Why An Personal Umbrella Policy Is Right For You

/in , , , /by

Why An Personal Umbrella Policy Is Right For You

Let’s face it, most of us have limited budgets when it comes to our insurance.  And most people feel insurance is an expensive item. Generally, auto, homeowner’s, RV, and boat insurance policies cover liability for injuries or property damage suffered by a third party. Personal insurance policies are designed to cover accidents for which the insured person may owe tens or even hundreds of thousands of dollars. However, sometimes the person may be responsible for an accident so catastrophic that the damages are $1,000,000 or more.

When You May Need An Umbrella Policy

  • Having rental property
  • Owning a Boat, RV, or ATV
  • Have a high net worth
  • Owning a business
  • Having teen drivers
  • Own a swimming pool, trampoline, or swing-set

In addition, the umbrella may cover things like volunteer activities, statements made online, and certain business activities that a homeowner’s or auto policy might not cover.

Our History

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.

 

The Coronavirus Will Have An Impact The United States

/in , , /by

Coronavirus Will Have An Impact The United States

The Centers for Disease Control recently stated that the Coronavirus will have an impact in the United States.  Currently, the death toll from the Coronavirus is over 2,700 worldwide.

People who contracted the Wuhan virus have reported symptoms that include fever, chills, headaches, difficulty breathing, and a sore throat.  Now is a good time to start thinking about how you might protect yourself and your family from contracting this virus. The World Health Organization and the CDC recommend that you take the usual precautions to help prevent the spread of respiratory viruses including:

  • Wash your hands often with soap and water or use an alcohol-based hand sanitizer.
  • Cover your mouth and nose with your elbow or a tissue when you cough or sneeze.
  • Avoid touching your eyes, nose, and mouth if your hands are not clean.
  • Avoid close contact with anyone who is sick.
  • Clean surfaces you often touch.
  • Stay home from work, school, and public areas if you are sick.
  • Check with your doctor if you have a fever, cough, and difficulty breathing, and tell your doctor about any recent travels.
  • Avoid eating raw or undercooked meat or animal organs.

 Traveling

If you do get sick while traveling, it is important to know the signs of coronavirus and seek immediate medical attention if you believe you have contracted the virus.

Symptoms include fever, cough and shortness of breath. It is important to note, however, that the coronavirus symptoms are common to a number of viruses.

Oakwood operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide our access to a wide range of carriers, and our extensive knowledge of the insurance marketplace.

 

A New Year… Let’s Get Your Insurance Right

/in , , , , , /by

As we move into a new year, I hope that every insurance agent and insurance buyer thinks about how they view their relationships.  Let us get away from the clever insurance advertisement’s attempts to bring our products and services down to the lowest common denominator, price, and commodity.  Insurance products and services are used to build our local economies, we allow people to dream, and we help rebuild in the event of a disaster.

Therefore, here are my resolutions for 2020; I hope other agents and insurance buyers will embrace these as well.

Agents

  • I will always put the needs of my client above mine.
  • I will strive to educate rather than sell.
  • It will be valuable to provide my clients with options.
  • Insurance is a complex transaction, and I need to help my clients understand what they are buying.
  • Risk management should always be part of every conversation. Identify risk, assess the risk, manage the risk, and review again.

Insurance buyers

  • I will select an agent who values relationships.
  • Price is not an indicator of quality.
  • Buying local is like the “farm to table” of insurance.
  • I will seek an agent who is qualified to manage my risks.

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.

Not So Common Insurance Coverage You Need

/in , /by

An Insurance Update

Many people think that all insurance policies are alike and there is no need to understand the different kinds of coverage afforded by different types of policies.  As professional agents, our job is to help our clients understand how the coverage we recommend can affect their risks and actually help them in the event of a loss.

We take the time to educate ourselves on your individual risks, and then design an insurance program to meet your needs.  Here are examples of four insurance coverage options that you should consider.  This coverage can apply to your home or business.

Business Income and Extra Expense (called loss of use on homes)

Business income insurance covers the loss of income that a business suffers after a covered loss, (fire, etc.), while its facility is shut down or in the process of being rebuilt.

Extra expense covers the additional costs, in excess of normal operating expenses, that an organization incurs to continue operations while its property is being repaired or replaced after having been damaged by a covered cause of loss.

For homeowners, the coverage will provide funds for temporary housing while your damaged home is under repair.

Equipment Breakdown (not often available for homes)

Equipment breakdown covers loss due to a mechanical or electrical breakdown of equipment, machinery, including photocopiers and computers.  Coverage applies to the cost to repair or replace the equipment and any other property damaged by the equipment breakdown.

Water/Sewer Backup

Most homeowner’s and business insurance policies do not cover sewer backup unless specific sewer backup coverage is added to the policy, according to the Insurance Information Institute.  A sewer backup can be caused by many factors (not including flood).  Sewer backup can happen from any number of sources:

  • plumbing or appliances
  • severe weather or storms
  • accidents
  • infiltration

Building Ordinance and Law

Building ordinance and law covers losses caused by enforcement of ordinances or laws regulating construction and repair of damaged buildings.  Many communities have building ordinances requiring that a building that has been damaged be rebuilt in accordance with current building codes rather than simply repaired.  This can cause considerable additional expenses to a loss.

