Oklahomans to have access to financing for hail-resistant roofs

The Strengthen Oklahoma Homes Act will allow Oklahomans to apply for grants to fortify their homes against severe weather. Grant applications will be available in early 2025. (Photo by Barbara Hoberock/Oklahoma Voice)

OKLAHOMA CITY – Oklahomans will soon have access to financing to upgrade their homes with severe weather-averse roofs.

In May, the Strengthen Oklahoma Homes Act was signed into law. It allows Oklahomans to apply to a grant program that would provide severe hail-resistant roofs, impact-resistant shingles and rain-resistant attic vents.

The law will go into effect Nov. 1, but applications will not be available until early 2025.

Sen. Dewayne Pemberton, R-Muskogee, chairman of the Insurance and Retirement Committee, said the goal is to bring insurance costs down.

“It’ll bring the cost of rebuilding down and hopefully impact insurance rates for all of us across the state of Oklahoma, because right now, insurance is God-awful high,” Pemberton said.

He estimated the program could support 5,000 grants per year.

Applicants must have an Oklahoma Insurance Department-approved home inspector visit their house. After the project is approved and completed, the Oklahoma Insurance Department will pay the roofing contractor directly.

However, the grant will not cover the home inspection cost, said Ashley Scott, Oklahoma Insurance Department government & community affairs director.

“We hope to cover all the costs associated with the upgraded materials, but the grant will not cover the cost of the entire roof replacement,” Scott said in an email.

To apply, homes must be in good condition unless there has been severe weather damage. Proof of an active homeowners insurance policy with wind coverage is required. If the house is in a special flood hazard area, an in-force flood insurance policy is also required.

The program has a $10 million cap each year and can use up to 50% of the remaining balance in the Insurance Departments Revolving Fund, Scott said.

The program is expected to have $10 million for its first year, she said.

Oklahoma Insurance Commissioner Glen Mulready said in a statement that he hopes the program will help fortify homes.

“I’m looking forward to helping Oklahomans make their homes more resilient to disasters and bringing some relief amid rising prices through this pivotal new program launching next year,” Mulready said.

If enhancements are made to homes through the grant program, Mulready said homeowners could qualify for discounts up to 42% on their insurance premium.

Rep. Mark Tedford, R-Tulsa, said the program will be helpful to Oklahomans wanting to rebuild after experiencing storm damage.

“That’s really the goal of it, is to, this to be an investment… to plant the seed to start people thinking, you know, encourage people to take the step, to pay that a little bit extra to fortify their homes,” Tedford said.

State governments have clamored to keep insurance companies providing for their citizens. Many companies have left or increased coverage costs residents can’t keep up with, citing climate change-driven disasters that put them at a loss.

Kim Kaufman, a spokeswoman for State Farm, said in a statement that the agency is a “long-time supporter of the Insurance Institute for Business & Home Safety and its FORTIFIED program.”

“We support Oklahoma’s willingness to help find practical ways for its citizens to improve building techniques that enhance community safety and resilience, as well as mitigate damage to their properties,” she said.

The program will help Oklahomans save, Scott said in an email.

“With a fortified roof families will have less claim exposure, which translates to them not having to get a new roof each year and saving on their deductibles,” Scott said. “The more homes that are fortified, the more likely Oklahomans will see reduced premiums across the state.”

The grant program will end Nov. 1, 2027.

However, Pemberton said he thinks there is a “good chance” it will be renewed.

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