We know a thing or two about insurance

Claims is a process. Its rarely a one and done assessment with no other considerations. The adjuster can only see what's on the surface during the first assessment, so when your roofer or mechanic gets further into the job they may find additional damage. If your project has more damage than originally assessed, let your adjuster know. If there is still money available on your policy's limits and the damage fits into the guidelines of your policy, they will pay for the additional damage.

There IS a difference between RCV and ACV policies. In insurance, like everything else in life, you get what you pay for. RCV (Replacement Cost Value) is intended to pay for everything in a claim EXCEPT for the deductible. ACV (Actual Cash Value) takes into consideration the age of the item damaged and reduces the value because you have already used part of its expected lifespan. On ACV policies you are responsible for the deductible and you agree to a lesser settlement because of the age. This is why ACV policies cost so much less than RCV.

Many Claims have Recoverable Depreciation. This means the initial payout is not for the full estimated cost, but for a depreciated amount to get the project started. If your roofer is familiar with insurance claims, they understand that when the whole project is complete the rest of the money will be paid out. You can recover this money by sending final invoices to your adjuster after the work is done. The adjuster will then readjust the claim for any additional damage and send you the remaining balance so you can finish paying for your repairs.

Auto policies are similar for a partial loss. You want to make sure that you are working with a shop that is familiar with Claims. As they find damage, the shop will file for the money to fix the issues. Sometimes a small loss isn't so small once they get the car taken apart. If you have a total loss and don't feel that the settlement is fair, ask your adjuster to reassess for different values, but be sure to back your request with the reasons why their determination was not adequate. Do you have a special edition, or vehicle features that aren't being considered?

Insurance is intended to make you whole after a loss. It's not intended to make money. Yes, you want to be wise about choosing the right resources for restoration. When you choose a repair company based on price alone, there may be other impacts down the road. We recommend you choose a local reputable company. Local so that you can find them again if needed. Reputable so that you know they can address any other concerns that may arise regarding the repair. A professional company will keep copies of your invoices, will make sure the job was done to your satisfaction and will fix any mistakes made by their crews. There's nothing more frustrating than not being able to reach your contact when something goes wrong.

Reach out to your agent for recommendations and claims questions. If we don't know the answers we will find out and get you the right information. If you need a local agent or want to have your policy reviewed to know what coverage you have, let us know. We are happy to help, even if you are with a different company.

Insurance policies have different levels of coverage, so your out-of-pocket expenses will vary when you file a claim with your homeowners insurance policy. That’s why it’s important to know the difference between actual cash value and replacement cost. 

If you have actual cash value (ACV) coverage, your policy will pay the cost to repair or replace your home or personal property based on its value, considering its age and wear and tear (depreciation). ACV coverage pays for your loss but often does not pay enough to fully replace your property or repair the damage. 

If you have replacement cost value (RCV) coverage, your policy will pay the cost to repair or replace your damaged property using materials of a like kind and quality. This is different from your home's market value, which includes the price of land and depends on the real estate market. 

Here’s what the different types of coverage could look like in action.  

Let’s say a family owns a house. The house has $10,000 worth of damage. They have replacement cost value coverage. So, their policy will pay $10,000 to repair the home, minus their deductible. (The deductible is the amount you pay out of your own pocket before your insurance policy kicks in.)  

But if the family had actual cash value coverage, the payout would be different. If the family had $10,000 worth of damage to their home, the insurance company would consider the age and condition of the home when paying out the claim, minus their deductible. This could result in the policy holder paying the majority of damages out of pocket.

If you need help deciding which policy is best for you, contact us for a free quote. We're here to help ensure you have the coverage you need before damages happen!

New and existing homeowners may benefit from having life insurance, but what kind of policy might be best depends on your circumstances. Ultimately, as a homeowner, your decision to get life insurance should be based on your financial objectives.

Here are some things to think about:

• A life insurance policy can provide a source of financial support for your beneficiaries in the event of your death.

• More than one type of life insurance policy might help you meet your goals.

• If you want your policy to serve the goal of paying the mortgage , the amount and duration of your mortgage may be important factors in your choice of one type of life insurance coverage over another.

