If you’re a homeowner in Oklahoma, you’ve probably asked:

“Why does my home insurance premium increase every year?”

It’s one of the most common questions we receive at S&S Insurance Services.

While sometimes insurance companies do implement rate increases, many annual premium changes happen for a completely different reason — something called Inflation Guard.

Understanding how this works can help you make better decisions about your homeowners insurance coverage.

What Is Inflation Guard in Homeowners Insurance?

Inflation Guard (HO 04 46) is a homeowners insurance endorsement that automatically increases your coverage limits over time to reflect rising rebuilding costs.

It typically applies to:

Dwelling Coverage (Coverage A)

Other Structures

Personal Property

Loss of Use

Instead of waiting years to adjust coverage, Inflation Guard increases your limits automatically and continuously throughout the policy term based on a scheduled annual percentage.

This helps protect you from being underinsured.

Why Home Insurance Premiums Increase Each Year

When your dwelling coverage increases, your premium increases as well.

Here’s why:

If your home was insured for $300,000 last year and Inflation Guard increases it by 4%, your new dwelling limit becomes $312,000.

More coverage means:

Higher potential claim payout

Greater risk assumed by the insurance company

Adjusted premium to match the higher limit

This adjustment often happens even if there is no major rate change filed by the carrier.

So when homeowners see their home insurance premium increase every year, Inflation Guard is frequently a major factor.

Why Inflation Guard Is Important in Oklahoma

Construction costs in Oklahoma continue to rise due to:

Increased labor costs

Higher material prices

Roofing and lumber fluctuations

Changes in building codes

Storm-related demand after hail and wind events

If your coverage does not keep pace with rebuilding costs, you risk being underinsured at the time of a major loss.

And in Oklahoma — where severe weather claims are common — accurate replacement cost coverage matters.

Replacement Cost vs. Market Value

Many homeowners confuse market value with replacement cost.

Market value includes:

Land value

Location desirability

School districts

Replacement cost is simply the cost to rebuild the structure.

Inflation Guard focuses on keeping your replacement cost coverage accurate — not your home’s resale value.

Should You Remove Inflation Guard?

Some homeowners ask if lowering or removing Inflation Guard would reduce their premium.

Technically, yes.

But doing so may create a much larger financial risk if your home is not insured to current rebuilding costs.

The better approach is reviewing your dwelling limit annually with your agent to make sure:

The replacement cost estimate is accurate

The inflation percentage applied makes sense

Your coverage reflects today’s construction environment

Final Thoughts: Home Insurance Increases Are Not Always Random

If your home insurance premium increases each year, it is not necessarily “for no reason.”

In many cases, it is the result of:

Inflation Guard adjustments

Rising construction costs

Replacement cost updates

Homeowners insurance is designed to protect your largest asset. Keeping coverage aligned with rebuilding costs is critical.

If you would like a homeowners insurance review in Oklahoma, S&S Insurance Services is happy to walk through your policy and explain exactly how your dwelling coverage and premium are structured.

S&S Insurance Services
Oklahoma Independent Insurance Agency
Helping homeowners understand their coverage — not just their premium.

S&S Insurance Social Media Posts

One of the most serious conditions in a homeowners policy is something called “Concealment or Fraud.”

If any insured intentionally:

Conceals or misrepresents a material fact

Engages in fraudulent conduct

Makes false statements related to the policy

👉 Coverage can be excluded for all insureds on the policy.

And this applies whether it happens before a loss or after a loss.

What Is a “Material Fact”?

A material fact is any information that could have caused the insurance company to:

Decline to insure the risk

Charge a higher premium

Offer different terms or deductibles

If the information would have changed underwriting — it matters.

Insurance Is Built on “Utmost Good Faith”

Insurance is a contract of utmost good faith.

That means:

The insurance company must act honestly and fairly.

The insured must provide accurate and complete information to the best of their knowledge.

The insurer relies on your answers when:

Issuing the policy

Setting your rate

Investigating a claim

If that trust is broken, coverage can be denied.

Let’s Talk About Quotes for a Minute

Every single day when people call us for quotes, we ask underwriting questions:

Who lives in the household?

Any prior claims?

Business use?

Pets?

Roof age?

Driving history?

Property updates?

Sometimes people are tempted to answer these questions the way they think will make the insurance cheaper.

But here’s the truth:

If someone provides information that isn’t accurate, they’re not hurting the agent. They’re not hurting the insurance company.

They’re only hurting themselves.

It’s not our role to accuse anyone of being dishonest. We document what we’re told and submit the application based on that information.

But when a claim happens, adjusters investigate. They verify facts. They pull reports. They ask questions.

If something surfaces that contradicts what was originally stated — that’s when problems begin.

And at that point, it’s no longer about price. It’s about coverage eligibility.

A Real-World Perspective

Insurance companies don’t deny claims lightly. Fraud must be proven. Adjusters analyze each case carefully.

But intentional misrepresentation is one of the quickest ways to jeopardize coverage entirely.

What This Means for You

When getting a quote or filing a claim:

Be accurate.

Be honest.

Don’t exaggerate.

Don’t guess — say “I’m not sure.”

Don’t let someone coach you into saying something that isn’t true.

Insurance is designed to protect you — but only when the information provided is truthful and complete.

