When you purchase a new home, at least new to you, you may or may not need to purchase flood insurance in addition to your homeowner’s insurance. Many people in Oklahoma City, OK as us at Freeland Insurance, “How do you know when you must buy flood insurance?”

Typically, this need gets brought up by your bank. Few individuals purchase homes outright, so when you obtain a mortgage, your bank provides you with a list of fees and purchase requirements. If the Federal Emergency Management Agency (FEMA) designated your home as lying within a flood zone, you will find out in your mortgage documents.

If you must purchase flood insurance, you can also find this information in your home sale and closing documents. When a home is situated within a map zone that requires flood insurance, the home seller must reveal this information in the listing or sale documents. It is one of the items the law requires the home seller to reveal during the sale process. This makes it very important for you to read all documents related to the home purchase before signing them.

You can also ask the home seller or the real estate agent outright. The law requires them to answer you directly and admit if the property does require flood insurance.

Don’t worry. Flood insurance does not cost that much. The laws are written the way they are to protect consumers from purchasing without full knowledge of what they are buying. They also have to tell you things like if a death occurred in the home or a fire.

You need to know in advance that the home requires flood insurance because, like home insurance, you have to own the policy before the bank will let you take possession of, i.e. move into, the house. Since the bank really owns the home until you pay the mortgage, they require you to assume the risk of the unpaid mortgage by buying insurance. This reduces their risk of loaning you the money to buy your new home.

Contact Freeland Insurance serving Oklahoma City, OK to obtain your flood insurance today. Let us help you find the right National Flood Insurance Program (NFIP) policy for you.

Health insurance is designed to help you cover various medical expenses, including preventative care and sickness. As of right now, children can stay on their parent’s policy until the age of 26. If you’re almost 26 years old, you do have health insurance options. Freeland Insurance, serving Oklahoma City, OK, shares some of these options.

Employer Insurance Plan

If you are currently employed with a company that offers employee health benefits, you should reach out to your supervisor or Human Resources department to find out how you can sign up. As a general rule, there will be several options available, and your premiums will be taken directly out of your regular paycheck.

COBRA

COBRA coverage allows you to petition the employer or health insurer of your parent’s health insurance policy to stay on their current plan for as many as 36 months following the day you turn 26 years old. You will need to fill out an election form and submit it to the necessary party. 

Catastrophic Insurance

These types of health insurance plans are designed to offer protection against some of the worst situations. This health insurance plan is permitted for individuals under 30 years of age and anyone who is facing undue financial hardship. 

Usually, preventative care is covered, as well as expenses greater than the deductible, which ensures you don’t go into financial distress. However, when it comes to emergency care, you will be responsible for paying for these services out of your own pocket until the deductible has been reached.

Medicaid

Oklahoma is one of the states that offer Medicaid expansion. This expansion makes it easier for more people in the state to qualify for insurance coverage, especially if you are on a low or limited income. As long as your income is a certain amount below federal poverty, you may be eligible for Medicaid health insurance. 

With any of the aforementioned options, there may be certain stipulations to meet that vary from state to state, so you should speak to a professional insurance agent with Freeland Insurance, serving Oklahoma City, OK residents.

No one knows for sure what life has in store for them. But one 2018 report said that 90 percent of long-term disabilities result from illness rather than accidents. After thinking about that fact, you might want to talk to the insurance experts at Freeland Insurance in Oklahoma City, OK. We sell short-term and long-term disability insurance.

How Long Are Disability Policies In Effect?

Short-term disability policies pay a percentage of your base salary and your medical bills as stated in the policy. Depending on your policy, the waiting period could be from days to weeks before your policy kicks in.

The benefit period for these policies varies according to the policy you choose. However, a short-term policy usually caps the term to receive benefits at a few years at most. That period for a long-term disability policy, of course, is longer. The more years your stated policy has, the more expensive your coverage is. 

What Influences the Cost of Disability Insurance?

Other factors that influence the cost of short-term and long-term disability insurance are your salary, occupation, health, age, gender and location. For your policy to go into effect, you have to be totally disabled. Generally, this means that you are unable to do the duties of the job you had before you fell ill or were injured and that you need the care of a physician.

Who Needs Disability Insurance?

People who benefit by having disability insurance are:

• Self-employed
• Sole providers for their family
• Parents of minor children
• Workers in hazardous occupations

Contact the Freeland Insurance Agency in Oklahoma City, OK to discuss your short-term and long-term disability insurance.

Many people are interested in umbrella insurance and whether they need it or not. If you have many assets or rent properties, it can be a good move to have this extra coverage in case you are sued. While umbrella insurance is effective for certain situations, anyone can benefit from this type of insurance in general. As a kind of personal liability, umbrella insurance covers claims where your standard homeowners and auto insurance stop. This can be very useful to keep you protected during unforeseen events.

The agents at Freeland Insurance located in Oklahoma City, OK can help you understand the ins and outs of umbrella insurance. We will make sure you get adequate coverage to keep you and your assets protected. 

Knowing When You Need Umbrella Insurance

There are several circumstances when having umbrella insurance will save you financially in big ways. If you are a public figure, host many social gatherings, have teenagers, or need extra coverage beyond your homeowner’s insurance, you may want to consider umbrella insurance. Your homeowners may provide adequate coverage in most cases, but an umbrella insurance policy can save you financially when it is needed most. Your family members may cause damages to others and umbrella insurance can help. You can be sued for situations that arise from your property involving your teenagers and an insurance policy umbrella can protect you. Some common instances where umbrella insurance is useful to include:

• Libel, slander, and false imprisonment
• Coverage beyond homeowners and auto insurance
• Legal expenses

Professional Insurance Agents in Oklahoma

Contact us at Freeland Insurance of Oklahoma City, OK to discuss your umbrella insurance options. Our agents work with well known companies to find quality insurance products at competitive pricing. We look forward to helping with all of your insurance needs.

Floor insurance is crucial if you live in a state with a high flooding risk, as you might lose a lot of valuable items in case of flooding. We can help you navigate what flood insurance to get. 

Freeland Insurance in Oklahoma City, OK offers flood insurance quotes for health insurance servicing the state of Oklahoma. We work with multiple providers so that you can choose the appropriate insurance quote for you.

Water in Oklahoma

Because Oklahoma has a lot of water sources, such as rivers, you might be at a higher risk of flooding. We can walk you through where you live and determine whether your risk of flooding is higher, as this determines your flood insurance quote and what type of coverage you need. 

If you live in a flood zone, there is a high chance that your usual home insurance for home flooding does not cover flooding. Therefore, you should look into flood insurance right away to avoid damage and loss of your property and items. 

Non-Flood Zones

If you do not live in a flood zone, your normal home insurance might cover you already. We can still help you check this and provide you with a floor insurance quote if it turns out you need one. 

Flooding can be a risk wherever you live. If you live near a body of water, you should always check whether you require flood insurance. 

If you want to take a look at flood insurance quotes, contact Freeland Insurance in Oklahoma City, OK today by requesting a quote from us via our website. Our agents will help you look through the quotes and help you decide what insurance to go with.