Start 2020 With An Insurance Review

/in , , , , , /by

If the last time you had an insurance review was when the Lakers won an NBA Title it is time to have us review your  business and personal insurance. Our team is ready to help you understand how your insurance needs have changed over time.

Here are a few examples of how life changes may impact your insurance.

  • How often do you travel out of the country?
  • Do you have any domestic employees?
  • Have there been any changes in marital status?
  • Are you involved in any nonprofit organizations?
  • Do you own a business and operate from your home?
  • Do you own a second home?
  • Do you drive for Uber?
  • Do you own any unique collections of art, wine, cars, or guns?
  • Are there any children in college?

Your insurance needs to change with your life. We offer a broad range of personal insurance products that are designed to meet your individual needs. We can help you find an insurance        product that suits your individual needs. Don’t wait for another second to ensure your home is adequately insured. Call us today for more info on your options for personal insurance coverage.

Oakwood operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide.

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.

 

How To Protect Your Identity During The 2019 Holiday Season

/in , , , /by

 

Black Friday and Cyber Monday coming, and holiday spending will continue right up to December 24th. According to the Nation Retail Federation, 84% of Americans will use the internet to shop during the holidays. Even during non-holiday times, people are using noncash transactions for the purchases of goods and services.

  • Consider identity theft insurance.
  • When shopping, only take the credit cards you need.
  • Review your bank statements to make sure all transactions are correct.
  • When online shopping, only use sites you have used before or those that are reputable.
  • Make sure your antivirus and anti-spyware software is up to date.
  • Don’t open emails from people you don’t know, even if your name is in the reference line.
  • Don’t shop on unprotected wireless networks. Enjoy your coffee at the coffee shop, but do your shopping at home.
  • Use complex passwords and change them regularly.
  • Keep your Social Security Card and number locked up.
  • Keep your laptop or tablet locked in the trunk.
  • Keep receipts in your purse or wallet, not in the bag.

Identity Theft insurance

Identity Theft Protection assists with the costs of restoring and repairing a consumer’s identity and credit history. Call our office for a quote.

Oakwood operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide our access.

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.

Do You Need A Scheduled Article Floater?

/in , , , /by

Do You Need A Scheduled Article Floater?

Almost all of your personal property is insured under your homeowner’s policy; however, most valuables have sublimit that leave might you severely underinsured. We are talking about; jewelry, guns, cameras, silverware, chins, sporting equipment, art, coin collections, wine, and other expensive items. The best way to protect your valuables is through a scheduled articles floater.

A scheduled articles floater is either a separate policy or a rider added to your homeowner’s policy, depending on your carrier. A scheduled articles floater itemizes valuable items on your homeowner’s policy and extends the policy’s coverage to the items.

Why You Need The Coverage?

Typically, your homeowner’s policy will cover your valuable items anywhere from $500 to $2500 and may include a deductible without any schedule; depending on the insurer. With a scheduled articles floater you can obtain coverage up to the replacement value of the item. Insurers will ask for a bill of sale or appraisal to verify the replacement value.

The primary reason why you should choose to purchase a scheduled articles floater is that it offers additional coverage not provided in your “normal” coverage. Accidental loss or damage is a           coverage included under the personal articles floater. A missing stone in an engagement dropped down the drain or lost at the beach, would be typically be covered under a personal articles floater.

Oakwood operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide our access to a wide range of carriers, and our extensive knowledge of the insurance marketplace.

 

Is a Home Remodel Project in Your Future?

/in , /by

 

You may be looking for ways to improve your home in the near future.  Perhaps you want to upgrade your heating system,      replace a leaky roof, or add on that sunroom you have always wanted.  Before you get started however, you will want to know how that remodeling project can affect your insurance needs.

Whether you are updating your kitchen or adding on another room, a remodeling project will likely add value to your home.  As a result, you will want to check the property coverage limits on your homeowner’s policy to make sure that they reflect any changes you make to your home, no matter how small or large the improvements may be.  If you hire someone to do the remodeling, you will want to make sure that he or she is properly insured.

Require Your Contractor to Have Insurance

Workers’ compensation coverage protects you from liability claims that can result from a contractor (or his or her employees) getting hurt on the job.  Contractor’s liability insurance provides coverage for damage to your property caused by the contractor during remodeling.

If you hire a general contractor who is planning to hand off some of the work to a subcontractor (or if you plan to act as a general contractor yourself), you will also want to get a copy of the                  subcontractor’s proof of insurance.

Before jumping into a home improvement project, make sure that you are prepared in case an            accident occurs.  If someone helping you on a remodeling project is hurt, his or her injuries could be covered under the liability portion of your homeowner’s policy.