Using life insurance proceeds as a source of funds

Life insurance can be used to provide support for loved ones in the event of the policyholder’s death. If you’re a homeowner with a mortgage, life insurance can help you ensure that your beneficiaries have the ability to pay off your mortgage if you were to pass away unexpectedly, so your survivors are not left with the burden of mortgage payments.

Unlike traditional mortgage protection insurance, a life insurance policy isn’t restricted to paying only the balance of your mortgage to the lender. In the event of your death, your beneficiaries can choose to use life insurance proceeds for expenses such as:

• A child’s college tuition

• Household bills

• Childcare

• Medical bills
  
  

And, unlike typical mortgage protection insurance, the amount of your life insurance policy’s death benefit does not decline with the balance of a specific mortgage. If you refinance your home, your original life insurance policy is unaffected.

How to choose life insurance coverage as a homeowner

These key steps can help you select a life insurance policy:

• Determine how much coverage you want. This will depend on factors such as your mortgage balance, other debts and your family’s financial goals.

• Think about how long you would want coverage to last.

• Decide how important it is to you to keep your insurance premiums level over time.

What are the major kinds of life insurance policies for homeowners?

There are three categories of life insurance coverage that homeowners may consider.

• A term life insurance policy can provide coverage with a level premium — one that doesn’t change — for the period of time you select as its term. For example, you can match your coverage period to the time left on your mortgage, such as 10, 20 or 30 years. If you pass away during this period, your beneficiaries will receive a death benefit that can be used to help pay off the remaining balance on your mortgage. If you still need coverage after that level premium period, you can keep the policy in force, but costs increase each year as you age.
  
  

• A whole life insurance policy can provide permanent coverage for your entire life1, including the length of your mortgage. In addition to providing a death benefit that can be used to help pay off your mortgage, whole life insurance also includes a cash value  component that can accumulate over time. It can be used to pay for your premiums or other expenses.
  
  

• Universal life insurance is similar to whole life insurance in that it can provide coverage for your entire life2. However, it offers more flexibility in terms of premiums and death benefits, which can give you the ability to adjust your coverage as your needs change.

What is the cost of life insurance for homeowners?

Life insurance premiums can vary widely depending on the type of policy you choose, your age and health, and other factors. It’s important to think about how much you can afford to pay in premiums and to consider a policy that provides the coverage you want at an affordable price.

How speaking with an agent can help you sort out your life insurance options

Selecting the right type of #lifeinsurancepolicy as a homeowner requires careful consideration of your financial situation, goals and loved ones’ needs. 

We're here to help you navigate the options as you choose the best policy for your individual circumstances. 

Call us at 580-355-1144.

Did you know nearly 60% of Americans don't have enough in savings to pay for a $500 medical emergency?

With our Health Saver Fixed Indemnity Plan, you can take control of your healthcare with a nationwide network of over 70,000 physicians and other resources to ensure you have the coverage you need!

BASIC ANNUAL BENEFIT HIGHLIGHTS - Each Person listed on your policy is entitled to:

• 20 Physician Wellness visits

• 6 Chiropractor visits

• 2 Specialist visits

• 2 Emergency Room or Urgent Care visits

• 2 Ambulance Rides

• Basic Prescription coverage for both generic and name brand prescriptions

• Enjoy first dollar coverage for outpatient benefits; no deductibles or copays. 

• Freedom to choose any doctor, specialist or facility; no provider or network restrictions.

Additional Coverage for Critical Illness Covers:

• Stroke

• Coronary Artery Bypass

• Surgery

• Angioplasty

• Cancer (Internal Cancer

• Non-Invasive Carcinoma in Situ

• Heart Attack

• Pacemaker Implant

• End Stage Renal Failure

• Major Organ Transplant

We're here to help you navigate the options as you choose the best #healthinsurance policy for your individual or family circumstances. 

Call us at 580-355-1144 for a free quote today!

• Business liability insurance helps cover the cost of injury and property damage claims against a business.  

• It can help pay for medical care, repairing or replacing damaged property and legal fees for covered claims.

• A liability policy may also cover costs related to errors or misstatements in advertising.

• Additional liability coverage can cover specific risks, such as product failure or data breaches.

