Oklahoma Insurance Commissioner Tours Pawnee Earthquake Damage

The Oklahoma Insurance Department went to Pawnee today to visit earthquake victims. They’re recovering from the largest earthquake that has ever hit Oklahoma, a 5.8 magnitude.

Oklahoma Insurance Commissioner John Doak and his team spent most of the day at the Pawnee Library, welcoming neighbors to come and ask questions about earthquake insurance policies and claims. They also toured Pawnee with the mayor and surveyed damage.

Doak has some advice for Oklahomans who are considering earthquake insurance.

• Each earthquake insurance policy offers different coverage. Waiting periods may differ because of possible aftershocks. It can vary between 72 hours to 60 days depending on the magnitude.
• Earthquake insurance will generally cover damage to your home and other structures, like the garage.
• Coverage can also pay for living expenses while your home is being repaired. That is something to discuss with your agent.
• About 90 percent of those who have earthquake insurance in Oklahoma have oil and gas activity covered. Double check with your agent.

Doak says earthquakes are now so frequent in Oklahoma, it is important to be prepared.

“A $7,000 deductible is better than having a $75,000 hit come out of your checking account or out of your life savings,” said Doak.

The Oklahoma Insurance Department plans to visit Pawnee again.

Those with questions about earthquake insurance or claims can call the Consumer Hotline at 800-522-0071 or visit www.prepare.oid.ok.gov