Commercial Auto Insurance

Commercial auto insurance can cover various vehicle types (trucks, cars), drivers, and motorized equipment. It covers bodily injury liability and property damage when driving a work car, as well as medical payments or Personal Injury Protection (PIP) for the policyholder’s driver and passengers.

Auto Liability (hired/non-owned)

Do your staff drive their own automobiles, or do you rent them? This coverage protects your business against certain liabilities stemming from the usage of a rented or leased vehicle (hired) or a non-owned vehicle (employee using their own vehicle on company business). This coverage is frequently affordable when added to a company auto policy or, in certain situations, a general liability policy.

When Your Business Vehicle Is Also Your Personal Vehicle

Sometimes employees or executives of a company or other persons who are supplied with a vehicle owned by the company have only that vehicle. They do not own a personal vehicle nor do they obtain personal automobile coverage. The BACF does not cover personal use of the vehicle in this situation. To close this coverage gap, you need to add the Drive Other Car Coverage Endorsement to your BACF. This provides insurance while the named individual or a member of his or her family is driving a car borrowed from a third party.

Keeping Premiums Down

The best way to keep your business auto premiums down is to avoid accidents. Driving safety should be emphasized. Drivers should not be so pressured to produce that they feel compelled to drive unsafely. All vehicles should be well maintained.

Ask your agent whether your insurance company has business auto safety resources that you can use to help your organization be accident-free. For more information on reducing the risk of auto accidents.

When you own or run a business, you have a lot at at-risk and much to protect, and having the right business insurance coverage can be crucial to your long-term success. When it comes to protecting your business, fortunately, there are a variety of coverages to choose from. We represent a variety of carriers and are dedicated to assisting you in protecting your company from damage and liability. When you work with the team at the Oakwood Insurance Agency, you will receive personalized advice from an experienced agent who will assist you in developing a plan that includes all of the coverage you may require.

RV Insurance 101

You probably bought your motor home or travel trailer because it offers the best of both worlds: the ability to explore the world we live in and the convenience of your home each night when you pull over. Motor homes and travel trailers offer a freedom and joy that’s unique regardless of the size of the coach or fifth wheel.

But with this dual benefit also come some increased risks. As a vehicle, your motor home needs some auto-type insurance to protect you from crashes, medical costs, and the like while you’re driving on the road. But comprehensive RV insurance needs also to protect you when you have stopped and camped. That means you need insurance closer to what you find in a homeowner’s policy that includes features such as:

Personal Liability:

Protection in case someone is injured in or around your RV

Personal Property:

Enhanced property insurance that will protect the contents of your RV in case of theft or damage.

Additional Living Expenses:

Protection that helps pay for your cost of living if you are displaced from your motor home.

Attached Accessories:

Another layer of protection that covers your awning, tv antennas, or other accessories that might be damaged.

Other RV Insurance You Should Consider Is:

  • Collision coverage
  • Comprehensive coverage
  • Uninsured motorists’ coverage
  • Rental reimbursement coverage
  • Towing coverage

Getting the right recreational vehicle insurance doesn’t have to be expensive or difficult with an insurance expert on your side.

Some policies include Roadside Assistance, which has you covered 24/7 in the event of a breakdown or accident. Some will even allow you to upgrade the coverage to include lodging, transportation, and meal coverage if needed.

Recreational and full-RV timer insurance are the two most common types. Recreational insurance will protect your RV inside and out when you’re on the road or parked at a campsite if you don’t live in it full-time. A full-time RV insurance policy is for people who live in their motorhome or travel trailer full-time. Many of the coverages will overlap with a recreational policy, but you’ll be able to add coverages like personal liability and loss assessment that are similar to homeowner’s insurance.

For your protection and well-being, Oakwood Insurance Agency offers nearly every sort of personal insurance policy you may require. Please find a short but not exhaustive selection of our most frequent personal property, health, and life policies below. An Oakwood Insurance agent will explain our full range of insurance products and services during a personal consultation and create a tailored insurance plan with the right policies for your lifestyle, personal circumstances, and comfort level.

Gasoline Theft Is On The Rise, What Can You Do?