Business liability insurance coverage can help you pay legal costs when someone — such as a customer or visitor — is hurt or suffers property damage and blames you and your business. If your company is found to be at fault, your business is legally responsible for the costs.

Let’s say a shopper walks into your store, slips on a rug that’s not secured to the floor properly and hits their head. Your business could be held liable for the person’s medical care, lost income and pain and suffering. A sudden expense like that could devastate a small business.

Your business liability insurance can cover you up to the limit you select and can also help with the cost of your legal defense. If the shopper breaks their glasses or smartphone when they fall, your policy can also help pay to replace the damaged property.

Other kinds of risks may be covered too: for example, damage claims arising from your advertising, like slander, libel and copyright infringement.

Coverage for these risks is known as general liability insurance, and it’s standard on all Farmers® business policies.      

You also may want to consider other types of business liability coverage, depending on the risks specific to your company. Product liability insurance provides coverage on the things you make or sell. Professional liability insurance helps cover damage caused by services you provide. You can also get commercial crime insurance coverage for data breaches that expose your customers’ information. Employee practices liability insurance (EPLI) helps cover employment issues like wrongful termination or harassment.

We're here to help you navigate the options as you choose the best #businessinsurance for your individual circumstances. 

Call us at 580-355-1144.

Homeowners insurance covers certain types of water damage but not others. It depends on the cause.

Generally, if the cause is sudden and accidental — if an appliance or bathroom fixture springs a leak or a storm blows a tree through your roof and rain pours in — the typical homeowners insurance policy covers resulting water damage. 

If the cause is gradual and preventable, including wear and tear or a lack of maintenance, then water damage is generally not covered by home insurance. For example, damage caused by a leak from a rusty old pipe or a roof with missing shingles that’s past its replacement age likely isn’t covered.  

Flooding — when an accumulation of water from the outside flows into a house — and sewer backups are generally not covered by a standard homeowners policy. Separate flood insurance may be available through the National Flood Insurance Program. And sewer backup coverage may also be available.  

If you suffer water damage because of a sudden, unforeseen event, the dwelling coverage in your homeowners policy can help you pay the costs of repairs to the structure of your home — for example, the hardwood floor ruined by a dishwasher leak, or wallboard, floors, and ceilings ruined because a storm toppled a tree through the roof. If your furniture, carpets or other belongings are soaked, the personal property coverage in your homeowners policy can help with repairs or replacement. In both cases, coverage extends up to the limits of your policy. Keep in mind that damage caused by a faulty appliance may be covered, but your home insurance likely won’t cover replacing the appliance itself.  

Regular home maintenance, especially of your plumbing and appliances, can help you prevent the kinds of water damage that your homeowners policy probably doesn’t cover. Check with your agent to be sure you know exactly what’s covered by your policy.

We're here to help you navigate the options as you choose the best #homeownersinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

1 in 2 men and 1 in 3 women will develop cancer in their lifetime.

Since many of the costs associated with the disease are not covered by Medicare or major medical insurance, you could be left with thousands in out-of-pocket expenses.

We’ll help give you peace of mind with a cancer supplement policy that lets you focus on treatment and recovery instead of medical bills.

• Preventative test (up to 12 different tests) such as mammograms, colonoscopies, pap smears, blood tests and skin cancer biopsies.

• Hospital room benefit, ground or air ambulance transportation, inpatient doctor visits, and inpatient prescription drugs

•  Benefits for surgeries like mastectomies, hysterectomies and biopsies

•  Covers treatments like radiation, chemotherapy, hormone or immunotherapy drugs and experimental treatments

•  Travel to treatments at least 100 miles away from home ‐ such as hotel rooms, airfare, car rental and gasoline

•  Breast reconstruction, artificial limbs, wigs and durable medical equipment

• Hospice, home health care and skilled care facility

Call us at 580-355-1144 for more information on #cancerinsurance and a free quote today!

• You choose the beneficiary who receives the life insurance death benefit.

•  You can have multiple beneficiaries receiving equal or varying amounts.

• Naming a beneficiary helps you direct the distribution of payable death benefits.

• You can change the beneficiaries and benefit payout structure at any time. 

