Posts by: Krush Digital

With a new year comes a time for reflection and a time to look to the future. This should
hold true with your insurance coverage. While your insurance policy for your home or
apartment should provide a sense of security; the new year is a great opportunity to make
sure that your sense of security is well founded.

According to a survey by the National Association of Insurance Commissioners (NAIC),
more than half of Americans don’t have a list of their possessions. Without an accurate
inventory, you may not have the right home or rental insurance coverage. The things you
own change constantly – new TV here, new bedroom furniture there – so you need to
update your home inventory every year. Without an accurate inventory, you may forget
to claim items lost in a fire, tornado or other covered peril.

There are many ways to create a home inventory. You can create a paper copy and write
things down room-by-room. We’ve created this file to help you do it. Additionally, you
can use a free home inventory app to capture images, descriptions, bar codes and serial
numbers of your possessions. Be sure to share the inventory with your agent or insurer.
Periodically update the list as you acquire new things.

Do you understand your policy?

A standard homeowner or rental insurance policy contains four parts:

• declarations page
• the insuring agreement
• exclusions section
• general conditions

A standard homeowners or renters policy generally provides coverage for either the
actual cash value or replacement value of your property. After a loss, you will always
have to pay your deductible as outlined in your policy.

It took a while for winter weather to get to Oklahoma. And while this season can make
for some postcard-type scenery, it can also present some hazards. That’s why it’s
important to know what your insurance will cover this winter season.

At Your Home

Winter storms in Oklahoma have been known to cause major destruction. Some
homeowners policies will cover damage caused by wind, wind-driven rain, trees or other
falling objects, and the collapse of a structure due to weight of ice or snow. Damage done
by frozen pipes can also be covered provided you took proper measures to prevent the
pipes from freezing. For example, many policies state that coverage applies if you can
show that you kept your home heated to a reasonable temperature, insulated exposed
pipes or ran your faucets at a trickle. Call your insurance agent or company for
clarification with specific questions.

Snow Removal

A homeowners or renters policy could cover liability for injuries if someone other than a
family member slips and falls on your property. However, your insurance company
expects you to limit the dangers around your home. This means clearing snow and ice
from walkways and sidewalks in a reasonable amount of time after a winter storm.

Your city’s snow-removal laws may also play a part in what the insurance company
requires as due diligence. Check the ordinances in your area to see what rules apply.

Behind the Wheel

Driving in Oklahoma’s winter weather can be downright dangerous. If you are in an auto
accident and found to be at fault, your liability insurance will cover the damages caused
to another person’s property. However, damage to your vehicle in an accident where you
were found at fault would be covered under the collision portion of your policy. The
optional comprehensive coverage would cover the physical damage to a car caused by
heavy winds, fallen ice or tree limbs. Make sure you have adequate coverage.

Winter Activities

If you’re ready to jump on a lift to take your skis down your favorite slope, check your
homeowners or renters policy, as well as your health insurance, to ensure you know what
to do in case of an accident or a loss.

Generally, equipment you own will be covered, up to a specific amount by your
homeowners or renters policy, if the damage is due to a covered cause loss. Check the
limit in your policy and decide if that will be enough to replace damaged or stolen
equipment. Remember to factor in your deductible. If you think you need more coverage,
talk to your insurance agent.

If you are skiing or snowboarding and you have an accident, an air ambulance ride could
be very costly. Many insurers will pay what they deem reasonable use of an air
ambulance; however, sometimes the air ambulance company and the insurer disagree on
the cost leaving you responsible for the remainder of the bill. Find out if your health
insurance has air ambulance coverage, and find out which air ambulance companies are
in network with your insurance carrier.

If you are out of town without access to your doctor or local health care center, review
your emergency medical treatment requirements:

• Are you required to seek medical treatment at a certain hospital or urgent care
  center that is in your network?
• Will you have a copay?
• If you need to fill a prescription, do you have to go to a certain pharmacy?

Make a list of these details and carry your insurance card when you travel.

More information

Many winter activities come with increased risk. Speaking with your agent or insurer is a
good way to understand your coverage. If you have additional questions about your
insurance needs for winter, contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.ok.gov.

