Posts by: Krush Digital

It’s time for Oklahoma drivers to be extra vigilant behind the wheel this season. More
deer accidents occur in October and November than the rest of the year. The National
Highway Safety Administration reports there are about 1.5 million annual deer-related
auto accidents.

The Oklahoma Highway Safety Office collected data in 2011 on deer crashes. There were
467 reported accidents with two deaths and 184 injuries. Sixty percent of the deer crashes
happened at night.

Vehicle collisions with deer and other animals can be costly and dangerous. Before a
crash occurs, make sure you’re protected with the right type of insurance and understand
how to prevent animal accidents.

Protection with the Right Insurance

Damage to a vehicle from a collision with an animal is covered under an auto policy’s
optional comprehensive portion. Comprehensive auto insurance also includes coverage
for fire, theft, vandalism or malicious damage, riot, flood, earthquake or explosion, hail,
windstorm and falling or flying objects. Talk to your insurance agent about adding
comprehensive coverage to your insurance.

How to Avoid an Animal Collision

Wildlife can be unpredictable. A driver may encounter a number of scenarios at any
given moment when crossing paths with an animal. Knowing how to react can make all
the difference.

• Deer tend to travel in herds so if you see one, look out for more.
• Watch for deer signs. They are placed at known deer-crossing areas. Reduce your
  speed when you see a sign.
• Be extra cautious at dawn and dusk. Many animals, especially deer, are more
  active in the early morning and at dusk.
• Use high beam headlights if there’s no oncoming traffic. Wildlife may be spotted
  sooner with high beams, and they also help spotting some animals’ reflective
  eyes.

What to Do After an Animal Accident

Some accidents are unavoidable. If you are about to hit a deer, hold firmly onto the
steering wheel, apply your brakes and come to a stop. If you can’t avoid a collision, try
not to swerve. If you swerve, you could lose control and hit a tree or veer into oncoming
traffic.

After a crash with wildlife, follow the steps below:

• If you can, move your car to a safe place and turn on your hazard lights.
• Stay away from the animal. A frightened or wounded animal can lash out and hurt
  you.
• If you can’t move your car, or the animal carcass is blocking traffic, alert the
  authorities so they can clear the roadway.
• Document the incident by taking photos of your vehicle damage, the roadway and
  any injuries sustained.
• Check to see if your vehicle is safe to operate. Check for leaking fluid, damaged
  lights, loose parts or other safety hazards. When in doubt, call a tow truck.

Finally, always wear your seat belt. This won’t prevent a collision but it can save your
life.

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

Many of Oklahoma’s lakes are full for the first time in years and Oklahomans are ready to set sail or fire up the boat motor. But before you hit the water, there are few things you should consider ensuring safety and peace of mind for you, your passengers and your property.

BOATING SAFETY

Because of the high lake levels across the state, boaters should use extreme caution on the water. Floating debris and submerged obstacles pose a special risk.

“When the lakes are up like this, the topography of the shoreline can change drastically,” said Grand River Dam Authority Chief of Law Enforcement and Lake Operations Brian Edwards. “So we are reminding boaters to use extreme caution.” Here are a few things to be mindful of during elevated lake levels:

• Watch for floating debris. Higher lake levels can mean more driftwood and trash floating in the water.
• Be mindful of the changing shoreline and the possibility of now-submerged structures. Things like stumps, picnic tables, road signs, retaining walls and other structures typically located along the shoreline may now be underwater. Avoid unfamiliar areas.
• Stay away from floodgates and spillways. Observe the buoys designating the spillway areas and allow plenty of distance between those locations and your
  boat.

“We are stressing safety and common sense,” said Edwards “We need the public’s cooperation during this high water episode.”

BOAT INSURANCE

Most homeowners or renters policies provide limited coverage for property damage to smaller boats. Limits are typically no more than $1,500 to pay for theft or physical damage to the boat, trailer, accessories, equipment and outboard motors. Liability coverage for boating is typically not included, but may be added as an endorsement.

While the homeowner’s policy can provide limited protection on certain sized boats, it is highly recommended that boats be insured through a separate policy so that you have the proper coverage for you, your passengers and your boat. The size, type and value of the craft and the water in which you use it determine how much you will pay for insurance coverage.