When you purchase life insurance, you’re providing a financial benefit to someone if you die. Naming that person as your beneficiary allows you to choose where your policy’s payable death benefits go when you die. When you select a beneficiary for your policy, it becomes part of a binding contract between you and the insurance company, not part of your will and not a decision left up to probate courts or your next of kin. 

You can designate more than one beneficiary, and you can choose how much of the death benefit goes to each person. For example, you could have three beneficiaries, with one receiving 50 percent of the benefit and the other two receiving 25 percent. The number of beneficiaries and the amount allocated to each is totally up to you. 

You can change your beneficiaries at any time during the life of the policy. For instance, you might want to update your beneficiaries if you get married, have a child or make other changes in your life.

We're here to help you navigate the options as you choose the best #lifeinsurancepolicy for your individual circumstances. 

Call us at 580-355-1144.

The answer is no and yes. If your cat tears up your apartment’s wall-to-wall carpeting or your brand new couch, renters insurance typically does not cover the damage. But if your dog bites someone or gnaws the legs off your neighbor’s lawn furniture, your renters insurance might provide coverage. 

The first situation — your pet damages things in your rental unit — would fall under the personal property coverage in your renters insurance policy, and pet damage typically is excluded. This includes both your belongings and property owned by your landlord, like that carpeting. That’s why landlords often require a security deposit if you have a pet, or don’t allow pets at all.  

The second situation — someone else is injured or their property is damaged — typically falls under the liability coverage in your renters policy. Liability coverage is there to help if you’re held responsible for an injury to someone outside your household or for damage to someone else’s property. Typically that includes problems caused by your pet, including dog bites. Some renters insurance policies will help cover costs related to dog bites, but some breeds may be excluded and some companies exclude pets from liability coverage altogether. Renters liability coverage can cover both medical and legal costs, up to the limit you’ve chosen, typically $100,000 to $300,000.  

Even if your renters policy excludes pets, separate pet liability insurance may be available. Know that liability coverage won't cover you if your dog bites you, nor will it cover anyone in your household if your dog bites them. 

We're here to help you navigate the options as you choose the best #rentersinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

You didn’t have an accident. You didn’t file a claim. You didn’t even get a speeding ticket. So why might your car insurance rate increase anyway? To understand rate increases, it’s important to know that premium calculations are based on your risk and the projected cost it would take to repair or replace your car. Anything that impacts these factors — a spike in car theft or accidents in your area, inflation hikes the price of car parts or labor — can explain why rates may increase.

Reason 1: Inflation hits the cost of buying and repairing a car 

Turn on your car radio and it’s all you hear: Prices are up, and COVID-19 is a big reason. Inflation has been rising at a faster rate than at any time in the last 40 years. Supply chain bottlenecks, labor shortages, and pandemic-fueled demand all play a role.

COVID-19 drastically slowed production of microchips and other critical parts necessary to build new cars. Prices for cars and parts soared because of these supply chain delays, and labor shortages pushed up costs further. The strains hit repair shops too, and repair bills have shot up. The result: car prices accelerated even faster than inflation. Between December 2020 and December 2021, new car prices went up almost 12 percent, and prices soared even higher for used cars and trucks — 37 percent, according to a consumer price index report from the Bureau of Labor Statistics. This was the largest 12-month change for cars in the history of the index.

All of this means one thing: as costs for goods go up, so does the cost of repairing and replacing cars if they are damaged, destroyed or stolen.  

Another factor: our cars are equipped with more computers and automated functions than ever before. That makes for a great, and potentially safer, ride — but it also translates to more expensive repairs and replacement, and that trickles down to drivers’ insurance premiums.

Reason 2: More accidents and more injuries

Not only have the cars changed, but we drivers have changed, too. Even if you’re a safe driver, car accidents caused by other drivers on the road continue to climb in frequency, and injuries are more serious, according to the National Highway Transportation and Safety Administration (NHTSA). And that’s pushed the cost of liability insurance up. 

When the pandemic hit, drivers stayed home. But that didn’t last, and when drivers got back in their cars, a surge of dangerous behaviors — impaired driving, speeding, distracted driving, and not wearing seatbelts, among them — led to a big rise in accidents, injuries and fatalities. Traffic deaths rose 12 percent in the first nine months of 2021 (the highest number of any year since 2006), according to NHTSA. 

