>> IT'S COMING TOWARDS YOU.
>> IT'S GOING TO COME RIGHT AT
ME OR JUST SOUTH OF ME, IT LOOKS
LIKE.
BRAD: THAT WAS LAST YEAR.
SPRINGTIME IN OKLAHOMA NEVER A
QUIET MOMENT.
WE GET TORNADOES, SEVERE
THUNDERSTORMS.
SO HOW DO WE MAKE SURE OUR
THINGS, OUR HOMES, OUR PROPERTY
IS PROTECTED?
JOINING ME NOW, OKLAHOMA
INSURANCE COMMISSIONER JOHN
DOAK.
THANKS FOR BEING WITH US.
>> ABSOLUTELY.
GLAD TO BE HERE.
BRAD: YESTERDAY WE GOT KIND OF A
STARK REMINDER OF TORNADOES AND
HAIL IN THE NEW ORLEANS AREA.
THE DEVASTATION THERE.
AS WE GET CLOSER TO STORM SEASON
IN OKLAHOMA COMING UP IN MARCH,
APRIL, AND MAY, HOW DO WE GO
ABOUT MAKING SURE WE HAVE THE
RIGHT COVERAGES?
WHERE DO I BEGIN?
I HAVE A POLICY.
WHAT DO I NEED DO TO MAKE SURE
I'M UP TO SPEED?
>> OUR HEARTS INTO OUT TO THE
FOLKS IN LOUISIANA.
KNOW THAT CAN HAPPEN AT N
OKLAHOMA AT ANY -- IN OKLAHOMA
AT ANY MOMENT.
FOLKS NEED TO LOOK AT THEIR
HOMEOWNERS POLICY.
IF THEY OWN A HOME OR IF THEY
RENT, THEY WANT TO SIT DOWN WITH
THEIR LICENSED AGENT OR BROKER
AND KIND OF GO THROUGH THE
PROCESS THERE AND UNDERSTAND
WHAT HAPPENS IF I HAVE A
CATASTROPHIC CLAIM.
HAVE I DONE A HOME INVENTORY?
HAVE I TAKEN PICTURES OF MY
CONTENTS?
HAVE I UPDATED THEM?
A LOT OF OKLAHOMANS HAVE GONE
THROUGH THESE PROCESSES THAT WE
ACCOMMODATE NEW THINGS, NEW
ASSETS.
MAKE SURE THOSE OUT BUILDINGS,
THE BOATS, ATVs, THE PERSONAL
PROPERTY, THE BASEBALL CARD
COLLECTIONS, THOSE COLLECTIBLES,
MAKE SURE THAT YOU HAVE AN
OPPORTUNITY TO SIT DOWN WITH
YOUR LICENSED AGENT OR BROKER
AND LET THEM TELL YOU HOW A
CLAIM MIGHT BE SETTLED.
IT MIGHT BE VERY EYE OPENING AND
YOU MAY DECIDE I NEED MORE OR
LESS COVERAGE AND THEN MOVE TO
YOUR AUTO.
IF YOU HAVE A CAR THAT'S PAID
OFF, DO YOU HAVE LIABILITY OR
FU COVERAGE?
MOST FOLKS DON'T DO IT.
MOST CONSUMERS NEVER READ THEIR
POLICY UNTIL THEY HAVE A CLAIM.
WE ARE TRYING TO MAKE THOSE
SIMPLER.
AGAIN, THERE'S GOOD RESOURCES
AND THE OKLAHOMA INSURANCE
DEPARTMENT, WE CAN HELP.
BRAD: YOU'RE SAYING MAKE A LIST
OF ITEMS THAT YOU HAVE.
IF I NEED PROVE I HAD THIS
EXPENSIVE ITEM, WHAT LIST DO I
NEED?
DO I NEED SERIAL NUMBERS?
THAT SEEMS DIFFICULT TO KEEP UP
WITH.
>> WITH TODAY'S TECHNOLOGY T
NATIONAL -- THE NATIONAL
ASSOCIATION OF INSURANCE
COMMISSION HAVE AN APP THAT
CONSUMERS CAN USE TO TAKE
PICTURES ON THEIR PHONE.
THEY CAN DOWNLOAD THE HOME
INVENTORY FROM OUR WEBSITE.
PICTURES ARE WORTH A LOT OF
MONEY AT THE TIME OF A CLAIM.
SERIAL NUMBERS, THOSE ARE VERY
IMPORTANT ON GUNS AND VERY
HIGH-VALUE ITEMS.
SO, AGAIN, YOU NEED TO KNOW
THERE ARE SPECIFIC LIMITS ON
SPECIFIC ITEMS.
COMPUTERS, CELL PHONES, GUNS.
UNDERSTAND RINGS, JEWELRY,
UNDERSTAND BECAUSE MOST FOLKS,
WHEN WE WALK THROUGH ONE OF
THESE DISASTERS AFTER THE SCENE,
TYPICALLY MOM OR DAD IS LOOKING
FOR A HIGH-VALUE GUN OR A VERY
VALUABLE WEDDING RING OR
SOMETHING THAT'S LOST.
THOSE HAVE SPECIAL LIMITS.
BRAD: EXTRA POLICY.
>> EXTRA POLICY, A COVERAGE, A
RIDER.
BE EDUCATED.
WE'RE HAPPY TO HELP THEM WITH
THE UPCOMING TORNADO SUMMIT.
>> YOU MENTIONED NEXT WEEK THE
INSURANCE AGENTS, METEOROLOGISTS
GET TOGETHER, DISCUSS THE
UPCOMING SEASON.
