Archive for Home Insurance

Top 5 Homeowner Insurance Companies in Oklahoma

Oklahoma home insurance rates increased roughly 30% during a 5 year period ending in 2017 despite the fact that our weather was pretty good in 2014 – 2017.

These increases have Oklahoma homeowners scrambling to find quality home insurance with stable companies without the high cost that many insurers are still trying to charge.

In our opinion, the following 5 companies offer the greatest home insurance value in Oklahoma and, in our opinion, these companies will have the best chance of saving Oklahoma consumers money as you seek quotes for your homeowners insurance needs. All  5 of these companies offer outstanding coverage, excellent claims service,  they usually have a lower cost than competitors and they offer good rates on car and home insurance bundles.  

     1.  Progressive Insurance

     2.  Safeco Insurance ( a Liberty Mutual Company)

     3.  Travelers Insurance

     4.  State Farm Insurance

     5. Allstate Insurance   

Statewide Insurance Agency represents Progressive, Safeco and Travelers Insurance but not State Farm or Allstate.  

Statewide Insurance Agency

okstatewide.com

 

Meet our home insurance professionals….now and at renewal

I am very thankful for this team of professionals that serve our customers everyday with quality homeowners insurance and car insurance at prices that are usually lower than our competition.  Moreover, we monitor every renewal for accuracy and competitiveness.  Our goal is to place your home and car insurance with one of our quality companies that you can build a long term relationship with.  However, we all know that, occasionally, that doesn’t happen….our renewal process allows us to see these issues and start working on them well before the policy renews.

Our Specialty: Home and car insurance in Oklahoma….we don’t try to be experts in all lines of insurance.

Our Experience:  As of this writing, every staff person has an Oklahoma Agents License to service and sale and our staff of 7 has 108 years of combined personal insurance experience.

Our Motivation:  We desire slow, steady growth through long term client relationships.

Our Commitment:  To place your best interest above our own.

Statewide Insurance Agency

“Okstatewide.com – when you tired of fighting homeowners insurance in Oklahoma”

 

The price you pay for your homeowners insurance can vary by hundreds of dollars, depending on the insurance company you buy your policy from. Here are some things to consider when buying homeowners insurance.

  1. Shop around

    It’ll take some time, but could save you a good sum of money. Ask your friends, check the Yellow Pages or contact your state insurance department. (Phone numbers and Web sites are on the back page of this brochure.) National Association of Insurance Commissioners (www.naic.org) has information to help you choose an insurer in your state, including complaints. States often make information available on typical rates charged by major insurers and many states provide the frequency of consumer complaints by company.

    Also check consumer guides, insurance agents, companies and online insurance quote services. This will give you an idea of price ranges and tell you which companies have the lowest prices. But don’t consider price alone. The insurer you select should offer a fair price and deliver the quality service you would expect if you needed assistance in filing a claim. So in assessing service quality, use the complaint information cited above and talk to a number of insurers to get a feeling for the type of service they give. Ask them what they would do to lower your costs.

    Check the financial stability of the companies you are considering with rating companies such as A.M. Best (www.ambest.com) and Standard & Poor’s (www.standardandpoors.com/ratings) and consult consumer magazines. When you’ve narrowed the field to three insurers, get price quotes.

  2. Raise your deductible

    Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim, according to the terms of your policy. The higher your deductible, the more money you can save on your premiums. Nowadays, most insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25 percent. Remember, if you live in a disaster-prone area, your insurance policy may have a separate deductible for certain kinds of damage. If you live near the coast in the East, you may have a separate windstorm deductible; if you live in a state vulnerable to hail storms, you may have a separate deductible for hail; and if you live in an earthquake-prone area, your earthquake policy has a deductible.

  3. Don’t confuse what you paid for your house with rebuilding costs

    The land under your house isn’t at risk from theft, windstorm, fire and the other perils covered in your homeowners policy. So don’t include its value in deciding how much homeowners insurance to buy. If you do, you will pay a higher premium than you should.