We expect that when the price of gasoline rises, the number of occurrences of fuel theft from gas tanks will rise as well. It’s combustible, dangerous, and difficult to transport, but that hasn’t stopped thieves from attempting to obtain this increasingly valuable commodity. Gasoline. Not only is it inconvenient for victims of this crime, but it may also be costly, as criminals are resorting to methods such as drilling into gas tanks to obtain fuel.

Here are some tips to help you avoid being a victim of gas theft.

  • Although parking in the garage is the ideal option if you must park on the street, try to do so beneath the light of a street lamp. The brighter the light on your car, the more likely the burglar will move on to a less difficult target.
  • Your tank must be locked. Consider purchasing a gas cap lock to prevent a thief from quickly siphoning gas from your tank.
  • Face the road ahead of you. When parking, make sure the gas door is facing the street. Thieves are more inclined to avoid an automobile that exposes them to the gaze of passers-by.
  • If you’re parking in a garage, look for a place near the exit or elevator because those have the most visibility and foot activity.
  • Take a Ride. The parking areas at airports are a refuge for gas thieves. To prevent leaving your car unattended in long-term parking, obtain a ride to the airport when traveling.
  • Avoid parking for long periods of time anywhere. If you’re going on a trip, for example, take a taxi to the airport rather than leaving your car in a long-term parking lot for days on end.
  • As always, if you notice something strange, call the police.

In 1989, Oakwood’s founder, Bruce L. Sogn, set out to establish a business that would give him the opportunity to serve the community and to fulfill a need in the marketplace. Today as an independent insurance agency, Oakwood does just that.

After researching the insurance industry, he found that by becoming an independent insurance agent, he could offer a comprehensive range of insurance products and services to his clients. By maintaining focus on competitive products, Oakwood has kept its commitment to service, professionalism, and the highest integrity.

How To Select The Right Insurance Agent For Your Needs

When it comes to protecting your financial assets like your home or auto, you can’t trust just anyone with your investment. Finding a trustworthy and trained insurance agent/broker could mean the difference between having enough coverage for your property following a catastrophic loss and being stuck with a large repair bill. An insurance agent/broker is a specialist who works on behalf of clients to find the best policy or insurance provider for their needs.

Consider the overall fit, not just the price, as the price can be deceptive. Be careful of someone who sells at low cost, generally, it means poor coverage. The same method you used to choose a doctor or dentist can be applied to choose an insurance broker. You want someone with a pleasant “bedside manner,” as it were.

Understand the differences in agents

Direct Writers vs. Independent Agents: There are two ways to obtain insurance coverage from a company. Direct writers are insurance companies that hire their own salespeople to write exclusively for them; they work for the company that employs them. Independent agents work for the insured rather than the insurance company. They do, however, have contracts with multiple insurance companies and can usually provide you with more options.

Signs It Is Time To Find A New Agent

  • They are responsive to calls and requests
  • You are the one that indicates all conversations
  • Requesting a quote is complicated
  • When a claim occurs they are nowhere to be found

Qualities of a Good Agent

  1. Trustworthy
  2. A good Listener
  3. The desire to teach you rather than sell you
  4. Someone who view insurance as a promise not a product
  5. A good agent will want to develop a relationship with you not just sell you then move on.

How To Start The Process

Testimonials: Yelp, LinkedIn, Facebook, and other social media platforms can help you determine whether or not a business provides good service. These websites can be useful, but meeting with an agent or broker in person is one of the greatest methods to determine whether or not they will take good care of you.

Personal Recommendations: Consult with your coworkers, people you trust, and your circle of friends. Asking a complete stranger is preferable to relying on advertisements or the yellow pages. People are more likely to refer others with whom they have had a good encounter.

Ask Questions

Consider this like an interview, where you are selecting a person and agency to represent you.

