This is where Tulsa Insurance Guy comes in. They have the connections, knowledge, and understanding of the auto insurance market to get you the best and cheapest rates in Tulsa. They work with over 70 different insurance providers to ensure that you are given the best options for your auto insurance coverage. Look no further than Tulsa Insurance Guy to get the best coverage at the best price for all your auto insurance needs.

How to Get the Best Auto Insurance Rate

With a little bit of research and some critical thinking, you can make better choices for your Tulsa auto insurance. If you do your homework and come to your insurance broker with at least some semblance of a plan for your auto insurance based on your situation, vehicle arrangement, and budget.

Tulsa Insurance Guy has many ways to get you the best auto insurance rates on liability, full coverage, and bundles. Here are a few ways to save money on your auto insurance by reevaluating your current setup of vehicles and auto insurance policies.

Best Auto Insurance Rates – Liability

Liability Auto Insurance is a relatively simple type of policy that every auto insurance provider offers to anyone looking for coverage for their car or family of cars. It is the cheapest option for auto insurance, but that comes with a few caveats.

When is Liability Auto Insurance Useful?

It may be the frugal choice, but it may not be the right choice for you. That said, liability insurance is a great choice if your budget is tight or if your car is a bit older.

If your car has lost the majority of its value either through wear, age, or a previous accident, then liability auto insurance could be perfect for you. Another way liability coverage can fit for you is on a secondary vehicle. Let’s say you have a sedan you drive almost everywhere. It goes to and from work, on grocery runs, and even on road trips to see family, but you have a truck to haul lumber for your side job making custom doghouses.

Your second vehicle that gets used only periodically doesn’t require full coverage. Liability will work just fine in this case and it can keep your auto insurance rates lower overall.

What are the Drawbacks of Liability Auto Insurance?

Liability auto insurance can be great if you are on a budget or if you just need to insure your secondary vehicle, but it does have its drawbacks for being so cheap.

The coverage is not great. Your car’s value is not protected by the insurance plan, only the cost of mechanic shop expenses, medical bills and lost wages of the other driver in a potential accident (some insurance brands also cover your medical bills and lost wages in liability coverage, but usually at added expense). This is the bare minimum coverage just to get you out from under the financial burden of the reparations paid to the other motorist.

You know you better than anyone and can tell by now if liability is a good idea for you, or if you should continue to look for a better solution. If you are generally a good, responsible driver with good defensive reaction, you may never have to worry about your auto insurance. If not full coverage may be the way to go for you.

Best Auto Insurance Rates – Full Coverage

Full coverage Tulsa auto insurance is exactly that: it covers everything fully. Both you and the other motorist in a hypothetical crash are covered, including the value of your car. Full coverage auto insurance is a great option for newer cars with more intrinsic value.

When is Full Coverage Auto Insurance Useful?

In most cases, this option is the better option in every way. Since it covers so much in the event of an accident, you can rest assured that if anything were to happen on the road, you are covered and so is the motorist you collide with. This kind of functionality and assurance comes at a price.

This higher price can be anywhere from twice as much as liability to ten times the price or liability coverage on the same vehicle. Your budget is the limit here and depending on how much you have to spend, you could get double and triple coverage on your car and expenses for after-crash care.

Full coverage auto insurance gives you confidence on the road that liability coverage could never do. This is still not a reason to drive unsafe, but you can rest easy if you get into an accident.

What are the Drawbacks of Full Coverage Auto Insurance?

Full coverage auto insurance is the go-to option for people with a higher budget or if their vehicle is newer and more valuable. This is a great thing to have in these cases, but what are the drawbacks, if any, to full coverage auto insurance?

The price is pretty high. With an unlimited supply of money, full coverage auto insurance is a no-brainer, but if you have a limited budget, there’s a good possibility that full coverage will be out of reach. This can be solved through a bit of shopping around to find a company that offers full coverage at the lowest price. Insurance brokers such as Tulsa Insurance Guy can help you shop around and find a company and price point that works for you and your desired configuration of coverage.

If you think you’ve found a good option for you, or if you already have a great auto insurance policy, you can save even more money by bundling with other insurance options.

