In September 2011, Home Value Insurance Co. introduced a type of homeowners' insurance intended to safeguard families against a decline in property value. At the time, the coverage was only available to Ohio residents; however, the company had projected to sell the policies in "15 to 20 states" by the end of 2012.
It would seem that Home Value Insurance is making progress toward that goal, as the company rolled out a plan to help Oklahomans insure against having their homes become a casualty of the depressed real estate market.
The insurance is called Home Value Protection, and policies are sold only for owner-occupied primary residences. According to the Oklahoma Department of Insurance, the state licensed the company as an insurance carrier in December.
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