Category: Umbrella

Teen Driver Coverage Made Simple

Adding a teen driver to your OKFB auto insurance policy is a major milestone; one that brings a mix of pride, nerves, and practical questions. At OKFB Insurance, we’re here to make that transition easier for Oklahoma families, by helping you find the right balance between cost and protection.

Whether your teenager just earned their learner’s permit or is taking the wheel for their first solo drive, here’s what you need to know to keep them safe, and keep your coverage smart.

Start With the Basics: Keep Them on the Family Policy

Our agents consistently recommend keeping teen drivers on the family policy rather than setting up a separate one. It’s simpler, and ensures that everyone in the household is covered under the same umbrella.

Even if you purchase a vehicle just for your teen, it’s important to list them as the driver of that vehicle. This keeps your policy accurate and your claims protected.

What Affects Premiums?

Today’s premium rates are shaped by a highly complex system that takes into account dozens of factors, including:

  • Age and gender
  • Vehicle type and horsepower
  • Safety and tech features

This algorithm-driven model means no two quotes are alike, and even small changes (like switching cars or adding safety features) can affect your premium in unexpected ways.

That’s why having a local OKFB agent matters more than ever — we help you navigate the complexity, uncover hidden savings, and ensure you’re paying for the coverage you actually need, not just what the algorithm suggests.

Don’t Miss These Two Key Discounts

Too often, families overlook some of the best ways to lower teen driver premiums: 

  • Good Student Discount: Students who maintain a “B” average or better (3.0 GPA) may qualify for a Good Student Discount with OKFB Insurance. Just provide a recent transcript or report card.  It’s one of the most missed savings opportunities!

  • Defensive Driving Course: Teens who complete a state-certified Defensive Driving course are eligible for another discount. This is not only smart for safety, it can also lower premiums for three years.

Recommended Coverage: Safety First

For families with teen drivers, we recommend maintaining comprehensive protection, including:

  • Liability Coverage – In case your teen is at fault in an accident
  • Collision Coverage – To help repair their vehicle
  • Comprehensive Coverage – For damage not caused by a collision (hail, theft, etc.)
  • Uninsured/Underinsured Motorist Coverage – A must in Oklahoma to mitigate risk from drivers who lack sufficient coverage, because you never know what others are bringing to the road.
  • Umbrella Coverage – Additional liability protection that adds peace of mind

Teen drivers face higher risk on the road, so now’s the time to review your limits and consider increasing them where appropriate.

What Parents Ask Most

Our agents hear it all the time: “How much more will this cost?”
The answer: It varies. But the good news is, there are clear steps you can take to maximize value and minimize risk, and we’ll walk you through each one.

We’re Here for Every Milestone

At OKFB Insurance, we understand that adding a teen driver isn’t just a policy change, it’s a family milestone. Our local agents are here to guide you through it, make sure you’re protected, and help you access every discount available.

Because when your teen takes the wheel, you deserve to feel confident that your coverage is working as hard as they are.

We’re Here to Help

Whether you’re a longtime policyholder or just starting to look for insurance options, we’re here to help. If you have questions or concerns that you want to discuss, connect with your local OKFB agent today. If you have any insurance-specific questions, we would love to help you find the coverage that best meets your home, auto, commercial and life insurance needs.

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Quiz: How Well Do You Know Your Insurance Policy?

Are you familiar with your Oklahoma Farm Bureau Insurance policy?

“Yeah, I practically have it memorized!”

“…well, kinda.”

 

Answer the following questions to test your OKFB insurance policy knowledge. The prize for a perfect score? Major bragging rights. (Scroll down to see the answers!) However, if your score isn’t what you expected and you have some questions, don’t worry! Your OKFB agent will be happy to answer any questions you have – no matter how big or how small. We’re here for you.

