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Let’s be honest, a home insurance policy that made perfect sense five years ago might leave you completely exposed today.
The reality is that Oklahoma City homeowners are facing a challenging situation. The cost to rebuild, not just repair, a home after a total loss has surged due to inflation, material shortages, and rising labor costs. Here’s the catch: if your home insurance isn’t keeping up, you’re on the hook for the difference.
Construction Costs Are Climbing Fast
Everything is getting more expensive: lumber, concrete, and skilled trades. Across the board, prices have skyrocketed over the last five years. Rebuilding a 2,000-square-foot home in Oklahoma City now costs significantly more than it did just a few years ago, yet your policy may still reflect outdated replacement values.
Why does this matter? Most home insurance policies in Oklahoma City, OK, are based on a home’s estimated rebuild value, not its market price. If your coverage hasn’t been updated, a fire, tornado, or severe storm could leave you with a partial payout and a financial gap you didn’t plan for.
Standard Coverage Isn’t Always Enough
Even if you think you have “full coverage,” you might still fall short. Here’s why: basic policies typically cap replacement costs at the original estimate, but your home is likely worth much more now.
It’s simple math. Let’s say your home needs to be rebuilt from the ground up. That includes everything: permits, labor, debris removal, and compliance with updated zoning or building codes. All of these costs have increased. If your coverage isn’t designed to grow with those expenses, you could be left with a significant financial burden.
How to Protect Yourself Before It’s Too Late
The solution starts with a conversation. At Freeland Insurance, we help Oklahoma City homeowners review their current policies and assess real-time rebuild values, not just ballpark figures.
We also walk you through optional add-ons, like extended replacement cost or ordinance coverage, which can protect you from ever-increasing construction costs.
Not sure if your coverage still fits your home? Let’s take a look together. Contact Freeland Insurance in Oklahoma City, OK, today. No pressure, just answers.