Oklahoma Farm Bureau Mutual Insurance lowers ratesOklahoma Oklahoma Farm Bureau Mutual Insurance Company is lowering rates an average of 6 percent on homeowner's policies. The rates become effective April 14 for new policies written and June 13 for policies renewing. "As a member service company owned by its policyholders, our company's goal is to provide Farm Bureau members with the best value in quality insurance products," said Darryl Sinclair, OFBMIC general manager. Accompanying the rate reductions is an increase in limits for personal property on some policies for no additional premium. "Some homeowners will see both lower rates and increased coverage," Sinclair said. Included in the rate savings will be a 5 percent increase in the companion policy discount. A companion policy means you have both an auto and homeowners policy with Farm Bureau. Farm Bureau offers four different types of homeowners policies with varying levels of coverage. In addition the company offers condominium and rental policies. "Many apartment dwellers don't consider rental policies but they should because they are also susceptible to loss," Sinclair said. Sinclair adds homeowners should consult with their agent to make sure they are adequately covered for losses. "Often people insure their homes for the amount they paid for the house," Sinclair said. "They should consider insuring for the actual replacement value of the home."
Date: 5/1/08 Advertisement
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