Oakwood operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide our access to a wide range of carriers, and our extensive knowledge of the insurance marketplace.

 

/in , /by

Summer Travel Safety and Insurance Tips

Stay Safe and Protected This Summer

Summer is filled with many activities that bring your family together.  However, nothing can turn a summer outing into a disaster faster than an accident or having your home burglarized while you are away.  Your personal insurance can provide coverage for accidents that occur while you are on vacation, but there are limitations.  We can make sure you have the best possible combination of coverage, price, and services for your personal insurance needs.

Your personal insurance program should include some, or all, of the following kinds of competitively priced insurance products.  There are many benefits to buying all your personal insurance through one agency, including having one source for all your needs, bundling your home and auto for better discounts, and the ease of just calling one person for all your personal insurance needs.  We are able to handle all your personal, business, and health insurance needs.

  • Home or renter’s insurance
  • Auto Insurance
  • Personal umbrella coverage
  • RV Insurance
  • Watercraft insurance
  • Travel Insurance
  • Health Insurance
  • Identity theft protection

Summer is an excellent time for burglars to make a living.  Nonetheless, you can help reduce the likelihood of having a burglary.  Here are a few facts that you should know:

  1. Burglars tend to avoid homes with security systems.
  2. There are over 2.5 million home burglaries each year.
  3. Households without a security system are 300% more likely to be burglarized.
  4. Most burglaries occur between 11:00 a.m. and 3:00 p.m.
  5. Home burglaries take less than 10 minutes.
  6. Sixty percent of burglars live within 10 miles of their targets.
  7. Twenty three percent of people store valuables in their underwear drawer.
  8. Forty percent of burglars enter through an unlocked door.

Source: Safewaise.com

Here are some of the ways to protect your home while you are on vacation:

  • Install a home security system.
  • Always keep your doors locked.
  • When away, never post your location on social media.
  • While on vacation, stop your paper and garbage services.
  • Tell your neighbors where you are traveling, and when you plan on returning.
  • Keep shrubbery trimmed around entrances, windows, and walkways.
  • Store grills and other items inside while gone.
  • Increase your outdoor lighting.
  • Keep blinds closed and inside lights on.
  • Have someone mow your lawn.
  • Ask a neighbor to park their vehicle in your driveway.
  • Do not keep any spare keys outside.

Here are a few tips to keep you safe while traveling:

  • Give a family member your travel schedule.
  • Take only the credit cards you need.
  • Advise your bank of your travel plans.
  • Don’t pack expensive jewelry.
  • Never show a large amount of cash.
  • Make copies of all of your credit cards, identification information, and medical insurance cards.
  • Wear sunglass if you are going to a sunny place.
  • Make sure you pack your medications.
  • Do not spotlight yourself as a tourist; most thieves find tourists are vulnerable targets.
  • Don’t take expensive luggage.
  • Travel with an anti-bacterial gel.
  • Make sure your hotel has a safe, and use it to store valuables and cash.
  • Drink bottled water.
  • Know your physical limitations.
  • Keep your hotel door locked at all times.
  • Go digital by scanning your travel documents.

Have you considered special insurance for your travel and summer needs?

Summer travel can increase your need for travel and other kinds of special insurance.  We wanted to provide some basic information about these kinds of insurance.  Please call our office for more information.

Travel Insurance

Travel insurance offers added coverage that can protect your family while on vacation.  Health insurance often does not provide coverage outside the United States.  Travel insurance can also provide other benefits such as:

  • Trip cancelation coverage.
  • Travel coverage to a medical facility.
  • Lost baggage.
  • Emergency medical and dental expenses.
  • Accidental death and dismemberment.

Travel insurance varies from insurer to insurer, and can be designed to meet your individual travel needs.  Here are a few examples of travel insurance claims:

  1. You booked a tour through a tour company and they went out of business. Purchasing trip cancellation/interruption coverage can help protect you from losing your investment due to such an occurrence.
  2. Your spouse gets ill while in a foreign country. Illness coverage is also included under travel insurance policies if you need to cancel your remaining travel plans.  It is important to remember that even if you are fit to travel, you may get sick or have an injury while traveling.
  3. You are in a remote location and have an illness or injury. Plans can include medical evacuation if needed.

How to Buy Travel Insurance?

The best way to buy travel insurance is through an independent agency like ours. We can help design a competitive travel insurance program that is suited best for your needs. We have access to a number of markets that will allow us to provide you with the best combination of coverage, price, and service.

 

 

 

 

 

Hit The Road With Better RV insurance

/in , , , /by

Hit The Road With Better RV insurance

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 coach or fifth wheel you explore with.

Comprehensive RV insurance needs to also 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. 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.

Oakwood operates as an independent insurance agency, selling an extensive spectrum of insurance to businesses, families, and individuals.  Our competitive advantage comes from the objective and professional service that we provide our access to a wide range of carriers, and our extensive knowledge of the insurance marketplace.

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.