Best Auto Insurance Rates – Bundle and Save

There’s a reason that last sentence doesn’t contain the word “auto:” you can bundle with any insurance policies. Most insurance companies offer home, life, renter’s, and even boat and motorcycle insurance to try to keep all your policies under the same roof. Bundling these policies can cut out a lot of headache and lower the cost of your overall insurance bill by quite a bit.

When is Bundling Auto Insurance Useful?

If you have multiple large ticket items bringing up the value of your belongings, you may want to get them all insured just in case anything tragic happens to them. Getting them insured can be a hassle if you are insuring them all individually, but bundling them can help cut down on overall cost. It can also help simplify your insurance payments down to a single payment monthly, quarterly, or biannually.

Working with an insurance broker can help make this process even easier as they can figure out the best system of bundling to get you the lowest cost on your auto insurance.

What are the Drawbacks to Bundling Auto Insurance?

If you don’t have multiple things in need of insuring, there would be no way to get any sort of bundle discount. With a limited budget, it would not make sense to add more cost just to reduce the cost a few dollars. Not every insurance company offers bundling to give a discount, making it hard to predict how you are able to save money. Bundling locks you in to one specific company, keeping you from finding the cheapest rates for each individual thing from all the insurance providers.

The good and bad of bundling your insurance make it a more nuanced choice that can be best made with the help and knowledge that a professional insurance broker can offer. Tulsa Insurance Guy is able to help with these kinds of choices.

Tulsa Insurance Guy is an insurance broker in Tulsa working with many different kinds of insurance, including auto, home, life, renter’s, and even motorcycle insurance. They work with over 70 different insurance agencies to make sure you have the most options to find the right policy and price for you and your budget. They understand that finding the best and cheapest insurance is not an easy task, and they will do everything they can to make your insurance selection process easier on you.

They put all your policies into one simple monthly, quarterly, or biannual payment plan so you don’t have a bunch of bills going to multiple places. Keeping up with that would be annoying to juggle along with everything else in your busy life. This cuts out the need for bundling to save headache and needing to send money to a bunch of different destinations.

If this article helped you, click here to learn more.

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With a little help from the right people (that’s us), you can narrow down the life insurance offerings from many of the major insurance providers and make it easier on yourself to pick a plan that fits you best. Finding a good guide to the types of life insurance (that’s this article) can help you educate yourself on the options you have for life insurance coverage to make sure your family isn’t left high and dry when you die.

Term Life Insurance

Term life insurance, also known as pure life insurance, is life insurance that ensures payment to specified beneficiaries during the policy term. Once the term expires, the policyholder can renew it for another term, convert the policy to permanent coverage (also known as whole life insurance, expounded on later in this article), or allow the policy to end with no payout to the beneficiaries.

The policy’s purpose is to give insurance to individuals against the loss of life. All payments by the policyholder cover the cost of maintaining the life insurance policy itself. As a result, term life insurance premiums are lower than those on other life insurance policies.

What Term Life Insurance Includes

Term life policies have no value other than the guaranteed payout of the death benefit upon the death of the policyholder. This cash benefit may be used by beneficiaries to settle the policyholder’s healthcare and funeral costs, to pay off debt, or to pay mortgage debt, among others.

Since the payments only cover the cost of the Tulsa life insurance policy itself, the policy is usually very simple and straightforward. The only thing included in most term life insurance plans is the payout to the beneficiaries in the event of the death of the policyholder.

Perks of Term Life Insurance

Term life insurance is very cheap. It costs the least out of any of the major life insurance offerings from all the major insurance providers. You can be sure that term life insurance has you covered without eating away at your wallet.

Term life insurance is flexible. You can get many different versions of term life coverage based on your price point and the insurance company that you choose. With low obligation to the specifics of the life insurance policy of term life insurance, you can easily change or cancel the plan whenever you desire.

Term Life Insurance is Perfect For…

Term life insurance is perfect for basically every person at any point in life. Typically, young people with new families are a target demographic for term life insurance. Because of its relative simplicity and low monthly price tag, the value lends to any walk of life. Every person should get a life insurance policy, and getting a term life insurance policy is so easy and inexpensive compared to some other options that it just makes sense.

