An adjuster is an individual who will work to settle an insurance claim.
An insurance agent is an individual who solicits insurance contracts. Insurance agents are also knowledgeable in their field, helping policyholders find coverage that suits their needs. You can find an OKFB agent here.
A bodily injury is an injury sustained by an individual.
A CD, or certificate of deposit, is typically a low-risk money management tool that provides a fixed interest rate on monetary deposits over an agreed upon amount of time.
Request to an insurance company in which those who are making the claim are looking for a payment based on the type of insurance policy they have.
Insurance coverage is the amount of risk or liability that is covered financially by insurance in the event of a loss, lawsuit or accident.
A deductible is the agreed upon amount you must pay before the insurance on your policy begins to provide coverage.
A dwelling is a house, apartment or other place where you live.
Includes equipment that is used on the farm like harvesters, planters and tractors.
Fixtures, like sinks, are typically furniture or equipment attached in a fixed position on a property.
An insured is the individual covered under an insurance policy. Also known as a policyholder.
Liability insurance protects the insured from lawsuits in case of bodily injury or property damage where the insured is found to be at fault.
A limit is the maximum amount of insurance protection you may purchase for a specific coverage option.
Includes sheds, detached garages and barns.
The owner of the insured home also lives in that home.
An insurance policy is a contract of insurance between the insured and insurer.
A policy number is a unique ID that will attach a specific policy to a named insured.
A policyholder is an individual covered under an insurance policy. Also known as the insured.
A premium is the cost an insurer sets for the coverage listed in an insurance policy.
Those who live in a home that they do not own.
A vehicle that consists of a semi-tractor and an attached trailer.
Umbrella insurance provides additional liability coverage above the limits of a current homeowner or auto policy.
The information on this website is not a contract, as it is provided for general information to explain potential types of insurance coverages. Further, descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. Please read actual policy documents for important details on coverages, exclusions, limits, conditions, and terms. If there is any conflict between the summary and/or information on this website versus the policy documents, the policy documents shall control. Please contact an Oklahoma Farm Bureau Mutual Insurance Company (OFBMIC) Agent to learn more about insurance coverages offered by and through OFBMIC.