Archive for Moore home insurance

“Mindful” Insurance Decisions

In in Psychology Today, a 2009 article described mindfulness as the practice of staying in the present moment. Instead of being distracted by thinking about the future, dwelling on the past or allowing lots of white noise in your head over everything but “the now,” being mindful allows you to fully invest in the current moment and pay attention only to what’s in front of you.

Mindfulness and Insurance – There are a million things you could insure and a million things that could go wrong. But taking a step back and putting things into perspective about what truly matters to you can take the stress out of the process of deciding what to insure and what not to insure. When Oklahoman’s purchase home insurance, it’s essential you allow yourself time to be quiet and mindful. It is normal to feel anxious when thinking about all the perils facing your home and vehicle, when working on final expense and legacy planning, when imagining your future potential disabilities and anticipating all the liabilities and other negative aspects of life that make insurance necessary. To be properly insured and prepared, however, you must allow yourself to be fully invested in the process of home and auto insurance planning rather than distracted and intimidated by what-ifs.

Mindful Insurance Planning – Instead of being bullied by the unknown, be sure to stay focused on the facts while you are planning your insurance portfolio like the risks that anyone in your position may actually face and the value of the property you want to protect. It’s really that simple and knowing this will allow you to fashion a much more secure financial future.

Being frightened of a possible accident that hasn’t yet happened, or being overwhelmed by the amount of data you must consider as you buy homeowners insurance hurts rather than helps you purchase insurance. Deliberating the amounts you need to protect your family won’t make it any easier to select the types of policies that offer you the kind of protections you’re looking for. Instead, it makes you feel doubtful and powerless during what should be a very empowering process.

When you give yourself the mental space to be mindful, you can approach the task of buying insurance as practically and detached as possible. This will help you to deliberate and reason the practical risks you face each day and assign a dollar value to them. From there you can make relevant adjustments as you consider your budget versus potential premiums.

Your insurance agent can help in keeping your emotions in check and your approach to insurance planning practical. If you are ready to start looking for insurance policies that will protect you and your family, give us a call.

We are Statewide Insurance Agency and we specialize in Oklahoma homeowners insurance and Oklahoma auto insurance. https://okstatewide.com

Homeowners Insurance: "Am I Covered?"

Oklahoma homeowners often ask the question, “what does this home insurance cover?”  Coverage’s can vary a lot from one policy to another.  However, there are some things that are consistently limited or not covered at all in home policies.  Therefore, sometimes I’ll answer the question by telling my customers about these limitations.  Here are some of my top examples of things that are not covered or that have limited coverage under homeowners insurance policies in Oklahoma City, Edmond and the entire state of Oklahoma….. Rising Flood Water: Surface water and rising flood water damage is the # 1 uninsured loss in Oklahoma and the United States.  Most flood victims will tell you that they thought their home was in an area that was high enough that it would not flood. Many Oklahoma home policies do cover damage that results from a sudden rupture of water from your plumbing system or air conditioning system. Shifting Soil: Much of the soil type in Oklahoma is clay.  It expands with moisture and contracts as it dries out.  Hot and dry Oklahoma summers can result in shifts in your foundation that crack slabs and crack walls.  This type of damage is not covered by any home policy, as far as I know. Jewelry: Oklahoma home insurance policies limit coverage for theft of jewelry.  Furthermore, mysterious disappearance or a stone falling out of a setting is not usually covered unless special endorsements are purchased.  Most of your jewelry needs can be met by purchasing extra jewelry coverage.  Jewelry is usually covered up to your Personal Property policy limit in a fire loss or a tornado loss. Tools and Other Property Used In Your Business: Coverage is very limited under most policies.  You are expected to have a separate business insurance policy for these items. Sewer Back Up: This coverage is oftentimes available by endorsement.  Some companies interpret this exclusion to mean back up of a city’s main sewer line and distinguish this from an “overflow” due to a problem within your plumbing system.  I do represent one company, Safeco, that provides significant coverage for sewer back up without an extra charge. Motorized Land Vehicles: Be very careful here.  You’ll usually need a separate policy for motorcycles, dirt bikes, ATV’s, boats, trailers, etc.  However, you may be able to get coverage for a motorized wheel chair and a riding lawn mower.  You might get some coverage for a tractor if it is used “exclusively” to maintain the premises. Business Liability: Liability which arises from your business activities is almost always excluded.  Certain professions such as teachers and sales people might be able to purchase it with endorsement if you are an “employee” of someone else and not “self-employed”. Mechanical Breakdown of Appliances: This is not usually covered but is now being offered by endorsement by a growing list of companies. Damage Caused By Insects and Animals: Not Covered:  This would include damage caused by termites, dogs, squirrels, etc. This is not intended to be a comprehensive list of Oklahoma home insurance coverages, limitations and exclusions.  It is my intent to help you educate yourself so you’ll be able to shop more effectively by asking the right questions.   Von Nix, CPCU Statewide Insurance Agency https://okstatewide.com            

New Office of Statewide Insurance Agency

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Do You Have Enough Coverage to Rebuild Your Home?