September is National Preparedness Month. It’s the perfect time to prepare yourself and
your family for Oklahoma’s unpredictable winter and spring. Preparing for all types of
emergencies now will help you handle the unpredictable when it does strike. Here are
few things you can do as part of National Preparedness Month.

Create an Emergency Plan

Your family may not be together if a disaster strikes, so it is important to make a plan for
several scenarios. For example, your plan will be different for a tornado, a snow storm or
a wildfire, and it will depend on where your family members are at the time the disaster
strikes. Are your children in school? Will you be at work? To get a step-by-step guide for
writing your family plan, visit ready.gov.

Organize a Home Inventory

To make filing an insurance claim easier after a disaster, the best course of action right
now is to complete a home inventory. The best inventories include a comprehensive list
of your belongings including brand name, price, date of purchase, model, serial number
and receipts. But if you don’t have time to create a full list, take video or pictures in every
room. Don’t forget to open drawers, and record what’s in your garage and storage
buildings. Click here for an easy-to-use home inventory checklist.

Collect Your Insurance Information

Now is the time to review your insurance policies. Make sure you are clear on what is
and is not covered. If you have any questions about your coverage, call your insurance
agent or your insurance company.

Make sure to have a copy of your insurance policy declarations page listing all of your
coverages, as well as your insurance cards. Make a list that includes your policy numbers,
insurer and insurance agent’s phone numbers, website addresses and mailing addresses.
Also, check to see if the company or agent has an emergency information/claim hotline.

It is a good idea to store this information – and your home inventory – in a waterproof,
fireproof box or safe. If you evacuate your home, take this information with you.
Finally, store electronic copies of your insurance policies and your home inventory in an
off-site location like a safety deposit box. This serves as a backup in case your safe is lost
or you cannot get to it.
For more tips on preparing for specific disasters in Oklahoma, go to our website at
www.ok.gov. For other insurance information, contact the Oklahoma
Insurance Department at 1-800-522-0071.

College students around the state have already started moving back to campus. Insurance
may be the last thing.

HOME

If your student moved into a dorm room, your homeowners’ policy will likely cover their
belongings in case of a loss. Just ask your child to let you know if he or she buys a new
computer or other pricey items. You’ll need to check with your insurance company to
make sure your coverage will take care of these things.

Students living off campus should get renters insurance. This coverage will protect your
child’s belongings and insure you if someone is injured on the property. Premiums for
renters insurance range between $15-$30 a month, depending on the location and size of
the rental unit and the value of the possessions.

No matter where your student lives, a home inventory is a good idea. The list of items
will make a future insurance claim quicker and easier to settle.

AUTO

Oklahoma requires that every car have auto liability coverage or otherwise meet the
financial responsibility requirements of Oklahoma law. Auto liability insurance pays for
property damage and bodily injury to someone else if you are found responsible for an
accident, up to the limits of the policy. If the title to the car is in your student’s name, he
will have to have his own policy. If your college student is driving a car you own, your
child can likely stay on your policy. Check with your insurance agent or insurance
company, and also let them know where the car will be stored if the address is different
than what’s on the policy.

HEALTH

Students have several options for health insurance coverage while away at college. If
your child is covered under your insurance now, chances are she will still be covered
while away at school. Any insurance plan that offers dependent coverage must make that
available until the dependent is 26 years old. Before they head off to school, make sure
your student has a copy of your insurance cards and knows what doctors, hospitals and
pharmacies are covered within your network.
College students also have the option to purchase health insurance through the
marketplace or possibly through the school.
Moving off to college is an exciting time for both students and parents. And having the
reassurance that the proper coverage is in place will make the transition go smoothly. For
more insurance information, contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.ok.gov.

Each day about 10,000 Baby Boomers enter their retirement years. According to the
Insured Retirement Institute (IRI), members of that generation are largely unsure of their
financial future. As a growing number of people take charge of planning for their
retirement, many are considering investing a portion of their assets in an annuity.

An annuity is a contract in which an insurance company agrees to make a series of
payments in return for a premium that you have paid. An annuity is an investment and
shouldn’t be used to reach a short-term financial goal.

