4 Areas Covered by Auto Insurance

You probably have car insurance in Oklahoma City, OK because you know it’s necessary. But do you know that your car insurance protects you beyond compliance with the law? If you purchase car insurance from Freeland Insurance, it covers you in the areas below:

  • Liability coverage: This is a big one. While you might be careful on the road, accidents can happen. Unfortunately, if you are at fault for an accident, you may be accused of bodily injury and property damage. Since liability claims can be costly, you must consider sufficient liability coverage in your auto insurance policy.
  • Asset protection: You have worked so hard to purchase your vehicle. It would be a shame to watch your hard-earned investment go down the drain. Thankfully, if you have car insurance, it can compensate you when you lose your car to damage or theft. While car insurance doesn’t prevent perils, it ensures you don’t start from scratch when the unthinkable happens.
  • Medical payments (MedPay) coverage: With the rising healthcare costs in America, you can’t afford to go on with life without sufficient health coverage. MedPay coverage pays for the medical expenses when you and your passengers sustain auto injuries. Better yet, this coverage may cover partial loss of wages if the injury keeps you away from your income source.
  • Emergency assistance coverage: Sometimes, your vehicle can break down when you least expect it. An electrical or mechanical breakdown can occur when you are miles away from your residence. However, a dead battery, puncture, or running out of gas shouldn’t leave you stranded on the highway when you have roadside assistance coverage. All you need to do is call your insurer for help.

Want to invest in car insurance in Oklahoma City, OK? Please get in touch with Freeland Insurance for a quote.

What Does Financial Services Insurance Cover?

What Does Financial Services Insurance Cover?

Like most industries, the financial service sector is rapidly growing, leading to the emergence of new risks. Without a valid insurance policy, the risk of things going south is high in this competitive, highly-regulated sector. At Freeland Insurance in Oklahoma City, OK, we offer financial services insurance, and here is how this coverage protects your institution.

  • Cyber liability protection: Given the amount of personal data that financial institutions store, one cyberattack will likely cause untold financial consequences. While you may have installed risk mitigation measures, hackers may still be one step ahead of you, and data breaches can occur. Luckily, you can run to your insurance coverage to help you cushion yourself from the financial consequences of a cyberattack.
  • Professional liability: If a stakeholder sues you for negligence, missed deadlines, or incomplete work, you can run to your financial services insurance for protection.
  • General liability: Like any other business, financial institutions aren’t safe from liability claims. Luckily, financial services insurance can always bail you out when facing property damage, bodily injury, and advertising injury claims.
  • Property coverage: Your business must have invested in multiple assets to deliver seamless financial services. In light of this, you must invest in insurance coverage that protects your assets when the worst happens.
  • Worker’s comp insurance: This insurance protects your employees against illnesses and work-related injuries. This means that you don’t have to enter your pocket to cover medical costs for your injured or sick employees.
  • D&O coverage: This insurance protects individuals when they are sued because of serving as an officer or director of a financial institution.

One of the best ways to set your business apart is investing in financial services insurance coverage. This way, you will have taken care of your risks to concentrate on the most critical aspects of your business. To get financial services insurance in Oklahoma City, OK, please contact Freeland Insurance.

When Do Small Businesses Need Commercial Umbrella Insurance?

Small businesses are the backbone of the American economy. According to The U.S. Small Business Administration, there are 31.7 million small businesses in America, and they account for 47% of all jobs in the country.

These businesses face a wide range of risks every day. Many small business owners are surprised to find out that their carriers’ general commercial liability insurance does not cover all of these risks. This often results in a total loss for the company, especially if a large liability claim catches it off guard. Here we will talk about the most common types of risks that small businesses face and how they can be financially protected.

Commercial umbrella insurance is a policy that acts as an extension to your existing commercial liability policies. In addition to covering damages, lawsuits, and legal costs from general negligence claims as part of your existing carrier’s policy limits, it can provide additional liability protection beyond your existing limits. This can help prevent a financial crisis in the event of a catastrophic loss.

Let’s take a look at an example of a situation where small businesses need commercial umbrella insurance.

In the event of a large liability claim, your commercial insurance policy will likely not cover all of the costs associated with the settlement. This is most often the case for small business owners who have a hard limit on how much they are insured. For example, if you have a $1 million commercial liability policy, but you end up with a $2 million settlement resulting from a large lawsuit, your carrier will only pay out the first $1 million. Your umbrella insurance policy would pick up an additional 1 million dollars subject to the limits of your policy.

Commercial umbrella insurance is an essential product for small businesses. It can provide additional liability protection and help you avoid a financial crisis in the event of a large claim in Oklahoma City, OK. Call Freeland Insurance to learn more today.

Benefits of Health Insurance

There are several benefits to Health Insurance, the most important being peace of mind that you have insurance to help you pay for medical expenses you may incur. An informed decision when it comes to health insurance is vital. Freeland Insurance serving Oklahoma City, OK is here to help answer any questions you may have.