Some insurance companies offer premium discounts to boat owners. Discounts may be given for the following:

• Diesel-powered crafts which are less hazardous than gasoline powered boats as they are less likely to explode
• Coast Guard approved fire extinguishers
• Ship-to-shore radios
• Two years without filing a claim
• Multiple policies with the same insurer such as an auto, home or umbrella policy
• Completion of safety education courses like those offered by the Coast Guard or the U.S. Power Squadrons

Talk to your insurance agent to make sure you have the boat coverage you need. The peace of mind of knowing you are adequately insured will help you enjoy your summer
boating adventures all season long.

As always, if you have questions about insurance, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit www.ok.gov.

The Memorial Day weekend is here, and for many of us, this marks the start of summer. Your
plans are likely to include more entertaining, travel and outdoor fun. But before heading into
summer, you may want to reevaluate your insurance needs. These can help make sure you are
protected while you enjoy the warm weather.

Pools and Trampolines

While pools and trampolines can offer hours of entertainment, they also offer an opportunity for
injury. Consider purchasing an umbrella liability policy in addition to your homeowners
insurance to increase your liability coverage. Some insurance companies may not insure your
property if you own a pool or trampoline, or there may be policy exclusions for liability for
related injuries. An insurance company can also deny coverage or cancel your policy if you do
not follow the policy’s safety guidelines or fail to inform them when you build a pool or purchase
a trampoline.

Boats

The personal property coverage in your homeowners policy may cover a small boat for $1,500 or
less in physical damage. But coverage for your liability risk is limited. A large boat will likely be
excluded from your homeowners policy for property and liability coverage. A separate boat
insurance policy provides liability coverage if someone is injured on your boat. It also covers
bodily injury to others and property damage to your boat.

Personal watercrafts, such as jet skis, often require a separate policy that may be offered by your
homeowners’ insurance company or from an insurer that specializes in boat insurance.

When it comes to boats, keep in mind that coverage varies. You’ll want to check your policy and
ask your insurance agent for coverage and limitations on watercraft type and size.

All-Terrain Vehicles (ATVs)

ATVs are not covered by standard automobile insurance policies, but your homeowners policy
may partially cover liability. Ask your agent if you have sufficient coverage through your
homeowners policy. If you do not, you should consider a separate ATV policy. Ask your
provider about age restrictions regarding who may operate the ATV or if the policy covers
friends and family.

Traveling

Whether you’re leaving home for a weekend getaway or a long road trip, be aware of what your
homeowners or renter’s policy will cover while you’re gone. Typically, your homeowners
insurance will follow you, protecting you even while you’re not at home. If you’re staying at a
hotel and your belongings are stolen, your homeowners policy may provide coverage but it
depends on your policy. Some policies exclude theft. In addition to your deductible, items like
jewelry and furs will typically have a special limit. If you’re traveling with high-priced items, it’s
a good idea to get separate insurance coverage for these items. It would be a good idea to review
your policy for coverage limitations and deductibles to ensure that you are adequately covered.

Bottom line: check with your insurance agent if you have any questions on whether your current
insurance will cover all your summer plans. For any other insurance information contact the
Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.ok.gov.

An estimated $60 billion is lost each year around the country to Medicare fraud. And
whether you’re on Medicare or not, everyone pays the price for healthcare fraud, errors
and abuse with higher insurance payments and costs for medical services and equipment.

Because healthcare fraud is such an important issue, the Oklahoma Insurance
Department’s Medicare Assistance Program is hosting a series of free events to help
seniors fight scams. Experts will talk about the many different types of fraud targeted at
seniors.

Here are three things you can do now to prevent Medicare fraud:

1. Protect Your Information

There are numerous schemes used to steal from you and Medicare. But no crook
can succeed unless he has your Medicare or Social Security number.

• NEVER give out your Medicare or Social Security number to strangers
  even if they claim to be with a doctor’s office, medical supply company or
  Medicare.
• REMOVE your Social Security number from your checks. You can
  replace it with a driver’s ID number.
• DO NOT CARRY your Medicare card in your purse or wallet. Carry an
  “In Case of Emergency” card instead.