  • How long have they been in operation?
  • What are their certifications if any? Look for agents with advanced designations such as Chartered Property Casualty Underwriter (CPCU), Certified Insurance Counselor (CIC), Chartered Life Underwriter (CLU) or Accredited Adviser in Insurance (AAI).
  • Which companies do they represent?
  • How will the renewal processes work?
  • If you’re going to have a personal account manager?
  • How will they help if a claim occurs?
  • What experience do they have with risks like yours?
  • What they charge for services and/or how they are compensated?
  • Ask them to review your current policies and make recommendations?

Conduct interviews with the contenders to determine which one is the best fit for you. Selecting a broker with strong communication skills will allow you to find an agent who is easy to relate to and who can provide you with information you need to understand your risk and how to best manage it.

Oakwood is involved with numerous local, state, and national insurance associations and communities. The agency encourages employees to devote time to these endeavors. Oakwood’s approach is one of total risk management, encompassing the areas of property & liability insurance, automotive insurance, worker’s compensation, professional liability, individual or group accident & health insurance, life insurance, contract surety bonds, and personal insurance. Oakwood provides an in-depth range of insurance products and services to assist in securing our clients’ future. We are an agency committed to excellence, founded on the principle of integrity.

2022 Insurance Planning

It may be imperative to evaluate your personal insurance program now that 2022 is approaching. Before buying insurance, most consumers don’t take the time to consider their exposures, options, or present financial situation. It’s critical to take stock of your own finances in order to plan for the future. Here are some ideas to get you thinking about your personal insurance. Of course, we always advise that you contact our office for additional information.

  • Make Sure That You Are Dealing With A Licensed Insurance Agent – Insurance companies and agents are both required to be licensed by the state, and their information may be found online at the state’s insurance department. Most state insurance departments have resources online to aid you in choosing the correct insurance and ensuring that the person or organization you’re dealing with is an expert in that field.
  • Examine Your Automobile Limits – If your policy limits are less than $100,000, you won’t be able to cover your medical expenditures in the event of a major accident. Anyone with any assets or income to protect should get minimum liability coverage of $500,000 to $1 million or more.
  • Look for Discounts – Many insurance firms offer a 10% or higher discount to customers who have other insurance contracts with them (such as auto or RV insurance). Consider getting an insurance quote from the same company that provides your homes insurance for other forms of insurance. You might be able to save money by bundling.
  • Recognize The Risks And Coverage You Require – Every property is unique and comes with its own set of risks. The type of insurance required will also be determined by whether the property is utilized as a primary residence, a long-term or short-term rental, or a condominium. In general, homeowner’s insurance is intended to protect against dangers beyond the owner’s control, such as rain, wind, fire, vandalism, pipe bursts, falling objects, theft caused by broken glass, and so on.
  • Keep a Home Inventory — Keeping an accurate inventory of your personal belongings will help you recover faster in the event of a loss.
  • Bundle Your Insurance – Save money by combining your vehicle, house, and umbrella policies with one insurer.
  • Choose the Right Deductible – A greater deductible lowers your premium, but you’ll be responsible for more out-of-pocket expenses in the event of an accident. If you have a clean driving record and no accidents, you might choose to take a chance and pay a higher premium. The benefit for taking this risk might be as much as a 40% discount.
  • Consider Identity Theft — One of the fastest-growing crimes in the United States is identity theft.
  • Read Your Policy – I’m not referring to the 1-2 page Declarations Page that serves solely to demonstrate coverage, but rather the 20-30 page insurance Binder or Policy that provides the specifics of the coverage and exclusions. Nobody enjoys reading insurance policies, so don’t be surprised if you don’t comprehend them.
  • Purchase from a financially stable business — Your insurance coverage is only as good as the firm that backs it up. The insurance firm should be rated “A+” or better.
  • Be willing to make changes as your lifestyle and requirements evolve.

What’s In Your Policy?

Homeowners don’t always review their policies until they have a claim. Only to discover that their coverage isn’t what they expected. That is why it is critical to understand what you are paying for. We believe it is important to understand what you are purchasing. So let’s start with this overview.

Here are a few of the coverage you need to consider. So what’s in your policy?

Are you covered for flood loss? 

Most basic homeowner’s insurance policies exclude flood coverage. A separate flood insurance policy is required, which can be acquired through the National Flood Insurance Program. Your agent can assist you.