As part of National Retirement Planning Week® 2016 this week, here are four questions
to ask to determine if an annuity is right for you.

1. Am I investing in an annuity to save for retirement or generate guaranteed
   retirement income or both?
   Many people save for retirement but haven’t taken the time to realistically project the
   costs of their future lifestyle. Envisioning how you want to live in retirement is
   essential to understanding the role that an annuity can play.
2. When do I plan on using the money invested in the annuity?
   Annuities are designed to be long-term retirement investments. Payout annuities or
   “immediate” or “income” annuities provide income payments that begin shortly after
   purchase. Deferred annuities allow you to accumulate assets for retirement and also
   offer the option to provide income payments sometime in the future. If there is a
   chance that in 10 years you’ll need to withdraw the money you plan to invest, a
   deferred annuity may not be the best investment. This is particularly the case if you
   expect to withdraw the money before age 59 ½ because tax penalties may apply.
3. What percentage of my assets is appropriate for an annuity given my retirement
   objectives?
   It is generally not a good idea to invest 100 percent of your retirement assets in an
   annuity or any other single investment. IRI estimates that the average deferred
   annuity contract should account for about one-third of your retirement savings. But
   because every person’s situation is different, your best bet is to talk with a qualified
   financial advisor.
4. What is my risk tolerance?Your risk tolerance depends on several factors, including your age, time until
   retirement and retirement goals. Annuities offer a range of investment portfolios that
   you can choose based on your risk tolerance. Variable annuities offer a wide
   selection of options, from aggressive growth funds to more conservative investments,
   like money market funds and fixed-rate instruments. Fixed annuities can minimize
   risk by locking in a fixed rate of return. A financial professional can help you
   determine your personal risk tolerance.

As with other major purchases, it’s a good idea to shop around and compare information
for similar products from several companies. While you do your research, keep detailed
records and get all quotes and key information in writing.

When you are ready to purchase an annuity, carefully review the contract with your agent
or broker. Ask for an explanation of anything that you don’t understand. Be sure you are
aware of all of the terms and conditions such as surrender charges and/or cancellation
penalties.

Although the process of planning for your retirement may seem daunting, National
Retirement Planning Week® 2016 may be the opportunity you need to get back on track.
For more resources and tools on retirement, go to www.RetireOnYourTerms.org. For
insurance information, contact the Oklahoma Insurance Department at 1-800-522-0071 or
visit our website at www.ok.gov.

According to the National Institutes of Mental Health, one in four adults has one or more
diagnosable mental disorders. While many of these conditions are common and treatable,
it is estimated that nearly half of those diagnosed are not getting the help they need.

But there is hope. The Oklahoma Insurance Department (OID) stands ready to educate
you on your mental health insurance coverage. We’re also partnering with Cathy Costello
to spread the word about this important issue. Cathy is the widow of former Oklahoma
Labor Commissioner Mark Costello. They dealt with their son’s mental illness for more
than eight years before he was accused of killing Mark Costello and arrested last August.

Cathy is featured in a new series of public service announcements encouraging
Oklahomans to call OID if they need help clarifying mental health insurance coverage.
The PSAs will air on TV stations throughout Oklahoma starting this month.

Here are a few tips for navigating mental healthcare.

How Do I Find Help?

If you are employed, check with your human resources department to see if they offer an
employee assistance program (EAP). These services generally include short-term
counseling for employees and household members. EAPs provide support for a number
of issues including substance abuse, emotional distress, major life events, personal
relationship issues and more.
There are also many nationally available hotlines if you need to speak with someone
immediately. For general mental health questions, the Substance Abuse and Mental
Health Services Administration (SAMHSA) is a good place to start. You can reach them
at 877-726-4727.

Finding Help if You Have Health Insurance

All insurance plans are required by law to cover mental health and substance abuse
services. This includes behavioral health treatment such as psychotherapy and
counseling. The plans also include mental and behavioral health inpatient services and
substance abuse disorder treatment.