2. Check Your Medicare Statements

Always check your Medicare Summary Notices (MSN). These statements come
in the mail and are marked “This is not a bill.” This notice tells you what services
were paid for by Medicare. It is your responsibility to make sure the charges are
correct. Check for:

• Duplicate payments for the same service
• Dates of service on the MSN compared to the dates you received the
  service
• Items or services you did not receive
• Billing for medical equipment or services your doctor did not order

3. Report Any Concerns

If you find discrepancies on your MSN, or you suspect fraud when someone
offers or gives your free services or equipment, report it immediately.

• Call the company or doctor first to question the charge and ask them to
  correct it with Medicare.
• Contact your supplemental insurance company. If Medicare overpaid,
  your supplemental carrier likely overpaid too.
• If you don’t feel comfortable contacting the provider, call the Oklahoma
  Insurance Department’s Medicare Assistance Program at 1-800-763-2828.

The Senior Fraud Conferences will have more information on common scams targeting
seniors. We encourage you and your loved ones to attend. These free events will be held
in cities around the state from May to June.
For a list of locations and to register online, call 1-800-763-2828.

Retirement is something many of us look forward to, but are we properly prepared for the
challenges that could threaten our retirement future? This is National Retirement
Planning Week®, and it’s time we all take a good look at our preparations for retirement.

By developing a plan today, Oklahomans will be better prepared to overcome many of
the obstacles on the road to retirement. One possible obstacle is that people today are
living longer. That means we have to make sure we don’t outlive our savings. For an
average 65-year-old couple there is a 50 percent chance at least one spouse will live until
age 92, and a 25 percent chance one spouse will live until age 97. Without proper
planning, that couple will almost certainly run out of money too soon.

To help you prepare for the uncertainties of retirement, here is the Retirement Realities
Checklist developed by the Insured Retired Institute (IRI):

• Determine your Sources of Guaranteed Income
  For decades, retirees have relied on Social Security and pension plans for
  retirement. In recent years, Social Security has become more unstable, and many
  companies no longer offer pensions. According to the IRI, at the current rate of
  benefit payments, Social Security will be exhausted by 2033. It may be smart for
  you to consider other sources of guaranteed income like annuities. To learn more
  about annuities, go to www.ok.gov.
• Determine your Sources of Non-Guaranteed Income
  Non-guaranteed income includes stocks, mutual funds, bonds, commodities,
  inheritances and payments from company savings plans like a 401(k). Interest,
  dividends and other gains help grow your overall retirement investment portfolio,
  but they don’t offer guarantees on principal or earnings. Knowing the sources of
  non‐guaranteed retirement income can help your advisor construct a plan that also
  offers income protection to help preserve some of these gains.
• Prepare for Longevity Risk
  None of us know how long we will live. Some investments may not have funds
  available for as long as needed. Look into supplementing your retirement
  investment portfolio with a guaranteed income product.
• Prepare for Market Uncertainties
  The Great Recession had a major impact on everyday living expenses and
  retirement savings. Nearly one-half of Baby Boomers found it more difficult to
  pay for essential items like food, gas, and medication. And 20 percent made
  premature withdrawals from their retirement savings accounts. Although no one
  knows if and when a market downturn will occur again, the ups and downs of the
  financial markets must be considered when saving for retirement. Some
  investments are more susceptible to market swings than others, and you should
  determine how much risk you want to take with your nest egg.
• Prepare for Inflation
  Inflation can easily take away from the value of your savings over time.
  According to the Bureau of Labor Statistics, the inflation-adjusted equivalent of
  $100 in 1991 is $172 in 2015. Although a yearly cost-of-living increase of three
  percent doesn’t seem like a lot, it can add up considerably over a retirement
  period that lasts several decades.
• Prepare for Health Care and Long-Term Care Costs
  While Medicare provides medical insurance to most Americans over 65, it does
  not provide complete coverage. According to the IRI, out-of-pocket medical
  expenses for people covered by Medicare are expected to exceed $4,300 per
  person and $8,600 per couple per year—and these costs are expected to rise.
  Long-term health care costs also need to be considered. Medicare does not
  generally cover home health care costs. Nursing home costs are generally covered
  by Medicaid after you spend down your assets. Therefore, preparation for these
  contingencies is key. Long‐term care insurance is one way of covering these
  costs, although premiums and benefits vary widely.