  1. What is “umbrella coverage”?
    a. Coverage that only goes into effect during inclement weather
    b. Coverage that provides higher limits of protection
    c. Coverage that protects your umbrella against damage and/or theft
  2. Which of the following is NOT considered a ‘dwelling?’
    a. A home
    b. A mobile home
    c. Any shop that sells food or drink items
  3. If you want to contact your local agent, what do you do?
    a. Visit the Find An Agent page on the OKFB website
    b. Holler real loud
    c. Call the operator
  4. What is a CD?
    a. One of those tiny records kids are listening to these days
    b. Celine Dion’s initials, of course
    c. A certificate of deposit – a low-risk money management tool that provides you with a fixed interest rate
  5. Can a jet ski be placed on a boat insurance policy?
    a. Yes
    b. No
    c. Yes, but only if it’s really cool
  6. I’m building a home. Can I insure a home that’s under construction at any time throughout the construction process?
    a. Yes, as long it doesn’t have more than 5 bedrooms
    b. No, the policy must be put into effect before construction of the home begins above ground level
    c. Maybe, but your contractor will decide
  7. How many Oklahoma counties have OKFB Insurance offices?
    a. 5
    b. All 77
    c. 56
  8. What animals can be insured on the 4H/FFA policy?
    a. All animals, besides dolphins
    b. Any animal that walks on 4 legs is eligible
    c. Show animals belonging to club members of the insured 4H or FFA club
  9. Does General Liability cover me if my employees are injured?
    a. No, you will need a Workers Compensation policy to cover your employees
    b. Yes.
    c. Only if you’re at fault
  10. Are my farm employees allowed to drive my insured farm automobiles?
    a. Only if they drive under 10 miles per hour
    b. Yes, if their driving record is acceptable
    c. Yes, but off-road vehicles are excluded

 

ANSWERS

  1. What is “umbrella coverage” anyway?
    Answer: B. Umbrella coverage provides higher limits of protection against bodily injury or property damage claims by a third party.
  2. Which of the following is NOT considered a ‘dwelling?’
    Answer: C. A dwelling is a house, apartment or other place where you live.
  3. If you want to contact your local agent, what do you do?
    Answer: A. Visit the Find An Agent page on the OKFB website.
  4. What is a CD?
    Answer: C. A certificate of deposit – a low-risk money management tool that provides you with a fixed interest rate. When you deposit your money into the account, however, you agree not to make any withdrawals for a certain period of time. You get your money in addition to whatever was earned in interest back at the end of that time.
  5. Can I place a jet ski on a boat insurance policy?
    Answer: A. Yes. Boat Insurance options and features include:
    Liability
    Medical payments
    Physical damage
    Ask your OKFB agent about insuring your jet skis on a Boat Insurance policy.
  6. I’m building a custom home. Can I insure my home at any time throughout the construction process?
    Answer: B. No, the policy must be put into effect before construction of the building begins above ground level. If you’re a builder, then check out available coverage options for builders.
  7. How many Oklahoma counties have OKFB offices?
    Answer: B. You can find OKFB agents in all 77 Oklahoma counties. Use the Find An Agent tool to locate an agent in your area.
  8. What animals can be insured on the 4H/FFA policy?
    Answer: C. You may insure show animals belonging to club members of the insured 4H or FFA club. Raising a lamb, pig or other farm animal for 4-H or FFA club exhibitions or contests requires not only skill, but hard work and lots of dedication. Therefore, consider insuring your animals with 4-H and FFA insurance from a company that understands the effort you put into your show animals.
  9. Does General Liability cover me if there are injuries to my employees?
    Answer: A. You will need a Workers Compensation policy to cover your employees. However, if you don’t know what kind, or how much coverage you need, contact your OKFB agent. We’re happy to help!
  10. Are my farm employees allowed to drive my insured farm automobiles?
    Answer: B. Yes, farm employees may drive your insured farm automobiles however, their driving record must acceptable. You can easily provide their driver’s license information to your OKFB agent to add them as approved drivers.

 

 

Defining Insurance Jargon

Insurance has your back by ensuring your assets are covered, but insurance jargon can often get in the way of you clearly understanding your policy. To help make sense of your insurance policy, here are 10 common insurance terms that could help when both reviewing policies or speaking with your agent.  