Qualified health care plans meet the Affordable Care Act requirements and provide the following essential health benefits subject to agreed-upon network coverage, co-payments, deductibles, and out-of-pocket expenses including:

  • Emergency services – in an emergency, it is often difficult to think clearly, and you may need to rush or be transported to your closest hospital for treatment.
  • Hospitalization – admission to the hospital for ill health or non-elective surgery.
  • Mental health services – this may include counseling and psychotherapy.
  • Prescription medications – medicines for chronic and acute illnesses and poor health.
  • Rehabilitation services – these may include certain types of therapy to assist in regaining physical and mental abilities.
  • Laboratory Services – may include things like blood tests.
  • Preventative and wellness services – subcategorized into preventative health measures for women, men, and children.
  • Maternity and baby care – services while you are pregnant, including care for your newborn after birth.
  • Pediatric services – these include certain services for your children if they are covered by your health insurance plan.
  • Outpatient services – certain health care services that do not require hospitalization.

The list of benefits is extensive. However, the insurance plan still needs to be tailored to you and your family, depending on your budget and requirements. To successfully navigate and set up a health insurance plan for your benefit, speak to the folks at Freeland Insurance serving Oklahoma City, OK, and purchase peace of mind.

Who Will Be Covered in Your Life Insurance Policy?

Are you looking to buy life insurance in or near Oklahoma City, OK, and aren’t sure to whom your policy will pay? Talk to us at Freeland Insurance to learn more about this situation and how we can help you choose a policy that works for you.

Deaths Covered By Life Insurance

Almost all deaths are covered by life insurance, depending on your policy. For example, homicide is covered unless the person getting the money from the policy is the murderer. And suicide has a two-year clause, meaning that people who buy an insurance policy cannot collect if they commit suicide before this time passes. Such clauses are essential for protecting the rights of the insurance company. 

Beyond these rare exceptions, your policy should cover natural causes – heart attacks, stroke, cancer, sudden death, etc. – and accidental deaths – drowning, car accidents, fire deaths, etc. And when you create a policy, you list many people for whom your policy will payout. Therefore, it is essential to understand who makes an excellent executor get the best results for your needs in this situation. 

Policies Pay to Whom You Want

The benefactor of your policy will vary, based on whom you want to get money. It will typically cover only the death of the person holding the procedure and no one else in your family, though. But when you die, the person you name as the executor will distribute the money to the proper people. These may include your spouse, children, friends, family members, or anyone else you want to name.

Get a Great Policy Today

So if you want a level of protection that will keep your family safe, please contact us at Freeland Insurance today. We provide Oklahoma City, OK, residents with fine life insurance policies to protect their families.

Learn About Commercial Insurance

As a business owner, you no doubt wear many hats in an effort to operate your business and care for customers and employees. Having the right insurance in place can make all of these tasks less stressful. At Freeland Insurance serving Oklahoma City, OK, we strive to provide you with the best insurance information. Keep reading to learn more about commercial insurance.

What Is Commercial Insurance?

Commercial insurance is a unique type of bundled insurance product which were specifically designed with the business owner in mind. These insurance products help you to provide protection and security for your employees and your customers. These products also help to protect the investment of time and money you have made into your business. 

What Does Commercial Insurance Cover?

Every business is different, and that is why commercial insurance can be customized to suit your particular needs. However, there are certain elements of business that are commonly covered under this type of policy. A commercial insurance policy will generally provide the following types of coverage.

  • Auto insurance- If your business operates vehicles as part of your day-to-day operations, a commercial policy can provide the auto insurance necessary to keep your vehicles and drivers safe and legal. 
  • Property damage- If you operate a brick and mortar business, property damage coverage is essential in the event that your property is damaged through fire, natural disaster, or burglary. The insurance policy can help to replace or repair damaged property or lost equipment or assets. 
  • Liability coverage- If an employee or a customer is injured at your place of business or because of your goods or services, liability coverage will pay for expenses resulting from the incident. 

If you would like to learn more about our services, please contact us at Freeland Insurance, serving Oklahoma City, OK. 

Why is location an essential consideration when buying a home?

Any realtor will tell you that location is the single most critical factor to consider when buying a new home in Oklahoma City, OK. You might find a beautiful house that has all the features and amenities you’re looking for but located in an undesirable neighborhood. Before getting attached to the dwelling, consider your location-related needs, such as nearness to schools and medical care services. You also don’t want to juggle your life in an unsafe location. At Freeland Insurance, we also check the location of your home to determine your rates. 

Appreciation value

The appreciation and depreciation value heavily depends on the location of the home. Some places undergo extreme development in terms of infrastructure, facilities, and connectivity that makes the land around valuable. If you are buying a home to sell in the future, you may want to check how location impacts Return on investment (ROI), so it’s easier to sell at a profit.