Do you know your deductibles? 

You will be responsible for a deductible if your house and goods are harmed in a covered loss. Your agent can tell you the amount if you don’t know.

Do you have ACV or replacement cost coverage?

Actual Cash Value (ACV), which reflects depreciation, and Replacement Cost (RC), which is what it costs to replace the item today, are the two ways claims are settled. Ask your agent if you’re not sure what you have.

Have you considered a personal umbrella policy? 

Umbrella insurance is a type of personal liability insurance that covers claims in excess of regular homeowners, auto, or watercraft policy coverage. Get a quote today.

Our agents will give you great service and the products you require, whether you need to safeguard your car and home, want insurance for the contents of your apartment, or need a general umbrella policy for peace of mind. We take satisfaction in providing personal insurance coverage that safeguards your most valuable possessions. We want to make sure that your insurance coverage covers your most important people and resources.

Oakwood is involved with numerous local, state and national insurance associations and communities. The agency encourages employees to devote time to these endeavors. Oakwood’s approach is one of total risk management, encompassing the areas of property & liability insurance, automotive insurance, worker’s compensation, professional liability, individual or group accident & health insurance, life insurance, contract surety bonds, and personal insurance. Oakwood provides an in-depth range of insurance products and services to assist in securing our clients’ future. We are an agency committed to excellence, founded on the principle of integrity.

The best way to solve a problem is to first understand it. To understand a problem involves asking questions, reviewing agreements, and visiting the facility or business. We believe that a professional agent must do more that merely issue insurance on the client’s behalf. Besides determining and placing proper coverage with reputable insurance companies, we seek to educate our clients on coverage and to reduce, or transfer risk to the insuring company, and working closely with management team to protect and preserve assets.

How To Avoid Contractor Insurance Scams

As a homeowner, you carry homeowner’s insurance to protect yourself in case of damage to your home. A devastating storm can leave flooding waters, property damage, and personal injuries in its wake. Perhaps one of the least expected dangers that follow a storm is fraudulent contractors. Most contractors are honest and work hard, but some will follow disasters and try to take advantage of you.

After recent storms and major disasters, a few unscrupulous contractors use a trick to defraud homeowners every year – convincing them to sign away their rights through an Assignment of Benefits (AOB) form.

A contractor or repair company representative will often tell you that an Assignment of Benefits or “AOB” form is necessary for them to do work on your home. They may promise it will make the process easier for you as it will allow them to “handle everything.” They might even offer to lower or eliminate your deductible if you sign the form immediately.

Don’t allow contractors to start work before the damage is assessed by your insurer. Most importantly, don’t sign an AOB form. We are here for you and can help you navigate the claims process and avoid contractor abuse and fraud.

  • Use well know contractors
  • Ask for a written contract
  • Ask to see proof of insurance and licensing from the contractor
  • Make sure your agent and insurance company is involved.
  • Have your claims adjuster inspect all damage?

Five Things People Should Know About Insurance

For many people, insurance can be difficult to understand.  Most people know that insurance is needed, but often they do not fully understand what they are buying or if they are properly covered.  That is why it is important to have an insurance agent on your side.  A good agent will help you determine what your insurance needs are, educate you about your options, and help you understand the specifics of the insurance you are buying.

Here are five things that you need to know as you consider your insurance options.

  • You cannot add coverage for a claim that has already occurred. For example, if there is flooding in your area, you cannot buy flood insurance during an event.
  • Coverage gaps can be costly. Having a gap or lapse in coverage can be costly. Always pay your premiums on time, or ask for a grace period from your insurer.  You will end up paying more if you have lapses in your policy.
  • Insurance is not intended to cover everything. Insurance is designed to provide financial recovery after an accident or unforeseen loss. Every policy has exclusions which are important to understand. Remember, insurance is not intended to cover regular maintenance.
  • An agent can be a valuable resource. A licensed agent can help you find the best possible combination of coverage, price, and service that fits your individual needs. A good agent will be willing to answer any questions you may have and be there for you when a claim occurs.
  • Do not skimp on liability insurance. The cost of litigation these days underscores the need for everyone to have an adequate amount of liability insurance.  The greater your assets are, the greater your need is to have your assets covered.  To protect yourself and your family financially, buy enough liability insurance on your auto and home insurance policies to cover above your net worth.  We can help you determine how much coverage your individual needs require.

