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How To Get The Most Out of Your Home and Auto Insurance

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With the beginning of a new year, it is important to review your home and auto insurance policies to ensure you are getting the most out of them. To begin this process, here are some questions you should ask when reviewing your policies; “What is and is not covered with my policies?”  “Do I need to add any new family members or vehicles to my policies?”  “What are my deductible amounts?”  “Am I taking advantage of all available discounts?” “Is my coverage adequate enough to cover a loss should I have one?”

The following information will help guide you through some of these key questions for getting the most out of your home and auto insurance.

  • Review Your Policy- Make Sure You Are Aware of What Is and Is Not Covered

It is essential to review your home and auto insurance policies to make sure you are aware of exactly what is and is not covered. Different policies cover different things, so it is best to read the entire policy to understand what is included. Depending on where you live and the type of coverage that you have purchased, there may be certain geographical limitations or exclusions related to certain types of damage such as flooding or earthquakes. Additionally, many policies will also list out any items that are not covered under your policy such as high-value items like jewelry or expensive electronics. By understanding exactly what is and is not covered with a policy can help prevent any unpleasant surprises if something were to happen down the line.

When reviewing your current home and auto insurance policies, it is also important to consider additional optional coverage that could be beneficial for you in 2023. This will be based on your changing needs or circumstances – especially when it comes to new vehicles added over the past year. Optional add-on coverage options can provide extra protection from specific risks not otherwise provided by standard coverage, like roadside assistance packages or rental car reimbursement, should an accident occur away from home. It is always worth considering these additional coverage options since they often come with minimal cost, but they can offer tremendous peace of mind knowing that all bases are covered should anything unfortunate arise during 2023!

  • Add Any New Family Members or Vehicles to Your Policy

Adding any new family members or vehicles to your policy is a crucial step in getting the most out of your home and auto insurance.

If you have purchased a new car, it is important to include it on your policy as soon as possible so that you can enjoy the full benefits of coverage right away. Typically, this involves providing details such as make and model information, VIN numbers, and registration data. These details will ensure a smoother process when adding a vehicle to an existing policy!

For any newly added family members (spouse/children), you may need to update certain aspects of your policies, such as personal liability limits and increased medical payments should they be involved in an accident. It is also worth considering adding them onto the same auto insurance plan since doing so often results in discounted rates due to economies of scale associated with multi-car policies.

  • Check Your Deductibles To Make Sure They Are Still Appropriate

When reviewing your home and auto insurance policies, it is important to check and make sure that the deductibles are still appropriate for your needs. Having a deductible that is too low can put you at risk of losing out on potential savings if you need to file a claim. However, having a deductible that is too high could leave you facing hefty costs in the event of an accident or damage. It is best to review the amount of deductible currently listed with each policy and compare it against any changes in your financial situation over the past year. If either has changed significantly, then it may be worth considering adjusting deductibles accordingly, so they better reflect current circumstances while also allowing for maximum savings when filing claims down the line.

Ultimately taking advantage of all applicable deductions can help ensure adequate coverage while keeping costs manageable throughout 2023 and beyond.

  • Confirm That You Are Taking Advantage of All Available Discounts

It is advisable to investigate available discounts as well when checking deductibles since these could help lower overall premiums further. It is important to make sure you are taking full advantage of all the discounts available when it comes to your home and auto insurance policies. Some of these may include discounts for having multiple policies with one insurer, being a part of certain organizations like alumni associations or professional societies, or even having certain safety features installed in your vehicle. Taking advantage of any applicable deductions can offer significant savings on premiums while still providing adequate coverage should something unfortunate arise during 2023!

It is also worth confirming if there are additional discounts that could be applied towards specific coverages such as roadside assistance packages or rental car reimbursement should an accident occur away from home. Additionally, many insurers now offer preferred driver discount programs designed to reward safe driving habits with discounted rates, so even if you have been involved in a few accidents over the past year—this could still provide some relief when it comes time to renew your policy in 2023. Ultimately exploring all potential deductions and discounts before signing up for new policies each year can help ensure maximum savings while also protecting yourself and your loved ones against unforeseen risks throughout the year.