  4. Buy your home and auto policies from the same insurer

    Some companies that sell homeowners, auto and liability coverage will take 5 to 15 percent off your premium if you buy two or more policies from them. But make certain this combined price is lower than buying the different coverages from different companies.

  5. Make your home more disaster resistant

    Find out from your insurance agent or company representative what steps you can take to make your home more resistant to windstorms and other natural disasters. You may be able to save on your premiums by adding storm shutters, reinforcing your roof or buying stronger roofing materials. Older homes can be retrofitted to make them better able to withstand earthquakes. In addition, consider modernizing your heating, plumbing and electrical systems to reduce the risk of fire and water damage.

  6. Improve your home security

    You can usually get discounts of at least 5 percent for a smoke detector, burglar alarm or dead-bolt locks. Some companies offer to cut your premium by as much as 15 or 20 percent if you install a sophisticated sprinkler system and a fire and burglar alarm that rings at the police, fire or other monitoring stations. These systems aren’t cheap and not every system qualifies for a discount. Before you buy such a system, find out what kind your insurer recommends, how much the device would cost and how much you’d save on premiums.

  7. Seek out other discounts

    Companies offer several types of discounts, but they don’t all offer the same discount or the same amount of discount in all states. For example, since retired people stay at home more than working people they are less likely to be burglarized and may spot fires sooner, too. Retired people also have more time for maintaining their homes. If you’re at least 55 years old and retired, you may qualify for a discount of up to 10 percent at some companies. Some employers and professional associations administer group insurance programs that may offer a better deal than you can get elsewhere.

  8. Maintain a good credit record

    Establishing a solid credit history can cut your insurance costs. Insurers are increasingly using credit information to price homeowners insurance policies. In most states, your insurer must advise you of any adverse action, such as a higher rate, at which time you should verify the accuracy of the information on which the insurer relied. To protect your credit standing, pay your bills on time, don’t obtain more credit than you need and keep your credit balances as low as possible. Check your credit record on a regular basis and have any errors corrected promptly so that your record remains accurate.

  9. Stay with the same insurer

    If you’ve kept your coverage with a company for several years, you may receive a special discount for being a long-term policyholder. Some insurers will reduce their premiums by 5 percent if you stay with them for three to five years and by 10 percent if you remain a policyholder for six years or more. But make certain to periodically compare this price with that of other policies.

  10. Review the limits in your policy and the value of your possessions at least once a year

    You want your policy to cover any major purchases or additions to your home. But you don’t want to spend money for coverage you don’t need. If your five-year-old fur coat is no longer worth the $5,000 you paid for it, you’ll want to reduce or cancel your floater (extra insurance for items whose full value is not covered by standard homeowners policies such as expensive jewelry, high-end computers and valuable art work) and pocket the difference.

  11. Look for private insurance if you are in a government plan

    If you live in a high-risk area — say, one that is especially vulnerable to coastal storms, fires, or crime — and have been buying your homeowners insurance through a government plan, you should check with an insurance agent or company representative or contact your state department of insurance for the names of companies that might be interested in your business. You may find that there are steps you can take that would allow you to buy insurance at a lower price in the private market.

  12. When you’re buying a home, consider the cost of homeowners insurance

    You may pay less for insurance if you buy a house close to a fire hydrant or in a community that has a professional rather than a volunteer fire department. It may also be cheaper if your home’s electrical, heating and plumbing systems are less than 10 years old. If you live in the East, consider a brick home because it’s more wind resistant. If you live in an earthquake-prone area, look for a wooden frame house because it is more likely to withstand this type of disaster. Choosing wisely could cut your premiums by 5 to 15 percent.

    Check the CLUE (Comprehensive Loss Underwriting Exchange) report of the home you are thinking of buying. These reports contain the insurance claim history of the property and can help you judge some of the problems the house may have.

    Remember that flood insurance and earthquake damage are not covered by a standard homeowners policy. If you buy a house in a flood-prone area, you’ll have to pay for a flood insurance policy that costs an average of $400 a year. The Federal Emergency Management Agency provides useful information on flood insurance on its Web site at www.fema.gov/nfip/. A separate earthquake policy is available from most insurance companies. The cost of the coverage will depend on the likelihood of earthquakes in your area. In California the California Earthquake Authority (www.earthquakeauthority.com) provides this coverage.

