Oklahoma City weather, roofs, and insurance

16 Replies | Oklahoma City, Oklahoma

Hey all,

I'm buying a property in OKC and am considering investing more there, but a big issue on my mind is severe weather ie. tornadoes and heavy hail.  I'm finding insurance companies either charge very high rates for roof replacement coverage or you can go with Actual Cash Value which means you'll likely eventually have to shell out some cash out of pocket for roof replacement.  Can any of you who deal with severe weather chime in with your thoughts on insurance and risk to your properties from weather events?  How do you plan for these and does it eventually eat up all of your cash flow?  Thanks so much for your help!

The rates are already a part of my calculations.  More or less due to hail, you’ll be lucky if a roof goes for more than 10 years. 

Some due diligence will be to find out of it has the appropriate decking underneath.

@Chris Ivy - @Micheal Briscoe is exactly right. A roof won't go much longer than 10 years here (that I've seen!).  Have you checked around with local insurance brokers getting several home insurance rate estimates? I use as a starting point 1% insurance and 1% taxes in my analysis - then dial it in closer if the deal looks like it's worth investigating further.  

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I agree on the 10year life span for a roof in Oklahoma. Even with the 30-year shingles. Replacement Costs coverage can be more expensive but could pay for itself if we have a big hail event. Then actual cash value can depreciate down to nothing over time. As a real estate investor, though, if a hail storm hits you wouldn't necessarily have to address the roof unless its leaking if you plan to keep it long term.

Thanks for the responses guys!  It feels a little bit like a gamble.  I'll be starting with a brand new roof as of 2021, but I know for a fact it does not have decking.  It's a smaller house so the premium for replacement cost over 10 years vs the actual cost of replacement in the event of serious damage might break even.  Seems like either way it's something you have to factor in.  

Originally posted by @Chris Ivy :

Thanks for the responses guys!  It feels a little bit like a gamble.  I'll be starting with a brand new roof as of 2021, but I know for a fact it does not have decking.  It's a smaller house so the premium for replacement cost over 10 years vs the actual cost of replacement in the event of serious damage might break even.  Seems like either way it's something you have to factor in.  

 doesn't have decking? wut?

Originally posted by @Chris Ivy :

By the way, can anyone recommend a roofer in the area?  Half of the roof was recently redone, but the other half needs to be replaced.  Thanks again!

Check out Icon Roofing. Haven't dealt with them directly but they stopped after a storm, and i got pretty good vibes from them. Looked them up on Google reviews and all are 5-star as well, which is unheard of in this industry. 

Hey Victor, how do you suppose they got those 5 star reviews?  

My family recently bought a highly recommended thing from Amazon because . . . obviously if it has 7k 5* reviews it's bulletproof, right?

What was in the package, right on top, waiting to be seen as soon as we opened it?  A card that said "leave us a 5* review and recommend us to a friend, send us a screenshot of it, and we'll give you $20!"

If Icon is doorknocking and has a seemingly-amazing reputation there are at least 2 ways they could get that.