Posts by: Krush Digital

It’s the most wonderful time of the year, which includes the fast-paced, holiday shopping season. As those hard-earned dollars start dropping for the perfect gifts on your Christmas list this year, remember the importance of protecting your investments. Whether your next purchase is a big-ticket item or a simple stocking stuffer, take some time to review the coverage on your insurance policies and consider the following tips to help safeguard your purchases.

1. Find out what your insurance policy already covers:

Many times, in an effort to make the most of precious hours during the day, holiday shoppers attempt to hit several stores during one trip. This often includes traveling from store to store with gifts in their vehicle. It’s important to find out what items are covered under your auto, homeowners or renter’s policy, including if there are exceptions. Your insurance usually protects against theft or damage, though there may be stipulations about what is covered. When the store cashier asks you if you would like the receipt in the bag or with you, request to take the receipt with you. This will make it easier and faster to prove you purchased the items in the event anything is stolen.

2. Know the stipulations of your policy:

Ask your agent about coverage amount limits to make sure your new purchases don’t exceed your policy threshold. Certain valuables might be better covered with an insurance rider or additional policy, depending on the circumstances. Understanding the possible outcomes should you have to make a claim will be extremely helpful in making the best choice.

3. Consider renter’s insurance:

If you are a renter and don’t have renter’s insurance, you might consider this kind of protection. Although your landlord should have insurance for structural damage to the building, this coverage does not extend to your personal property. Renter’s insurance is often very affordable and will be a huge benefit should something happen to your property.

4. Understand the difference between insurance and warranties:

Extended warranty sales pitches are a recognizable part of the holiday shopping tradition. Keep in mind that a warranty is not insurance and does not cover damage in the way a homeowners or renter’s policy might. A manufacturer’s warranty offers a certain kind of guarantee to the quality or performance of an item for a specified time period.

5. Update your home inventory:

Certain times of the year afford great opportunities to update your home inventory and the holiday season is no exception. The home inventory should include a list of electronics and other valuable household items with model numbers and receipts. As you buy, give away or sell belongings over time, your coverage needs can change. Checking your inventory regularly can help you save money or avoid being under-insured. A home inventory can also help when filing a claim after a loss. You can download or print a free home inventory kit on our website, http://www.ok.gov/oid/.
Be safe this holiday season and protect your gift purchases by understanding your insurance policies. If you have any questions, the Oklahoma Insurance Department is happy to help. Just call our Consumer Assistance Team at 1-800-522-0071.

Tobacco use is the single largest preventable cause of disease and premature death in the United States. If that is not enough to encourage you to rethink your next cigarette, here’s a figure that should hit home: close to 16 people a day in Oklahoma die as a result of their tobacco use. That’s 6,200 Oklahomans a year! The Oklahoma Insurance Department is committed to helping Oklahomans kick the dangerous habit. That’s why I’m urging smokers take part in the Great American Smokeout on Thursday, Nov. 15. The national event encourages smokers to quit on that day or make a plan to quit on that day.

Not only is smoking bad for your health, but it’s also bad for your wallet. Each year, tobacco use costs the U.S. $193 billion. Half of the costs are related to healthcare, which eventually leads to higher insurance rates.

Today, our state ranks 48th in the United States for smoking. Nearly half of the 6,200 Oklahomans killed each year from tobacco use, die from cancer. The rest are killed by cardiovascular and respiratory disease. Smoking costs Oklahoma businesses, taxpayers and individuals more than $2 billion every year. But the true cost is the number of lives lost to something that’s entirely preventable.

Luckily, the tide is changing. Studies show that a majority of people who smoke want to quit. Three out of five adult smokers have made a serious attempt to quit during the past year. Doctors say quitting is hard because nicotine changes your brain. Those changes make you want to keep using nicotine and cause unpleasant psychological and physical withdrawals when you don’t have it. Experts say it’s harder to quit tobacco than it is to quit heroin or cocaine. The combination of counseling and FDA approved medications greatly increases your chances of quitting for good. The Great American Smokeout is a great way to let smokers know they’re not alone and help is available.

The Oklahoma Tobacco Helpline is a great resource and way to get started. Call 1-800-522-0071 for:

• Free personalized assistance by professional Quit Coaches.
• Up to five telephone sessions with your quit coach, twice per year.
• Quit plans based on the individual’s needs.
• Help identifying and accessing available benefits
• Services available in Spanish & other languages.
• Most participants are eligible for at least a two-week starter kit of nicotine patches, gum, or lozenges.