Retirement is not a point in time or a destination. It can be a decades-long period where
many factors can impact your savings and expenses. Work with an advisor to come up
with the best retirement plan for you, and get ready to enjoy your future.

For more information about National Retirement Planning Week®, 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.

Daily life and the pressure of just thinking about the future can make planning for your
retirement seem daunting. However, there are opportunities to calm these apprehensions.
That’s why the Oklahoma Insurance Department is supporting the National Retirement
Planning Week® 2018. This week, I am recommending you make a conscious effort to
focus on your financial needs in retirement no matter what life stage you’re in right now.
It is possible to retire on your own terms if comprehensive plans are properly developed
and implemented. Simple things, such as being proactive and routinely assessing your
financial preparedness for retirement, are easy first steps towards achieving a financially
secure retirement. The guidance of financial professionals will help you define and
achieve your goal.
In addition to being qualified to provide you with general financial planning services,
many financial planners hold insurance and securities licenses that allow them to buy or
sell various insurance and investment products. Other general advisors may recommend
the use of more specialized financial advisors to help you implement certain
recommendations. The following is a partial list of the different types of financial
advisors:

Accountant

Accountants help with tax advice and assist with your tax returns that go to the state’s tax commission and the Internal Revenue Service. All accountants who
practice as Certified Public Accountants in Oklahoma must be licensed by the state. Also
CPAs must be enrolled with the IRS if representing the taxpayer.

Estate Planner

Estate planners give advice on estate taxes or other related issues and
put together a strategy to transfer your assets to your beneficiaries. Attorneys,
accountants, financial planners, insurance agents or trust bankers may all help with
estate-planning services.

Financial Planner

A financial planner is someone who uses the financial planning
process to help you figure out how to meet your life goals. In general the planner can
look at all of your needs, including budgeting and saving, taxes, investments, insurance
and retirement planning.

Insurance Agent

Insurance agents may be licensed by the state or states where they
sell life, health, annuity and property and casualty insurance products. Advisors may
recommend various coverages to protect your finances, but only licensed insurance
agents can sell insurance products.

Registered Investment Advisor

In our state, anybody who is paid to provide securities
advice must register as an investment advisor with the Oklahoma Securities Commission
and the U.S. Securities and Exchange Commission. Financial planners often advise
people on securities-based investments, so many are registered as investment advisors.

You can use the checklist at retireonyourown.org to determine if a particular type
of financial advisor will fit your needs. You can also find other resources there, such as a
retirement calculator and basics on investing. For insurance information, contact the
Oklahoma Insurance Department at 1-800-522-0071.

Storm season in Oklahoma is here, and now is the time to prepare for the worst. It’s
almost impossible to plan for tornadoes or severe weather since every storm is different
and unpredictable, but having a few key tasks completed before a disaster hits will give
you peace of mind.

First, make sure you have sufficient homeowners insurance.

Standard homeowners
insurance policies cover damage caused by tornadoes to the structure of the building and
its contents. Your coverage limits should reflect the current cost of rebuilding your home
and replacing your personal belongings. You should also check to see if your policy
includes replacement cost or actual cash value. Replacement cost is preferred because it
pays to replace the lost item with a brand new replacement. Actual cash value only pays
what the item is worth now. For example, a laptop purchased for $2,000 four years ago
may now be only worth $700. Finding another comparable laptop at that price would be
extremely difficult.

If you rent your home, renters insurance will cover the loss of personal possessions if
your house or apartment is destroyed in a tornado. Most policies will also reimburse you
the difference between additional living expenses and normal living costs if you are
forced to live somewhere else because of the damage.

Second, check your car insurance coverage.

Damage to cars from a tornado is covered
under the optional comprehensive portion of a standard auto insurance policy. Oklahoma
does not require that drivers have this coverage. Minimum liability coverage will not
cover the cost of replacing or repairing your car if it is destroyed or damaged in a storm.