Term life insurance is a great choice for people of every walk of life to make sure you and your family are covered just in case tragedy strikes. The low premiums and high payout to the beneficiaries, this life insurance policy is perfect for anyone. Even if you already have a life insurance policy, you can get another term life policy to make sure your double covered.

Whole Life Insurance

Whole life insurance is just that: Tulsa life insurance that lasts throughout your whole life. Its benefits well outweigh the rise in premiums from a term life insurance policy. Many people look at whole life insurance as a way to safeguard money in the event that tragedy strikes and your family is left behind with the payout of your life insurance.

What Whole Life Insurance Includes

Whole life insurance policies are similar to term life insurance but differ in two distinct ways. Your premiums not only pay to facilitate the insurance but add to the value of the payout to your appointed beneficiaries. Another difference is the length of time that life insurance is in effect.

This seems like a given, but in the abundance of clarity, we wanted to include it to make sure everything about life insurance made sense. Whole life insurance policies last for the lifetime of the policyholder as long as they continue to pay their premiums.

Perks of Whole Life Insurance

The coverage of your life insurance is guaranteed over your entire life as long as the premiums are paid at the proper times. This makes whole life plans one of the simplest plans with the least headaches of all the life insurance options.

Coupled with the coverage of whole life insurance is the cash savings that, depending on the plan and company you get your insurance from, may be invested to bolster growth for a higher payout to the beneficiaries. This cash savings can be drawn upon after an allotted timeframe, which could be based on time in general or the number of premiums paid.

Whole Life Insurance is Perfect For…

Whole life insurance is perfect for anyone who knows money is not a factor and who wants an insurance plan that is no-nonsense. Since whole life insurance is a “set it and forget it” kind of policy, its great for people who want to just pay the premiums when they are due and not really think about it. As time goes on the cash value can be drawn upon, so this makes it perfect for someone who is looking for a long-term moneymaker.

Universal Life Insurance

Universal life insurance is a sort of middle ground between term and whole life insurance policies. Depending on the company you go with, universal policies can have many different perks and features, as well as differences in payment schedules and pricing.

It also introduces some new things that neither of the other types has such as lump sum premiums and flexible premiums, which we will get into further down in this article. Universal life insurance is offered by most life insurance providers as a cheaper alternative to whole life insurance policies.

What Universal Life Insurance Includes

Universal life insurance can include the best of the other two major types of life insurance. This can mean low premiums like term life insurance coupled with cash value and lifetime coverage, similar to whole life insurance policies. This may seem like the best option because it blends the best things from the other two, but that all depends on what company you go with.

Some companies require a lump-sum premium, which is a large “down payment” as a way to start the policy. This can be a difficult option for people on a budget. This lump-sum premium may be coupled with small monthly premiums, so if you are able to pay the large premium upfront, this option may suit you well.

Perks of Universal Life Insurance

Universal life insurance is flexible. The policyholder has the ability to change quite a few things about their insurance plan at any time. These things include adjusting the size and timing of premiums as well as reducing the death benefit by increasing the cash value of the policy.

Universal life insurance typically has a cheaper premium. With the exception of the lump sum premium that may be a part of the universal life insurance policy, the monthly, quarterly, or annual premiums are much lower than the corresponding premiums in whole life insurance.

Universal Life Insurance is Perfect For…

Universal life insurance is perfect for someone who wants the benefits of whole life insurance with the cost of term life insurance. If you find the right offering of universal life insurance, you can get the perfect balance of both of the other main types of life insurance policies, making universal life insurance the best option.

If you are looking for the perfect blend of term and whole life insurance, universal life insurance may be just that. You may find that the lump sum premium is too much, or you may never be faced with that, in either case, universal life insurance can be a great option to consider.

What Type of Life Insurance is Best?

The perfect life insurance policy doesn’t exist, but universal life insurance gets very close with the right caveats. Tulsa Insurance Guy can help you find a universal insurance plan that meets your criteria and fits within your budget. Make sure your family is taken care of right in the event that you die.

Tulsa Insurance Guy is an insurance broker in Tulsa specializing in life insurance, auto insurance, and homeowner’s insurance. They work with over 70 insurance providers to make sure you have countless options to cover your life, home, vehicles, and all your toys.

