As Steve Jakubowski, President of Impact Forecasting, recently noted, "Historically, May is the beginning of peak tornado season in the United States."1 Since that means tornado season remains in full swing at this point, this installment of my Oklahoma Coverage Series will address whether Oklahoma policyholders have enough coverage.


Because Oklahoma has suffered so much property devastation due to natural disasters over the years, many local Oklahoma municipalities regularly revise and upgrade their Building Codes. As a result, we get reports that policyholders must often rely on additional loss payments from their Ordinance & Law Endorsements. Having appropriate Ordinance & Law coverage is often the only manner in which Oklahoma policyholders are able to maintain coverage for the repairs needed to restore their property to pre-loss condition and comply with new Building Code requirements.


We have received reports from several policyholders who own rental property regarding their tenant’s failure to maintain Renter’s Insurance Coverage on the tenant’s personal belongings. While the owner’s coverage should get the structure repaired to pre-loss conditions, that coverage provides no help for the tenant’s lost personal property. If you are a tenant, make sure to have proper Renter’s Insurance.

Insufficient personal property coverage is not solely an issue for tenants, of course. Even policyholders that maintain adequate coverage on their structure can fall into circumstances in which they maintain inadequate coverage for their personal property.


Incredible as it may seem, we still receive reports of policyholders that were unable to rebuild their lost home or commercial structure because they simply maintained policy limits that were too low as compared to the true value of the property.


As pointed out by many of my friends and colleagues that post entries in this blog, we cannot exaggerate the importance of regularly making sure to read your insurance policy. When doing so, ask yourself (and answer!) these important questions:

  1. Do I have Ordinance & Law Coverage; if so, do I have enough?
  2. If I am a tenant, do I have enough Renters’ Insurance?
  3. If I am a landlord, have I made sure my tenant’s have Renter’s Insurance?
  4. Do I have enough coverage for my personal property?
  5. Are all of my Policy Limits enough to fully indemnify me in the event of a total loss?

Storm season is upon us. Check your policies. Check your coverages. Before it is too late, make sure to do all you can to ensure you maintain enough insurance coverage.

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