What is a homeowners insurance policy?
A homeowners policy is a packaged insurance policy providing property and liability coverages tailored to the needs of most home owners. The key coverages included in a homeowners policy include dwelling, other structures, personal property, loss of use, personal liability and medical payments. Additional coverages may be added as endorsements to tailor to the needs of the homeowner. Flood and earthquake coverages are not included on a standard homeowners policy but may be added separately.
Why would you need homeowners insurance in Oklahoma?
Homeowners insurance can help cover an insured homeowner from unexpected and often very expensive damages to their home and their personal property. Accidents happen, so it’s important to be prepared. Homeowners insurance covers more than just the home, including:
- Structures – Your homeowners policy can help pay to repair or rebuild your home if it is damaged or destroyed by fire, tornado, hail, lightning or other disasters listed in your policy. Most policies also cover detached structures such as a fence, garage, tool shed or gazebo.
- Personal belongings – An insured’s furniture, clothes, sports equipment and other personal items can be covered if they are stolen or destroyed by fire, tornado or other insured disasters. The best way to determine if this is enough coverage is to conduct a home inventory. Personal belongings coverage can include items stored off-premises. This means you may be covered anywhere in the world. Expensive items like jewelry, furs, art, collectibles and silverware can be covered, but there are usually dollar limits if they are stolen. To insure these items to their full value, purchase a special personal property endorsement or “floater” and insure the item for its officially appraised value. Trees, plants and shrubs can also be covered under standard homeowners insurance policy. Trees and plants are not covered for disease or if they have been poorly maintained.
- Liability protection and medical expenses – Your homeowners policy can cover you against lawsuits for bodily injury or property damage that you, your family members or even your pets to other people. The liability portion of your policy can help pay for both the cost of defending you in court and any court awards, up to the limit stated in your policy. Your policy can also provide no-fault medical coverage, so if a friend or neighbor is injured in your home, he or she can simply submit medical bills to your insurance company. This way, expenses can be paid without a liability claim being filed against you. It does not, however, pay the medical bills for your own family or your pet.
- Additional living expenses – If you cannot live in your home due to damage from an insured disaster, your homeowners policy can help pay the additional costs of living away from home while your home is being rebuilt. Keep in mind that this coverage has limits and some policies include a time limitation. These limits are separate from the amount available to rebuild or repair your home. Even if you use up this coverage, your insurance company will still pay the full cost of rebuilding your home up to the policy limit.
How can you get the best homeowners insurance and lowest premiums in Oklahoma?
There are many factors that determine an insured’s premium rate. Some factors are out of your control, such as your age, the economy, cost of building materials and all of the insurance claims being filed in the region. However, some of your life decisions can make an impact on your insurance premiums, such as your credit rating, driving record and recent insurance claims. Below are a list of several ways you can get the best rates in Oklahoma:
- Shop multiple insurance carriers at once with an independent insurance agency like Scherer Insurance
- Having good credit history
- Having a good driving record
- No recent insurance claims
- Having a college degree
- Being married
- 3+ years at your residence
- 3+ years at your workplace
- 3+ years with your current insurance carrier
- 3+ years with continuous insurance coverage
- Newer home
- Located near a fire hydrant
- Located near a fire station
- Located within a fire department district
- Located inside city limits
- Located in a low crime ZIP code
- Located in a retirement community
- Located in a gated or limited access community
- Located in a community with manned security
- No swimming pool, but if there is, have a fence and no diving board or slide
- No trampoline, but if there is, have a safety net
- No dogs on the banned breeds list
- No dogs with bite history
- No wood burning stoves
- No fireplace
- Not used for business, farming or ranching
- Companion “bundling” policies such as your home and auto policies with the same insurance carrier
- Opt for a higher deductible
- Owning your home instead of financing
- Paying your premium in full
- Paying via EFT payments as opposed to mailing checks
- Retired or a senior citizen
- Impact-resistant (hail-resistant) roof
- Dead-bolt locks or certain other security measures
- Approved electronic burglar alarms
- Smoke alarms, interior sprinkler systems or other fire prevention systems
- Smoke detectors and carbon monoxide detectors
- Fire extinguisher(s)
- Recent heating, electrical, plumbing or roof updates
- Advance quote or early-signing discount
- and many more
When you request a quote from Scherer Insurance, you can be confident that every possible credit and discount will be requested.
How can you buy homeowners insurance in Oklahoma?
There are three easy ways to get a quote or request more information for homeowners insurance in Oklahoma:
- Call/Text (405) 605-9891
- Email jp@schererinsurance.com
- Fill out the convenient online form below. You will be contacted shortly after it is received.