Top Insurance Questions Answered by Insurance Agents – Part 2 June 7, 2021 Insurance helps to ensure that your assets are covered from a range of incidents. To help you feel confident when shopping for insurance we have answered five common insurance questions our agents commonly receive. 1. Are home-based businesses covered under a homeowners policy? A homeowners policy protects homes from unexpected incidents and damage. However, it can be difficult to know what exactly a homeowner’s policy will cover for a home-based business. For example, unlike a homeowners policy, a small business insurance policy would cover the inventory stored in a home, a vehicle that is used for business, etc. 2. Does my homeowners policy cover damage if my tree falls on my neighbors’ property because of a tornado or ice storm? Typically, if a tree or part of it from your property falls on your neighbors’ property and causes damage because of a tornado or ice storm, you will not be held liable. Your neighbors would file a claim with their insurance company. Our claims reporting hotline is available 24/7 and is ready to help whenever you need. 3. When should I get Life Insurance? Did you know obtaining Life Insurance while you’re young and healthy is usually the most optimal time to obtain it? This is the period of time where an individual will most likely benefit from lower rates. Use our life insurance calculator to determine how much Life Insurance coverage may be needed. Obtaining Life Insurance as soon as you are able is beneficial in the long-run. It can provide peace of mind when thinking about loved ones. 4. Does Auto Insurance cover a hit-and-run accident? In most cases an Auto Insurance policy will cover vehicle damage, possible medical bills, etc. in the case that a car accident occurs and the individual at fault intentionally leaves without providing contact information. 5. What do I need to do to file an insurance claim? Don’t delay taking action after an event that damages your property if you suspect it may make you eligible to file a claim. Start by contacting your agent, or using your carrier’s online claims tool – we have several claims options to choose from. Make sure to have your contact information, policy number and detailed information of the incident ready when you file. If you have additional insurance questions, check out our FAQs. Also, you can always contact your local OKFB agent with any inquiries or questions about your policy or specific coverage needs.