Third, make a home inventory or update your current inventory.

A thorough list of
your possessions will help speed up the claims process and ensure that you are properly
compensated for your loss. Include pictures or video if possible and write down as much
detail as you can about each item including when it was purchased and how much it cost.
Store both your home inventory and photos at a secure, off-site location like a safe
deposit box or with an online storage service. For help making your home inventory, go
to www.ok.gov/oid/HomeInventory.

Fourth, make a family emergency plan.

Decide where your family will take shelter if
there is a disaster. Determine how family members will contact one another and get back
together after an emergency. Also, create an emergency supply kit that includes items
like non-perishable food, water, a battery-powered radio, flashlights and batteries. And
don’t forget about your pets. Include them in your planning and make sure you have
supplies for them as well.

Finally, have copies of your insurance policies and contact information for your agent or insurance company.

Keep these where you can access them after a disaster.
Calling your insurance company or agent is the first step in filing a claim and getting you
on the road to recovery.

Following these guidelines will help you face the unexpected during Oklahoma’s storm
season. For more information or help with any insurance related questions, please contact
the Oklahoma Insurance Department’s Consumer Assistance Division at 1-800-522-0071.

Did you know that each year 58 million pounds of chocolate candy is bought to celebrate
Valentine’s Day? However, if a loved one skipped out on the chocolate this year and is
splurging for an expensive gift such as a ring, mink coat or handgun, then it’s time to talk
to your insurance company.

Standard homeowners and renters policies include content coverage for jewelry and other
valuables. But, many policies limit the dollar amount of coverage for theft of guns, furs,
jewelry and silverware from $1500 to $2500. You will find this language under
SPECIAL LIMITS OF LIABILITY in your homeowner’s policy. This dollar limit is not
per item, this is the most they will pay for one theft claim. Therefore it is important to
have these special items properly insured using floaters or endorsements.

Floaters and endorsements are available as additions to your homeowners or renters
insurance policies. Prices vary and are based on the type of jewelry or valuable being
covered, the insurance company you choose, where you live and where the item will be
kept.

Floater insurance is a type of policy that covers property that is easily movable and
provides additional coverage over what normal insurance policies do not. Floaters are
available for just about anything you own including jewelry, furs, fine art, musical
instruments and even golf equipment. Adding a floater assures the homeowner that the
full value will be replaced in the event of theft, loss or damage.

To make sure your new gifts are adequately protected, here are a few tips:

• Keep a copy of the store receipt
  It’s not very romantic, but keeping the receipt will protect you. Give a copy of
  the receipt to your insurer so the current retail value is documented.
• Store valuables in a secure location
  Protect your jewelry by storing it in a secure location in your home or, if you
  don’t plan on wearing your jewelry all the time, consider keeping it in a safe
  deposit box. You may save money on the cost of insuring it as some companies
  offer “in vault” coverage.
• Take a picture of the item
  Get into the habit of keeping a visual record of all of your personal possessions.
  This helps to document your loss and can speed up the claims process. It also
  helps when preparing your home inventory.
• Remember to add the item to your home inventory
  Everyone should have an up-to-date inventory of their personal possessions,
  including valuables. This can help you purchase the correct amount of insurance
  and will make the claims process easier if you suffer a loss. To create a home
  inventory, go to www.oid.ok.gov/home-inventory/

While it is impossible to put a price on love, purchasing the right coverage to protect
those tokens of appreciation against theft, loss or damage adds peace of mind to your
expression of love.

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

The Super Bowl is one of the most exciting events of the football season. Last year the big game
was the most-watched television event in U.S. history with 111.5 million viewers. Preparations
for game day are underway. People who plan on hosting parties are deciding on what food to
serve, stocking up on drinks and cleaning the house. However, one thing that may not cross your
mind is the risk you may face as the host of a Super Bowl party.

