Quotes on Oklahoma Flood Insurance Better Due to NFIP

In July, Oklahoma had some serious flooding. Especially in the Oklahoma City area. Tulsa and surrounding areas also had some minor flooding, but nothing like Oklahoma City. There was tens of thousands of dollars worth of damage in just a few days. It was very tragic.

A few weeks after this flooding took place, a lady called our office looking for a quote on Oklahoma Flood Insurance. She spoke with one of our agents who was able to put together a quote for her in under ten minutes. Her house had been damaged by the flooding and her Oklahoma home insurance policy did not cover flood damages. When she got the estimate for the repairs, it was going to cost her $35,000 out of her own pocket!

So she started calling agents looking for flood insurance. When our agent gave her the quote from the National Flood Insurance Program, she started to cry. Her premium for a year was only a little over $300. Why had no one bothered to tell her she needed flood insurance or how cheap it really is. Over and over she thanked our agent.

You don’t know how many times clients come into our office in Claremore, Oklahoma and tell us they don’t need flood insurance. They don’t live in a flood zone and the bank doesn’t require that coverage.

So why should they pay the extra money for something they don’t need. First of all, even people who don’t live in a flood zone should have flood insurance. And second, your home owner’s policy will not cover flooding. It’s a small price to pay to prevent paying for large flood damages out of your own pocket!

Changes are coming to Oklahoma Home Insurance

Change is the one thing we can always count on. Whether it’s the weather, economy or the political party in charge, we have to live with change and navigate the changes the best we can.

Certainly with the devastating wind and hail storms Oklahoma and the Midwest have suffered this year, we can be looking for changes in home insurance premiums, coverage, and deductibles in the coming months.

Most of the agencies that write Oklahoma property insurance, whether home or commercial property, have paid out on average $1.15 for every $1.00 in premium they have collected over the past 5 years. It doesn’t take a rocket scientist to figure out that companies are not going to continue to lose fifteen cents on every dollar they collect. The estimated damage from the storms that hit the Metro Oklahoma City area in the early summer is in excess of $1,000,000,000. Yes, that is a billion dollars, with a “B”.

So what are some changes that we can expect? The changes will vary company to company, but here are some of the changes currently under consideration by various companies.

The first consideration will be premium increases. We have already seen this happening with a number of companies. We can also expect higher deductibles for wind and hail. A 1% or 2% wind or hail deductible is becoming very common.

What does that mean? For example: if you have a 1% deductible on a $150,000 home, your wind/hail deductible would be $1,500.

I anticipate even more difficulty in getting “replacement cost coverage” on roofs. Certainly if the coverage is offered it will be more expensive. A number of companies are setting stricter and stricter guidelines for roofs to qualify for the coverage.

What can you do to minimize the impact of increase on your budget? Consider increasing your deductible. And make sure you are getting all the discounts you qualify for.

What You Should Know About Oklahoma Life Insurance

Life insurance is a sensitive topic for most, but is important to everyone. Most people that stop by our Claremore office don’t like discussing such a topic with me because they don’t want to talk about death. It is inevitable, so instead of thinking about death I try and tell them to think about taking care of their family that will still be here when they are gone.

Let’s focus on the importance having a life insurance policy. If you suffer a fatal car crash, can your spouse support the family on his or her own? If you were to pass away tomorrow, would the cost of your children’s college be covered, or would they have to sacrifice getting a higher education?

There are several types of Oklahoma life insurance available. One inexpensive way is to purchase term insurance. This allows you to pick the amount of coverage that would be needed and the amount of time it would be needed.

For example a young couple buys a house with a 30-year loan. They should purchase a 30-year term for each of them for the amount of the house. Once you are considered insurable you will have the option to convert your policy to another type at a later time. It is important to get life insurance when you are young and healthy. It is easier and cheaper to get.

Most of the time I do a quote on life insurance that ends up being a lot less than the client had originally thought. Oklahoma Life insurance is a very inexpensive way of protecting what matters most, your family.