I urge you to make this important decision for yourself and your family. Call 1-800-522-0071.

This Labor Day 386,000 Oklahomans are expected to hit the road to have fun and visit family and friends. While it can be a great time to catch up with loved ones, the influx of travelers raises the risk of an auto accident. Law enforcement also expects a rise in the number of drunk drivers. Given those two factors, now is a great time to make sure you’re properly insured.

Do not wait until you need to file a claim before evaluating your coverage. By understanding your policies, you can be prepared for any situation and, potentially, save money by avoiding unnecessary costs.

There are several things to consider when purchasing or reviewing an auto policy:

• Liability insurance is required in Oklahoma. It covers medical expenses and damages to another person’s property as a result of a motor vehicle accident caused by the insured’s negligence.
• State law requires that agents offer you uninsured or underinsured motorist protection, which provides coverage for the insured and his or her passenger if they are injured in a crash caused by an uninsured or underinsured motorist.
• Drivers with newer or leased cars may need to carry comprehensive insurance, which covers vehicular damages caused by fire, theft, wind, hail or a run-in with a deer.
• Collision insurance covers the cost of repairs or the actual cash value of the vehicle, if damaged or totaled in a crash or rollover. When financing a vehicle, banks often require comprehensive and collision coverage until the insured has paid off the loan.
• Consumers with large financial assets may want an umbrella liability policy, which provides additional coverage ($1 to $5 million) beyond the primary personal auto liability coverage.

Here is one other important element to remember: Throughout the year, you may encounter changes in employment, salary, geographic location and/or family dynamics. These factors affect your insurance options and the amount of coverage you need. Any time your life situation changes, be sure to review your insurance coverage and make any necessary adjustments. If you have any questions, the Oklahoma Insurance Department is happy to help. Just call our Consumer Assistance Team at 1-800-522-0071.

Sending a student to college can be an emotional and trying time. Remembering to pack everything they will need while away from home is a challenge — and so is understanding your changing insurance needs. The National Association of Insurance Commissioners (NAIC) offers these tips to help you review and update your insurance policies to cover your college student.

Health Insurance

Any insurance plan or insurer that offers dependent coverage must make that available until the dependent reaches age 26. Both married and unmarried dependents qualify for this coverage. Until 2014, if the parent’s coverage is through an employer, and the dependent is eligible for coverage through his or her own job, the parent’s plan is not required to provide coverage.

Know Your Policy

Before leaving home, make sure your student has a copy of the relevant insurance cards and knows about obtaining referrals and approvals (if necessary) before seeking treatment. If you are insured by a health maintenance organization (HMO), check to see if your student will be outside the HMO service area while away at school. If this occurs, the student likely will have coverage for emergency care, but might have to travel to a physician or hospital within the HMO service area for routine care. If your insurer is part of a preferred provider organization (PPO), your insurer may pay benefits at out-of-network levels if you are outside your network. Check your plan provisions or speak with your insurer to find out what level of benefits is provided by your policy.

Student Health Insurance Plans

If your student’s healthcare coverage is limited by the network service area, another option is a student health insurance plan. These plans are sold by an insurer that has contracted with a college to offer coverage to its students. In general, these plans have more limited benefits and more exclusions than traditional health insurance plans. Many policies also will exclude routine examinations and injuries sustained while under the influence of alcohol or drugs.

Renter’s Insurance

Many students bring thousands of dollars’ worth of personal items — such as electronics, a computer, textbooks, clothes, furniture or a bicycle — with them to school. So, whether your student is living on- or off-campus, it’s a good idea to review your homeowners policy to see whether your student’s personal items will be covered. If your student is younger than 26 years old, enrolled in classes and living in on-campus housing, your homeowners policy will likely extend to the belongings they take with them. However, if your student is living off-campus, talk with your insurance agent about whether your homeowners coverage will extend to the rental property. If it does not, you might want to consider renter’s insurance to protect your student’s personal property in the event that it is damaged, destroyed or stolen.

A Home Inventory

A comprehensive list of your student’s possessions — including purchase prices, model numbers and serial numbers — will help you decide how much renter’s insurance your student will need. It’s also a good idea to have a detailed inventory in case of disaster, as it will help you and your student should you have to file an insurance claim following a loss. Make sure to take photos or video of the possessions, and store the inventory in a secure, off-site location. Parents should also keep a copy of the inventory and photos. We have a home inventory checklist at www.homeinventory.oid.ok.gov.

