One of the first things you do when purchasing life insurance is to determine who will be your beneficiary. At Freeland Insurance, the licensed and bonded agents can assist Oklahoma City, OK residents in choosing the right person to be the recipient of the proceeds from their life insurance. In most cases, a spouse or partner is often the most common choice, but there are times when choosing someone else may be necessary.

Spouse or Partner

For most life insurance policies, the insured normally chooses their spouse or life partner to be the beneficiary of the proceeds from a life insurance policy. If they are single, it can be a business associate or the executor of their will. A life insurance policy is purchased to help a wife or husband to remain financially stable for a period of time after the loved one passes away.

Caring for the Children

If the deceased has small children and the spouse is financially secure on their own, the beneficiary may be chosen to monitor the proceeds once they are placed in a trust. The trust fund can be used to pay for the children’s needs or can be set aside for their education. Beneficiaries are often chosen based on the fact that they knew the insured’s intent prior to their passing.

If you live in the Oklahoma City, OK area and are interested in purchasing a life insurance policy, the agents at Freeland Insurance can help you choose a beneficiary that will take care of the proceeds of the policy when the time comes. Call and schedule an appointment today so that you can decide who will take care of your family and keep their best interest at heart.

Service-based businesses are one of the largest sectors of our modern economy. Cleaning services, landscapers, medical professionals, and other workers who don’t produce or sell real goods in the Oklahoma City, OK area have unique insurance needs. The experts at Freeland Insurance suggest that all service-based businesses carry these policies to protect their business interests.

• General liability coverage helps you pay for costs associated with injury, accident, or loss caused by your business. This includes legal fees for the defense of your business and employees, medical payments for the injured party, and court-ordered fees and restitution. If you rent your commercial property, general liability protection will pay your landlord if you damage or destroy the property.
• Professional liability insurance protects direct service providers from the legal costs of defending themselves against libel, slander, and even copyright infringement. Claims of false advertisement are also covered under these policies. Medical professionals like doctors, nurses, and psychologists depend on malpractice coverage, a type of liability insurance, to ensure they stay financially solvent in the face of legal claims.
• Commercial auto insurance is more than a legal requirement. The right auto insurance policy ensures that your service or delivery vehicle is always available. Your employees are covered by your policy. If they are involved in an accident while completing their job duties, your commercial auto insurance policy guarantees that you’ll have the funds to repair or replace your service vehicle quickly.
• Umbrella insurance policies are secondary coverages. All insurance policies have limits. In the case of a catastrophic loss, your primary coverage may not be enough to replace your lost property or allow you to rebuild. An umbrella policy provides additional funds on top of what your primary policy pays. These low-premium plans are a great way to ensure you’re ready for whatever is thrown your way.
• Do you have the right protection for your service-based business? Contact Freeland Insurance in the Oklahoma City, OK area for a personalized review of your business needs.

Lawsuits happen everywhere. It’s true in Oklahoma City, OK, and it’s true in the rest of the country. Most people have basic coverage, but many don’t understand the opportunity that stems from an umbrella policy. At Freeland Insurance, we’ve seen it all. These are the three biggest ways umbrella insurance can protect you.

Legal Guidance

Perhaps the most valuable aspect of umbrella insurance is that it prevents you from facing lawsuits alone. When you have an umbrella plan, it is in the insurance company’s best interest to make sure you have top shelf representation. That helps you in finding a good lawyer, and it ensures that you have a good legal plan from the start. Too many people have lost horribly because they represented themselves. Umbrella insurance prevents that mistake.

Reputation

Umbrella insurance isn’t just about protecting your assets. Many policies include clauses for libel, slander and false arrest. If someone levels accusations against you that threaten your future, you can call in the big guns. Your insurance company is better equipped to handle these difficult cases than most individuals. In many cases, winning a defamation case doesn’t just protect your reputation. You may also win a countersuit for damages.

Dollar Bills

Ultimately, this is the primary motivation for having umbrella insurance. It makes sure you aren’t bankrupted if you are liable for damages. The vast majority of times, these cases arise from an honest accident, and none of us are above having a mishap. Umbrella insurance covers the costs of your accident to keep it from ruining your life.

Life in Oklahoma City, OK, can be full of adventure. Umbrella insurance is one of the key defenses to prevent that adventure from mutating into catastrophe. Talk to your Freeland Insurance Agent to make sure you have good coverage.

Mortgage lenders may require flood insurance as part of the lending requirements, especially if the home is located in an area that is considered having a high risk for floods. These areas are designated as a “Special Flood Hazard Area” by the Federal Emergency Management Agency (FEMA).

Homeowner’s insurance does not usually cover flood damage. Flood insurance is a special type of coverage that is a separate policy. If the mortgage is federally insured or regulated, such as an FHA loan, and the home is in a high-risk area for floods, then having flood insurance is mandatory.

Even if a lender does not require flood insurance, it may still be a good idea to have it because weather patterns are changing and the risk of flooding may be there even if the home is not in a designated Special Flood Hazard Area. EcoWatch reported in 2017 that there is increasing flood risk due to the changing weather patterns that are causing routine flooding in areas that were not previously susceptible to flooding.

If you are looking to buy a home, check with an insurance agent at Freeland Insurance in Oklahoma City, OK and they can help determine if the home is in a flood zone. Sometimes real estate agents do not mention the need for flood insurance until the home someone wants to purchase is already in escrow. FEMA has maps available for the public that show where the flood zones are located. If the home is near a flood zone but not within the boundaries, it still may be a good idea to have flood insurance. Just a few inches of water that enters a home can do serious damage and create the need for costly repairs.

Contact an insurance agent at Freeland Insurance in Oklahoma City, OK for any flood insurance or other insurance needs.

Your health insurance policy isn’t just a long-winded contract full of terms and contingencies you don’t understand, it’s a blueprint to how you can take care of yourself no matter how old you are or what specific options you may face. Here are a few tips from Freeland Insurance if you live in Oklahoma City, OK and you’re hoping to get more out of your insurance.

Ask Questions

This is a standard piece of advice for all of your insurance policies, but one that often isn’t practiced because most people simply don’t have a good deal of interest in their policy. But biting the bullet and asking the tough questions is a good way to get a better handle on how insurance works in all situations. It can also make you as aware of the services that aren’t covered as opposed to the ones that are.

Apply Common Sense

It’s impossible for insurance companies to predict every possible event that may occur to a person, which is why policyholders may want to think before they make certain decisions. While it’s true that you should never assume anything specific, you can also apply relatively basic logic when it comes to whether or not a certain service will be covered. In other words, if you have major medical insurance only, your policy isn’t likely to cover dermatology visits for cosmetic purposes only.

Call Freeland Insurance

Our insurance agency is built on helping the people of Oklahoma City, OK get the most out of their policies — no matter what their priorities or budget happens to be. For more information about our services or to receive a health insurance quote, give us a call today. We can help you get a handle on health insurance!