Oklahoma Insurance Commissioner John Doke Ripped off on homeowners insurance, commissioner's hands tied? Oklahoma City, Oklahoma

" I called the insurance commissioners office and was told there is nothing they can do. Why do we have an insurance commissioner if they cannot keep the insurance companies from ripping us off?  "

  It appears that your premiums are higher for two reasons.  Your region has had a higher than normal number of claims recently, and more significantly, that you have made a claim for hail damage.

  I'm not sure how much experience you have with insurance, but you are virtually guaranteed to have a big increase in premiums if you've been paid on a claim.   That's the way it works. 

  If you think your insurance company is ripping you off, there's a very simple way to solve that problem.   Simply go to a competing insurance company and sign up with them.  Insurance companies must compete with each other for business.   If one company is truly charging arbitrarily high rates, their competitors will be happy to take all of their customers.    On the other hand, if the costs of paying claims has truly increased drastically in your area, you'll find that the competing companies will be offering similar rates.

The insurance companies spread the risk around.

Areas that have more claims are assessed more in premiums.

To do otherwise would penalize those living in areas of lower/fewer claims.

If I lived where tornados and hurricanes were common, I'd expect to pay more.

I live in a relatively calm (weather-wise) area and expect to pay less.

The insurance commissioners cannot force confiscatory rates on the insurance companies or they will not sell insurance in that state.

Most homeowners insurance is now costing the insurers more than they receive in premiums.

If you are for socialism, and it appears you are, then indeed you will feel Ripped Off.

Somebody has to pay the piper.

No, I DON'T work for the insurance industry and never have.