  • Review Your Coverage Limits To Ensure They Are Still Adequate

It is important to review your coverage limits and ensure they are still adequate for your needs. This means confirming that the amount of liability protection you have is high enough, as well as any other coverages such as medical payments or rental car reimbursement should an accident occur away from home. It is also worth considering increasing these limits if possible since doing so can often result in lower premiums due to economies of scale associated with higher-value policies. Also, having adequate coverage offers more peace of mind knowing that greater financial protection is available against unforeseen risks during 2023.

 

Stop Porch Pirates This Holiday Season

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The holiday season is filled with fun, parties, food, gifts, overeating and unfortunately some risk. One of the fasted growing risks for many people are stolen packages by porch pirates.  According to proopertycasualtiy360, over 26 million packages are stolen during the holiday season.  Need more bad news?

Your homeowners or renter’s insurance generally may not cover this loss as it tends to be under your deductible.  There could be coverage if you have personal property off premises insurance.  Also for theft coverage to apply generally, you need proof of loss by a broker indoor, etc.

Call our office for a review of your homeowner’s insurance, as each policy is unique to your circumstances.

Things To Do

  • Delivery confirmation is a good way to prove the package was delivered.
  • Thieves will follow delivery trucks, waiting for the perfect target.
  • These thieves commonly strike during working hours as many homes are empty at that time.
  • You can insure your packages.
  • Consider having a person there when the delivery is scheduled.
  • Install a security camera.

What To Do If A Package Is Stolen

  • Track your package. Check the delivery confirmation and tracking number.
  • Make sure a neighbor did not pick it up for you.
  • Contact the seller. Different retailers have different policies and processes for handling stolen items, but usually, you are entitled to a refund or a replacement item.
  • File a claim with the shipping company.
  • Check your Credit Cards for Purchase Protection.

The Holidays Bring Added Risk?

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Personal Insurance Update

Did you get an ugly tie or sweater last year for Christmas? If this Christmas is a repeat of last year, the good news is that you can exchange the gift for something you can use. However, many other ugly things can happen during the holidays that you may not be able to take back. While the holiday season is a great time to celebrate with family and friends, it can also lead to fire, theft, and losses that will dampen your holiday spirit.

Now would be a good time to have us review your personal insurance to make sure you understand your coverage and provide optional coverage for you to consider.

Typical Holiday Mishaps

House fires – Due to the increased use of electrical cords, home fires rose during November and December. Make sure you use only UL-approved appliances and electrical cords. Do not over-use outlets to string inside or outside lights. If you have a natural tree, keep it watered. Invest in a fire extinguisher, and keep it in the kitchen. The median cost of fire damage due to candles and fireplace claims can be around $9,000.

Theft –Criminals love the holiday season because they know you may have expensive items in your home. Keep your doors locked. Do not place gifts next to windows. It is not necessary to post all your holiday purchases on social media. Criminals love to “like” your posts and then steal your gifts.

Use of alcohol – Resist the pressure to drink or serve alcohol at every social event. Designate a driver before the party begins. Offer non-alcoholic beverages at your party.

We are committed to providing clients with the highest quality insurance plans available combined with some of the lowest possible rates. Whether you are shopping for auto insurance, home insurance, or life or business insurance, we can help you obtain the best coverage available at the lowest rate possible.

Personal service combined with depth of knowledge in the insurance marketplace, and access to a wide range of carriers is the combination of factors that sets Oakwood Insurance apart from its competitors. We not only work in the north metro, but it’s also our home. We strive to support the vibrancy and growth of this community. We want it to thrive, and we want you to thrive. We will review your insurance coverage and help you understand what you have and ensure that it’s the best fit for your goals.

 

 

 

 

How To Shop Safely This Holiday Season

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Halloween is over and that means we are in the middle of the holiday season.  During the next 45 days, we will all be busy shopping, eating out, and traveling.  Thieves know that the police are overloaded during the holiday season, and they take full advantage it.  Burglars know that there are many expensive items in homes and cars during the holidays.

