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Commercial Auto Insurance

Commercial auto insurance can cover various vehicle types (trucks, cars), drivers, and motorized equipment. It covers bodily injury liability and property damage when driving a work car, as well as medical payments or Personal Injury Protection (PIP) for the policyholder’s driver and passengers.

Auto Liability (hired/non-owned)

Do your staff drive their own automobiles, or do you rent them? This coverage protects your business against certain liabilities stemming from the usage of a rented or leased vehicle (hired) or a non-owned vehicle (employee using their own vehicle on company business). This coverage is frequently affordable when added to a company auto policy or, in certain situations, a general liability policy.

When Your Business Vehicle Is Also Your Personal Vehicle

Sometimes employees or executives of a company or other persons who are supplied with a vehicle owned by the company have only that vehicle. They do not own a personal vehicle nor do they obtain personal automobile coverage. The BACF does not cover personal use of the vehicle in this situation. To close this coverage gap, you need to add the Drive Other Car Coverage Endorsement to your BACF. This provides insurance while the named individual or a member of his or her family is driving a car borrowed from a third party.

Keeping Premiums Down

The best way to keep your business auto premiums down is to avoid accidents. Driving safety should be emphasized. Drivers should not be so pressured to produce that they feel compelled to drive unsafely. All vehicles should be well maintained.

Ask your agent whether your insurance company has business auto safety resources that you can use to help your organization be accident-free. For more information on reducing the risk of auto accidents.

When you own or run a business, you have a lot at at-risk and much to protect, and having the right business insurance coverage can be crucial to your long-term success. When it comes to protecting your business, fortunately, there are a variety of coverages to choose from. We represent a variety of carriers and are dedicated to assisting you in protecting your company from damage and liability. When you work with the team at the Oakwood Insurance Agency, you will receive personalized advice from an experienced agent who will assist you in developing a plan that includes all of the coverage you may require.

The Importance of an Annual Insurance Review

It is critical that every homeowner or business undertakes an annual insurance review. Regular reviews are equally essential to ensuring that your policy continues to be a good fit for your coverage needs and budget.

In a single year, a lot can happen that can have a significant impact on your insurance costs, coverage options, and limitations, among other things. Among these are the following:

  • Marrying or divorcing
  • Children graduating from high school/empty nest/child off to college
  • Beginning a new job
  • Recruitment of new employees
  • Purchase new commercial equipment
  • Establishing a new enterprise
  • Accepting elderly parents into your home
  • The acquisition or receipt of an ostentatious gift
  • Your immediate family member has died
  • Mortgage repayment

Is this to say that I must immediately contact my insurance agent whenever I purchase new furniture or a family member moves in for six months? Not always. While more significant changes (such as marriage, divorce, or the purchase of a new car) should be reported immediately, items such as upgrading your home entertainment system or upgrading your sound system can be reported during your annual insurance review.

Give us a call today; we are ready to review your coverage.

In 1989, Oakwood’s founder, Bruce L. Sogn, set out to establish a business that would give him the opportunity to serve the community and to fulfill a need in the marketplace. Today as an independent insurance agency, Oakwood does just that.

After researching the insurance industry, he found that by becoming an independent insurance agent, he could offer a comprehensive range of insurance products and services to his clients. By maintaining focus on competitive products, Oakwood has kept its commitment to service, professionalism, and the highest integrity.

RV Insurance 101

You probably bought your motor home or travel trailer because it offers the best of both worlds: the ability to explore the world we live in and the convenience of your home each night when you pull over. Motor homes and travel trailers offer a freedom and joy that’s unique regardless of the size of the coach or fifth wheel.

But with this dual benefit also come some increased risks. As a vehicle, your motor home needs some auto-type insurance to protect you from crashes, medical costs, and the like while you’re driving on the road. But comprehensive RV insurance needs also to protect you when you have stopped and camped. That means you need insurance closer to what you find in a homeowner’s policy that includes features such as:

Personal Liability:

Protection in case someone is injured in or around your RV

Personal Property:

Enhanced property insurance that will protect the contents of your RV in case of theft or damage.

Additional Living Expenses:

Protection that helps pay for your cost of living if you are displaced from your motor home.