Reason 3: Rising healthcare costs

Rising healthcare costs aren’t news — but there’s been no sign of a slowdown, and that’s an ongoing factor impacting insurance rates. Almost all states require liability insurance, which may help with costs related to injuries, legal fees, or settlements from lawsuits. When you tally all those factors up — more injuries, bigger hospital bills, more lawsuits — you’ll see the cost of liability insurance rise, too. 

Reason 4: More severe weather due to climate change

Tornadoes, floods, hail, wildfires — these catastrophic events are increasing in intensity, which means more damage and higher insurance costs. Typically, your car’s comprehensive coverage helps with repairs caused by a natural disaster. If your area is becoming more prone to disaster, risk increases and rates can go up. 

Reason 5: Crime is up

During 2021, 932,329 cars, trucks and SUVs were stolen in the United States, according to the National Insurance Crime Bureau (NICB). That’s one vehicle stolen every 34 seconds, every day, for a year — the highest number in a decade. This was a 6% increase over 2020, and a 17% increase since 2019. Catalytic converters — expensive auto parts that are increasingly popular bounty for thieves — were stolen at a rate four times higher than the year prior, and the numbers keep growing. Chances are, if this is happening in your area, it might affect comprehensive coverage rates.  

Looking for ways to save on car insurance?

• Review your insurance policy limits and deductibles. Higher deductibles can mean lower premiums.

• Farmers discounts may be available for bundling Home and Auto policies, setting up auto payment, using our Signal safe-driving app and more. 

• Keep up with regular maintenance that can keep your car in top shape longer and keep it looking new.  

We're here to help you navigate the options as you choose the best #autoinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

If you've been neglecting your dental health due to lack of insurance, we can help! Our affordable plans cover 100% of the cost of over 40 preventive services such as:

•  Cleanings

•  Routine and comprehensive exams

•  Dental X-rays

And it can help pay your bills for services such as:

•  Fillings for cavities

•  Minor oral surgery procedures and sedation

•  Repair or replacement of denture clasp

•  Simple tooth extractions

Plans also provide additional coverage for:

•  Root canals and crowns

•  Artificial teeth used in bridges

•  Partial & full dentures

•  Surgical tooth extractions

We're here to help you navigate the options as you choose the best #dentalinsurance policy for your individual or family circumstances. 

Call us at 580-355-1144 for a free quote today!

• Business income coverage is designed to help keep you in business following a loss or disaster.

• Your coverage helps replace income lost due to a fire, severe weather or other covered event. 

• It can help you meet operating expenses while the company is closed for repairs or rebuilding.

• You can select coverage for periods up to three years.

We all know that accidents, events or disasters can strike at any time and destroy physical property, including your place of business and everything inside. Even when you have enough property coverage, events like fires and severe weather can threaten your company if, for example, your business is closed for months while your property is repaired or rebuilt. How would you pay the bills with no money coming in?

When you have business income coverage, your policy helps replace the income lost while your company is closed. Depending on the amount of coverage you choose, this benefit can help you keep up with payroll, taxes and other operating expenses until you reopen for business.

You select the term of income coverage that works best for your needs. Your policy can cover up to 100 percent of expected income for a period of 12 months, 18 months, or more.

We're here to help you navigate the options as you choose the best #businessinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

Choosing a health plan can be scary. We can help you understand what plan options are available to ensure you get the most out of your health care coverage.

Vision and Dental Options: Low-cost Dental and Vision plans that work with all providers and give flexible options for your family.

Medicare Options: A variety of options including Original Medicare Supplements and Medicare Advantage Programs.

Major Medical (Under 65): We'll walk you through Marketplace product selection and help explain all the options available.

Affordable Family Health Healthcare Indemnity: We have a wide selection of plans with low family premiums that cover wellness visits, emergency visits and more.

Take control of your healthcare with a customized plan that fits your needs, and your budget!

Call us at 580-355-1144 to schedule a free quote today!

#healthcareinsurance  #dentalinsurance   #visioninsurance   #Medicare

You do have the option of carrying storage-only insurance in the off season. This will cover your RV for things like theft, vandalism, falling objects and damage caused by weather or animals. It does not cover damage resulting from collision with another vehicle. There are some risks, however to not having year-round collision coverage — or full coverage, as many people put it.

