Business Insurance

Is Your Commercial Property Properly Protected?

By Russ Lowry • June 3, 2026 • Updated August 6, 2026 • 2 min read

Key Figures

Figure	Value	Source
Oklahoma record annual tornado count	152 tornadoes in 2024 — highest annual total on record since 1950	NWS Norman, Monthly/Annual Oklahoma Tornado Statistics (2024) — https://www.weather.gov/oun/tornadodata-ok-monthlyannual
Cleveland County tornado count, 1950–2025	111 tornadoes — ranked 5th among Oklahoma counties	NWS Norman county tornado totals (1950–2025) — https://www.weather.gov/oun/tornadodata-ok-totalsbycounty
May 20, 2013 Newcastle–south OKC–Moore tornado rating	EF-5, striking the Newcastle, south OKC, and Moore areas in McClain and Cleveland Counties	NWS Norman storm survey (2013-05-20) — https://www.weather.gov/oun/events-20130520
2013 Moore EF-5 tornado path	Approximately 14-mile path length, on the ground approximately 40 minutes, preliminary maximum path width 1.1 miles	NWS Norman storm survey (2013-05-20) — https://www.weather.gov/oun/events-20130520

Many commercial property owners focus on keeping their buildings occupied and generating income, but one of the most important responsibilities is making sure the property is insured to its current value. Construction costs have increased dramatically over the past several years, and many buildings that were adequately insured a few years ago may now be underinsured. If a major loss occurs, inadequate limits can result in significant out-of-pocket expenses and even coinsurance penalties.

Around here, “major loss” is not hypothetical: NWS Norman recorded 152 tornadoes statewide in 2024 — the highest annual total on record — and Cleveland County has logged 111 since 1950, including the May 20, 2013 EF-5 that struck the Newcastle, south OKC, and Moore areas.

It’s also important to let your insurance agent know about any updates or improvements you’ve made to the property. Renovations such as roof replacements, HVAC upgrades, electrical improvements, tenant build-outs, or building additions can all impact the value of the property. Keeping your policy updated ensures that the improvements you’ve invested in are properly protected if a loss occurs.

For landlords and commercial real estate investors, tenant insurance is another critical layer of protection. Every tenant should carry their own General Liability policy and, when appropriate, contents coverage for their business property. Even responsible tenants can make mistakes, and their customers can create situations that lead to injuries or property damage. Requiring tenants to maintain insurance helps protect both the tenant and the building owner when claims arise.

Finally, always notify your insurance agent if a property becomes vacant. Many commercial property policies contain vacancy provisions that can reduce or restrict coverage after a building has been vacant for a specified period of time. Whether you’re between tenants, remodeling a space, or actively marketing the property for lease, keeping your agent informed can help prevent unexpected coverage issues. A quick annual review of your commercial property coverage can help ensure your investment remains protected from costly surprises.

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