Attached Accessories:

Another layer of protection that covers your awning, tv antennas, or other accessories that might be damaged.

Other RV Insurance You Should Consider Is:

  • Collision coverage
  • Comprehensive coverage
  • Uninsured motorists’ coverage
  • Rental reimbursement coverage
  • Towing coverage

Getting the right recreational vehicle insurance doesn’t have to be expensive or difficult with an insurance expert on your side.

Some policies include Roadside Assistance, which has you covered 24/7 in the event of a breakdown or accident. Some will even allow you to upgrade the coverage to include lodging, transportation, and meal coverage if needed.

Recreational and full-RV timer insurance are the two most common types. Recreational insurance will protect your RV inside and out when you’re on the road or parked at a campsite if you don’t live in it full-time. A full-time RV insurance policy is for people who live in their motorhome or travel trailer full-time. Many of the coverages will overlap with a recreational policy, but you’ll be able to add coverages like personal liability and loss assessment that are similar to homeowner’s insurance.

For your protection and well-being, Oakwood Insurance Agency offers nearly every sort of personal insurance policy you may require. Please find a short but not exhaustive selection of our most frequent personal property, health, and life policies below. An Oakwood Insurance agent will explain our full range of insurance products and services during a personal consultation and create a tailored insurance plan with the right policies for your lifestyle, personal circumstances, and comfort level.

Gasoline Theft Is On The Rise, What Can You Do?

We expect that when the price of gasoline rises, the number of occurrences of fuel theft from gas tanks will rise as well. It’s combustible, dangerous, and difficult to transport, but that hasn’t stopped thieves from attempting to obtain this increasingly valuable commodity. Gasoline. Not only is it inconvenient for victims of this crime, but it may also be costly, as criminals are resorting to methods such as drilling into gas tanks to obtain fuel.

Here are some tips to help you avoid being a victim of gas theft.

  • Although parking in the garage is the ideal option if you must park on the street, try to do so beneath the light of a street lamp. The brighter the light on your car, the more likely the burglar will move on to a less difficult target.
  • Your tank must be locked. Consider purchasing a gas cap lock to prevent a thief from quickly siphoning gas from your tank.
  • Face the road ahead of you. When parking, make sure the gas door is facing the street. Thieves are more inclined to avoid an automobile that exposes them to the gaze of passers-by.
  • If you’re parking in a garage, look for a place near the exit or elevator because those have the most visibility and foot activity.
  • Take a Ride. The parking areas at airports are a refuge for gas thieves. To prevent leaving your car unattended in long-term parking, obtain a ride to the airport when traveling.
  • Avoid parking for long periods of time anywhere. If you’re going on a trip, for example, take a taxi to the airport rather than leaving your car in a long-term parking lot for days on end.
  • As always, if you notice something strange, call the police.

In 1989, Oakwood’s founder, Bruce L. Sogn, set out to establish a business that would give him the opportunity to serve the community and to fulfill a need in the marketplace. Today as an independent insurance agency, Oakwood does just that.

After researching the insurance industry, he found that by becoming an independent insurance agent, he could offer a comprehensive range of insurance products and services to his clients. By maintaining focus on competitive products, Oakwood has kept its commitment to service, professionalism, and the highest integrity.

How To Select The Right Insurance Agent For Your Needs

When it comes to protecting your financial assets like your home or auto, you can’t trust just anyone with your investment. Finding a trustworthy and trained insurance agent/broker could mean the difference between having enough coverage for your property following a catastrophic loss and being stuck with a large repair bill. An insurance agent/broker is a specialist who works on behalf of clients to find the best policy or insurance provider for their needs.

Consider the overall fit, not just the price, as the price can be deceptive. Be careful of someone who sells at low cost, generally, it means poor coverage. The same method you used to choose a doctor or dentist can be applied to choose an insurance broker. You want someone with a pleasant “bedside manner,” as it were.

Understand the differences in agents

Direct Writers vs. Independent Agents: There are two ways to obtain insurance coverage from a company. Direct writers are insurance companies that hire their own salespeople to write exclusively for them; they work for the company that employs them. Independent agents work for the insured rather than the insurance company. They do, however, have contracts with multiple insurance companies and can usually provide you with more options.