As you make plans for the big game, here are some things to consider:

1. If one of your party guests is injured at your house, will you be financially responsible?
   Personal liability insurance can protect your home and assets. This type of protection
   provides coverage when others are hurt or have sustained damage to their property for which you are responsible.
   Another protection is medical payments insurance. This provision covers the medical expenses of others who are accidentally hurt at your house without the requirement of
   negligence. You can check with your insurance agent whether this is in your
   homeowner’s policy.
2. Are your most prized possessions in your home protected?
   If a guest gets rowdy, and your antique vase gets broken , a scheduled personal
   property endorsement to your homeowner’s policy will cover you. This endorsement
   protects loss or damage to personal property like fine art, collectibles or sporting
   equipment that is not adequately covered under a traditional homeowner’s insurance
   policy.
3. Does the thought of having guests at your house worry you?
   Consider another venue for hosting the party rather than your home. Planning a party
   at a restaurant or bar will help minimize any liability risks to you.
4. How big is your Super Bowl get-together?
   You might think about event insurance. There are two different types of event
   insurance – liability insurance and cancellation insurance. For a large Super Bowl party
   at your house, liability coverage in addition to your homeowner’s policy will make sure
   you are adequately covered.

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

It’s a new year, making it a good time to reflect on our insurance needs. A great deal of
things can change in 12 months, which is why an insurance review is recommended.
When reviewing your insurance coverage, here are a few questions from the Insurance
Information Institute that can help you figure out whether you may need to talk to your
insurance professional about making a change to your coverage.

Did you get married or divorced?

If you got married, you may qualify for a discount on your auto insurance. Couples may
bring two cars into the relationship and two different auto insurance companies, so take
the opportunity to review your existing coverage and see which company offers the best
combination of price and service.

However, if you got divorced over the past year, you will probably no longer be sharing a
car with your former spouse and have likely moved to a different residence. If this is the
case, you should inform your insurer as you will need to set up separate auto and
homeowners policies.

Have you had a baby?

If you have recently added a child to your family, whether by birth or adoption, it is
important to review your life insurance and disability income protection.

A new child will add to expenses, requiring more life insurance to keep your family
secure. If you plan to save for your child’s college education, life insurance can assure
completion of that plan. And if you keep your current life insurance policy, don’t forget
to update the beneficiary designations to include the new child.

Did your teenager get a driver’s license?

It is generally cheaper to add your teenagers to your auto insurance policy than for them
to purchase their own. And choose the car carefully; the type of car a young person drives
can dramatically affect the price of insurance.

Also, encourage your kids to get good grades and to take a driver training course. Most
companies will give discounts for getting good grades in school and for taking
recognized driving courses.

Have you switched jobs or experienced a significant change in your
income?

In the case of an income increase, you may have taken on additional financial
commitments that your survivors will depend on. Make sure to review your life and
disability insurance to ensure it is adequate to maintain those commitments.

If your income decreased, you may want to cut your life insurance premiums. Term life
insurance is a good option, as the premium rates are very reasonable. And if you already
have two or more policies you might be able to replace both with a single policy at a
lower rate because you may reach a “milestone” amount of insurance. But don’t drop
existing life insurance until after you have a new policy in place.

Have you done extensive renovations on your home?

If you have made major improvements to your home, inside and out, you risk being
underinsured if you don’t report the changes to your insurance company. An increase in
the value of the structure of the home may require an increase to your homeowners
insurance coverage limits.
If, as part of a renovation, you purchase furniture, exercise equipment or electronics, you
may need to increase the amount of insurance you have on your personal possessions.
Keep receipts and add any new items to your home inventory. You can create a home
inventory by visiting www.oid.ok.gov/home-inventory.

Have you signed a lease on a house or apartment?

If you are renting a home, your landlord is usually responsible for insuring the structure
of the building, but not for insuring your possessions. Renters insurance is a good
investment, if you want to be covered against losses from theft and catastrophes such as
fire, lightning and windstorm damage.

Like homeowners insurance, renters insurance includes liability, which covers your
responsibility to other people injured at your home and pays legal defense costs if you are
taken to court.

Have you retired?

If you commuted regularly to your job, in retirement your mileage has likely plummeted.
If so, you should report it to your auto insurer as it could significantly lower the cost of
your auto insurance premiums. Furthermore, drivers over the age of 50-55 may get a
discount, depending on the insurance company.

For more information or help with insurance questions, please contact the Oklahoma
Insurance Department’s Consumer Assistance Team at 1-800-522-0071.