The answer to this question in the most simplest of terms is Risk. Every renter or property owner has an inherent risk of a liability claim simply because they own or rent property. Yes, your homeowner’s or renter’s policy will provide liability coverage , but the coverage is typically  limited to $300,000 and in many cases, this may fall short of your needs if an action is brought against you.

A Personal  Tulsa Umbrella Policy adds an additional layer of protection on top of all your underlying personal policies. It will provide additional liability coverage for:

• Homeowner’s coverage
• Renter’s coverage
• Personal auto insurance
• Watercraft Insurance
• Motorcycle Insurance
• RV Insurance

Since most personal insurance policies have maximum limits of only $300,000, you are at risk if the claim can’t be settled for the limit in your policy. For example, if you are in an at-fault car accident, it would not be difficult for the injured driver or drivers and passengers to accumulate over $300,000 in injury expenses that you would be held responsible for. Any amount of awarded damages over your liability limit is going to come out of your pocket. Remember, car accidents are not always the result of one car versus another car. Many times they are the result of one car, causing a multi-car pileup or driving through a convenience store. Without a Personal Tulsa Umbrella Policy that would increase your liability limits to a million dollars or more, say goodbye to your investments, savings accounts, and any other assets that are not protected from a lawsuit.

How do I know if I need  Tulsa Umbrella Policy?

The easiest way to determine if you need a Personal Tulsa Umbrella Policy is to add up the value of your assets. Anything over the liability limit of your auto, home, renter’s, boat, motorcycle, and RV insurance policies is at risk of being lost if an action brought against you.

The good news is that most Personal Tulsa Umbrella Policies are very affordable. A typical one million dollar policy can cost as little as $175 per year depending on your situation. Most insurers will offer limits of $1 million to $5 million dollars without many underwriting questions. Call your agent or independent broker and find out how little you’ll pay for so much coverage.

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Thank you!

We at Tulsa Insurance Guy are constantly striving to improve the Client Experience.

Our Mission Statement

“Our commitment to integrity is evident in everything we do. We empower our clients to choose an insurance solution that provides the best protection tailored to their needs. We act as consultants rather than insurance agents and take on the challenges of our clients. We believe that doing the right thing pays off in the long run and have this philosophy to thank for our loyal and growing clientele.”

The basis of Tulsa Insurance Guy’s Philosophy is we understand our clients deserve more from their insurance agency. I believe Jeff Bezos said it best, “We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.”

So everyday as the owner of Tulsa Insurance Guy, I’m inspecting what I expect from my team members. I relentlessly believe my team has to be on board with the philosophy of “clients deserve more”. So it starts with how I treat them. Richard Branson has proven this style of leadership works!

We as leaders of our companies have to be intentional, clear, and provide support. This means working 40 hrs a week, Doesn’t cut it! Our Team Members deserve more. They deserve leadership that paints a vivid picture of small action items clustered into various client experiences. Whether it be on the front end of providing initial consultation, a welcome package of detailing how they can enhance their experience with us, to setting a time frame expectation of an endorsement like adding a vehicle when you are at the tag agency or having the best claims experience. Swapping pain for that sigh of relief you have when you say, “Ah” and then on subconscious level you have this peace knowing with strong conviction that we care as much as you do if not more to help you resolve the situation.

We at Tulsa Insurance Guy breakdown each segment our Clients experience and ask ourselves as a team how we can improve our Clients Experience.

I know as we continue down this path of “Kaizen”, continuous improvement, we will achieve what I believe Taiichi Ohno envisioned for Toyota:

“Why not make the work easier and more interesting so that people do not have to sweat? The Toyota style is not create results by working hard. It is a system that says there is no limit to people’s creativity. People don’t go to Toyota to “work” they go to Toyota to “think.’ ”

So let me end by saying, Thank you for allowing us to listen, learn and create action items to improve your experience at Tulsa Insurance Guy, Your Local Insurance Solution!

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Wikipedia provides a great a detail explanation on telematics. Find below excerpt on this topic:

Telematics are an interdisciplinary field encompassing telecommunications, vehicular technologies, road transportation, road safety, electrical engineering (sensors, instrumentation, wireless communications, etc.), computer science (multimedia, Internet, etc.). Hence the application of telematics is with any of the following:

Lexus Gen V navigation system

• The technology of sending, receiving and storing information via telecommunication devices in conjunction with affecting control on remote objects.
• The integrated use of telecommunications and informatics, for application in vehicles and with control of vehicles on the move.
• Telematics includes but is not limited to GPS technology integrated with computers and mobile communications technology in automotive navigation systems.
• Most narrowly, the term has evolved to refer to the use of such systems within road vehicles, in which case the term vehicle telematics may be used.

Find more information: http://en.wikipedia.org/wiki/Telematics

According to Lexis Nexis during the first quarter of 2014, they commissioned an independent firm to conduct two studies. The first was a study of 2,000 insured consumer drivers, ages 21-74, who were the policy decision makers for their household. The results of the study were compared to similar research LexisNexis had conducted in 2010 and 2013. The second was a study of 409 small fleet managers who were policy decision makers coordinating fleets of 2 to 20 vehicles.

For further reading and info graphic to better depict their study click here.

Lexis Nexis help insurers assess their risk and streamline the underwriting process in 99% of all U.S. auto insurance claims and more than 90% of all homeowner claims. LexisNexis C.L.U.E.® Auto, the industry standard loss underwriting database for the U.S. auto insurance market, represents a 99.6% industry contribution.

To learn more about Tulsa Insurance Guy Click Here.

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