3 Ways to Show You Care

Valentine’s Day is the perfect holiday to show your loved ones how much you care. This year, don’t just get flowers and chocolates. One gift that can truly last is insurance. It may not be as romantic as a dozen roses, but it can provide protection for life. 

  1. Protect Your Valuables

Home is where you usually feel safest and where you keep your most prized possessions. Whether you’re a homeowner or a renter, both insurance lines offer personal property coverage. Personal property coverage covers personal belongings inside a home in the event of damages or theft that may not be covered under a general Homeowners or Renters Insurance line. 

Personal property coverage can provide a sense of security and help in recuperating valuables. Reach out to your local OKFB Agent and see if the jewelry you have or are planning to give for Valentine’s Day is covered.

  1. Travel With Confidence

Planning a weekend getaway for the weekend of love? Whether you’re fishing at the lake, racing ATVs or cruising Route 66 in an RV, one way to protect your loved ones from the unexpected is with Recreational Insurance. We offer a wide range of coverage options that could help you when making new memories wherever your travels take you. 

  1. Support Your Employees

The COVID-19 pandemic has shown us that small businesses have to expect the unexpected and adapt quickly. Many Oklahoma businesses have suffered from lost revenue, staffing shortages or have had to close their doors completely. One way to show you care for your employees is to give the gift of insurance. Our fully-customizable Business Owners Insurance includes Loss of Income coverage that could help cover a loss of net income due to suspension of operations and help pay for continuing payroll expenses. 

BONUS – How We Care: Drive with Peace of Mind

One auto-related gift to offer a loved one, and no, we’re not talking about buying a car, is Roadside Rescue. As an OKFB member or policyholder, we give you the gift of Roadside Rescue. This is a free service that provides 24/7 assistance wherever you or your loved one is nationwide. Enjoy the gift of traveling with confidence and peace of mind wherever and whenever this Valentine’s Day.

Insurance coverage is a great way to show you care and to provide loved ones with protection and safety. Reach out to your local OKFB Insurance agent if you have questions about your existing plan or purchasing a new one. We’re here to help!

3 Things to Do if Your Car Breaks Down

Imagine your car breaks down. On the highway. At 1 a.m. In the middle of winter. 

It sounds like a scene straight out of a horror movie, but experiencing a breakdown could happen to most of us at some point in our lives. We’ve all heard the saying, “hope for the best, plan for the worst.” While you can’t always prevent a breakdown, you can be prepared for one. 

Here are three tips to help you prepare for a breakdown:

1. Know How to Stay Safe

If you’re driving back to the hotel after an evening dinner, and there’s an issue with the car, there are a few things you could do to stay safe. If you’re able, pull to the side of the road and turn on your hazard lights to stay visible. Also, put on the parking brake and turn the wheel away from the road to avoid rolling into traffic. If you’re in fast-moving traffic, it could be better to stay in the vehicle until help arrives. 

2. Have a Kit For Break Down

Stay prepared and stay safe by keeping these items in the trunk at all times, no matter the weather:

  • Mobile phone charging device
  • First-aid kit
  • Road atlas
  • Flashlight
  • High-visibility vest
  • Warning triangle
  • Carjack
  • Tow rope
  • Spare tire
  • Water bottles
  • Granola bars

3. Contact OKFB’s Roadside Rescue Team

If you’re an OKFB Insurance policyholder or OKFB member, remember to keep your Roadside Rescue card with you and have this number saved in your phone: 833-957-OKFB (6532). If your vehicle breaks down, the OKFB Roadside Rescue service is available 24 hours a day, 365 days a year. Enjoy the variety of services, including towing, flat tire assistance, battery jump start service, unlock service and more. 

Your safety is our top priority and if you’re in need of help, we will be there every step of the way. 

Top 5 Commercial Insurance Myths

There are many operations and assets that come with running a business. To support our Oklahoma business owners, we provide a range of coverage for large and small businesses with our Commercial Insurance and Businessowners Policy. When looking to insure your business operation, it’s helpful to be aware of a few common Commercial Insurance myths.