Your insurance company can provide a list of providers in your plan. Your primary care
doctor may also be able to refer you to a mental health specialist.

If you have more questions about mental health insurance coverage, call the Oklahoma
Insurance Department at 8005220071.

Finding Help When Uninsured

Start with your community health center. SAMHSA provides a behavior treatment
services locator to help you find one in your area. Other places to look include university
clinics and group therapy.
You can also call 211. The free 24-hour phone line can help Oklahomans in every county
with information and referrals to community services. Its available seven days a week,
365 days a year.
If you have more questions about mental health insurance coverage, call the Oklahoma
Insurance Department at 800-522-0071.
To watch the PSAs featuring Cathy Costello, click on the following links:
:30 Version
:60 Version

February is the month of love, and many of us are searching for the perfect gift for our
Valentines. According to the National Retail Federation, Americans spent an average of
$142.31 on Valentine’s gifts last year. But instead of giving roses or chocolates, consider
giving the gift of security to your loved ones this year. Give the gift of life insurance.

Many people think life insurance is too expensive, but according to LIMRA, the cost of a
$250,000 term life insurance policy is around $150 a year. That’s nearly the same amount
of money the average person spent on Valentine’s Day gifts last year.

Choosing the right type of life insurance can also be confusing. Here are some guidelines
that can help you narrow down your options.

You might consider term life insurance if:

• You need life insurance for a specific period of time. Term life insurance enables
  you to match the length of the term policy to the length of the need. For example,
  if you have young children and want to ensure that there will be funds to pay for
  their college education, you might buy 20-year term life insurance.
• You need a large amount of life insurance, but have a limited budget. In general,
  term life insurance pays only if you die during the term of the policy, so the rate
  per thousand of death benefit is lower than for permanent forms of life insurance.

Premiums for term life insurance policy are lower when you are younger. Some term
insurance policies can be renewed when the policy ends, but the premium will generally
increase as you age.

You might consider permanent life insurance if:

• You need life insurance for as long as you live. A permanent policy pays a death
  benefit whether you die tomorrow or live to be over 100.
• You want a savings element that will grow on a tax-deferred basis and could be a
  source of borrowed funds. The savings element can be used to pay premiums to
  keep the life insurance in place if you can’t pay them otherwise, or it can be used
  for any other purpose you choose. You can also borrow these funds even if your
  credit is shaky. The death benefit is collateral for the loan, and if you die before
  it’s repaid, the insurance company collects what is due before determining what
  goes to your beneficiary.

Premiums for permanent policies are generally higher than for term insurance, but it
remains the same no matter how old you are.

There are also a number of different types of permanent insurance policies, such as whole
life, universal life, variable life, and variable/universal life. For more details, talk to your
insurance agent.

You can also find more information on this and other insurance topics on our website at
www.ok.gov or by calling 1-800-522-0071.

The New Year is a great time to take stock of our lives. You might be focusing on your
health or your finances. But I would encourage you to start 2016 by reviewing your
insurance coverage.

Your insurance policies and insurance needs change over time as you move, switch jobs,
add to your family, buy a new car and grow older. Here are six New Year’s insurance
resolutions to help you fine-tune your insurance policies.

1. Auto Insurance

Tell your insurer if there are any changes in your driving habits. Maybe you’ve moved or
switched jobs and your drive to work isn’t as far. These details can save you money.
Also, talk to your insurance agent about covering any older vehicles you own. Since your
policy will repair or replace only up to the value of the vehicle, paying for full coverage
on an aging car may not be worth it.

2. Home Insurance

The start of a new year is a great time to update your home inventory. The information
you put on this list will make an insurance claim faster and easier to settle. If you’ve
never made a home inventory, click here for tips and a template to get started.
Another good resolution: make sure your home insurance coverage remains high enough
if you ever have to repair or rebuild at today’s construction prices.

3. Life Insurance

As you launch into 2016, look for ways to cut life insurance costs. Have you become
healthier? Did you stop smoking? Are you off medications? You may now qualify for
preferred rates.

4. Health Insurance

Want to trim your health insurance costs in the new year? The best way is to become
more educated and informed about your health care. For healthy people who rarely go to
the doctor, it may make sense to seek lower premiums through a higher insurance
deductible.