The Big Move

Before you pack all of your student’s belongings into a car or rental trailer, make sure to talk with your insurance agent about insuring the contents. Ask if your homeowners insurance policy will cover the belongings in the student’s car or rental trailer before they get to campus. If your student is going to live off-campus, ask your insurance agent if coverage in their renter’s policy will extend to the belongings during the move. If not, ask about a separate rider in case of accident or theft.

Auto Insurance

A significant move away from home can have a big impact on your auto insurance policy. If your student is taking a car with them to school, check with your agent about the existing insurance policy. Ask about the rates for the college’s city and state before deciding whether to keep your student’s car on the family’s auto policy. In addition, the insurance company should be notified each semester if the student maintains good grades. Maintaining a certain G.P.A. might make your child eligible for a good student discount.

Sending a child away to college can be tough. But doing all you can to protect their future will help give you peace of mind. If we can be of any assistance, please give us a call at 1-800-522-0071.

Believe it or not, back-to-school time is upon us. Vacations, sports camps and extended bedtimes are coming to an end as parents and children get ready for classes to begin. As you prepare for a new school year, it’s also a great time to reevaluate your insurance needs. Here’s a quick checklist:

Health Insurance

Anyone with kids knows that being around a lot of other kids can increase their chances of getting sick. One great weapon in the fight against germs is an annual checkup. Make sure your insurance covers the yearly screenings and that you have adequate coverage for extra visits or prescriptions you may need during the school year.

Auto Insurance

Many parents put a lot of extra miles on their cars during the school months, taking children to and from school as well as athletic practices, games and other events. Those extra miles could affect your policy, so make sure to check with your agent. You should also let them know about a teenage son or daughter with a learner’s permit or new driver’s license. Let them know which cars the teens will be allowed to drive and don’t forget to ask about good grade and driver’s education discounts. If your college student plans to leave his or her car at home for the semester, you may be eligible for a reduced coverage plan for that vehicle.

Homeowners Insurance

Educational tools are very different from when we were kids. Instead of a chalkboard or an overhead projector, many teachers use PowerPoint presentations, podcasts or internet tools in the classroom. Technology is a growing presence in our lives and our kids’ lives, so make sure their laptops, e-tablets, cell phones and game systems are covered under your policy. This is a great time to download a home inventory checklist at oid.ok.gov and go room-to-room to document everything of value in your home. You’ll want to keep that list somewhere other than your home, such as a safe deposit box or stored electronically in an email.

Do your insurance homework before your children head back to the classroom. Not only will it give you peace of mind, it could also protect your family from a financial disaster.

If you have any insurance-related questions or concerns, please don’t hesitate to call our Consumer Assistance Division at 1-800-522-0071.

Oklahomahas more man-made lakes than any other state in the nation. It’s a big reason why boating is a beloved pastime for so many residents. But that fun in the sun can also put your safety at risk. These statistics from the U.S. Coast Guard prove that driving a boat can be just as dangerous as driving a car.

• In 2010, boating accidents caused 672 fatalities, 3,153 injuries and $35.5 million in damages
• Nearly three fourths of fatal boating accident victims drowned. 88 percent of those were not wearing a life jacket
• 91 percent of the deaths involved operators who had not received boating safety instructions
• 8 out of 10 boaters who drowned were using vessels less than 21 feet long
• The top accident factors include: Operator inattention, improper lookout, operator inexperience, excessive speed and alcohol
• Alcohol was the leading contributing factor in fatal boating accidents in 2010 and was the leading factor in 19 percent of fatal boating accidents

That last stat is proof that alcohol and boats don’t mix. Even if you aren’t in a crash, drinking while driving a boat can cause serious problems.

“Operating a boat while intoxicated is just as dangerous as driving under the influence in a motor vehicle,” said Lt. George Brown with the Oklahoma Highway Patrol. “The law is clear. Anyone operating a vessel with 0.08 or more blood alcohol concentration is guilty of operating a vessel under the influence. Many water-related injuries have occurred because of poor decisions and/or risky behavior. Stay safe and please do not take unnecessary chances,” Brown said.

Children 12 and under are required to wear a life jacket while riding in a boat, but the OHP recommends it for everyone on the water.

While adult Oklahoma boaters are not required to take a boating safety course, many choose to do so to reduce the risk of accidents. It may also help you save some money on insurance. Many insurance companies offer a discount of up to 5 percent if the owner completes an approved safety course. Children ages 12-16 need a boating safety certificate in order to operate a motorboat with 10 or more horsepower. The OHP offers a free 6-hour classroom course. Log on to www.okboated.com to find a course near you.

