Home Insurance

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.

Rising Rebuild Costs in Oklahoma City: Why Your Home Insurance May Fall Short

Posted on by agentinsure

Let’s be honest, a home insurance policy that made perfect sense five years ago might leave you completely exposed today.

The reality is that Oklahoma City homeowners are facing a challenging situation. The cost to rebuild, not just repair, a home after a total loss has surged due to inflation, material shortages, and rising labor costs. Here’s the catch: if your home insurance isn’t keeping up, you’re on the hook for the difference.

Construction Costs Are Climbing Fast

Everything is getting more expensive: lumber, concrete, and skilled trades. Across the board, prices have skyrocketed over the last five years. Rebuilding a 2,000-square-foot home in Oklahoma City now costs significantly more than it did just a few years ago, yet your policy may still reflect outdated replacement values.

Why does this matter? Most home insurance policies in Oklahoma City, OK, are based on a home’s estimated rebuild value, not its market price. If your coverage hasn’t been updated, a fire, tornado, or severe storm could leave you with a partial payout and a financial gap you didn’t plan for.

Standard Coverage Isn’t Always Enough

Even if you think you have “full coverage,” you might still fall short. Here’s why: basic policies typically cap replacement costs at the original estimate, but your home is likely worth much more now.

It’s simple math. Let’s say your home needs to be rebuilt from the ground up. That includes everything: permits, labor, debris removal, and compliance with updated zoning or building codes. All of these costs have increased. If your coverage isn’t designed to grow with those expenses, you could be left with a significant financial burden.

How to Protect Yourself Before It’s Too Late

The solution starts with a conversation. At Freeland Insurance, we help Oklahoma City homeowners review their current policies and assess real-time rebuild values, not just ballpark figures.

We also walk you through optional add-ons, like extended replacement cost or ordinance coverage, which can protect you from ever-increasing construction costs.

Not sure if your coverage still fits your home? Let’s take a look together. Contact Freeland Insurance in Oklahoma City, OK, today. No pressure, just answers.

How to Schedule Coverage for Beloved Possessions

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At Freeland Insurance, we want our Oklahoma City, OK clients to benefit fully from their home insurance policies. A home policy does more than protect you from financial loss if your home’s structure gets damaged. It also provides liability coverage and protects your personal property. Typical home policies include $1,000 to $2,000 of personal property coverage, but you can increase this by scheduling expensive items.

Understanding Personal Property Coverage

A home policy includes some personal property coverage, but the $1,000 to $2,000 limit may not cover as much as you think. Consider the cost of replacing all your clothing, shoes, computer, cell phone, and television. These items alone could often exhaust the personal property coverage limit. Scheduling coverage allows you to list the items that matter most and would cost the most to replace.

How Scheduling Works

Your home insurance can cover expensive personal property by listing each piece as scheduled coverage. Commonly scheduled items include smartphones, engagement rings, and hobby equipment like guitars or cameras. Scheduling an item insures it at its full value, so if you file a claim, you’ll receive the full purchase price.

Scheduling an item in an insurance policy is similar to scheduling an appointment in your planner. In the policy documents, the item and its value appear as a line item, just like an appointment would in a datebook. While scheduling an item slightly increases the policy’s premium, it covers the item against damage or loss, including theft.

Contact Freeland Insurance Today

Don’t leave your valuable personal possessions unprotected in your Oklahoma City, OK, home. Call us today to update your home policy and schedule coverage for your expensive belongings.

Homeowners Insurance and Wind Damage

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If you have lived in the Oklahoma City, OK, area for any period, you’ve likely experienced our intense spring and summer storms. Accompanied by lightning, heavy rain, and high winds, these storms are a common occurrence.

At Freelander Insurance, we assist our clients in managing the risks of these storms, including any losses that may occur during a tornado.

Which specific events does the wind portion of your homeowner’s policy cover?

When considering the consequences of high wind damage, most people first think of roof damage. However, high winds can also damage other aspects of a home, such as siding (wood, vinyl, and aluminum), doors, windows, and more.

High winds can also cause trees to fall, potentially causing damage, knocking down fences, damaging outbuildings, or causing damage from flying debris. If unsecured flying debris leads to an injury to someone, the liability portion of your homeowner’s insurance policy can be invaluable. For more information, please check your policy. 

Excluding your homeowner’s insurance deductible, each situation is likely covered under your primary homeowners’ insurance policy.

A note on flood insurance.

While your home insurance policy likely covers wind damage, you must be aware that it probably does not include associated flood damage. Flood insurance, a separate coverage, is managed through the Federal Government’s Flood Insurance Program. As more homes become susceptible to flooding, it’s an option that deserves consideration.

Contact us for a quote today.

For those living in the Oklahoma City, OK, area, we at Freeland Insurance encourage you to contact us. We can review your policy and ascertain your coverage and limits. If you wish, we can also provide a quote for new coverage.

Why do Oklahoma residents and property owners need home insurance?

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All people in the Oklahoma City area should consider purchasing their own home. If you buy a property in this region, you will want to know that you also have the proper insurance for it. There are multiple reasons why a typical property owner in this area must have a home insurance plan at all times for their property. 

Protect Dwelling 

An important reason to have a home insurance plan is to protect your dwelling. If you are going to buy a home, you will want to know that it is covered in the event of a fire, bad storm, or other covered claim. With home insurance, you will have support in these situations. The insurance plan will also support your personal items within your policy limits. 