Visiting the Claremore Children’s Advocacy Center

The last few years, our office has been making donations to the William W. Barnes Children’s Advocacy Center in Claremore (their office is actually right down the street from us). By combining our 2010 “Just Keep Talking” referral program, our donations have been a big help to the CAC. For every referral that comes into our office, we donate $5 to the Advocacy Center.

So a few days ago, I stopped by the CAC’s new offices, was given a personal tour, and delivered an outstanding donation of $660 to the director, Holly Webb. Notice the hand prints on the wall. These prints were made by children the CAC has been able to help. Each child that comes through their office has the choice of putting their hand print on the walls of the Advocacy Center. The walls were covered in hand prints!

Holly and the other ladies, Bobbie Cary and Jodie Hunt, were so excited about the donation. Since they are a non-profit, their office runs on donations and volunteers. Otherwise, they would not be able to help the children of Rogers County like they do now. Thank you ladies for all you do for the children who can’t help themselves!

The Hotel won against the Tornado

At RCI Insurance, we do more than just the usual Oklahoma auto and home insurance. Our main area of expertise is hotel insurance. And not just in Oklahoma, but all over the United States. Most of our hotel clients are in the five state area, Oklahoma, Kansas, Missouri, Texas, and Arkansas. In talking about interested claims, one of our hotel agents was telling me a crazy story about one of his clients.

Back in July of last year, Texas experienced some nasty weather. This included tornadoes and strong winds. And in the town of Childress, was no exception.

There’s a Days Inn hotel that we insure in Childress. It is located next to a Mexican restaurant. And beside that restaurant is another hotel, which we do NOT insure.

(If you look closely, in the background you can see the crane working on the hotel 2 doors down & the Mexican restaurant next door)

Anyway, that particular night there was a tornado that blew through town. Our clients’ hotel was damaged, the Mexican restaurant was not, and the other hotel was damaged… missing a roof in fact. That roof ended up in Days Inn’s indoor swimming pool.

Hot tub anyone? No? How about a little swim???

We even provide the outside tree for free!

The tornado that came through town that night, took the roof off the hotel two doors down, blew the roof over the Mexican Restaurant next door, and threw it into the indoor swimming pool at the Days Inn. At our hotel! It didn’t even have a reservation! The restaurant was not damaged from the flying roof at all. Totally missed it! And our hotel had more roof damage and part of the awning blown away. What a mess.

It’s crazy what tornadoes can do. Sometimes your property gets damaged & sometimes it gets skipped.

Do You Hate Insurance?

Everyone hates insurance in OK, because it costs too much and they never have to use it. I hear this at least once a day. People call and say they have had insurance for ten years, never had to use it, and want to know why their rates have increased. Insurance works due to the law of large numbers. Meaning, companies insure millions of people rather than a couple hundred. This allows for there to be lots of losses, which there are, and still allow the companies to come out profitable, sometimes. The insurance companies do not always make money, especially here in Oklahoma. One of the companies I insure with paid out three dollars for every dollar they brought in. In case you haven’t realized there are a lot of storms in our state. And roofs are very expensive. All it takes is one person in a neighborhood getting a roof replaced, and the next thing I know everyone in that neighborhood I insure calls and says “John down the road got a new roof so I think I need a new roof”. If we turn it in as a claim and the adjustor comes out and finds no damage and there in no money paid, it is still a claim on your insurance. Therefore, you want to be sure that you do have damage before calling your agent and turning in a claim.

Nearly every person I speak with wants the cheapest, highest deductible coverage with no extras. This is not the response I hear once there has been a claim. Everyone then thinks they had all the extras, rental car, towing, roadside assistance, and low deductibles. I offer this coverage up front, and you can add them at a later point. You cannot add them after an accident. Apparently a lot of people don’t know this. I cannot count the number of times someone calls from the side of the road and wants to know if they have comp and collision, and I say no and they want to add it after hitting the deer in the road. Insurance does not work that way.