Security

Safety is a top priority and a common reason to assess the location before striking any deals. No one wants to live in an area they feel unsafe or unprotected. You can check various reports about crime in the area you’re interested in online. Remember, your insurance premiums will likely go up if your home is located in a high crime rate area.

Connectivity

A beautiful neighborhood should be supplied with well-maintained roads and easy access to public transport. That way, you don’t have to worry about catching a bus to work when your car has a mechanical problem.  The house should not be far from the city’s landmarks such as parks, highways, and business centers.

Facilities

Whether you have children or not, proximity to restaurants, parks, grocery stores, and schools is a must. Properties near useful facilities are considered safer, convenient, and full of life than properties where you have to travel miles in Oklahoma City, OK, to find a shopping center.

Don’t forget to buy adequate insurance to protect your new investment. For more information, feel free to contact Freeland insurance today.

Does Umbrella Insurance Cover Property Damage?

Having umbrella insurance in Oklahoma City, OK, has become a very common practice. As a leading insurance company in the region, Freeland Insurance notes that most people are interested in this policy. The only problem is that most of them do not know what umbrella insurance is and whether it covers property damages. 

What is Umbrella Insurance?

If you’re held liable for certain damages, chances are your liabilities will exceed what you have already covered. This is a huge nightmare that might lead you to lose much of your savings. 

To prevent you from going through this experience, umbrella insurance comes in hand to help you cover such extra liabilities. Therefore, it is a liability policy that that only covers what is in excess of what you have already insured. 

Does Umbrella Insurance Cover Property Damages?

As highlighted above, umbrella insurance is a liability policy. Therefore, this insurance policy will only come in handy where you have been held liable for damaging someone’s property. 

Therefore, umbrella insurance is used in covering property damages. If your homeowners’ insurance is falling short of your liabilities, it is essential to pull out your umbrella insurance to cover the shortfall. 

Is Umbrella Insurance Regularly Needed?

It will always be very hard for your liabilities to exceed what you have already covered. This means that you should not get worried about your liabilities. However, bad things happen, and you’ll be on the receiving end of huge property damage. Buying umbrella insurance will help you to cover extra costs.  

Is Umbrella Insurance Worth It?

As a resident in Oklahoma City, OK, having umbrella insurance is worth it. You never know whether your different types of insurance policies will fall short when needed. Contact Freeland Insurance and speak with our professionals to get more details about umbrella insurance and why you need it.

Why should I get financial services insurance?

The financial services industry is a very important one as it helps to ensure people all over the country are able to reach their financial goals. For those that are in the financial services industry, there is a lot of opportunity for success due to the demand for these services. Those that are in this industry in the Oklahoma City, OK area should get proper insurance. There are several reasons why someone should get a financial services insurance plan here. 

Professional Liability Coverage

An important reason to get a financial services insurance plan is so you can receive professional liability coverage. Those that are in this industry could face a liability claim if they are determined to be at fault due to negligence or other issues and it results in a loss for a customer. If you have a financial services insurance policy, it will give the coverage needed to offset this risk.

Coverage for Business Assets

You will also want to have a financial services insurance plan to cover your business assets. A financial services firm will own a variety of assets that are needed to provide good service to their customers. This can include office furniture, electronics, and other items that require a major investment. A full insurance plan will give the protection needed to repair or replace these assets if there is an incident of theft or something else that results in a loss. 

If you are in the financial services industry in the Oklahoma City, OK area, having financial services insurance is very important. When you are looking for this insurance here, it would be helpful to speak with Freeland Insurance. The insurance professionals at Freeland Insurance understand the importance that comes with this type of coverage. They can offer you the guidance that you need to choose a new plan that meets your needs. 

Who Needs Umbrella Insurance in Oklahoma City, OK?

If you are wondering how to get umbrella insurance in Oklahoma City, OK, it might help to go to an insurance company for answers to your questions, such as Freeland Insurance.

If you are wondering if you are in need of umbrella insurance in Oklahoma, you should look into what it can do for you. It is a great way to ensure extra protection for your assets. If the liability limits on your auto insurance, home insurance, and other insurance policies are exhausted, this is when umbrella insurance policies can take over and give you the additional protection that you need. Many people may not want to get umbrella insurance because of the extra expense, but if you end up needing it, the benefits will definitely be well worth the cost.

There are certain things that could happen that could require more than your liability limits on your other insurance policies. For example, if there is an accident on a rental property of yours or your dog bites someone’s child, your current liability limits may not be enough to cover your expenses. In this case, an umbrella insurance policy would be extremely useful, and you would end up being grateful that you had one even if you had to spend some extra money to have it. An umbrella insurance policy can give you a second layer of protection of up to about $1,000,000, although higher limits could be available as well.

If you are a resident of Oklahoma City, OK and you are interested in learning more about umbrella insurance in your area, you should feel free to contact the professionals at Freeland Insurance. They will be able to answer any questions that you might have and perhaps point you in the right direction when it comes to choosing a policy for yourself.