Myth 1: My Business Is Too Small to Need Insurance

  • Insurance helps keep your business covered. This includes the physical building, employees, inventory and more. It serves to protect against any risks your business could face. For instance, Commercial Insurance could help if your work laptop is stolen or if an accidental fire burns inventory and supplies. Most businesses, regardless of size, will find Commercial Insurance beneficial. 

Myth 2: My Home-Based Businesses Is Covered Under My Homeowners Insurance

  • Homeowners Insurance covers your physical home and its contents. However, business assets related to your home-based business may not be covered. Obtaining Commercial Insurance will ensure that any inventory, assets, and more pertaining to your business are protected in case of the unexpected. 

Myth 3: The Personal Car I Use for My Business Is Covered Under My Auto Insurance 

  • This is similar to the myth above. Since company vehicles could include items pertinent to your business, these items may not be covered under a typical Auto Insurance policy. For example, if inventory is ruined during an accident or stolen. Instead, a Commercial Auto policy would cover your business vehicle, and it would include other features like auto liability and uninsured motorist coverage that could provide protection for the vehicle and extra coverage. 

Myth 4: Commercial General Liability Insurance Has Me Covered 

  • Commercial General Liability coverage serves to keep you and your business covered if operations lead to injury or property damage. However, there are limitations. Contact your agent and discuss if there are parts of your operation that are not covered under Commercial Liability. Also, see if it could instead be protected under a Commercial Umbrella policy or Commercial Property policy. 

Myth 5: I Don’t Need Workers’ Compensation Insurance if I Don’t Have Many Employees

There are many aspects to think about when ensuring sufficient coverage for your business. Reach out to your local OKFB Insurance agent if you have any questions or want to discuss any of these Commercial Insurance myths.

Small Business Vehicle Fleet 101

Expanding a small business can be exciting. It signifies growth and an increase in demand for your product or service. However, with an increase in demand comes an increase in supply. If you are looking to start or manage a vehicle fleet to keep up with demand, keep these tips in mind.

Leasing vs. Owning a Vehicle Fleet

If you identified a need for a vehicle fleet, the next thing to consider is the type of vehicle. Additionally, you should consider whether to lease or own the fleet is in your best interest. There are pros and cons to both options. 

When leasing, there could be a mileage limit, a need to be more mindful of damage, etc., and that could potentially restrict business offerings and means of efficiency. A benefit of owning a fleet is increasing your business’s resources and control. However, with owning you also have the responsibility for regular maintenance and upkeep.

vehicle fleet of cars parked for the nearby small business

Vehicle Fleet Coverage 

1. One of the first things to do when buying a fleet of vehicles is to have it insured. Unlike a personal vehicle that would fall under Auto Insurance, a business vehicle fleet may be best protected under a Commercial Auto policy. In the event of the unexpected, it can help ensure employees and vehicles are covered.

    • Remember to discuss coverage options with an insurance agent. Having the right amount of insurance coverage is critical. Some coverage options may cover vehicle damage and loss, but not the personal property inside. See if purchasing additional coverage to cover personal property could be beneficial to your business.

2. Keeping the policy updated is important once coverage is obtained. Consider scheduling calls with your insurance agent to ensure your policy matches your changes.

    • For instance, adding a newly hired employee to the policy or even removing an employee could be easy to forget and costly if overlooked.

3. To keep your policy premium cost down, it’s important to highlight safe driving practices with your drivers. Additionally, emphasize the importance of having and maintaining a clean driving record. Multiple accidents from an employee could impact a policy premium. See how tickets could impact an auto policy.

man putting boxes in the back of a truck

As you prepare to expand and grow your business, let us focus on ensuring it is covered for your business’s needs. Contact your local OKFB agent for more information on the Commercial Auto coverage options available.