Home Insurance checklist for moving

Moving into a new home can be an exciting but busy time. As you pack up your life and prepare to sell your home in the midst of your normal schedule, thoughts about Home Insurance may not cross your mind. But, it’s important to know how to handle your policy during this time of transition. Check out our short checklist for navigating Home Insurance during a move:

1. Contact your agent

The first step is to contact your current insurance agent. They will be best equipped to help you understand how your insurance may be impacted by the new property. Your agent can also determine whether you’ll be able to transfer and adjust your existing policy or if you’ll need to start a new policy for the new home and cancel your current policy for the old home. 

2. Provide your agent with a timeline 

After consulting with your agent, it’s important to keep him/her in the loop about your anticipated timeline for the move. You’ll want to share not only the dates for moving out and moving in, but also the dates for when new home ownership begins and old home ownership ends. If these dates overlap and you own two homes at once for a period of time, you’ll need to make sure both are properly insured. Your insurance agent can discuss the logistics that will ensure there are no gaps in coverage during your move.

3. Transfer or cancel/start your policy 

Depending on where you move, you may have several options for getting started with coverage for your new home. You may be able to transfer your policy and make updates, start a new policy with the same company/agent, or you may have to look to a new company if you fall outside of the coverage area for your current insurer. At any rate, communication between you and your agent is critical. Your agent can set up an easy transfer or have a start or stop date scheduled for your policy. 

Taking these steps can lead to peace of mind that you are properly covered during the entire moving process. Contact your OKFB agent to learn more.

Benefits of Bundling Home and Auto Insurance

Managing and paying for multiple insurance policies can seem overwhelming, but that’s where bundling can come into play and provide big benefits. Insurance bundling is the process of joining multiple insurance policies under one member policy. It can often lead to a bundling discount – sometimes referred to as a companion discount – convenience and peace of mind for having all of your policies in one place! Read on to learn more about these benefits: 

You may be eligible for a bundling discount

When you purchase auto and home insurance from the same carrier, you may be eligible to receive a bundling discount. You could save on the bundled product premiums in comparison to paying more for two separate policy premiums with two carriers. OKFB Insurance offers a companion discount, but discounts offered will vary depending on the carrier. To see if you’re eligible for our bundling discount, contact an OKFB Insurance agent.

Bundling can provide enhanced convenience

A bundled policy can mean less paperwork to do initially and to keep up with – saving you time and energy. Additionally, all payments, claims and policy changes can be streamlined through one, dedicated agent. This means if something goes wrong, you’ll know exactly who to call to get help quickly. 

Your agent can help you look at the big picture

By working with you on a bundled policy, your insurance agent will get to know you and your insurance needs better while also developing a personal relationship. Your agent will help you identify gaps in coverage, savings and recommend additional policies. They will also be able to help you choose limits that will help cover all of your assets.

Learn more about the home and auto insurance policies we offer. When you’re ready to take advantage of these benefits, contact your agent to see what you may qualify for.

Renters Insurance 101

Renting a dwelling — whether it’s an apartment, townhouse, condo, duplex or mobile home — means you likely don’t have to get insurance to cover the structure in which you live. Consequently, many renters will overlook the benefits of getting insurance for their personal property. Read on as we debunk some common misconceptions about renters insurance and provide information on why it is more important than you think. 

Myth #1: “My landlord will cover my personal property damages/losses”  

Fact: While there may be some landlords who offer renters insurance to their tenants, it’s more likely that the landlord’s policy will only cover the structure itself and not anything inside. This means that even if there are appliances inside the structure that the landlord owns, they will not be responsible for damages inflicted on your personal property by those items. An example of this is if you had groceries in your refrigerator and it broke down, thus causing all your food to spoil. It would not be on the landlord to replace that food under their structure insurance policy and, if you don’t have renters insurance, you may lose hundreds of dollars worth of food items. 

Myth #2: “Renters insurance is too expensive”  

Fact: Renters insurance is actually quite affordable and provides coverage for all of your personal belongings. An average renters insurance policy can protect all of your personal property in the event of an accident, such as a fire, explosion or theft, for an affordable yearly price. Plus, there are additional discounts and credits you could be eligible for, such as bundling renters and auto with the same insurance agency.   

Myth #3: “Renters insurance only covers my personal belongings”  

Fact: Renters insurance can also cover any damage you might cause to other tenants’ property or possible medical accidents that happen in your rental. If your bathroom floods and water seeps downstairs to damage other tenants’ personal property, renters insurance can help cover that damage. Another example of this is if you own a dog and it happens to bite or injure someone – renters insurance can actually help cover some of the medical payments. 

You can visit our website to learn more about renters insurance options or, if you want to speak directly with an agent about the best coverage option for you, you can contact your local agent today.

Protection for your Backyard Swimming Pool

As we enter the dog days of summer, having a pool at home provides refreshing relief from the sun and heat. Your backyard pool may be a savior during these long summer days and a fun time for the kids, but it also presents some risks. It’s important to be aware of how your pool impacts your insurance, so if you’re thinking about adding a pool or buying a home with one, we have some tips for you on pool safety and insurance coverage.

An “Attractive Nuisance”

Your backyard oasis may add value to your property, but it is considered by insurance companies as an attractive nuisance. An “attractive nuisance” is anything that might attract a child and be dangerous to an unsupervised child — and you can be held liable if something were to happen. Things like trampolines, playgrounds and man-made ponds are all considered attractive nuisances. As the homeowner, you are responsible for the risks posed by your pool and preventing potential harm that could come from it. Having an insurance policy that includes coverage for your pool can help you prevent poolside accidents by requiring you to meet certain safety measures. 

Safety Precautions

In order to include coverage for your pool in your insurance policy, many companies require you to take safety precautions that reduce the chance of an accident in or around your pool. Here are some safety precautions that may be required for you to obtain policy coverage for your pool:

  1. Install a fence around the entire perimeter of the pool, with a self-latching gate lock that children can’t reach. 
  2. Get a safety cover to serve as a secondary barrier. Lockable pool covers are a great way to help ensure children are not using the pool without supervision.
  3. Provide accessible safety equipment. Flotation devices near the pool for children who are not yet able to swim can help prevent accidents. 

If you don’t fulfill these safety measures, you could face denied insurance coverage or claims, cancelled policies and possibly large liability lawsuits for which you could be solely responsible. 

Insurance Options

Pool insurance by itself doesn’t exist. You’ll need to talk to an OKFB Insurance agent to find out how you can get coverage for your pool by adding your pool to your home insurance policy. It may also be beneficial to add an umbrella policy, which can provide an additional layer of liability coverage. We offer personal umbrella insurance that’s designed to protect you and your family from lawsuits not fully covered under a standard liability policy.