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 Ways to Prevent Small Business Fraud

Having a small business can be a rewarding experience, yet it comes with many challenges. Fraud can not only affect individuals, but it can also affect small businesses, which ultimately can impact the bottom line and future success. To help protect your business, check out these tips to help you minimize the risk of fraudulent activity.

Conduct Internal/External Audits

Internal and external audits can help ensure your assets and finances are not being impacted by outside parties, as well as provide other helpful financial information and advice. External audits are typically done by certified public accounting (CPA) firms to review financial statement accuracy. Meanwhile, internal audits can be performed by an outside certified firm or self-assessed. They serve to evaluate operational, managerial and financial policies and procedures.

woman conducting audit to ensure there is no fraud occurring

Sign up For a Business Fraud Training Course

Enrolling in fraud awareness training could help you identify fraudulent activity. The Association of Certified Fraud Examiners (ACFE) reported, “the presence of anti-fraud training programs are associated with lower fraud losses and quicker detection.” The ACFE hosts webinars and offers online training courses. Additionally, the Federal Trade Commission (FTC) provides resources on best practices that could help in mitigating fraud.

woman taking cybersecurity training to help prevent fraud

Implement Cybersecurity Best Practices

Hackers, or even employees, can commit fraudulent activities on work computers. To protect your business data, set up strong passwords and consider using an antivirus program. It is also important to be aware of phishing attempts that often come through email. Additionally, it could be beneficial to back up your files on a frequent basis. This way if something does happen, your business data can be restored.

two hands pointing at a computer screen

Fraud could happen at any time during the year, and we are here to help keep you protected. Check in with your local OKFB agent and take some time to review your Commercial Insurance policy to ensure everything is updated and covered.

End of Year Checklist for Businesses

As the end of the year approaches, every small business has things they need to do to prepare for the upcoming year. Review your business’s activity and begin strategizing on potential changes that could help further drive your business’s success. This process may seem overwhelming, so here are five things to start with when compiling an end of year checklist!

Finances

Towards the end of the year is the perfect time to review your business’s finances. For instance, completing a profit and loss statement, balance sheet or cash flow statement. These documents help pull together the big picture of a business’s financial fitness. With this financial information, you can assess which times of the year your business performed the best and worst. Knowing this can help when strategizing next year’s goals for each quarter.

Employees

While revenue plays a significant role in business, it’s also important to reflect on your team and how they’re doing. This could be a good time to provide employees with feedback, as well as ask for any in return. Getting employee input on processes or projects may bring up ways to increase efficiency. Also, remember to audit personal employee information, as it is important to ensure this general information is always up to date.

Marketing 

Now is also a good time to review marketing efforts and impacts from the past year. Reflecting on past actions can help strategize and prioritize the best marketing efforts that can produce the biggest return on investment. For example, your business’s online presence is crucial. Ensure that your website and social media efforts are working the way you need them too. If they aren’t, then this is an opportunity to think about how to improve these channels and implement any changes. 

Achievements

Although taking note of administrative information is important for annual planning, it is also important to reflect on past wins and achievements. Celebrate and share these successes with your employees and customers. This could be a great way to end the year on a high note and get excited about your company’s future and goals. 

General Housekeeping

This could be a great time to make sure all the little things are in order. Conducting an audit over digital data could be a great start. This can mean filing information to ensure everything is organized or even backing up data. Additionally, conducting a physical inventory could provide insight on which products sell and which don’t. General housekeeping can offer a fresh start when the new year begins.

Along with completing an end-of-year checklist for your business, remember to also check in with your OKFB agent and review your Commercial Insurance policy. Many changes and updates can happen in a year, and as your partners in business, we want to help ensure you’re covered. Check out our Businessowners Insurance policy, specifically tailored for small businesses, as well as our commercial policies to ensure your business is protected.

Secure Your Packages & Home

An uptick in online shopping can also mean an uptick in package theft. To help keep your packages and home safe, here are a few helpful tips. Consider these tips while you’re online ordering this summer to be sure your packages and home are safe. 

Ways to Reduce Your Risk of Package Theft

  • Consider having packages delivered to your place of employment, rather than your home. By doing this, you won’t have to worry about a package sitting unattended on a front porch all day. 
  • See if it’s okay to have your package delivered to a relative or friend if you know they will be home during delivery. Be in touch with whomever is going to receive it, so you can give them a heads up and coordinate getting it promptly from them. 
  • Check in to having your items held at a local post office for pickup. By doing this, you can get the package whenever you have time and it will be waiting in a secure location. 
  • Some stores offer a “ship to store” option. This is a good option for getting the package delivered close to home at a nearby store – for easy pickup when you have time.
  • You may be able to stipulate that your package requires signature confirmation for delivery or ask the carrier to leave your items in an area out of view. 

What Smart Home Devices Can Help Secure Your Home? 

  • Secure package dropbox. You can purchase and install a heavy-duty, secure dropbox to go on your front porch. Then you can leave delivery instructions for your carrier to deposit the package in the dropbox – the carrier can use it, but thieves have a hard time penetrating the dropbox. These boxes have been invented in recent years due to the uptick in packages being stolen from porches.
  • Smart doorbells. These advanced doorbells normally feature cameras and can detect motion outside a front door. If connected to WiFi and a smartphone, the doorbell camera can show you at any time and from anywhere what is happening live on your front porch.
  • Smart door locks. There are many options for smart door locks, including some that unlock with a fingerprint scan, a mobile app, a keypad, or even a voice command. Smart door locks provide advanced options and can free you from a traditional house key. Some will even let you provide unique visitor codes to guests or delivery drivers.
  • Smoke and carbon monoxide detectors. These devices can help keep your home safe from fire and fumes. Some new versions of smart detectors can include advanced features that send alerts/alarms to your smartphone or that go as far as contacting local firefighters if there is an issue while you’re not at home.

These tips and smart devices can help improve the safety of your packages being delivered and your home as a whole. Having the right amount of home insurance coverage can also help ensure your home and valuable assets stay protected. Contact an agent today to see how much coverage you may need.