Your home or renter’s insurance will provide coverage for theft or loss if you have the coverage. Now would be a good time to call us for a free personal insurance review. Whether you are holiday shopping at the mall, online, or a little of both, keeping yourself and your personal information safe is important.  Here are a few holiday shopping safety tips:

Holiday Shopping Safety

  • Always be aware of your surroundings.
  • Lock your shopping bags in your trunk.
  • Never allow children to make unaccompanied trips to the restroom.
  • Never leave car doors unlocked or windows open.
  • Always park in lighted areas. DO NOT park in remote areas.
  • Shop with a friend.
  • Teach your child to go to a store clerk and ask for help in case your child is separated from you.
  • Avoid wearing expensive jewelry.
  • Keep receipts in your wallet or purse.
  • Avoid carrying large amounts of cash.
  • As you return to your car, make sure to keep your car key in your hand.

We work to ensure that your personal insurance provides the protection you deserve and need.  We understand you may need different coverage like a personal umbrella, RV insurance, valuable articles coverage, earthquake, or flood coverage.

Over the years, we have found that homeowners who adhere to the following strategies have a better chance of obtaining the best possible combination of coverage, price, and service.

Our trusted insurance professionals are here to help you with every step of the insurance process and can design a personal or commercial insurance policy to fit your needs. One of the insurance professionals will work closely with you to ensure that you receive the individualized attention you deserve.

 

What Kind Of Personal Insurance Do I Need?

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You put a lot of effort into building valuable assets and supporting your family’s lifestyle. When things go wrong, personal insurance can assist in safeguarding those assets and offer protection in the case of your dying. Allow our insurance specialists to examine your situation and establish the coverage and plans that are best for you and your family.

Home Insurance

Protect your investment in your home with the right kind of insurance. You may protect your house and your things with home insurance. You’ve worked hard for what you have. Therefore it’s crucial to be protected properly. There are numerous possibilities for what your property’s house insurance can cover. We can assist you in ensuring that everything is handled.

Flood Insurance

Most homeowners’ policies do not cover flood risk. Even if you are not in a flood zone, certain events can also cause damage to your home. Flood insurance is a useful addition to any homeowners, renters, and condo owners/renters policy.

Auto Insurance

Automobile insurance helps you deal with probable financial losses, damages, or injuries associated with cars. It aids in defending you, your passengers, other motorists, pedestrians, property, and your automobile. Additionally, auto insurance might shield you from lawsuits resulting from vehicle accidents. To assist you in finding the best value for money and coverage, we will give you rates from various insurance providers. We’ll thoroughly lay out your alternatives so you can choose the one that best suits your needs.

Umbrella Insurance

Umbrella insurance’s primary purpose is to shield you from the financial responsibility of legal claims. There is typically a cap on the coverage per accident with liability insurance policies for vehicles, ranging from $300,000 to $500,000. However, the cost of a lawsuit can exceed millions of dollars. Your other financial assets can be protected by an umbrella policy’s coverage, and you can avoid being sued for losses that other insurance doesn’t cover.

Personal service combined with depth of knowledge in the insurance marketplace, and access to a wide range of carriers is the combination of factors that sets Oakwood Insurance apart from its competitors. We not only work in the north metro, but it’s also our home. We strive to support the vibrancy and growth of this community. We want it to thrive, and we want you to thrive. We will review your insurance coverage and help you understand what you have and ensure that it’s the best fit for your goals.

Crazy Things Home Insurance Usually Covers

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You may believe that home insurance is only useful in the event of a natural disaster. If your home is damaged by a fire, hurricane, or flood, your insurance should cover the costs. However, whether there is a natural disaster or not, there are many times when you can use your home insurance coverage. We wanted to share a few unusual claim scenarios that are covered by your homeowner’s insurance.

An item falling from the sky — Damage caused by “falling objects,” which include items falling from the sky, is usually covered.

Illness caused by food — If you host a dinner party and one of your guests becomes ill, your homeowner’s insurance may cover you.

Children in college — If you have children in college, their personal property is usually covered up to a certain amount.

Bites from dogs — Dog bites are generally covered, so if your family pet bites someone, your homeowner’s policy will most likely protect you. However, many insurance companies keep a list of “high-risk” breeds that are not covered by standard policies.

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.

Does Bundling My Home And Auto insurance Really Save Money?