Imagine how devastating it would be to lose your home in a tornado or fire. Now imagine not being able to rebuild it completely because you didn’t have the correct amount of insurance. Selecting the proper amount of coverage is the single most important decision you can make with your Oklahoma Homeowners Insurance policy. Without it, you may not have enough coverage to rebuild after a total loss. This is called “insurance to value.” Below are some explanations and tips to help you make the right choices for your needs — and remember, if you need help, Statewide is just a phone call away! What is insurance to value? Insurance to value is the relationship between the amount of coverage selected (typically listed as “Coverage A” or “Dwelling Coverage” on your policy declarations page) and the amount required to rebuild your home. Insuring your home for anything less than 100% insurance to value could mean you wouldn’t have enough coverage to replace your home in the event of a total loss Why is the cost to rebuild different from the market value? A home’s market value reflects current economic conditions, taxes, school districts, the value of the land and location, and other factors unrelated to construction cost. The cost to rebuild your home is based only on the cost of materials and labor in your area. It is important that you insure your home based on its reconstruction cost, NOT its current market value Why is reconstruction more expensive than new construction? New-home builders typically build many homes at once, and solicit bids from various sub-contractors to receive the best pricing. Their business model is based on economies of scale. For example, they may purchase 20 bathtubs at once, securing a lower unit cost. These economies of scale don’t exist when building a single home. How can I make sure I have the correct amount of insurance? Work with your agent at time of purchase to be sure that you receive an accurate quote home insurance quote. Ask us about additional coverage options that may be available. Review your insurance to value calculation on a regular basis with your agent. Tell your agent about any changes or improvements that you make to your home. What if I don’t want to rebuild? Talk to your agent, many times market value home insurance policies cost less and make sense if you aren’t interested in going through the rebuilding process. Statewide Insurance Agency – Edmond, OK

Home Inventory

Why a Home Inventory Is Important For Every Oklahoma Homeowner Let’s try a little exercise: Can you list everything you own from memory? Didn’t think so. The fact is most homeowners own more things than they realize. It’s easy to remember the cars, the computer, the TV. But what about that holiday china in the garage? Or every pair of shoes? All of it is regarded as personal property for Oklahoma home insurance purposes. And if your Oklahoma City home is destroyed by fire or some other disaster, having a list of your possessions makes filing a claim easier — and helps you put your life back together. Why should I complete a home inventory? What’s the best way? Comparing the value of your belongings to the “contents” limit listed in your policy helps you make sure you have enough insurance to replace them if they are lost, stolen or destroyed as a result of a covered loss. The easiest way to take an inventory is to use a video camera, recording and describing items as you walk through your house. Or, you can use a regular camera and create a home inventory checklist. Here are a few tips for completing and storing your inventory: Add brand names and descriptions where you can, especially on large-ticket items. Serial numbers are helpful to note. Keep any receipts you have with the list to make the claims process easier. Store your video or photo inventory offsite so you won’t lose it if your house is damaged. Update your personal property records when you purchase new furnishings and valuables. Though the task may seem daunting, it’s important to try. An incomplete inventory is better than nothing at all. How much personal property coverage do you need on your home insurance? We can assist you in analyzing your insurance needs and help you decide how to most effectively protect your personal property. You should consider getting a quote for full-value coverage, which will pay for the replacement value of your personal belongings. A standard policy typically covers personal property only up to its actual cash value, determined by taking the replacement cost and deducting depreciation, which can be substantial. (For example, a 5-year-old TV is usually worth much less than what it would cost to purchase a new one.) Finally, remember your homeowners insurance policy covers valuable items such as jewelry, furs, art and antiques, only up to set dollar amounts. If the cost of replacing them exceeds these limits, you may want to purchase scheduled personal property coverage. The Insurance Information Institute has a FREE online tool that can help you create your inventory. Just visit www.knowyourstuff.org for more details. We hope you’ll never need the home inventory, but preparing for the worst can prevent a lot of hassle later! Statewide Insurance Agency in Edmond, Oklahoma specializes in home insurance and auto insurance. Because we represent multiple companies we are better at matching customers to companies.

