Oklahoma Insurance Professionals LLC Blog |
 Every fall, Norman fills up fast on home game weekends. Hotels sell out months in advance, and a lot of homeowners near campus have figured out there's real money in renting their place out for a weekend instead of leaving it empty. Some do it two or three times a season.
Some do it for every home game. Either way, it's become a normal side income for a lot of people who live anywhere near the stadium, and that circle has grown to include parts of Moore and south Oklahoma City too, since OU weekend crowds spread out once the closer options are booked. Here's the part most people don't think about until something goes wrong. Does your insurance actually cover a house full of strangers for one weekend? For most homeowners, the honest answer is no, not the way they assume.  We have written a lot of articles on this blog over the years, and I hear from clients now and then that it is hard to know which one actually applies to their situation. That is fair.
A homeowner near OU in Norman has different concerns than someone in south Edmond, and a landlord in Moore is reading this for a totally different reason than a first-time buyer in Oklahoma City. So we put together this page as a starting point. Find the section that matches your situation, and you should land on the right article the first time.  If you have lived in Oklahoma for any length of time, you have thought about a storm shelter. Maybe you already have one. Maybe you have priced one out after a bad spring and talked yourself out of it once the sky cleared up. Either way, I get asked the same question every storm season.
Does putting in a shelter actually change what you pay for insurance? The honest answer is that it can, but not automatically, and not the same way for every homeowner. A shelter is one piece of the broader storm readiness picture I encourage every client to put together, but it is the one piece that can also touch your premium. Here is how I walk clients through it.  Hail hits Oklahoma City harder than almost anywhere else in the country. If you've owned a home here for more than a season or two, you've probably already had a roof inspection after a storm, or you know someone who has. The claim itself usually isn't the hard part. The hard part is understanding what you're actually on the hook for before the check from your insurance company shows up.
I get some version of this question from clients every storm season: why is my deductible so much higher for wind and hail than it is for everything else? Let's walk through it.  If you own a rental property in Moore, you already know the weather here doesn't mess around. What a lot of landlords don't know is that their landlord policy handles that risk differently than the homeowner policy they had before they started renting the place out.
I get this call a lot. Someone bought a starter home in Moore years ago, moved out, decided to rent it rather than sell it, and never gave the insurance a second thought. The mortgage got paid. The renters paid on time. Nobody looked hard at the policy until a hailstorm came through and the claim didn't go the way they expected. Is your rental property actually covered the way you think it is? Let's walk through what's different about insuring a rental in Moore, and where the gaps usually show up. |
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