Does Commercial Insurance Protect Me or My Customers?

Posted on by agentinsure

Many business owners assume commercial insurance exists primarily to protect the company itself. In reality, the answer is a bit more nuanced. In many situations, commercial insurance protects both your business and the people you serve.

When you carry appropriate commercial insurance coverage through Freeland Insurance, serving Oklahoma City, OK, you’re creating a layer of protection that can respond when unexpected events occur. At the same time, certain policies are specifically designed to address claims made by customers, clients, vendors, or members of the public who may be affected by your commercial business operations.

How Protection Extends Beyond Your Business

A useful example here would be a customer who slips and falls on your premises. If the customer alleges that your business was responsible for the injury, commercial liability coverage may help address the claim. In that situation, the policy is protecting your business from a potentially disruptive lawsuit while also providing a mechanism for addressing the customer’s losses.

This dual purpose is one of the more interesting aspects of commercial insurance. Many policies are structured to protect your financial interests, but they do so by responding to claims brought by other people.

Commercial insurance requirements in Oklahoma vary depending on industry, operations, and workforce size. Workers’ compensation requirements, for instance, apply to many employers throughout the state. Certain contracts, licenses, or commercial leases may also require specific forms of coverage before business activities can proceed.

Looking at the Bigger Picture

To illustrate this more concretely, imagine that one of your employees accidentally causes property damage while performing work for a customer. A commercial policy may respond to the customer’s claim, helping resolve the situation more effectively while also protecting your company’s ongoing operations.

Ultimately, commercial insurance through Freeland Insurance, serving Oklahoma City, OK, is designed to protect your business, but it often accomplishes that goal by providing important protections for customers and others who interact with your company.

Updating Your Home Insurance Coverage: How Rising Costs Impact Your Need for Coverage

Posted on by agentinsure

As a property owner, you know that the cost of everything is much higher now than it was a few years ago. Inflation happens most of the time, and many times, your insurance policy can keep up. However, in a catastrophic incident, it may not if you haven’t updated it in some time.

At Freeland Insurance, we can help you determine if you have enough (or even too much) insurance for your home. If you are looking for updates to your home insurance in Oklahoma City, OK, give us a call.

Consider a Worst-Case Scenario

Updating your coverage is wise in many situations. Most importantly, you should know what the worst-case scenario is. A good example is fire. A fire, along with the smoke and water damage that goes with it, can cause significant damage to your home. It may need to be significantly repaired or even rebuilt.   

In this situation, you can seek a claim for the cost of those repairs, if your policy covers the cause of the fire. But, if your damages are higher than the amount of coverage you have, you lose the opportunity to rebuild without cost.

The cost of materials and labor continue to rise. That makes it necessary to consider what would happen in your situation. Depending on the addition of assets to your home, expensive equipment or electronics, or specialized features, upgrades to your policy are often a good thing.

Speak to an Agent About Your Needs

As you consider what your needs are, turn to Freeland Insurance. Contact us for a quote on home insurance in Oklahoma City, OK, that fits your specific home needs. We are here to help you even as costs rise and risks continue to linger.

Updating Your Home Insurance Coverage: How Rising Costs Impact Your Need for Coverage

Posted on by agentinsure

As a property owner, you know that the cost of everything is much higher now than it was a few years ago. Inflation happens most of the time, and many times, your insurance policy can keep up. However, in a catastrophic incident, it may not if you haven’t updated it in some time.

At Freeland Insurance, we can help you determine if you have enough (or even too much) insurance for your home. If you are looking for updates to your home insurance in Oklahoma City, OK, give us a call.

Consider a Worst-Case Scenario

Updating your coverage is wise in many situations. Most importantly, you should know what the worst-case scenario is. A good example is fire. A fire, along with the smoke and water damage that goes with it, can cause significant damage to your home. It may need to be significantly repaired or even rebuilt.   

In this situation, you can seek a claim for the cost of those repairs, if your policy covers the cause of the fire. But, if your damages are higher than the amount of coverage you have, you lose the opportunity to rebuild without cost.

The cost of materials and labor continue to rise. That makes it necessary to consider what would happen in your situation. Depending on the addition of assets to your home, expensive equipment or electronics, or specialized features, upgrades to your policy are often a good thing.

Speak to an Agent About Your Needs

As you consider what your needs are, turn to Freeland Insurance. Contact us for a quote on home insurance in Oklahoma City, OK, that fits your specific home needs. We are here to help you even as costs rise and risks continue to linger.

Financial Services Insurance: What is and isn’t Covered

Posted on by agentinsure

Every single industry has unique insurance needs, and the financial services industry is no exception. Oklahoma City, OK financial companies will find that financial services insurance can cover a range of perils, but what is and isn’t covered often depends on the policy you pick. 

What can Financial Services Insurance Cover?

Financial services insurance can cover errors and omissions insurance and directors and officers insurance in a single package. This coverage protects your business from lawsuits related to alleged employee mistakes, including claims related to loss from following your company’s advice or recommendations. It also protects your directors’ and officers’ personal assets in the event of a dispute, claim, or lawsuit. 