Moore, OK Home Insurance Quotes

When Water Goes Where It Shouldn’t

Even a small leak can become a major problem for homeowners in Moore, OK,  so knowing what you’re covered for and how to prevent water damage are equally important.  The below tips should help uncover any potential water problems down the road and keep your property dry.

Check appliance hoses.  Standard hoses are not as durable as they used to be.  Replace rubber hoses with steel-braided hoses. This is a low cost fix that can save thousands in water damage.

Broken tiles in the shower can allow water to leak into the walls or on the floor. Replace cracked tiles and re-grout when needed.

Run dishwasher and washing machine only when you are home.  If a leak occurs, you can turn the appliance off right away.

When on vacation, turn off the main water supply to your house.

Keep storm drains near your house clear of leaves.

Install a gutter guard.  This can prevent a rooftop disaster caused by drain clogs, and also prevents flooding by water that isn’t carried away from the house.

Install a water pressure gauge.  An inexpensive gauge can prevent damage caused by water pressure that’s too high.  Pressure should be between 60 and 80 PSI.

Moore homeowners can save money on their home insurance quotes by avoiding water damage losses thereby having a clean claim record.

 

 

 

Oklahoma Home Insurance – Special Limits of Liability

Homeowner insurance policies typically limit coverage for certain types of Personal Property.  Sometimes these limitations can be increased by paying  additional money and sometimes another policy can be purchased to provide more comprehensive coverage in that particular area.  Ask your agent about the personal property limitations within your policy.  While the limitations vary from company to company, the types of limitations are very similar.  For example, all policies will limit coverage for theft of jewelry, losses of cash and coins and theft of firearms, just to name a few. One of the companies we represent for home insurance is Travelers Insurance and I am copying an exert from their homeowners insurance policy that states their Personal Property Limitations within their home insurance policy…. 3. Special Limits of Liability. The special limit for each category described below is the greater of the limit shown below or the special limit for such category, if any, shown in the Declarations. Such limit is the total limit for each loss for all property in that category. These special limits do not increase the Coverage C limit of liability. a. $200 on money, bank notes, bullion, gold other than goldware, silver other than silverware, platinum other than platinumware, coins, medals, scrip, stored value cards and smart cards. b. $1,500 on securities, accounts, deeds, evidence of debt, letters of credit, notes other than bank notes, manuscripts, personal records, passports, tickets and stamps. This dollar limit applies to these categories regardless of the medium (such as paper or computer software) on which the material exists. This limit includes the cost to research, replace or restore the information from the lost or damaged material. c. $1,500 on watercraft of all types, including their trailers, furnishings, equipment and outboard engines or motors. d. $1,500 on trailers or semitrailers not used with watercraft of all types. e. $1,500 for loss by theft of jewelry, watches, furs, precious and semiprecious stones. f. $2,500 for loss by theft of firearms and related equipment. g. $2,500 for loss by theft of silverware, silverplated ware, goldware, gold-plated ware, platinumware, platinum-plated ware and pewterware. This includes flatware, hollowware, tea sets, trays and trophies made of or including silver, gold, platinum or pewter. h. $5,000 on property, on the “residence premises”, used primarily for “business” purposes. i. $1,500 on property, away from the “residence premises”, used primarily for “business” purposes. However, this limit does not apply to loss to electronic apparatus and accessories described in category j. below. j. $1,500 on electronic apparatus and accessories, while in or upon a “motor vehicle”, but only if the apparatus is equipped to be operated by power from the “motor vehicle’s” electrical system while still capable of being operated by other power sources. k. $250 on tapes, records, discs or other media that can be used with any electronic apparatus, while in or upon a “motor vehicle”.

Ordering Mexican Food at Outback

Statewide specializes in homeowners insurance and auto insurance to the Oklahoma City area.  Specializing enables us to be more effecient, more effective and just “better than most” at what we do.  I think most consumers are tired of companies and sales people trying to sell them more products and services than you want just because they may have your attention (or your email address).  Buying health insurance from the agent that sold you car insurance is usually like ordering mexican food at Outback!  http://www.okstatewide.com