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Buying your house and auto insurance from the same company is a simple and effective approach to saving money on insurance. This option is called “bundling,” and it allows you to save money by purchasing many policies from the same insurer.

The following are some of the reasons to bundle your house and auto insurance:

  • Savings have increased. Depending on the personal insurance company and where you live, a multi-policy discount might offer savings.
  • Insurance protection. Having other policies with the same insurance company can reduce the possibility of your personal insurer canceling you if you’ve made vehicle insurance claims or received fines.
  • Having only one agent to handle all your personal insurance needs can reduce un-insured claims.
  • Policy administration can be simplified. When many policies are issued by the same organization, managing them should be easier.

Bundling isn’t always the best option. While most companies give discounts for purchasing multiple items, there are numerous other aspects to consider. Switching your vehicle and house insurance or choosing a new carrier for cost reductions alone may not be the best rationale.

Before you make the switch, make sure you’ll actually save money. Any differences from your present coverage should also be noted. You may have us shop around for the best coverage and pricing once you know what your savings and options are.

Personal service combined with depth of knowledge in the insurance marketplace, and access to a wide range of carriers is the combination of factors that sets Oakwood Insurance apart from its competitors. We not only work in the north metro, but it’s also our home. We strive to support the vibrancy and growth of this community. We want it to thrive, and we want you to thrive. We will review your insurance coverage and help you understand what you have and ensure that it’s the best fit for your goals.

Proven Ways To Build Strong Insurance Relationships

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The partnership between an insurance agent, an insurer, and a client is one of the most important in the industry. Carriers and the underwriters create policies and take on risks for insureds, whereas brokers assist their clients in finding the best insurance policies and carriers for their needs.

The independent agent and broker are the industry’s backbone. They are the primary channel of distribution for commercial property and casualty insurance.

How To Build And Maintain Strong Relationships

Don’t base your relationship on technology

Technology is good and effective tool for both the agent and their clients. But don’t make technology so important that any personal communication is lost.

Follow Through

Agents should build strong relationships with their clients by following through on their commitments and being communicative in the event that something changes, in addition to offering services and advice that help insureds avoid losses. If you say you’re going to do something, you must do it. If you can’t do it, you say, ‘I’m not going to be able to meet the commitment,’ and then you set a new expectation.

Focus on more than just pricing

When it comes to building a strong relationship with insurance agents, one thing that stands out above all else is the need to add value that goes beyond offering competitive insurance prices. When comparing options today, insureds should look for an agent who will not only provide the coverages they require but will also serve as a risk management partner.

Be Consistent

Consistency is essential in all aspects of communication and service. It establishes a pattern that customers can expect, which helps to highlight your value proposition and enhance the customer experience. Simply personalize interactions by framing conversations and messaging in less “scripted” ways. According to one survey, most marketers fail to personalize communication beyond digital channels. Get more customer-specific the next time you pick up the phone. It should contribute to the relationship’s strengthening.

The customer, regardless of the insurance company, ultimately looks to you, the agent, for advice, service, and responsiveness. Regardless of the shifting strategies and focuses in today’s insurance markets, remember to prioritize your customer relationships first, and you’ll find yourself building a book of business that will last for a long time.

 

The Importance of an Annual Insurance Review

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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.

Can “Do It Yourself” Projects Jeopardize Your insurance?

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A personal Insurance Update

Many people are remodeling their homes these days.  However, before you jump into a project, you might consider the following home insurance issues.  Most homeowner’s policies are based on a value of your home that fluctuates based on the “like kind and quality” that existed when the policy was first placed.

Many home improvement projects increase your home’s value, and should be added to your current replacement value.

  • If your DIY project requires a permit and you fail to get one, your homeowner’s insurance may be in jeopardy. For example, if you install a wood stove but fail to get a permit and have a licensed contractor complete the work, your insurer would automatically deny any resulting claims most of the time.
  • Your homeowner’s insurance covers third party injuries. It does not cover injury to you or members of your household.
  • Here are a few examples of DIY projects that will have an impact on your insurance: Outdoor living spaces, pools, upgraded kitchens or baths, room additions, and storage sheds.

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.