Oklahoma Insurance Commissioner Glen Mulready was the guest of Ferguson Roof Systems for a lunch and learn gathering at The Barn at Country Club in Newcastle. Mulready assured those attending that his office was available to assist as the go between insurance companies and the insurance company customers when needed.
Although term-limited and serving out his last nine months of being in office, Mulready said he continues to regulate the insurance industry, and assist Oklahoma residents with roof claims, insurance claims, and health claims.
The OID states that if you have a dispute with your insurer over your claim, contact OID because they are there to help.
His office has a tool to locate life insurance properties when a family has lost a loved one, and doesn’t know if they had a policy.
Mulready said the homeowners insurance market in Oklahoma has had difficulties in the last three years, with a 110% loss ratio. He said it has been a losing proposition of late, and is not sustainable in the long term. He mentioned that in the last five years, the ratio was more like 90%.
Mulready said when storms come through Oklahoma, 80% of the claims are for roofs. He said, to help, Oklahoma has been offering certain areas of the state with fortified home grants of about $10,000. For those interested to see if you qualify, go to OID.ok.gov.
These grants go directly to a homeowner’s chosen roofer as they make upgrades to homes which can help keep damages during storms to a minimum.
A bit of advice Mulready offered was to take about 30 minutes on a Saturday morning, and video your home and its contents. He said you should store the video in the cloud so in case there is damage to your home, there is documentation of what you had beforehand.
The lunch and learn was an event by the Newcastle Chamber of Commerce and sponsored by Ferguson Roof Systems.
Ferguson is located at 1 Whispering Pines Drive in Tuttle, just west of Newcastle. They have been in business since 1977.
They provide the services of roofing, siding, gutters, painting, carports and patio covers, and window installation.