Oklahoma’s lakes and rivers provide a beautiful escape from the stressors of daily life. But be smart when you hit the water so that a day of fun doesn’t turn into a tragedy.

A recently defrauded Oklahoma senior citizen admitted, “I felt like I had ‘stupid’ written across my forehead.” This common reaction of older victims is one of the reasons that many cases of senior fraud go unreported and unpunished. Many victims feel embarrassed or fear that their loved ones will doubt their ability to independently care for themselves. But seniors who fall prey to scams are not stupid. Con artists succeed in their schemes because of their highly convincing manipulation, not because their victims’ lack of intelligence. In fact, the Securities and Exchange Commission reports this common profile of an investment fraud victim:

• Male
• 55-65 years old
• More financially literate
• College-educated
• Recent change in financial or health status
• Higher income
• Risk-takers

These are hardly shameful qualities. The only shame is in letting embarrasment stand in the way of bringing a criminal to justice.

It takes courage to admit that you have been defrauded, but reporting the crime is your most powerful tool for fighting back. In fact, reporting fraud not only helps punish criminals, it actually helps prevent crime. If all senior fraud were reported and prosecuted, we would have fewer con artists viewing senior citizens as easy targets. We would also have fewer victims who are unaware that they have been defrauded. Many fraud victims have no idea they have been scammed until they try to access the nonexistent benefits of their investment. By that time their money, and the crook, are often long gone. But when a fraud report is made, authorities have the power to raise awareness of the issue; both preventing new victims, and alerting existing victims who may be unaware. Consequently, more victims can come forward with more evidence for prosecuting criminals. Greater prosecution sends the message to criminals that it is not safe to defraud Oklahomans.

Falling for a scam can leave victims feeling vulnerable and helpless. But you have the power to retaliate against senior fraud simply by reporting it. The Oklahoma Insurance Department is committed to going after those who would take advantage of our senior citizens. If you believe you have become a victim of Medicare, investment, or prepaid funeral fraud, please call the OID anti-fraud hotline at 1-800-522-0072.

To learn more about protecting yourself, attend one of our Senior Fraud Conferences being held across the state. You can sign up at https://www.oid.ok.gov/events/, or by calling 1-800-763-2828.

Medicare, investments, and prepaid funerals represent just a few of the areas in which you may become a victim of fraud. Unfortunately, the number of possible scams is limited only by the imagination of the con artist. To protect yourself, you must be wary of some of the most common vehicles for these schemes.

Telemarketing:

Scammers who want to defraud you by phone assume that many senior citizens will speak with a stranger due to loneliness or reluctance to seem rude. They also know that, as a group, older people are much more likely to make purchases by phone. That is why, according to research, dishonest telemarketers direct as many as 80% of their calls to older adults. Unfortunately, the lack of paper trail and face-to-face interaction make telemarketing fraud exceptionally difficult to trace. Insidious as this type of fraud is, with some knowledge and caution, you can protect yourself.

• Sign up for the “do not call” registry. This free service, while not foolproof against telemarketing fraud, will significantly cut down the volume of unwanted calls. Call toll free at 888-382-1222, or register online at www.donotcall.gov.
• Establish a personal policy about unsolicited calls, and stick to it. When a telemarketer calls, explain (politely but immediately) that you do not accept unsolicited calls. Then simply hang up without allowing the caller to argue. This action is not rude. You have the right to control the calls coming into your home.
• If you do speak with a telemarketer, never provide personal or financial information to an unsolicited caller over the phone. Ask for the details in writing. You should also ask for the name, address, and phone number of the caller or the business they represent in order to verify their legitimacy. If they hesitate to honor these requests, hang up immediately.

Internet:

Con artists who try to scam older individuals online assume that senior citizens are less familiar with safety on the Web and easier targets than those who have grown up with the internet. As with telemarketing offers, knowledge and caution are keys to protection.

• Verify all offers through an outside source.
• Don’t offer personal information online in response to an unsolicited email.
• Avoid clicking on unsolicited links and popup windows. These can lead to fake websites that can be difficult to distinguish from legitimate sites. Instead, access the company’s website by typing the URL directly into your browser.

Seminars:

A free lunch can quickly become costly if you are lured into a fraudulent business transaction. A seminar setting leaves you vulnerable to being influenced not only by a convincing sales pitch, but also by the reactions of others in the group. You may also experience a sense of obligation for having accepted the free meal. If you can’t resist the invitation, protect yourself with the following tips:

• Research the company or individual offering the seminar before attending.
• Remember that the purpose of the seminar is to make sales. Information about the offer may be one-sided, incomplete, manipulative, or even dishonest.
• Resolve to delay making a commitment until you have done further research about the specific offer. Refuse to be rushed!