Okay, time for the bad news. Rates are increasing statewide. The good news is RCI is an independent agency and we represent several companies. So you have an option when your rate increases. You are not stuck with only having an agent that can offer one company. I am sure several clients will be upset and shop around for cheaper coverage, but you will find all companies are having rate increases. The difference here is I am telling you about it. Other companies will spend a billion dollars advertising how low their rates are when in fact, the larger companies that you see on TV are having the highest increases. Do not lower your coverage to get cheaper rates! You will have an accident or claim on your home, and you will be upset you lowered your coverage to save the $50. My job is to make sure you and your family are protected in case of an accident. The Oklahoma insurance I provide you with will protect you, and provide you with security.

Let’s buy a boat!!!

In Oklahoma the weather is hot to say the least. And it’s only going to get hotter. So what do we do to cool off… find the nearest body of water and camp out! For some people it’s the swimming pool, and for others it’s the closest lake such as Oologah Lake, Grand Lake, Skiatook Lake, just to name a few. What’s the best way to enjoy your time at the lake? Why on a boat of course! And now that boat season is officially in full swing, it’s necessary to know the rules of the water and make sure you and your boating buddies are safe.

First, it’s always wise to realize that the heat will zap you of all your energy if you’re out in it for too long. No matter how in shape you think you are. And second, be cautious of dehydration. You don’t want to get heat exhaustion. That can kill a good time real fast. Be sure to drink lots of water before you go out on the water, during the boating trip, and after your water activities. When you’re dehydrated, you get worn out and this can hinder your reaction in case of a boating accident.

****Remember—It only takes one mistake to ruin your day of boating. Pay attention, slow down a little, and wear a life jacket!****

Minimize Risk of Boating Accidents
*Wear PFDs (Life Jackets) – They’re very uncomfortable but it could save your life. Just make sure the life jacket fits the person wearing it.

*Avoid Alcohol – Boating and Alcohol often run hand in hand. But be smart, have a few people who aren’t drinking drive the boat.

****Remember—It only takes one mistake to ruin your day of boating. Pay attention, slow down a little, and wear a life jacket!****

Are You in Danger of having the Wrong Car Insurance? Part 2

How Much Coverage Do You Need?

The truth is, you can buy a lot of Oklahoma auto insurance, or a little. Most states, more than 40, require you to have auto insurance. But they don’t require you to have much.

 In most states with mandatory auto insurance laws, the minimum liability provides 1) $25,000 for any person involved in an accident with you, 2) a maximum of $50,000 for all persons in the accident, and 3) $25,000 for damage to the other vehicle(s) involved. That’s not much. In fact, it’s next to nothing. How far do you think $25,000 will go if you total somebody’s $90,000 Jaguar? Not far enough! The rest of the cost comes directly out of your pocket!

Notice that mandatory auto insurance laws do not require you to buy coverage for your own car. Or coverage for your injuries. Or coverage if you are hit by someone who doesn’t have insurance. If you buy just the minimum coverage required by law, you are leaving your assets at considerable risk. Your car, obviously. And your home if you are at fault in an accident that causes serious injuries to the other parties, not to mention medical injuries to family and friends in your car when you have an accident with an uninsured motorist.

Other Coverage to Consider

Some things not ordinarily covered in your Oklahoma auto policy that you may want to add include:

 Towing coverage that pays the costs if your car needs to be transported after an accident. If you’re a member of an auto club, you don’t need this coverage.
 Rental reimbursement, which pays for a rental car you use while your vehicle is being repaired.
 Umbrella coverage, which picks up the tab when you run out of coverage in your basic policy.
 Special coverage if you drive a company car. Some policies don’t cover family members who drive the company car or accidents that take place when you use the car for pleasure instead of business.
 Special coverage if you use your personal car for business purposes. Does your teenager deliver pizza in your vehicle? You probably aren’t covered.

These are just a few of the pitfalls consumers can experience when buying auto insurance.

 The best advice is talk to your insurance agent about what additional coverage you might need. For a free complete report, 11 Ways to Save Money On Your Auto Insurance, call 800-753-5797, or email: info@rci-insurance.com.