If you have questions about insurance for any of your possessions, be sure to ask your agent or company representative when you’re shopping around for a policy. For example, if you run a business out of your home, be sure to discuss coverage for that business. Most homeowners policies cover business equipment in the home, but only up to $2,500 and they offer no business liability insurance. Although you want to lower your homeowners insurance cost, you also want to make certain you have all the coverage you need.

https://www.iii.org/article/twelve-ways-to-lower-your-homeowners-insurance-costs

www.iii.org

 

Oklahoma homeowner insurance quotes don’t have to take your breath away!  Take 60 seconds to find out why consumers choose us for their Oklahoma homeowners insurance needs.  More importantly, our customers stay with us because we review every policy as it renews each year to make certain you are getting the best deal possible.

 

How can I find a cheap home insurance quote?

The cheapness of the home insurance quotes you will receive depends on a number of factors. Depending on the location and worth of your home and your belongings, you can get home insurance for as little as $400 a year, but you may also not be able to find a quote cheaper than $1,400 per annum, no matter what cash-saving techniques you apply.

In states such as Wisconsin, Utah, Maine, Ohio and Idaho, where home insurance is cheaper than the national average (which is around $800), price is usually not such a delicate issue when looking for the best home insurance quote. There are states, however, where finding a cheap home insurance quote is a tough mission requiring months of research.

Home owners living in high-risk areas exposed to natural disasters pay some of the highest home insurance premiums nationwide, and some of them may not even be able to purchase any insurance protection for their homes because of the likelihood of natural disasters. A lot of home insurance companies, for example, withdrew from Louisiana after Hurricane Katrina battered New Orleans.

Similarly, because Florida suffers the devastating consequences of the hurricane season, which hits the south-eastern coast of America every summer, some home owners have to pay exorbitant premiums to have their property insured. The same applies to the states of Texas, California, Mississippi, to name just a few.

Tips for Finding the Cheapest Home Insurance Quote

As illustrated above, cheapness is relative when it comes to home insurance. What is considered cheap in one state may be considered expensive in another. This is why, knowing the average annual home insurance premium is very important: measuring all the quotes you obtain against the state’s average will give you a relative idea what a good-price policy is. From then you can go on to apply the following money-saving tips:

• Rule of thumb when looking for home insurance is to make sure all the perils your home is exposed to, are covered under the policy. Compare each home insurance quote according to coverage, exclusions, and riders available. You should get adequate coverage for a fair price.

• Use all the discounts that your insurance provider may offer. You can save a substantial amount of cash in home insurance premiums if you qualify for the insurance company’s discounts.

• Never file a minor claim, otherwise you risk losing your policy.

Read article on the InsuranceQnA Site

 

Your home is the center of your daily life, and likely your most valuable asset. When your home is damaged or destroyed, you need your claim settled by an insurance company that understands this simple fact.  Statewide Insurance Agency can help you find the homeowner’s insurance quotes that will best meet your needs and provide the most valuable combination of tailored coverage, quality service and fair pricing.

Insurance Quotes for All Kinds of Homes

Depending on where you live – a house, apartment, or condominium – the right home insurance policy can provide you peace of mind as well as the money you need to repair or replace your home and/or belongings. Contact us for more information today! 

Oklahoma– What you need to know about homeowners insurance

Whether you own or rent, insuring the place you call home can help protect you financially if you suffer a loss due to fire, theft, vandalism, or other covered events. It will also cover you in the event someone is injured while on your property and wins a legal judgment against you.

Homeowners policies differ by which losses are covered, which coverages you choose, and what type of residence you own. You choose which policy is best for you, whether it’s a comprehensive policy that cover losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or whether it’s a policy that covers only specified losses.

Statewide Insurance Agency is here to help you find the right insurance for your home

Whether you’re a home or condo owner, a renter, or a landlord,  Statewide Insurance Agency will work with you to find a home insurance quote that fits your needs. We specialize in making it easy to choose the home insurance coverage that gives you the best value for the best price.