Signs It Is Time To Find A New Agent

  • They are responsive to calls and requests
  • You are the one that indicates all conversations
  • Requesting a quote is complicated
  • When a claim occurs they are nowhere to be found

Qualities of a Good Agent

  1. Trustworthy
  2. A good Listener
  3. The desire to teach you rather than sell you
  4. Someone who view insurance as a promise not a product
  5. A good agent will want to develop a relationship with you not just sell you then move on.

How To Start The Process

Testimonials: Yelp, LinkedIn, Facebook, and other social media platforms can help you determine whether or not a business provides good service. These websites can be useful, but meeting with an agent or broker in person is one of the greatest methods to determine whether or not they will take good care of you.

Personal Recommendations: Consult with your coworkers, people you trust, and your circle of friends. Asking a complete stranger is preferable to relying on advertisements or the yellow pages. People are more likely to refer others with whom they have had a good encounter.

Ask Questions

Consider this like an interview, where you are selecting a person and agency to represent you.

  • How long have they been in operation?
  • What are their certifications if any? Look for agents with advanced designations such as Chartered Property Casualty Underwriter (CPCU), Certified Insurance Counselor (CIC), Chartered Life Underwriter (CLU) or Accredited Adviser in Insurance (AAI).
  • Which companies do they represent?
  • How will the renewal processes work?
  • If you’re going to have a personal account manager?
  • How will they help if a claim occurs?
  • What experience do they have with risks like yours?
  • What they charge for services and/or how they are compensated?
  • Ask them to review your current policies and make recommendations?

Conduct interviews with the contenders to determine which one is the best fit for you. Selecting a broker with strong communication skills will allow you to find an agent who is easy to relate to and who can provide you with information you need to understand your risk and how to best manage it.

Oakwood is involved with numerous local, state, and national insurance associations and communities. The agency encourages employees to devote time to these endeavors. Oakwood’s approach is one of total risk management, encompassing the areas of property & liability insurance, automotive insurance, worker’s compensation, professional liability, individual or group accident & health insurance, life insurance, contract surety bonds, and personal insurance. Oakwood provides an in-depth range of insurance products and services to assist in securing our clients’ future. We are an agency committed to excellence, founded on the principle of integrity.

How To Improve Your Homeowner’s Insurance Without Jeopardizing Coverage

Homeowner’s insurance costs an average of $1,083 a year in the United States, though the cost varies significantly by state. Insurance companies provide policy discounts in the form of credits or lower premiums for home improvements that may reduce the need to file a claim as well as the amount paid out for claims that do occur. In essence, it is less expensive for insurers to lower premium prices than it is to compensate for damages and losses. Here are a few steps you can take to lower your insurance costs without jeopardizing your coverage

Roofing Upgrades

A new roof is a major — and expensive — investment. A faulty roof, on the other hand, might be very costly. If your roof leaks, you could end up with rotting wood and water damage inside your home. Hail and high-impact storms can breakthrough if it’s weak.

Increase the safety of your house

A smoke detector, lights, burglar alarm, or dead-bolt locks can normally be purchased at a discount of at least 5%. If you install a sophisticated sprinkler or fire detection system and a fire and burglar alarm that rings directly to the police, fire, or other monitoring stations, some companies will reduce your premium by as much as 10 or 15%. These systems are not inexpensive, and not all of them qualify for a discount. Find out what kind of system your insurance recommends, how much the device will cost, and how much you’ll save on premiums before you buy one.

Take advantage of every possible discount.

For everything from paying your annual payment in full up advance to keeping your insurance for more than three years, insurers provide a variety of discounts to homeowners.

Lower your risk

Even if it’s entertaining and fun, possessing something your insurer considers a “attractive nuisance” such as trampolines, certain dog breeds, swimming pools, or playground equipment will raise your homeowner’s insurance cost. Getting rid of these things could save you a lot of money on your insurance.

Talk to your insurance agent.

Before you start looking for methods to save money on your insurance, be sure you know what your existing policy covers.