In 1989, Oakwood’s founder, Bruce L. Sogn, set out to establish a business that would give him the opportunity to serve the community and to fulfill a need in the marketplace. Today as an independent insurance agency, Oakwood does just that.

After researching the insurance industry, he found that by becoming an independent insurance agent, he could offer a comprehensive range of insurance products and services to his clients. By maintaining focus on competitive products, Oakwood has kept its commitment to service, professionalism, and the highest integrity.

Five Things People Should Know About Insurance

For many people, insurance can be difficult to understand.  Most people know that insurance is needed, but often they do not fully understand what they are buying or if they are properly covered.  That is why it is important to have an insurance agent on your side.  A good agent will help you determine what your insurance needs are, educate you about your options, and help you understand the specifics of the insurance you are buying.

Here are five things that you need to know as you consider your insurance options.

  1. You cannot add coverage for a claim that has already occurred. For example, if there is flooding in your area, you cannot buy flood insurance during an event.
  1. Coverage gaps can be costly. Having a gap or lapse in coverage can be costly. Always pay your premiums on time, or ask for a grace period from your insurer.  You will end up paying more if you have lapses in your policy.
  1. Insurance is not intended to cover everything. Insurance is designed to provide financial recovery after an accident or unforeseen loss. Every policy has exclusions which are important to understand. Remember, insurance is not intended to cover regular maintenance.
  1. An agent can be a valuable resource. A licensed agent can help you find the best possible combination of coverage, price, and service that fits your individual needs. A good agent will be willing to answer any questions you may have and be there for you when a claim occurs.
  1. Do not skimp on liability insurance. The cost of litigation these days underscores the need for everyone to have an adequate amount of liability insurance.  The greater your assets are, the greater your need is to have your assets covered.  To protect yourself and your family financially, buy enough liability insurance on your auto and home insurance policies to cover above your net worth.  We can help you determine how much coverage your individual needs require.

 

How Our Agents Help Save You Money On Your Personal Insurance

Our team of agents works very hard to make sure your premiums are as competitive as possible.  There are many ways in which we help our clients keep insurance costs down.  We also believe that it is equally important to have the right kind of coverage that meets your needs at a competitive price.

Are you paying too much for your personal insurance?  If you believe you are paying too much for your current insurance coverage, then the following suggestions may help you save money:

Auto Insurance Savings Tips

Ask about discounts

Most insurance companies offer discounts.  While the availability of discounts will vary depending on your insurer, where you live, and whether you meet eligibility, make sure to ask if there are any discounts you can take advantage of.

Drive safely

OK, this one is obvious but true.  Drivers with no accidents, tickets, or insurance claims, almost always pay less for their auto insurance coverage.

Good grades

Most insurance companies offer discounts to student drivers who have good grades.

Remove or reduce coverage on older vehicles.

If your car is getting up there in age, you may want to think about dropping the collision or comprehensive coverage (or both) on your policy.

Bundle your services with one agent

Bundling your home and auto with the same agent often provides efficiencies in time and money.

 

Home Insurance Savings Tips

Raise your deductible

A deductible is the amount of money that you are responsible for paying toward an insured loss.  The higher your deductible, the more money you can save on your premium.

Make your home more secure

Invest in a home security system.  Having a smoke detector, burglar alarm or deadbolt locks on your home can earn you a 5% discount, depending on your insurer.

Bundle your insurance

Bundling auto and home insurance with the same company typically saves you 5% to 15% on your homeowners premium, according to data from the Insurance Information Institute. Again depending on your insurer.

Make improvements to your home

Updating your roof, furnace, water heater, or windows can help reduce your insurance cost.  If you’re a homeowner, your premiums could be quietly costing you more money than they should.  The good news is that insurers provide relatively easy-to-obtain discounts that can shave money off your homeowner’s insurance premium.