Final Thought

The best way to protect yourself is simple:

Tell the truth upfront.

If the price changes because of it, at least you know your coverage is solid when you need it most.

If you ever have questions about how to answer something or whether something matters — call us. That’s what we’re here for.

— S&S Insurance Services

When a home insurance claim happens, emotions run high. But what many people don’t realize is that every homeowners policy includes specific “Duties After a Loss.”

These duties are not optional. If they are not followed — and the failure harms the insurance company’s ability to investigate — coverage can be denied.

Here are the eight required duties most policies include:

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1️⃣ Provide Prompt Notice to Your Insurance Company

Report the loss as soon as reasonably possible. Delays can create coverage issues and make the investigation more difficult.

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2️⃣ Notify Police if a Theft Occurs

If property is stolen, you must file a police report. This creates an official record of the incident.

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3️⃣ Notify Credit Card or EFT Companies (If Applicable)

If credit cards or electronic funds transfer cards were stolen, contact the issuer immediately to limit fraudulent charges.

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4️⃣ Protect Property From Further Damage

After a loss, you are responsible for preventing additional damage.
Examples:

• Tarp a damaged roof
• Shut off water to prevent further leakage
• Board up broken windows

Insurance covers sudden and accidental damage, not ongoing damage due to neglect.

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5️⃣ Cooperate With the Insurance Company’s Investigation

You must work with your insurer during the claim process. This may include answering questions, providing documents, or assisting with inspections.

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6️⃣ Prepare an Inventory of Damaged Personal Property

Create a detailed list of damaged or stolen items, including:

• Description
• Quantity
• Approximate age
• Estimated value

Photos and receipts are extremely helpful.

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7️⃣ Show Damaged Property & Provide Documentation (If Requested)

If requested, you must:

• Allow the insurer to inspect damaged property
• Provide records or documents
• Submit to an Examination Under Oath (EUO) if required

An EUO is a formal recorded statement about the loss.

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8️⃣ Provide a Sworn Proof of Loss Within 60 Days (If Requested)

If the insurance company requests it, you must submit a signed, sworn proof of loss within 60 days.

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Why This Matters

Insurance policies are legal contracts. Following these duties helps:

• Speed up the claim process
• Prevent delays
• Protect your coverage
• Reduce misunderstandings

If you ever experience a loss, call your agent immediately. We can walk you through each step so nothing gets missed.

Preparation before a claim is what prevents problems during a claim.

– S&S Insurance Services

At S&S Insurance Services, one of the most common questions we hear is:

“My roof is 10–15 years old and has been through a lot of storms. Can I file a claim?”

This is where an important insurance principle comes into play:

🔑 Insurance is designed for sudden and accidental damage

It is not designed to pay for things that happen gradually over time.

🟢 What Insurance Does Cover

Insurance is meant for one identifiable event that causes damage.

Examples:

A specific hailstorm damages shingles

A tree limb falls on your roof during a windstorm

A pipe suddenly bursts and floods a room

Lightning strikes your home

These are:
✔ Unexpected
✔ Caused by a single event
✔ Not part of normal aging

That’s what a claim is for.

🔴 What Insurance Does Not Cover

Insurance does not cover:

Wear and tear

Deterioration

Aging materials

Ongoing exposure to weather

Maintenance issues

So when someone says:

“My roof has been through 10 years of wind and hail.”

That’s describing gradual deterioration, not a covered loss.

A 12-year-old roof that has slowly lost granules, dried out, curled, or weakened over time is considered maintenance, just like replacing tires on a car.

🏠 The Shingle Example (Most Common Situation)

Shingles are designed to withstand weather — but they still age.

What insurance looks for:

Damage tied to one specific storm date

Visible signs consistent with a single event (like hail bruising or wind creases)

What insurance will deny:

“It’s just old”

“It’s been through a lot of storms”

“It’s worn out”

That’s considered normal life cycle, not a loss.

⚠️ Why This Matters Before Filing a Claim

Many people don’t realize:

❗ Even a denied claim goes on your insurance history
❗ Claims history can raise your premiums
❗ Too many claims can make it harder to find coverage

Filing a claim when damage is actually wear and tear can hurt you more than help.

🗣️ How to Talk About Damage the Right Way

If you believe damage happened from a storm, here’s what helps:

Helpful to know:

Approximate date of the storm

What you noticed afterward (leak, missing shingles, dented vents, etc.)

Whether neighbors had storm damage

Avoid saying:

“It’s just old”

“It’s been bad for years”

“It’s worn out”

“It’s time for a new roof anyway”

Those statements point toward maintenance, not a covered event.

🛠️ Insurance vs. Homeownership Responsibility

Think of it this way:

Insurance Covers Homeowner Covers
Sudden storm damage Aging roof
Accidental pipe burst Old plumbing
Fire Worn-out wiring
Wind tearing off shingles Gradual shingle deterioration

Insurance is for unexpected loss, not expected upkeep.

🤝 Our Goal

Our job isn’t just to sell policies — it’s to help you understand:

✔ When a claim makes sense
✔ When it doesn’t
✔ How to avoid hurting your insurance record

If you’re unsure whether something is claim-worthy, talk to your agent first. A quick conversation can save you years of higher premiums.