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Bill

HB 2929

Insurance; homeowner's policy; terminations; premium; renewal; underwriting; at-fault motor vehicle claims; effective date.

2026 Regular Session Introduced by Kevin Norwood

HB 2929 regulates Oklahoma homeowner's insurance terminations and renewals, restricting how insurers use at-fault motor vehicle claims in underwriting decisions.

Referred to Rules
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WeVote Research Nonpartisan
Bill Summary · HB 2929

Legislative bill overview

HB 2929 modifies Oklahoma's homeowner's insurance regulations regarding policy terminations, premium adjustments, renewals, and underwriting standards—specifically addressing how insurers can use at-fault motor vehicle claims as a factor in homeowner's policy decisions. The bill establishes rules governing when and how insurers may terminate, non-renew, or adjust rates on homeowner's policies based on driving records.

Why is this important

Homeowner's insurance is a mandatory requirement for most mortgage holders, making accessibility and affordability critical. This bill directly affects how insurers assess risk and set rates, which can significantly impact whether homeowners can afford coverage or face non-renewal. The connection between auto claims and home insurance rates also influences how many Oklahomans experience insurance across multiple lines of coverage.

Potential points of contention

  • Scope of permissible underwriting: Whether using motor vehicle claims to deny or non-renew homeowner's policies is an appropriate risk assessment tool or unfairly penalizes drivers
  • Consumer protection vs. insurer discretion: Tension between protecting homeowners from arbitrary non-renewals and allowing insurers to manage their risk portfolios
  • Market availability: If restrictions on non-renewals are too strict, insurers may reduce market participation; if too loose, coverage gaps may increase for higher-risk populations

Compiled from official sources — confirm details with the bill’s official record.

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