Quiz: How Well Do You Know Your Insurance Policy? January 4, 2022 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. 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 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 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 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 Can a jet ski be placed on a boat insurance policy? a. Yes b. No c. Yes, but only if it’s really cool 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 How many Oklahoma counties have OKFB Insurance offices? a. 5 b. All 77 c. 56 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 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 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 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. Which of the following is NOT considered a ‘dwelling?’ Answer: C. A dwelling is a house, apartment or other place where you live. If you want to contact your local agent, what do you do? Answer: A. Visit the Find An Agent page on the OKFB website. 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. 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. 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. 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. 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. 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! 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.
A New Renters Insurance Guide June 7, 2021 Ready to get your own place, but not ready to commit to buying property? Renting is a great alternative and can offer the experience of living in different neighborhoods in a city. However, it is important to insure the place you are renting. As a new renter, understand what Renters Insurance is and why it’s critical to obtain. What is Renters Insurance? Renter’s Insurance is similar to Homeowners Insurance in that it protects personal belongings from unexpected damages or theft. Additionally, there are an array of coverage options to ensure that specific needs are covered. Do I Need Renters Insurance? Some landlords have property insurance that covers the building in case of the unexpected; however, this does not cover personal items. Renter’s Insurance can help provide peace of mind by providing coverage on personal belongings that are in your apartment, condo, duplex, etc. Some landlords may even require a renter to have Renter’s Insurance as a lease condition. However, something to note is that if a college student is looking to live in a dorm or you have a child that will be, contact your insurance agent to see if your homeowners policy covers dorms or campus housing. If not, it could be critical to get a Renter’s Insurance policy for them. What Does Renters Insurance Cover? See a few coverage options below: Personal Property: covers personal belongings inside the rented home in the event of damage or theft Additional Living Expenses: covers costs that could incur in the event that an individual and their family cannot live in the rented space due to a covered loss Personal Liability: ensures coverage in the event a person is legally liable for property damage or bodily injury Medical Payments to Others: can cover limited medical payments to those injured on the property, regardless of fault Renting is a great option to explore and could be the solution you need to venture out and enjoy life on your own. As you explore Renter’s Insurance and coverage needs or are already aware and have questions, don’t hesitate to reach out to a local OKFB agent.
Renters Insurance 101 August 1, 2019 Renting a place to live means you likely don’t have to get insurance to cover the structure in which you live. Consequently, many people will overlook the benefits of getting insurance for their personal property. Read on to debunk common misconceptions about renters insurance. 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. Even if the appliances owned by the landlord cause damage to your personal property, they will not be responsible. An example of this is if your refrigerator broke down and caused all your food to spoil. It would not be on the landlord to replace that food under their policy. If you don’t have renters insurance, you may lose hundreds of dollars worth of food items. Myth #2: “It’s too expensive” Fact: Renters insurance is actually quite affordable and provides coverage for all of your personal belongings. An average policy can protect your personal property in the event of an accident for affordable yearly price. Plus, there are additional discounts and credits you could be eligible for, such as bundling policies with the same agency. Myth #3: “It 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. For example, if your bathroom floods and seeps to other tenants’ personal property, a renters policy can help cover that damage. 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.