If you have minimal insurance or a high-deductible plan, you may be able to save money
by negotiating whenever you get a medical bill. Don’t be shy about asking your doctor or
hospital for a discount.

5. Flood Insurance

According to the Federal Emergency Management Agency (FEMA), 90 percent of major
natural disasters in the U.S. involves flooding. Yet many at-risk homeowners don’t have
flood insurance.
A flood insurance policy is separate from your homeowner’s policy which does not pay
for flood claims. The National Flood Insurance Program is run by the FEMA. It works
with nearly 90 private insurance companies to offer flood insurance.

6. Earthquake Insurance

Oklahoma experienced almost 600 magnitude 3+ earthquakes in 2014, but the damage is
not covered by residential insurance policies. Assessing your need for a special
earthquake insurance policy should be high on your list of New Year’s resolutions.
Premiums are generally lower on an earthquake policy; however, the deductible is
generally higher. Many times these policies are best used for catastrophic earthquake
damage. Earthquake coverage can be added either by an endorsement to your current
homeowners policy or by a stand-alone policy.
These six resolutions will help you start off 2016 by spending wisely and getting the
coverage that matters the most. If you have any other questions about insurance, contact
the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at
www.ok.gov.

The holiday travel season kicks off this month with one of the busiest travel weekends of
the year. Many Oklahomans will hit the road for Thanksgiving. Because of the number of
people expected on the roadways, experts say more deadly car accidents are likely to
occur.

But there are a few simple things you can do before and during your trip to protect you
and your family. The National Highway Traffic Safety Administration (NHTSA)
recommends the following:

PLAN AHEAD

• Plan your travel and route by checking the weather and road conditions. Allow
  plenty of time to arrive safely to your Thanksgiving destination.
• • Pack your car with items that can be useful in an emergency including: ice
  scraper, jumper cables, flashlight, flares, blankets, cell phone chargers and extra
  water and non-perishable food.

CHECK YOUR VEHICLE AND TIRES

• Inspect your tires to avoid a blowout and ensure proper grip in bad weather. Make
  sure each tire is filled to the manufacturer’s recommended inflation pressure.
  Don’t forget to check your spare tire too.
• Check to see if your car has been recalled. You can enter your Vehicle
  Identification Number (VIN) into NHTSA’s free online search tool to find out. If
  there’s been a recall, call the manufacturer. Ask for solutions while waiting for
  the free fix.
• Keep up with routine maintenance. Before you leave for your Thanksgiving trip,
  have the entire vehicle checked thoroughly.

BUCKLE UP, DRIVE SOBER AND PAY ATTENTION

• Always wear your seat belt. If you’re traveling with children, the best way to
  protect them in the car is to put them in the right child safety seat.
• Never drive drunk. Every 45 minutes someone dies in the U.S. from an alcoholimpaired-driving crash. If there’s alcohol at your Thanksgiving gathering, make
  sure there’s a designated driver.
• Don’t drive distracted. According to NHTSA data from 2012, 10 percent of
  deadly crashes and 18 percent of injury crashes were because of a distraction. The
  new texting-and-driving law went into effect in Oklahoma this month. You can be
  pulled over and fined if you are caught.

Before you hit the road, it’s also a good idea to touch base with your insurance agent to
go over your auto insurance policy. Of course you’re required to carry liability coverage,
but you’ll also want protection from financial ruin. Make sure you have collision
coverage, which pays for damage your car sustains in an accident you cause, and
comprehensive, which reimburses you for loss due to theft or damage from something
other than a collision, such as fire, falling trees and contact with deer or other animals. I
also recommend uninsured motorist coverage which pays for injuries from a crash with
an uninsured motorist.

Finally, Oklahoma’s weather can be unpredictable. If road conditions are hazardous on
the day you’d planned to leave, just avoid driving. Wait until roads and weather
conditions improve before risking your safety.

With a little planning, you and your family can enjoy Thanksgiving safely and avoid any
dangerous situations this season.

For any other insurance information contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.ok.gov.