Give Tulsa Insurance Guy a call to set up the perfect plan for you and your family and make sure that everything the concerns you are covered by the perfect insurance plan.

If you found this article helpful, check out our others here.

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Most types of death, including natural death, are covered under most life insurance plans, but if you are unsure about your plan, it can keep you up at night. No one wants to leave their loved ones with nothing, so making sure you know is imperative.

We have done the research and found out the information for you. We have compiled what we know in an easy-to-understand list to help you understand your life insurance plan and help you find a better fit if yours is lackluster.

Is Natural Death Covered Under Life Insurance?

In short, yes it is. There are some caveats to keep in mind, but generally, Tulsa life insurance covers almost every type of death that could occur to the policyholder. Built into life insurance plans is a death clause that covers all types of death to the policyholder. In some instances, insurance companies can amend this clause and revoke the policy.

Make sure you are aware of this when you set up your life insurance plan.

What Is ‘Natural Death?’

Natural death is classified as such if the medical examiner or coroner deems the death was not as a result of external circumstances. This means that no person or object was involved in the death of the person. This is only determined by the coroner or medical examiner after the evidence and state of the body are investigated and it is determined that the person was not killed by a person or object. They also rule out suicide as a cause of death to come to this conclusion.

Natural death is not technically a cause of death, but a manner of death category that quite a few causes of death fall under. These causes of death are things such as kidney disease, heart attack, stroke, and infections like sepsis or tuberculosis. These are the causes of death are responsible for nearly 90% of the deaths in the last thirty years.

Other manners of death, including suicide, homicide, and accidents like car crashes and drug overdoses, make up only around 10% of deaths. These forms of death are also covered under most life insurance policies as well, but that is for another article.

What Are the Exceptions to Life Insurance Policies?

There are certain cases in which the Tulsa insurance company can deny enacting the death clause of your life insurance policy. These are very fringe cases and mostly can be ignored. There is nothing to worry about unless you are not forthcoming and honest with the insurance company when setting up your life insurance policy.

One of the cases in which this problem occurs is when the policyholder withholds vital information that can affect the life insurance plan. Things such as medical releases, diagnoses, known diseases and complications, and at-risk pregnancies are all in this scenario. As long as you are open and honest with the insurance company about these things, this should not be an issue for your life insurance.

Within the first two years, insurance companies do an investigation into the circumstances of a policy holder’s death to determine if the death was caused by an undisclosed medical condition. After two years, insurance companies will payout to the beneficiaries without any investigation

Within that first two years, if you haven’t withheld any pertinent medical information, the insurance company’s investigation will be quick and your family will see the payment enacted not long after the investigation is concluded.

What Types of Death are Covered on Life Insurance Plans?

As stated earlier, natural death, accidental death, homicide, and suicide are all covered by Tulsa life insurance. This covers almost every type of death, and even the fringe cases should be covered as well. Just in case there is any confusion about what each manner of death is, here is a quick guide to what is included in each.

Natural Death

Earlier in the article, we defined this as death that was not a result of external circumstances. External circumstances include death at the hands of another person or by an object such as large machinery, building material, or vehicle. In this case, there isn’t much question about what happened. A medical examiner or coroner can usually find out the cause of death quickly and report it to the life insurance company to get the policy in order for the family of the policyholder.

Natural death is the most common manner of death and insurance companies usually have no issue getting the policy taken care of.

Accidental Death

At first thought, accidental death insurance seems quite simple without the need for explanation, but you’d be surprised actually constitutes an accidental death. You may also be floored as to what goes into the coverage of accidental death and the actual features in an accidental death insurance plan. Accidental death constitutes any death, not from natural causes. This also excludes death from homicide and suicide.

Accidental death is covered under all life insurance policies. There are even special policies specifically for accidental death if your lifestyle or career brings some heightened risk with it. These policies have no correlation with a general life insurance policy and payout separately from the life insurance.

You may be surprised to know that most life insurance policies consider drug overdose as an accidental death. This has become more common as the years have passed and drug abuse statistics have increased. There are a few more fringe cases that are considered accidents, but they are usually specific to the insurance company and their policies.

Homicide

The dictionary defines homicide as the unlawful killing of one person by another. Another word for it is murder. Life insurance covers death by the hand of another. Wrongful death is never a welcomed experience, but your family can rest at ease with the life insurance policy covering the death and paying your loved ones for the policy.