Cyberinsurance can also be included. It’s an integral form of protection since cyberattacks on the financial services industry are up a whopping 27% since 2024. Cyberinsurance covers the cost of paying a ransom, repairing your IT system after a breach, taking measures to protect against future breaches, informing customers, paying fines/judgments, and covering legal costs. What’s more, the cyberinsurance coverage included in a financial services insurance package can include coverage for business email compromise and wire-transfer fraud.

Call Freeland Insurance to Find Out More About Your Options

Financial services insurance doesn’t provide all the coverage your business needs. However, it does offer great value, covering a range of common perils that could derail your business or even permanently close it. Our team at Freeland Insurance takes pride in helping Oklahoma City, OK, financial service business owners find suitable insurance policy options, and we’re always happy to answer questions, give price quotes, and offer personalized advice so you can make informed decisions about your coverage options.  

Financial Services Insurance: What is and isn’t Covered

Posted on by agentinsure

Every single industry has unique insurance needs, and the financial services industry is no exception. Oklahoma City, OK financial companies will find that financial services insurance can cover a range of perils, but what is and isn’t covered often depends on the policy you pick. 

What can Financial Services Insurance Cover?

Financial services insurance can cover errors and omissions insurance and directors and officers insurance in a single package. This coverage protects your business from lawsuits related to alleged employee mistakes, including claims related to loss from following your company’s advice or recommendations. It also protects your directors’ and officers’ personal assets in the event of a dispute, claim, or lawsuit. 

Cyberinsurance can also be included. It’s an integral form of protection since cyberattacks on the financial services industry are up a whopping 27% since 2024. Cyberinsurance covers the cost of paying a ransom, repairing your IT system after a breach, taking measures to protect against future breaches, informing customers, paying fines/judgments, and covering legal costs. What’s more, the cyberinsurance coverage included in a financial services insurance package can include coverage for business email compromise and wire-transfer fraud.

Call Freeland Insurance to Find Out More About Your Options

Financial services insurance doesn’t provide all the coverage your business needs. However, it does offer great value, covering a range of common perils that could derail your business or even permanently close it. Our team at Freeland Insurance takes pride in helping Oklahoma City, OK, financial service business owners find suitable insurance policy options, and we’re always happy to answer questions, give price quotes, and offer personalized advice so you can make informed decisions about your coverage options.  

What’s the Difference Between Personal and Commercial Umbrella Insurance?

Posted on by agentinsure

Umbrella insurance is meant to be paired with another insurance policy to increase the liability limits of that policy. It’s also designed to increase coverage options to provide additional protection for individuals and business owners. 

How to Choose the Right Type of Umbrella Insurance

There are both commercial and personal umbrella insurance policies, and the coverage you pick will depend on what situations you want covered.

Personal umbrella insurance increases liability limits on your home insurance policy. It can also cover many aspects of international travel, provided the travel is for personal rather than commercial purposes. Wealthy homeowners who want to protect their assets in the event of a lawsuit would do well to purchase this type of coverage. Many policies cover not only the policyholder but also a spouse and children.

Commercial umbrella insurance policies increase the liability limits of a commercial policy, providing additional compensation if you face a costly lawsuit or judgment. This type of insurance can be ideal for professionals and business owners who work in industries with a high incidence of lawsuits, but just about any company can benefit from umbrella coverage. However, you’ll want to read your policy options carefully as umbrella insurance doesn’t cover all business activities. Professional liability claims, for instance, are typically not covered. Claims related to a cyberattack are also not covered unless you buy a specialized cyber umbrella insurance policy.

Contact Freeland Insurance in Oklahoma City, OK, for More Information

Freeland Insurance serves clients in and around Oklahoma City, OK. We offer multiple personal and commercial umbrella insurance policies from various carriers. Call us to find out more about umbrella coverage; we’d be happy to help you review your options and pick the policy that works best for you.

Will Flood Insurance Cover Water from a Washing Machine?

Posted on by agentinsure

Every basement or garage in Oklahoma City contains valuable appliances. From washing machines and dryers to freezers and more, basements house essential appliances that often cost hundreds or even thousands of dollars. As a homeowner, you can protect these valuable items with the right insurance. Freeland Insurance is here to help.

Flood Insurance for Basement Appliances

If your basement floods, water might reach your washing machine. Even if the washing machine is elevated a few inches off the ground, water can accumulate to a level that compromises its mechanical integrity.

In such cases, does flood insurance apply? Typically, water damage is covered by standard home insurance if it results from an unexpected, accidental, and sudden incident.

However, home insurance is not the same as flood insurance. If water reaches your washing machine due to a storm surge, heavy rain, or river overflow, you’ll need flood insurance to cover the cost of repairing or replacing the appliance.

What Flood Insurance Covers

Standard flood insurance policies cover the building itself and its contents. This includes appliances such as washing machines, dryers, portable air conditioners, freezers, and refrigerators.