Consider when to file a claim and not file a claim

Even while it may be tempting to file a claim with your insurance company whenever something minor happens, you may be better off in the long run if you pay for these smaller expenses yourself. This is because certain insurance companies may give you a discount if you don’t file a claim for a certain period of time, usually a few years.

Remain to use the same insurer.

If you’ve had your insurance with the same carrier for a long time, you may be eligible for a special discount as a long-term policyholder. If you stay with an insurer for three to five years, your premiums will be reduced by 5%, and if you continue with them for six years or more, your premiums will be reduced by 10%. However, make sure to compare this price to that of other insurance regularly.

Increase the amount of your deductible.

The larger your deductible, the lower your insurance costs are likely to be. According to the Insurance Information Institute, increasing your deductible by $500 to $1,000 might save you up to 25% on your premiums.

In 1989, Oakwood’s founder, Bruce L. Sogn, set out to establish a business that would give him the opportunity to serve the community and to fulfill a need in the marketplace. Today as an independent insurance agency, Oakwood does just that.

After researching the insurance industry, he found that by becoming an independent insurance agent, he could offer a comprehensive range of insurance products and services to his clients. By maintaining focus on competitive products, Oakwood has kept its commitment to service, professionalism, and the highest integrity.

 

2022 Insurance Planning

It may be imperative to evaluate your personal insurance program now that 2022 is approaching. Before buying insurance, most consumers don’t take the time to consider their exposures, options, or present financial situation. It’s critical to take stock of your own finances in order to plan for the future. Here are some ideas to get you thinking about your personal insurance. Of course, we always advise that you contact our office for additional information.

  • Make Sure That You Are Dealing With A Licensed Insurance Agent – Insurance companies and agents are both required to be licensed by the state, and their information may be found online at the state’s insurance department. Most state insurance departments have resources online to aid you in choosing the correct insurance and ensuring that the person or organization you’re dealing with is an expert in that field.
  • Examine Your Automobile Limits – If your policy limits are less than $100,000, you won’t be able to cover your medical expenditures in the event of a major accident. Anyone with any assets or income to protect should get minimum liability coverage of $500,000 to $1 million or more.
  • Look for Discounts – Many insurance firms offer a 10% or higher discount to customers who have other insurance contracts with them (such as auto or RV insurance). Consider getting an insurance quote from the same company that provides your homes insurance for other forms of insurance. You might be able to save money by bundling.
  • Recognize The Risks And Coverage You Require – Every property is unique and comes with its own set of risks. The type of insurance required will also be determined by whether the property is utilized as a primary residence, a long-term or short-term rental, or a condominium. In general, homeowner’s insurance is intended to protect against dangers beyond the owner’s control, such as rain, wind, fire, vandalism, pipe bursts, falling objects, theft caused by broken glass, and so on.
  • Keep a Home Inventory — Keeping an accurate inventory of your personal belongings will help you recover faster in the event of a loss.
  • Bundle Your Insurance – Save money by combining your vehicle, house, and umbrella policies with one insurer.
  • Choose the Right Deductible – A greater deductible lowers your premium, but you’ll be responsible for more out-of-pocket expenses in the event of an accident. If you have a clean driving record and no accidents, you might choose to take a chance and pay a higher premium. The benefit for taking this risk might be as much as a 40% discount.
  • Consider Identity Theft — One of the fastest-growing crimes in the United States is identity theft.
  • Read Your Policy – I’m not referring to the 1-2 page Declarations Page that serves solely to demonstrate coverage, but rather the 20-30 page insurance Binder or Policy that provides the specifics of the coverage and exclusions. Nobody enjoys reading insurance policies, so don’t be surprised if you don’t comprehend them.
  • Purchase from a financially stable business — Your insurance coverage is only as good as the firm that backs it up. The insurance firm should be rated “A+” or better.
  • Be willing to make changes as your lifestyle and requirements evolve.

The Best Ways To Insure Your Recreational Toys

As summer approaches, many people are moving outdoors. This includes using ATVs, boats, RVs, golf carts, and more. All these vehicles need insurance to protect you against damage and liability. It is important to have the right insurance for your recreational vehicles. Most of these are not automatically covered under your home or auto policies.