Your home insurance policy is most often made up of the specific options you choose, so how much you’ll pay for your policy depends on:

  • What you select. Oftentimes homeowners insurance options are priced individually, so how much you’ll pay for your policy depends on what coverages you buy.
  • How much you want to cover. Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
  • Where you set your limits. You may choose to set higher limits than the recommended amount if appropriate to your situation and needs.
    • Worried you aren’t completely covered? Consider an umbrella insurance policy that extends your coverage. 

The Right Coverage. The Right Price. The Right Value

The amount you pay for your homeowners insurance depends on many factors. Think of your personal housing situation, and the assets you want to protect.

Protection for Your Home

Property or Dwelling Coverage typically pays to repair or rebuild your home if it’s damaged or destroyed by an insured event like a kitchen fire or windstorm.

Protection for You and Other People

Personal Liability Coverage applies if someone is injured or their property is damaged and you are to blame. The coverage generally applies anywhere in the world.

  • When choosing your liability coverage limits, consider things like how much money you make and the assets you own. Your personal liability coverage should be high enough to protect your assets if you are sued.

Medical Coverage

This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household.

Additional Living Expenses

If you can’t live in your home because of a covered loss, your home insurance policy will pay additional living expenses—commonly for up to 24 months—while damage is assessed and your home is repaired or rebuilt.

Protection for Your Belongings

Your home is filled with furniture, clothes, electronics and other items that mean a lot to you. Personal Property Insurance helps replace these items if they are lost, stolen or destroyed as a result of a covered loss.

Scheduled Personal Property Coverage

If you have special possessions such as jewelry, art, antiques or collectibles you may want to talk to your agent about this additional coverage. It provides broader coverage for specific items.

If You Rent Out Your Home

Landlords may have the option to buy optional liability coverage for the risks posed by tenant-occupied dwellings. Visit our Landlord Protection Insurance page for more information.

Edmond, Guthrie, Oklahoma City, Yukon, Midwest City, Choctaw, Moore and Norman – Protect the Things that Matter to You

Make an inventory of your home and personal belongings. If possible, make a list as well as take photos or video – using two inventory methods can help expedite the claim resolution process. Keep this list somewhere other than your home. Keep in mind that your policy doesn’t cover damages caused by poor or deferred maintenance on your part.

Every home is unique – talk to us today to find out how to get the best price and value on homeowners insurance for you. 

 

 

Pursuing Home Insurance Solutions

Quality home insurance in Oklahoma doesn’t have to break your bank account. We offer top quality homeowner and car insurance products and, our ability to quote multiple companies, ensures you get a solid price. Moreover, we will monitor your policy at each renewal to take advantage of any company changes that impact your policy.

Statewide Insurance Agency continues to place a high value in our relationship with Safeco Insurance (a wholly owned subsidiary of Liberty Mutual Insurance) to provide our customers with long term value on their Oklahoma home insurance and their Oklahoma auto insurance.  

Cheap home insurance rates in Oklahoma aren’t enough!  Oklahoma home insurance companies also have to provide consumers with a long term value package that includes excellent coverages and great agency service to go with the low home insurance rates and low car insurance rates.  Today’s consumers are well-read and able to compare home insurance quotes from several companies in a short amount of time.  These high demands eliminate many home insurance companies in Oklahoma from being able to offer long term insurance value.  Safeco Insurance is a company that we trust and believe you can too.  Here a few facts about Safeco…. 

THEY MAKE HOME INSURANCE EASY FOR HOMEOWNERS IN OKLAHOMA
Safeco offers 24/7 claims service and online account management tools.

ALL THE PRODUCTS EDMOND HOMEOWNERS NEED IN ONE PLACE.
Auto, home, motorcycle, boat, RV…you name it, chances are Safeco covers it.

LOCAL AGENTS, EXPERT ADVICE.
You’ll work with a local home insurance agent, like me, to get the coverage and home insurance quote you need at the right price.

THEY’LL BE THERE.
Safeco has been in business since 1923 and is backed by the financial strength of Liberty Mutual.

