Quakes, rattles, send Oklahoma Farm Bureau rolling
The company has quit selling earthquake coverage and is now referring customers to a third-party insurer as quake riders come up for renewal.
A spot check of other carriers showed no other changes in insurance coverage options, or plans for them.
For State Farm Fire & Casualty Co., it's business as usual, spokesman John Wiscaver said. Shelter Mutual Insurance Co. also continues to offer earthquake riders, said Joe Moseley, vice president of public affairs. Liberty Mutual Fire Insurance Co. had not responded to questions by late Wednesday.
Oklahoma City-based American Farmers & Ranchers Mutual Insurance Co., which does business only in Oklahoma, continues to sell earthquake riders, said Jim Overturf, director of product management and underwriting operations.
Not that American Farmers & Ranchers, or any insurance company, sells that much earthquake coverage in Oklahoma, Overturf said. Interest peaks any time more than a few people feel an earthquake, he said, but the shakes don't translate into many sales.
“It seems like when an earthquake hits the news, a lot of people inquire about it,” Overturf said, but that's it.
Oklahoma Farm Bureau referred the Muldrow man to Argenia LLC in Little Rock, Ark.
The man said he paid about $12 per year for the earthquake rider and that Argenia's first estimate was almost $200. He said Farm Bureau is working with him to find the most affordable option.