Homicide is a fairly cut and dry process for the insurance company. Police departments make a detailed report and investigation, give the records to the insurance company, and the insurance company enacts the death clause of the life insurance policy to payout to the beneficiaries in the victim’s family.

Suicide

Even though this type of death is not caused by the hand of another and is not caused by an accident involving an object, it is covered by life insurance in most cases. There is usually a suicide clause added to the policy to account for the possibility of suicide (God forbid that happening).

There are some cases where the life insurance policy has a suicide exclusionary clause, but these are few and far between. Some policies have exclusionary clauses for suicide that pertain to the circumstances surrounding suicide. These circumstances could include failure to seek counseling for suicidal tendencies and untreated depression leading up to suicide.

Physician-assisted suicide, also called “death with dignity,” is also covered by insurance, but with a few caveats, such as the death with dignity taking place within the first two years of the plan. After the first two years, death with dignity and physician-assisted suicide will not be contested by the life insurance company.

Frequently Asked Questions

With all the different aspects of life insurance, there are some questions that loom overhead about some things associated with life insurance. Here are some of those questions and their answers.

What about death from a natural disaster?

This type of death technically falls under natural death. It is a fringe case that needed to go somewhere and it didn’t fit in the other categories. Some life insurance policies have a separate clause for natural disasters, or “acts of god.”

What about death on the battlefield or in armed forces?

The US armed forces have their own life insurance offerings and in the event of the death of one of their soldiers, the spouse or family of the soldier gets the payout from the branch of the military in which he served.

What about death from cancer?

Cancer deaths fall under natural death in most cases. They should be treated as such in regards to the life insurance policy held by the victim.

Tulsa Insurance Guy is an insurance broker in Tulsa that specializes in life insurance policies and accidental death policies. They work with over 70 insurance companies to make sure you are getting the best life insurance to leave your family with a little something after you’re gone. Your family will thank you for doing so.

They work with you to find your specific needs and find plans that fit your circumstances. They work to understand your situation to serve you and your family better. You always know that you’re getting the best policies when you work with Tulsa Insurance Guy.

Thank you for reading our article. If it helped you, check out more here.

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Oklahoma Winter Storms Ahead:
Are You Ready?

We admit it: As insurance pros, our picture of winter isn’t exactly cozy. Oklahoma Winter Storms means traffic snarls, hillsides turning to sheets of ice, and cars sliding around like hockey pucks. Cold temperatures can cause pipes to burst, frost swells and other damage. Heating your home with fireplaces and holiday lighting can increase the risk of fire.

A picture-perfect winter requires a few precautions

Here are a few of our top tips to help reduce weather-related hassles this winter.

Winter-proof your car with good snow tires or chains, new wiper blades, antifreeze, and emergency road supplies.

Keep your attic cool to help prevent ice dams. Insulate the attic floor and make sure it is well-ventilated.

Do not overload circuits with holiday decorations.

When Oklahoma winter storms hit, be smart

If you do not have to drive, stay put. If you must drive, make sure you’ve winterized your car and have a full tank of gas.

When the air is cold, keep bath and kitchen cabinet doors open so warm air can circulate around pipes. If pipes do freeze, let them thaw normally—they’ll be less likely to burst.

And if the power is out, make sure you avoid leaving candles or fires burning unattended. If you use a portable generator, follow the instructions and do not use it indoors.

Know what your insurance covers

We want to help you rest easy.  You will be more relaxed when you know you have prepared your property to lessen the chance of winter storm damage. Your insurance policy covers repairs. Repairs can be anything from adding roofing cement to replacing shingles. I could also be a full rebuild. However, your deductible does apply. Check your policy to see what is covered and to confirm the deductible you have chosen.

If you have any questions at all about your coverage, call Tulsa Insurance Guy at 918-574-6262 and we will help you review your options.