If you don’t want to insure physical damage on your recreational vehicles, that is an option, but you still need liability insurance. If you have loans on these vehicles, you may be required to insure them.

RV Insurance

RV insurance rates differ from company to company, so it pays to have us shop for your insurance. Some markets offer better rates for trucks, RVs, and campers, while others can offer better rates for motorcycles. To properly insure your RV, you may need liability, collision, comprehensive, uninsured motorist, medical payment, and towing coverage.

Boat/Watercraft Insurance

It would help if you considered watercraft/boat insurance for liability and damage to the hull and personal property. Boat insurance can include physical damage coverage, medical payments, liability, and trailer coverage.

ATV and Golf Cart Insurance

A standard auto insurance policy doesn’t cover ATVs. Even if you are not required to carry physical damage insurance on your ATV, it is still important to protect yourself from liability claims if you injure a third party.

 

Five Things People Should Know About Insurance

For many people, insurance can be difficult to understand.  Most people know that insurance is needed, but often they do not fully understand what they are buying or if they are properly covered.  That is why it is important to have an insurance agent on your side.  A good agent will help you determine what your insurance needs are, educate you about your options, and help you understand the specifics of the insurance you are buying.

Here are five things that you need to know as you consider your insurance options.

  • You cannot add coverage for a claim that has already occurred. For example, if there is flooding in your area, you cannot buy flood insurance during an event.
  • Coverage gaps can be costly. Having a gap or lapse in coverage can be costly. Always pay your premiums on time, or ask for a grace period from your insurer.  You will end up paying more if you have lapses in your policy.
  • Insurance is not intended to cover everything. Insurance is designed to provide financial recovery after an accident or unforeseen loss. Every policy has exclusions which are important to understand. Remember, insurance is not intended to cover regular maintenance.
  • An agent can be a valuable resource. A licensed agent can help you find the best possible combination of coverage, price, and service that fits your individual needs. A good agent will be willing to answer any questions you may have and be there for you when a claim occurs.
  • Do not skimp on liability insurance. The cost of litigation these days underscores the need for everyone to have an adequate amount of liability insurance.  The greater your assets are, the greater your need is to have your assets covered.  To protect yourself and your family financially, buy enough liability insurance on your auto and home insurance policies to cover above your net worth.  We can help you determine how much coverage your individual needs require.

In 1989, Oakwood’s founder, Bruce L. Sogn, set out to establish a business that would give him the opportunity to serve the community and to fulfill a need in the marketplace. Today as an independent insurance agency, Oakwood does just that.

After researching the insurance industry, he found that by becoming an independent insurance agent, he could offer a comprehensive range of insurance products and services to his clients. By maintaining focus on competitive products, Oakwood has kept its commitment to service, professionalism, and the highest integrity.

Five Things People Should Know About Insurance

For many people, insurance can be difficult to understand.  Most people know that insurance is needed, but often they do not fully understand what they are buying or if they are properly covered.  That is why it is important to have an insurance agent on your side.  A good agent will help you determine what your insurance needs are, educate you about your options, and help you understand the specifics of the insurance you are buying.

Here are five things that you need to know as you consider your insurance options.

  1. You cannot add coverage for a claim that has already occurred. For example, if there is flooding in your area, you cannot buy flood insurance during an event.
  1. Coverage gaps can be costly. Having a gap or lapse in coverage can be costly. Always pay your premiums on time, or ask for a grace period from your insurer.  You will end up paying more if you have lapses in your policy.
  1. Insurance is not intended to cover everything. Insurance is designed to provide financial recovery after an accident or unforeseen loss. Every policy has exclusions which are important to understand. Remember, insurance is not intended to cover regular maintenance.
  1. An agent can be a valuable resource. A licensed agent can help you find the best possible combination of coverage, price, and service that fits your individual needs. A good agent will be willing to answer any questions you may have and be there for you when a claim occurs.
  1. Do not skimp on liability insurance. The cost of litigation these days underscores the need for everyone to have an adequate amount of liability insurance.  The greater your assets are, the greater your need is to have your assets covered.  To protect yourself and your family financially, buy enough liability insurance on your auto and home insurance policies to cover above your net worth.  We can help you determine how much coverage your individual needs require.