Insuring A Vacation Home

A vacation home can be a wonderful luxury and sometimes even a good investment, but there are some important factors to consider before making the leap into second-home ownership—such as insurance costs. Just like your primary home, you’ll need to insure your vacation home against burglary, fire, weather damage, liability and other risks. Because insurance can add significantly to the price of buying and owning a vacation home, you may want to consider the likely insurance costs before deciding on a specific property.

Key Factors Impacting Vacation Home Insurance Costs

For a number of reasons, insurance for a vacation home can be more expensive than the coverage on your primary residence. Notably, your second home may often be unoccupied, putting it at greater risk for theft, vandalism and undetected damage, like burst water pipes. When you shop for a vacation home, it’s important to recognize that the following factors will impact your insurance costs:

Location—The location of any home is always a factor in pricing insurance policies, but it can be especially significant for vacation homes. The very location that makes a vacation home desirable may also make it more expensive to insure. For instance, a ski house or hunting lodge in a remote or mountainous area could be at greater risk for damage due to wildfire. A beach house may be more exposed to wind damage or storm surge from a hurricane. These location-based risks will impact the price of coverage, and in some cases may even incur higher deductibles.

In addition, if the home is located in a flood zone, you’ll be required to purchase a separate flood insurance policy. Flood damage is not covered by standard homeowners insurance policies, but coverage is available from the National Flood Insurance Program (NFIP) and from some private insurance companies. The cost of NFIP flood insurance for second homes has been increasing and there are also special surcharges that you will be required to pay. You can check the cost of flood insurance for a specific location by going to www.floodsmart.gov. You can also lower your insurance costs by choosing a location with less risk—for instance, further from the beach, down the mountain or in a gated community where there is security.

Type of Property—As is the case with any house, a vacation home’s age and types of building materials used will impact the cost of insurance. In addition, these costs will vary depending on whether your second home is a single-occupancy house, a condominium or a townhouse. A condominium, for instance, may have lower insurance costs because the homeowners association maintains and insures the exterior of the property and may provide security. Generally, the cost of insuring the structure of the unit will be included in the monthly maintenance fees. Your personal condo insurance will cover your belongings and specific areas of the unit listed in the policy.

Amenities—If your vacation home has a pool, hot tub or other special amenity that adds risk, you may pay a higher insurance premium. You may also want to purchase more liability protection as these items are considered “attractive nuisances” that lead to a higher probability of liability claims being filed.

Ways to Save on Second Home Insurance Costs

While the price of insurance will increase the total cost of ownership of a second home, there are steps that you can take to help make insurance more affordable:
Bundle Your Policies—If you insure your second home with the same insurer that provides coverage for your primary residence, you may be able to save 5 to 10 percent.
Install an Alarm System—A centrally monitored alarm system that detects both fire and break-ins can help lower the cost of insurance on your second home.
Shop Around—Get at least three quotes for coverage on your second home. It pays to shop around, both when you first purchase a policy and before you renew your policy each year.

Will You Rent Your Property?

If you plan to rent your vacation home to others, your homeowners insurance costs will likely increase, and you may need to purchase additional coverage. Your insurance needs will depend on how often you rent out the property and for how long. For a one-time short-term rental, you may be able to add a simple extension (an “endorsement”) to your existing homeowners policy. On the other hand, if you plan to regularly rent out your second home, you may need separate business coverage or a landlord policy. While some rental services, such as Airbnb and VRBO, offer coverage for homeowners, it’s important to read the fine print to determine limits and exclusions.

Because renting your second home entails additional, more complex risks, it’s a good idea to consult with your insurance professional. For more information, read the I.I.I.’s article, “What Type of Insurance Do I Need If I’m Renting out My Home?”

TIP

You’ll probably be furnishing your new vacation home as well as keeping clothing and equipment there to use when you visit. To help keep track of your possessions and file an insurance claim if necessary, create a home inventory with all of the items you’ll be keeping in the house. The I.I.I. provides a free Web- and app-based inventory tool, Know Your Stuff®, which makes it easy to store information and photos of your possessions, all in one place. The tool also allows you to set up various homes, each with their own inventory, and move items from one to the other.