RCI Insurance Group is located in Claremore, OK. RCI has dedicated auto insurance specialists to help you design the correct policy for your situation. You may contact us at Phone: (918) 341-6081. Fax: (918) 341-6088. Email: info@rci-insurance.com. Website: www.rci-ins.com

Are You in Danger of having the Wrong Car Insurance? Part 1

Are You and Your Family In Danger Because of the WRONG CAR INSURANCE?
FIND OUT HERE IF YOU HAVE THE RIGHT
– OR WRONG – PROTECTION!
Part 1

Some of the saddest words I ever heard were: “I never thought it would happen to our family!” But bad things do happen to good people. And buying the “wrong” Oklahoma car insurance can put your family at risk. Now is the time to protect yourself – not after you wish you had done it before! Buying car insurance in OK is complicated. You can quickly buy it over the Internet at hundreds of websites, call an 800 number and buy directly from an insurance company, or you can call an insurance agent. Some people think car insurance is a commodity, where the only thing that matters is price. (That’s true – until you have a claim!). But this ‘quick and easy’ insurance shopping can be deceptive. You’re protecting your financial well being…and the choices you make could affect you for the rest of your life.

How Much Will It Cost?
With rising Oklahoma insurance rates, it’s tempting to shop around for the best price. Here are some important facts you should know about the cost of insurance today:
 No auto insurance company – no matter what it says in its ads – offers the lowest price for every driver in every location. They can’t make a profit doing that.
 Prices fluctuate. Sometimes companies ‘buy the market’ with low prices to gain new consumers…then their prices gradually – or not so gradually – sneak up.
 Every company has a slightly different appetite for the risks it wants to take on. Some insurers want only very good drivers who have no tickets and no accidents. Some companies, believe it or not, actually want bad drivers. Find the company that likes insuring motorists with your driving record.
 Sometimes “you get what you pay for.” The cheapest option may not provide you and your family with the best protection.

 The best advice is talk to your insurance agent about what additional coverage you might need. For a free complete report, 11 Ways to Save Money On Your Auto Insurance, call 800-753-5797, or email: info@rci-insurance.com.
RCI Insurance Group is located in Claremore, OK, and has dedicated auto insurance specialists to help you design the correct policy for your situation. You may contact RCI at Phone: (918) 341-6081. Fax: (918) 341-6088. Email: info@rci-insurance.com. Website: www.rci-ins.com

Making an Unhappy Client Happy

Yes, I am one of those millions of people that does damage to my body by tanning every summer. I love it. A few years ago, I found this great tanning salon. Every time I go in there, all the employees are so nice. They have huge smiles on their faces. And they seem to really like being at work. Yesterday I went in for my tanning relaxation time and was standing in line next to another customer. She clearly was very upset. The tanning employee was trying to explain the situation, but this lady was not being helpful or polite at all. I could tell all parties involved were frustrated. This got me thinking. How do you handle an upset client and yet still solve the situation?
It’s always good to remember to not take what the upset client says personally. They are just frustrated and you are there, so you get the brunt of their anger. Whether you deserved it or not. And if you get upset and angry with the client, it just makes it worse. So keep your cool and stay calm.
Another good point to remember is to listen to what the customer is saying. Hear what they are saying, it might be something that can be solved easily. And if it isn’t, let them know what you’ll have to do to make things right with them. Always be upfront and honest with the client, even if you can’t help them at least they will know what’s going on and that the situation is being taken care of. But try to talk positively.
Angry clients and really make for a rough day. And how you handle the problem can make a big difference. Don’t give away your entire store just to make a client shut up. This will only tell the client that when they are rude and hateful, they can receive what they want. Bullies should never be rewarded. If the situation gets out of hand, don’t be afraid to get your supervisor. But try to handle the problem on your own first, and then if you can’t come to a solution ask for help.

You can’t please everyone. Some people you’ll make happy and some will just never be satisfied with anything you do for them. Just try to show respect to all your clients, happy and upset. When you’re happy and polite, it will affect all those around you. It’s hard to stay upset at someone who is polite and smiling!