I HAVE NUMBERS FROM THE
INSURANCE INFORMATION INSTITUTE
THAT ON AVERAGE, WE HAVE
$200 MILLION IN HAIL DAMAGE.
JUST HAIL DAMAGE ALONE IN
OKLAHOMA EACH YEAR.
AND OUR POLICIES SEEM TO ALWAYS
GO UP.
IS THERE A LIMIT ON HOW MUCH THE
INSURANCE COMPANIES CAN GO UP ON
ME?
>> IN OKLAHOMA, WE HAVE A FILE
AND USE SYSTEM WHERE COMPANIES
-- WE'RE VERY FORTUNATE TO HAVE
HAD A ROBUST MARKET IN THE STATE
OF OKLAHOMA, GIVEN WE ARE ONE OF
THE TOP FIVE STATES YEAR IN AND
YEAR OUT FOR NATURAL
CONSERVATIVES, WHETHER THEY BE
WIND AND HAIL, THE MIX OF
WILDFIRE, EARTHQUAKES.
WE HAVE A VERY DYNAMIC, ROBUST
GEOGRAPHIC AREA IN OKLAHOMA.
SO, AGAIN, THOSE COMPANIES
THERE, THEY WRITE ON A
COMPETITIVE BASIS.
WE MONITOR THOSE.
AGAIN, WE'RE FORTUNATE NOT TO
HAVE FEWER COVERAGES OR OPTIONS.
WHEN CONSUMERS HAVE MORE CHOICE,
THAT TYPICALLY DRIVES PRICE
DOWN, JUST LIKE IN HEALTHCARE.
SAME THING IN PROPERTY AND
CASUALTY INSURANCE.
SO WE MONITOR THAT VERY CLOSELY.
WE'RE FORTUNATE TO HAVE A ROBUST
MARKET IN THE STATE OF OKLAHOMA.
BRAD: ACCORDING TO THE INSURANCE
INSTITUTE, WITHER NUMBER TWO FOR
THE HIGHEST PREMIUMS IN THE
NATION.
WHAT CAN WE DO TO SAVE A LITTLE
MONEY ON OUR POLICY?
BECAUSE THEY ARE --
>> ONE OF THE THINGS WE'RE
TALKING ABOUT THIS YEAR AT THE
NATIONAL TORNADO SUMMIT IS
BUILDING CODES.
WE KNOW IF WE WERE TO BUILD
HOMES TO A HIGHER LEVEL, WHAT'S
THE BIGGEST DOOR IN A HOME?
BRAD: GARAGE DOOR.
>> WHEN IT IS COMPROMISED IN A
TORNADO, TYPICALLY YOU LOSE THE
ENTIRE HOME.
WE KNOW THROUGH STUDIES,
ALABAMA, TORNADOES, SOME
INSURANCE INSTITUTE INFORMATION,
MUCH LIKE WHAT THEY HAVE DONE IN
MOORE, IF WE WERE TO BEEF UP
BUILDING CODES, MAYBE WE WOULD
NOT LOSE ENTIRE HOMES FOR EF1,
2, OR 3.
IF WE BUILD HOMES TO WITH STAND
130-MILE-PER-HOUR WINDS.
IT COMES BACK TO BUILDING CODES.
IT'S A GREAT CONVERSATION THAT I
THINK WE CAN BETTER PROTECT
OKLAHOMA.
BRAD: SINCE IT'S JUST A GARAGE,
THERE ARE THINGS YOU CAN DO NOW.
A LOT OF PEOPLE THINK BUILDING
CODES, CAN'T BUILD A NEW HOUSE,
BUT YOU CAN BEEF UP YOUR CAN
GARA DOOR NOW.
>> YOU CAN FORTIFY YOUR HOME.
THERE ARE WEBSITES OUT THERE.
THIS IS WHAT THE SUMMIT WILL
TALK THIS BE YEAR, VOLUNTARY
THINGS THAT YOU CAN DO FOR YOUR
HOME.
THERE'S ALL DIFFERENT TYPES OF
RISK MITIGATION, THINGS
CONSUMERS CAN DO, WHETHER THEY
ARE FOR TORNADOES OR
EARTHQUAKES.
WE LOSE A LOT OF CHIMNEYS IN
OKLAHOMA DUE TO EARTHQUAKES.
THERE ARE NEW THINGS BEING DONE.
WE'RE TRYING TO RAISE THAT
CONVERSATION BECAUSE WE KNOW
WE'RE GOING TO CONTINUE TO HAVE
THESE EVENTS IN OKLAHOMA.
HOW CAN WE BE BETTER PREPARED?
WE KNOW THE FOLKS IN MOORE HAVE
ADDRESSED THINGS AT A LOCAL
LEVEL.
WE ARE TRYING TO DRIVE THE GOOD
WORK DONE ON MORE OF A STATEWIDE
LEVEL.
BRAD: COMMISSIONER, WE ARE
RUNNING OUT OF TIME.
A LOT OF INFORMATION.
LOTS TO TALK ABOUT.
WHAT'S THE RESOURCE, WHAT'S THE
WEBSITE FOLKS CAN GET THROUGH
SOME OF THIS?
>> THE NATIONAL ASSOCIATION OF
INSURANCE COMMISSIONERS.
THEY CAN GO TO THEIR WEBSITE OR
GO TO OUR STATE-BASED WEBSITE,
OKLAHOMA DEPARTMENT OF
INSURANCE, OID.OK.GOV.
WE'LL BE HAPPY TO SEND THEM TO A
LINK TO A HOME INVENTORY.
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