Comply with Requirements

Getting home insurance would also be a good idea as it will ensure you can comply with your requirements. Many people that own a home in Oklahoma City will take out a mortgage, and others will live in a home association. In either situation, you will be required to carry insurance for your home. If you carry a full insurance plan, it will ensure you are in good standing with such obligations. 

If you decide to buy a home when you are in the Oklahoma City, OK area, you will want to know that you have the right home insurance in place. As you are evaluating your options, calling our office would be a great idea. Our insurance team at Freeland Insurance can offer any support you need to build a proper plan and stay covered at all times. 

What new homeowners need to know about home insurance coverage

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Buying your first home can be terrifying. It is a significant investment, and you may have no idea of all the things homeownership entails. Including, of course, how to choose the right home insurance and what you are paying for. In Oklahoma City, OK, Freeland Insurance is here to help you every step, from picking your first policy to filing your first claim. 

Dogs are a liability.

You love your dog, but dogs are a liability. Depending on the breed, they may even be excluded from your coverage. Be sure to mention any dog you may have when getting your home insurance. 

Home insurance has exclusions.

Home insurance covers many things and offers lots of protection, but there are exclusions which are things your policy won’t cover. Some of the things that are excluded include:

  • Owner neglect
  • Earth movement
  • Floods
  • Sewer backup
  • Nuclear accident
  • War
  • Mold
  • Dangerous dogs
  • Termites

You can choose how to cover your contents

When it comes to covering your content, you have options. You can choose to cover your personal property for its value today, which allows for depreciation, or you can cover the cost of replacing it today. It is less expensive to go with today’s value. 

Some types of content coverage have limits.

When looking at your policy, you may notice that things like jewelry, art, and antiques have limits. They are usually relatively low, so if you want them to be protected, you should have an appraisal and get a rider to increase the limit on that category. If you have expensive items, you need additional coverage. 

Contact Freeland Insurance in Oklahoma City, OK to get the choices only an independent insurance agency can offer. We offer free no-obligation quotes. 

Why is location an essential consideration when buying a home?

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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.

Factors to Consider When Shopping For Home Insurance

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Your home is one of the most valuable assets you own that’s an investment and also a shelter for you and your family. While there’s little you can do to prevent certain disasters, especially natural disasters, from destroying/damaging your home, you can have home insurance with Freeland Insurance to help you recover fast in case of a disaster. However, simply choosing a policy doesn’t mean your home is completely secured. It important to consider if the policy you are buying will completely secure your Oklahoma City, OK home, otherwise, you may lose when certain unknown risks crop up. Some of the factors to keep in mind when shopping for home insurance include:

Contents of Your Home

Do an inventory and correctly estimate the value of your home contents to help you determine how much coverage you want for them. Ensure that you have full coverage for high-value items such as high-end electronics, fine art, special pieces of jewelry, sports equipment, etc.

Additional Endorsements

Find out what additional coverage options your insurance provider offers to fill in all the gaps in coverage and dive into maximum protection. For instance, personal property replacement cost, jewelry, earthquake, flood endorsements, and much more.

Terms and Conditions

Go through the policy document, especially the terms and conditions you’ve agreed to and ensure any existing errors, including spelling mistakes, are rectified as soon as possible. Never assume that it only contains the inclusions and exclusions communicated to you by the agent

Compare Insurance before Purchasing

Home insurance isn’t a one-size-fits-all policy. Different insurance providers offer different coverage options as well as different terms and conditions. Therefore, consider shopping around and comparing insurance policies before settling for one.

At Freeland Insurance, we provide affordable and reliable home insurance policies to the residents of Oklahoma City, OK and its environs. Our agents will help you determine what coverage options you need to secure your home completely. For more information, contact us today.

Home insurance surprises

Posted on by agentinsure
Freeland Insurance serving Oklahoma City, OK  works hard to make sure that you have all your insurance needs.  But you need to make sure with your insurance agent that everything you need is covered.

Things your homeowner’s insurance might not cover

It’s always best to ask your insurance agent what you might need.

Sewer backup: If a sewer backs up into a home, it can do some serious damage to floors, walls, furniture and electrical systems — and it’s typically not covered by a standard policy.

Floods: Frankly, flood insurance is a different insurance.   Make sure, if this is an issue, that you include it in your policy.

Sinkholes: Most home insurance policies will not cover damage associated with ‘earth movement,’ such as an earthquake or sinkhole.

Mold: Depending on your insurance this may or may not be covered.  Sometimes, it’s pricey, but depending on where you live this is something you might want to add. With a leak or flooding, get rid of the water asap, so mold doesn’t grow.

Construction work damage: If you are renovating your home it probably isn’t covered by your policy, a rider might be added.   If you have a contractor, it would fall under their liability insurance.   Make sure they are covered.

Jewelry, antiques, and fine art: Most standard policies have limits for other expensive collectibles. The best way to protect these items is to get a separate insurance rider that specifies exactly what these items are.

Earthquakes: Earthquake damage is not included in standard policies.

Stolen/destroyed cash: It’s difficult to convince the insurance company that you had thousands of dollars stashed away in your home when it was destroyed. So keep it in a safe place or keep minimal cash on hand.