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Although the Tulsa motorcycle insurance policy is very similar to the personal auto policy, you will never find a policy where they are combined. The personal auto policy is for vehicles with at least four wheels, and motorcycles will not qualify – at least not yet. The Tulsa motorcycle Insurance policy is a package deal made up of several different coverages:

• Bodily Injury Liability – This coverage pays for injuries or deaths you cause in an at-fault accident.
• Property Damage Liability – This coverage pays for property damage you cause in an at-fault accident. It will also pay to reimburse the other driver’s rental expenses.
• Passenger Liability – Pays for injuries to your passenger in an at-fault accident.
• Uninsured/Under insured Motorist – Similar to the personal auto policy, this coverage pays for your injuries if you are hit by an uninsured or under-insured motorist.
• Medical Payments – Since this coverage pays for your injuries and your passenger’s injuries, you should buy as much as you can afford. Especially if you don’t have medical insurance. States that don’t have a helmet law normally require riders to carry this coverage if they are going to ride sans helmet.
• Collision – This pays to repair or replace your motorcycle if you are in an at-fault accident subject to the deductible you select.
• Comprehensive – Will pay for damages to your motorcycle for reasons other than a collision. This is the coverage that pays for theft or damages resulting from hitting an animal or vandalism.
• Additional Equipment – Many riders will add additional equipment to their motorcycles such as saddlebags, windshield, custom crash bars, GPS equipment and communications This coverage will pay for this equipment if stolen or damaged in an at-fault accident.

There are many insurance companies offering Tulsa motorcycle insurance and some of them even specialize in this coverage. The motorcyclist should call or visit with an experienced agent or broker to determine which company offers the best value and rates.

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For most people, their home is their most valuable asset and should be insured properly to preserve the value for the life of the home. The homeowner’s insurance policy plays an important part in making certain that you have the funds needed to make repairs to your home or contents when the worst happens. The policy is typically issued as a packaged product and can be customized to meet your needs and budget.

Dwelling Coverage

The dwelling coverage on your Tulsa homeowner’s insurance is what pays when repairs or replacement of your home is needed in the event of a covered peril such as fire, windstorm, hail or lightning strike. Your dwelling limit should equal the replacement cost of the home, which is typically higher than the market value or loan amount. Most insurance companies will require the home to be insured for replacement cost, and your agent will use an approved method to determine this amount. Your lot or land is not part of the equation when determining this limit of coverage.

Other Structures

The other or unattached structure coverage is for paying for repairs or replacement of structures not attached to the dwelling such as Gazebos, workshops or unattached garage.

The limit provided is usually a percentage of the dwelling limit, but can be adjusted up or down with most insurance companies.

Contents Coverage

This coverage on your Tulsa homeowner’s insurance pays to repair or replace your home’s contents in the event of a covered peril. Anything in your home that does not leave a scar when removed is considered the contents. Items that are attached to your home are considered part of the dwelling and are insured under the dwelling coverage. Many policies have sub-limits for items like jewelry, guns and collections so be sure and speak with your agent on how to best cover them. All contents coverage claims are subject to a deductible you select.

Personal Liability

Anyone who owns or rents a home can be held personally responsible if someone is injured while on the property. The Personal Liability coverage is available to pay for legal defense, settlements or a judgment awarded by the court. Most homeowner insurance policies provide limits starting at $100,000 which can be increased to $500,000 or higher depending on the company. In most cases, a deductible is not required for this valuable coverage.

Medical Payments

Your Medical Payments (med-pay) coverage on Tulsa homeowner’s insurance protects you in the event that someone suffers a minor injury on your property. Unlike the Personal Liability coverage, an action does not have to be brought against the homeowner or renter to trigger this coverage. For example, if a visitor were to slip and fall on your property and suffer only a minor injury, your insurer would offer the med-pay coverage for an ER visit or diagnostic tests. You select your med-pay limit which normally starts at $1,000.

Living Expenses

Most homeowner’s policies include coverage for living expenses. A typical example would be when your home is partially damaged by a covered peril, and you are required to live in a hotel or apartment while repairs are being made. This homeowner’s insurance coverage will reimburse you for these additional living expenses up to the limits you select. Many companies provide limits of 10% of the dwelling as part of the policy package.

