Landlord’s Guide to Get OKC Storm Damage Claim for Rental Property

Oklahoma City’s severe weather, including hailstorms and tornadoes, often leaves rental properties with hidden damage. As a landlord, navigating insurance claims can be daunting. Drawing from 20+ years of experience managing properties across Oklahoma City, Edmond, Norman, Moore, and other OKC metro areas, I’ll share the top three actionable strategies to maximize your OKC rental storm damage claim outcomes.

Before that, I’ll share my post experience of the hail storm on May 19, 2024. I had a contractor who has done a few roofing projects for me and did my first several roofs without giving it too much thought. He talked a good game but really wasn’t much help when it came to working with the insurance companies. I also got complaints about the work crews from tenants which was not pleasant. It’s important to understand the difference between actual cash value and replacement cost coverage, as this can significantly impact the reimbursement you receive. Also, homeowners’ insurance typically does not cover damages or liabilities associated with operating a business from home.

However, one of the houses I sold on owner financing was heavily impacted by the storm. The individual I sold the house to had her own insurance set up. She also hired her own contractor, Trademark, a company that specialized in repairing storm-damaged properties. I was involved in the process because of the way our contract was set up. Renters insurance is essential for protecting personal belongings against fire incidents, and tenants should be aware of financial responsibilities such as deductibles and security deposits, highlighting how much money they must pay before insurance coverage kicks in.

What I found was that the project manager for the roofing company was very skilled in working with the insurance companies to make sure that no details were overlooked. For example, on the first house of mine, I had him work on, He found that the insurance adjuster had miscalculated the actual number of squares of shingles required to reroof the house. It also required new decking and had some interior damage from leaks, etc. Landlords need to go through proper legal channels involving the court system before taking actions like evicting tenants. Additionally, thorough documentation and prompt communication with insurers are crucial when filing claims for property damage.

I ended up having to pay far less out of pocket to fix this property than I expected. The benefit of renters insurance in providing essential protection for personal belongings cannot be overstated. It’s also important to note that insurance policies often exclude physical damage resulting from intentional acts by the insured. Negligence from a neighbor can affect insurance claims for property damage, and the tenant’s role in property-related insurance claims is significant.

Tip 1: Work With a Property Management Company Specializing in Storm Damage Claim

So my first tip is to work with a company that specializes in storm damage and is skilled in working with insurance companies. The key is to get them working directly with the insurance company so you don’t have to. It’s also important to maintain communication with the insurer during the claims process to ensure everything is documented and managed effectively.

However, the project manager should insist on meeting the adjuster at the property so he can make sure the adjuster sees all the damage. In addition, the property manager can put together an estimate for the adjuster. Negligence from a contractor can affect the outcome of the claims process, so it’s crucial to work with reliable professionals. Tenants should also address repairs promptly to avoid further complications.

For example, On one of the properties, the adjuster went to the property without bothering to tell us when he’d be out there. He called me to say there was absolutely no storm damage, hearing that I was shocked. Then, I told him my contractor had documented extensive damage and later set up a meeting with him and the contractor at the property. Once the contractor pointed out the damage, the adjuster totaled the roofs. The tenant’s role in property-related insurance claims is significant, as their actions can impact the storm damage claim process. Additionally, it’s the landlord’s responsibility to maintain and repair the structure of the building to ensure safety and compliance.

Liability protection is a crucial component of renters insurance, covering potential legal expenses arising from tenant-related incidents.

Tip 2: Make sure the Contractor Looks After The Property Perfectly

My second tip is therefore to have your contractor meet the adjuster at the project. Make sure your contractor takes a look at the property – don’t take the word of the adjuster. The adjuster may not even get up on the roof, as in the above story.

Negligence from a contractor can affect the outcome of the claims process, so it is crucial to choose a reliable professional. Additionally, tenants should address repairs promptly to prevent further damage and ensure safety.

Tip 3: Look After All Property [ You Might Not Be Aware of All Storm Damage ]

My third and final tip is to have your contractor look at absolutely all of your properties. You may have storm damage that you aren’t aware of. Their negligence can affect the outcome of the claims process, so it’s crucial to ensure thorough inspections. Do you know? By using this strategy, I ended up with a number of new roofs that I wouldn’t have had otherwise because I wasn’t aware of the extent of the storm damage to some of my properties, and those of some of my clients.

Maintain communication with both your insurance agent and insurer during the claims process to ensure everything is handled smoothly and efficiently.

If you have questions about how to handle storm damage on your OKC rental property, call us for property management in OKC at 405-232-5800.

Conclusion

Storm damage claim for a rental property in Oklahoma City is a very crucial part of OKC property management. It is important to maintain communication with the insurer during the claims process to ensure effective claim management.

Every financing work and all the legal paperwork for the hail storm damage claim needs a lot of work. Negligence from a contractor can affect the outcome of the claims process.

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