By Insurance Information Institute

 
Insurance Information Institute
 

Which Disasters Are Covered by Homeowners Insurance?

Standard homeowners policies generally cover a wide range of potential disasters, from tornadoes and windstorms, to fire and lightning strikes, to winter storm damage caused by weight of ice and snow. Most homeowners policies cover all the disasters listed below. Some policies provide coverage only for the first 10 listed. It is important to check check your insurance policy for the specific perils covered.

WHAT TYPE OF DISASTERS ARE COVERED?

 
  Dwelling & personal property Dwelling Personal property  Dwelling & personal property
Perils Basic
HO-1*+
Broad
HO-2*
Special
HO-3*
Special
HO-3
Renters
HO-4
Condo/
Co-op HO-6
Modified
Coverage HO-8
1. Fire or lightning x x x x x x x
2. Windstorm or hail x x x x x x x
3. Explosion x x x x x x x
4. Riot or civil commotion x x x x x x x
5. Damage caused by aircraft x x x x x x x
6. Damage caused by vehicles x x x x x x x
7. Smoke x x x x x x x
8. Vandalism or malicious mischief x x x x x x x
9. Theft x x x x x x x
10. Volcanic eruption x x x x x x x
11. Falling object   x x x x x  
12. Weight of ice, snow or sleet   x x x x x  
13.  Accidental discharge or overflow of water or steam from within a plumbing, heating, air conditioning, or automatic fire-protective sprinkler system, or from a household appliance.   x x x x x  
14. Sudden and accidental tearing apart, cracking, burning, or bulging of a steam or hot water heating system, an air conditioning or automatic fire-protective system.   x x x x x  
15. Freezing of a plumbing, heating, air conditioning or automatic, fire-protective sprinkler system, or of a household appliance.   x x x x x  
16. Sudden and accidental damage from artificially generated electrical current (does not include loss  to a tube, transistor or similar electronic component)   x x x x x  
17. All perils except flood, earthquake, war, nuclear accident, landslide, mudslide, sinkhole and others specified in your policy. Check your policy for a complete list of perils excluded.     x        

* HO-1, HO-2 and HO-3 refer to standard Homeowners Policies.       
       
+HO-1 has been discontinued in most states.

Disasters That Are Not Covered

1. Floods

Flood damage is excluded under standard homeowners and renters insurance policies. Flood coverage, however, is available in the form of a separate policy both from the National Flood Insurance Program – NFIP ( 888-379-9531) and from a few private insurers.

You can get replacement cost coverage for the structure of your home, but only actual cash value coverage is available for your possessions. There may also be limits on coverage for furniture and other possessions stored in your basement.

Flood insurance is available for renters as well as homeowners. You will need flood insurance if you live in a designated flood zone. But also consider buying it if your house could be flooded by melting snow, an overflowing creek or water running down a steep hill. Don’t wait until the evening news announces a flood season warning to buy a policy. There is a 30-day waiting period before federal flood coverage takes effect.

2. Earthquakes

Earthquake coverage can be a separate policy or an endorsement to your homeowners or renters policy. It available from most insurance companies. In California, it is also available from the California Earthquake Authority. In earthquake prone states like California, the policy comes with a high deductible.

3. Maintenance damage

It is your responsibility to take reasonable precautions to protect your home from damage. Your insurance policy will not cover damage due to lack of maintenance, mold, termite infestation and infestation from other pests.

4. SEWER BACK-UP

Sewer backups or the inability of sump pumps to handle runoff water from major downpours are not covered under a typical homeowners insurance policy, nor are they covered by flood insurance. Those types of coverage must be purchased either as a separate product or as an endorsement to a homeowners policy.”
 
Sewer backup coverage is available from most insurers for a nominal cost—usually an additional annual premium of $40-$50.
 
Many homeowners may not realize that they are responsible for the maintenance and repair of their house or sewer lateral—the pipeline between the city sanitary sewer main, usually located in the street—and the building. The sewer lateral is owned and maintained by the property owner including any part that extends into the street or public right of way.