Although schemes to defraud senior citizens are numerous and diverse, they all share one characteristic–in order to work, they require the cooperation of the victim. You have the right to say no or to hang up. You have the right to withhold your signature and personal information until you understand every detail of the transaction and have evidence of the legitimacy of the company or individual offering it. With a healthy dose of awareness and caution, you have the power to protect yourself from fraud.

To learn more about protecting yourself, attend one of our Senior Fraud Conferences being held across the state. You can sign up at https://www.oid.ok.gov/events/, or by calling 1-800-763-28285

Anyone who lives in Oklahoma knows the summer temperatures can be dangerous and even deadly, especially for children.

Already this year, seven children in the U.S. have died after being left in hot cars. Last year, we had two such tragedies in Oklahoma.

Since 2008, it has been illegal in Oklahoma to leave a child unattended in a motor vehicle, yet it still continues to happen.

Many deaths happen because people don’t know how quickly a car can heat up, even if a window is down. In hot weather, the temperature inside a car can rise by seven degrees in five minutes. In fact, the temperature in a closed car can reach 110 degrees even when it’s 60 degrees outside. Also, a child’s body temperature can increase three to five times faster than an adult’s body temperature.

The Oklahoma State Department of Health offers the following safety tips:

• Never leave any child unattended in a vehicle for any length of time.
• Check the back seat! Check to make sure all children are taken out of the vehicle when you reach your destination. More than 50 percent of heat-related deaths occur when a distracted caregiver forgets that a child is in the back seat.
• If you are transporting a child and it is not normally in your routine, set up a reminder for yourself – a phone call from a friend or spouse, a note on the vehicle dashboard, or place something you need for the day (such as a purse, briefcase, or cell phone) in the back seat so you will check the back seat and see the child before you leave the vehicle.
• If you are transporting children and cargo, such as groceries, take children from the vehicle first.
• Keep vehicle doors and trunks closed and locked. Up to one-third of heat-related deaths occur when children are playing in unlocked vehicles and become trapped inside.
• Keep vehicle keys out of reach and out of sight. Teach children not to play in or around vehicles.
• Teach children that vehicle trunks are not safe places to play or hide. Show children how to use the emergency trunk release if they become trapped inside.

Insurance helps pay for treatment when a family member is hurt or sick, but the biggest key to fully protecting your family is eliminating risk whenever possible, not just insuring against it. Child deaths inside overheated vehicles are absolutely preventable and Oklahomans must take every step to eliminate the risk.

The 2012 NBA playoffs have brought great excitement to the state. The Thunder’s series with San Antonio has also come with some pretty amazing stats. If the Thunder wins Game 6, they’ll be just the 15th NBA team to come back from a 2-0 hole to win the series. In Game 4, Serge Ibaka went 11-for-11, the same night that Kevin Durant scored 16 straight points to help the Thunder secure a victory. Here at the Oklahoma Insurance Department, we also have some pretty impressive stats. It’s one way of making sure we’re doing all we can to protect Oklahomans.

Take a look at the numbers:

• Last year our office received 36,125 consumer assistance calls. We helped those citizens recover $4,828,578.
• We also received 1,147 complaints of fraud. Our investigators opened 408 cases and referred 87 of those for prosecution. Their efforts led to the recovery of $555,682.
• Our SHIP/SMP division conducted 893 presentations across the state, allowing them to reach 45,707 people. They also answered 11,367 calls for assistance and logged 4,503 hours of counseling time.
• 4,515 continuing education courses approved by our department were made available to Oklahoma insurance licensed professionals.
  Oklahomahas 135,832 insurance licenses on file, a sign of a very robust industry that benefits licensed agents, brokers and consumers.
• The OID generated $204,699,428 in taxes, licenses, permits, fees and services in 2011. More than half of that money went into the general revenue fund. $76,438,620 went to pensions for firefighters and police officers.

While there have been some concerns lately over severe weather affecting the ability to get and keep home insurance, these numbers show a robust market with a wide variety of choices. The Oklahoma insurance industry is thriving, thanks to h5 companies and hard-working insurance agents and brokers. Their success helps Oklahomans save money and rebound from tough times. The numbers don’t lie. A vibrant, competitive market is a slam dunk for consumers.