However, it’s important to review the fine print of your flood insurance policy. Many policies exclude damage caused by moisture, mildew, or mold. Additionally, the loss of use of certain items may not be covered.

Freeland Insurance Center in Oklahoma City

For insurance solutions in Oklahoma City, OK, Freeland Insurance Center provides the coverage and peace of mind you need. If you’re considering flood insurance, call us at 405-692-6106 for a quote.

Can You Switch Health Insurance Companies?

Posted on by agentinsure

Yes, you can technically switch health insurance companies, but it’s not always as simple as deciding you want something different and making the change the next day. The ability to switch depends largely on timing and what’s happening in your life at that moment, so you should get with your insurance agent at Freeland Insurance, serving Oklahoma City, OK for details.

When Switching Is Allowed

Most people can only switch health insurance companies during specific enrollment windows. The most common is open enrollment, which happens once a year. Outside of that period, a switch is usually allowed only if you experience a qualifying life event. That could include getting married, moving to a new area, having a child, or losing existing coverage. Without one of these events, changes are often limited until the next enrollment window opens.

How Employer Coverage Fits In

If your health insurance comes through an employer, the rules are usually tied to the company’s benefits calendar. Many employers allow changes once a year during their own enrollment period. Certain life events may also allow adjustments mid-year, but those changes generally need to be made within a short timeframe.

Things People Often Overlook

Switching health insurance companies isn’t just about picking a new name. Provider networks can change, which affects whether current doctors and specialists are still in-network. Prescription coverage can also differ.

Timing and Coverage Gaps

One of the biggest concerns when switching is making sure coverage lines up correctly. Overlapping dates or short gaps can cause confusion later, especially if care is needed during the transition.

Switching health insurance companies is possible, but it works best when it’s planned carefully. Contact Freeland Insurance, serving Oklahoma City, OK, for assistance with your individual circumstances, to avoid any potential complications with your choice to change your health insurance.

How Does Term Life Insurance Differ From Whole Life Insurance?

Posted on by agentinsure

When you purchase life insurance, you have to make a choice. Two of the most popular types of life insurance are term and whole life insurance. These two types of policies are very different.

Understanding the differences between these two types of policies can help you decide which one is right for you. The insurance professionals at Freeland Insurance, servicing Oklahoma City, OK, can help you decide what type of insurance to buy. Here’s what to know. 

What Is Term Life Insurance?

Term life insurance is a type of insurance that lasts for a designated period. If you die while the policy is active, your beneficiaries will receive the death benefit. Sometimes, term life insurance can be extended beyond the initial term. Usually, the premium remains the same throughout the term. 

What Is Whole Life Insurance?

Whole life insurance is a type of life insurance that lasts your entire life, as long as you continue to pay the premium. Typically, the premium for whole life insurance remains at the same rate. When you die, your beneficiaries are provided a death benefit as long as you have continued to pay the premium. 

Which Type of Life Insurance Is Right For You?

Trying to decide which type of life insurance is right for you can be a challenge. Your insurance agent can help you make this decision. Contact an insurance agent from Freeland Insurance, servicing Oklahoma City, OK to learn more about the different types of life insurance and the details of each policy. We work with more than one insurance carrier, which makes it easier to find the right policy for your needs. Call today.

Advantages of Commercial Insurance for Entrepreneurs in Oklahoma City

Posted on by agentinsure

Running a business in Oklahoma City, OK, is a path to financial freedom. Whether you’re managing a retail store, warehouse, or office space, understanding the importance of commercial insurance is invaluable. At Freeland Insurance, we work closely with our clients to protect the foundation, reputation, and long-term growth of businesses across the state.

Advantages of Commercial Insurance

One of the most notable advantages of commercial insurance for business owners across Oklahoma is the ability to protect against unforeseen financial losses. Commercial property insurance covers damages from fire, theft, storms, and even vandalism (which is not covered with most traditional property insurance policies). Additionally, liability insurance safeguards business owners from product-related claims, customer injuries, or even direct lawsuits, regardless of the line of work you’re in or the type of business you represent. 

Build Credibility and Trust

Obtaining proper commercial insurance is a way to build credibility and trust among clients and customers. Promoting that you are licensed and insured is a way to demonstrate responsibility and professionalism. For industries such as hospitality, retail, and even construction in OK, this is key.

Workers’ Compensation

Obtaining workers’ compensation insurance is a way to protect yourself as a business owner, along with your employees. This can boost workplace morale and fulfill state requirements simultaneously. Business interruption and cyber liability insurance can help you remain resilient whenever a potentially unexpected disruption occurs, from cyberattacks to personal attacks on your business software.

If you’re just getting started with a new business, or you’re reevaluating existing policies, Freeland Insurance is here for you. For those located in Oklahoma City, OK, we’re here for you. To learn more about the advantages of commercial insurance for entrepreneurs and how our evaluation can help you, contact us for more information.