Line(s) of Insurance: A class of type of insurance e.g. home insurance, auto insurance, commercial insurance, etc. 

  • Example: Charles has two lines of insurance with OKFB: Auto Insurance and Farm & Ranch Insurance.

Deductible: A specified amount of money that a policyholder must pay before an insurance company will pay a claim. 

  • Example: Esther has to pay a deductible of $300. After she pays her deductible, OKFB will pay the remainder of the claim that is stated in her policy.

Claim: A request or demand for payment from an insurance carrier, as defined in the policy.

  • Example: Carl and Robert filed a claim after a tornado impacted their car and farm. See how Billy and the rest of our team immediately worked to fulfill it here.

Coverage: The extent an item or property is insured in the event of an accident. 

  • Example: Daniel got a full coverage auto insurance policy with OKFB, so he is covered in the event that he is in an accident. 

Umbrella Coverage: Provides higher limits of protection against bodily injury or property damage claims by a third party. 

  • Example: After careful consideration, Anthony decided that umbrella coverage would offer greater protection and peace of mind.

Risk: The chances a loss could potentially occur. 

  • Example: Christie carefully explained the risks associated with lower coverage insurance policies, so I opted for more coverage. 

Policy: The contract between a policyholder and insurance carrier. 

  • Example: Lauren has an auto insurance policy with OKFB Insurance, so OKFB insures her vehicle in the case of an accident.

Premium: Cost an insurer sets for the coverage listed in an insurance policy.  

  • Example: Marco’s premium for his homeowner insurance is $1,200, so he pays $100 every month. 

Quote: An estimate of premium for a specific line of insurance/policy. 

  • Example: Ashley just bought a new home and was looking for the best coverage on Home Insurance, so she used OKFB’s Instant Homeowners Quote to find OKFB’s prices.

Dwelling: A place of residence, e.g. a home, mobile home, etc. 

  • Example: After talking to my agent, I got Dwelling Fire Insurance on my vacation home in Broken Bow. 

Check out our glossary for more common insurance terms. If you have any questions or want further clarification about an insurance term contact your OKFB agent. Also, don’t forget to check in regularly with your agent to ensure your coverage is up to date. We’re here to help you through the unexpected.

Commercial Insurance 101

Owning a business takes dedication, vision and preparation. No matter the size of your operation, part of preparing means securing protection. Protection for employees and assets under a Commercial Insurance policy. The right policy could help save you money when accidents cause damage to equipment or property. If you’re new to owning a business, or just need a refresher on the basics, here are some coverage options to keep in mind when considering a commercial policy: 

Commercial Property

The property you choose for your business operations is crucial to its overall success. Along with the coverage chosen to help protect the property and everything inside of it. Things like building structures, inventory, equipment and leased property. These can be covered under commercial property insurance and is a great place to start when obtaining a policy. 

Commercial Auto

From hauling parts to delivering flowers, your company vehicles work as hard as you do. If you have company vehicles, you’ll want to secure commercial auto coverage for them. Features such as auto liability and uninsured motorist will protect the vehicle, as well as provide extra coverage. Extra coverage that will protect you, your passengers or other drivers of the vehicle. 

Commercial Liability

We know small businesses don’t always feel so small. Let us help take one worry off of your mind with a commercial liability policy. Liability claims can be devastating to a small business, so this insurance option can help protect your business from expensive liability lawsuits. Commercial liability coverage ensures that you and your assets are covered in case of an injury or property damage to others that occurs as a result of your operations. 

Commercial Umbrella

Umbrella policies provide overarching protection on top of general liability coverage. A commercial umbrella policy can provide additional coverage to your business that may not come with your general liability policy. For example, if your general liability policy didn’t fully cover the lawsuit costs, your umbrella policy would ensure business coverage.

When it comes to deciding what coverage fits your unique business needs, your agent can help you choose the right policy. Contact an OKFB agent today for more information about how we can help keep your business protected from the unexpected with our Commercial Insurance coverage.