Optional Coverage

Optional homeowner’s insurance coverages can be added (endorsed) to your policy with an additional premium paid. While many companies offer different optional coverages, the list could include:

• Identity Theft
• Water backup and sump overflow
• Scheduled personal property
• Mold
• Golf cart coverage
• Business property

Since your home is probably your most important asset, it seems logical that you would purchase complete and affordable homeowner’s insurance coverage to protect it. Speak to an experienced agent to get the advice needed to make an informed choice about this important coverage.

The post The Benefit of Homeowner’s Insurance appeared first on Tulsa Insurance Guy - Home | Auto | Business | Life | Independent Agent.

In case the insurance industry isn’t confusing enough with all the flavors and sizes of products, let’s talk a little about the distribution of all those products. Is your insurance guy an agent or a broker? Do they have a local office or are they in a cubicle somewhere on the continent? Are they licensed by your state or not? This may sound trivial but could be important to you, the consumer. There are basically three types of distribution systems that an insurance salesperson will work in:

Direct Writer

The Direct Writer has become more popular over the last decade because they usually offer the lowest priced product. These are insurance salespeople (not always licensed) that offer insurance products directly from the company they work for. GEICO is probably the best known example of a direct writer. Their rates are normally lower because they do not pay a commission to an agent or agency. They typically only sell their branded product but sometimes act as a wholesaler for other non-owned companies. If you are looking for only the cheapest insurance product available, the direct writer will usually make sense. If you are looking for multiple products such as auto insurance, homeowner’s insurance and an umbrella product, they will in most cases not have this available. The agent working for a direct writer is considered to be a captive since the products they represent are controlled by the company they work for. A consumer that prefers risk management services from their agent is typically not a good fit for the direct writer.

Captive or Captured Agency

Probably the most well known type of agent, the captive or captured agent represents only one company. A typical example would be an Allstate or State Farm agent although there are many more. This agent signs an agreement with the company that they will not represent any other insurance companies without written permission provided by the company they represent. Some captured agents do gain access to other companies but only for providing products that their flagship company will not offer. These agents have a local brick and mortar presence in their communities and invest substantial capital to open their office. The captured agent is at somewhat of a disadvantage in the marketplace because they have no control over products or pricing. They typically can offer most any type of product required but in most cases, all customers must fit in a cookie-cutter mold and it’s a take it or leave it conversation. The captured agent is more inclined to offer risk management services since they offer most every type of product needed. The consumer can visit their offices anytime and they are active in their community. The captive agent can access resources provided by their company so that if they

are uncomfortable presenting a certain product, the company will typically send in someone who is very familiar with the product to assist in the presentation. Many of the major carriers have moved toward an emphasis on financial products and expect their agents to become very familiar with these as well.

Broker or Independent Agency

Agents that represent multiple insurance companies are referred to as brokers. These agents are always licensed and may or may not have a brick and mortar office. They are at an advantage since their insurance carriers are actually competing for their business. Typically, a broker will provide a wide range of products with many companies to choose from. This translates into an advantage for their customers. For example, if they have placed your auto insurance business with Company A whom then takes a large increase, they can simply re-write that policy with Company B who is more competitive. The independent agency has much more control over their business compared to the captured agent which can result in better rates and larger product availability for their customers. They are also usually more knowledgeable about products and the marketplace since they are getting information from many different sources instead of just one company. The consumer may benefit greatly by accessing a reputable insurance broker through better pricing, larger product selection and risk management services.

The type of agent a consumer chooses should be based on their current and future needs. It makes much more sense to establish a trusting relationship with an agent or broker that can meet all your insurance needs and can act as a risk manager rather than an order taker.

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The Tulsa Insurance Guy is Ready To Innovate!

Your Local Insurance Solution!

We had a very exciting year at Tulsa Insurance Guy. Many ideas that were discussed were expanded upon and implemented. These concepts that were materialized allowed The Tulsa Insurance Guy team to be more efficient resulting in enhancing our ultimate vision, a Client Centric Atmosphere!

As we approach 2014, Tulsa Insurance Guy, Agency Owner of Tulsa Insurance Guy, has been bouncing around the office with ideas that encompass this philosophy. Soon will be announcing some of the new technologies that Tulsa Insurance Guy plans to execute.

Thank you all for choosing to be a part of our growing family! We look forward to many years of serving you with all of your Tulsa home insurance, roof insurance, Auto insurance and life insurance needs.

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