For example, if you keep your RV at a storage facility — indoor or out — chances are it’s surrounded by other RVs, boats, campers, trucks and so on. There’s a potential for mishaps when you have enormous vehicles and loaded trailers going in and out of parking spots. Another driver could ding your RV and not even realize it — or just drive off. Even if you have enough yard space to park your RV at home, there’s still a risk of another vehicle colliding with it. You might want collision insurance to cover this type of accident.

For most customers, their RV is the largest vehicle purchase they will ever make. They have a lot invested in their home on wheels — and don’t want to put any portion of that investment at risk. Therefore, these customers maintain full coverage at all times.

We're here to help you navigate the options as you choose the best #rvinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

Congratulations on your first motorcycle. The biker customers I work with tell me there’s nothing like the feeling of the open road. I’d argue that it feels even better when you’re found the insurance coverage you want.

Similar to auto insurance, motorcycle insurance includes several types of coverage. First, there’s liability. If you’re at fault in an accident, a liability policy would help cover the cost of damage to the property of others and their bodily injuries. You can also opt for comprehensive coverage, which covers your motorcycle for theft and other things that aren’t your fault, like vandalism, fire and hail damage. In addition, there’s coverage for damage to your motorcycle and injury to yourself caused by someone who doesn’t have sufficient insurance or any at all. It’s what we call uninsured or underinsured motorist coverage.

You can customize your policy with a variety of coverage options. Many of my customers add collision coverage, which covers damage to your own motorcycle if you hit another vehicle or a stationary object like a wall or tree.

Towing and roadside assistance coverage is another popular choice. At Farmers, we also provide bodily injury coverage for your passenger. We can also insure your accessories like saddlebags, safety apparel and custom parts.

We're here to help you navigate the options as you choose the best #motorcycleinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

Life insurance can be a tricky topic. It’s designed to provide financial support for those who depend on you, but permanent life insurance can also be used to access money for big purchases during your lifetime through policy loans.2 Here are answers to some common questions I hear about life insurance.

Do I need life insurance if I already get it through work?

Group policies provided by employers typically offer an affordable and easy way to enroll in life insurance without a medical exam. However, group policies may only pay an amount equal to one or two years of salary or a similarly limited amount, which may or may not be enough to cover your family’s needs.

Additionally, when you change jobs, you may not be able to take your life insurance coverage with you. When you consider that, the older we get, the more difficult and costly it may be to obtain life insurance, having a personal policy to supplement your employer-provided policy can make sense.

How much does life insurance cost?

The cost of life insurance will vary. From a broad perspective, it’s all about risk. The greater your risk of dying, the more you are likely to pay for life insurance. That’s why life insurance is relatively inexpensive to purchase when you are young and healthy. To determine your risk, underwriters look at such things as age, medical history, use of nicotine and alcohol, and any hazardous pastimes, such as skydiving. There are medical conditions that can cause the denial of an application, such as cancer, heart disease or dementia. For most types of coverage, your insurer will likely ask you to take a medical exam.

What you pay for life insurance premiums can also depend on other things such as the type of policy you choose, the coverage amount and the number of years you need to have it in place. If you have riders, or customized provisions, added into your policy, those typically come at an extra cost.

What types of life insurance can I choose from?

First, you should be aware that there are two basic types of life insurance coverage: term and permanent.

Term life insurance has guaranteed level premiums for a fixed period and generally is more affordable than permanent life during that level-premium period. You can generally choose level premiums for 10, 20 or 30 years. If you have young children and your primary concern is making sure there’ll be money to pay for their college educations, depending on their age today you might consider a 10- or 20-year term life insurance policy. If you should die while the policy is in force, the death benefit payout could help your beneficiaries with future expenses such as education costs.

Permanent life insurance plans are designed to provide coverage for your entire life, as long as premiums are paid. In fact, if you buy a child a permanent life policy, you or the child will have the ability to maintain coverage throughout their life, even if they develop health problems, as long as the premium is paid and the policy is kept in force.

There are two main types of permanent life insurance: whole life and universal. Whole life policies offer premiums that don’t rise. Part of their appeal is that they build cash value that you can borrow against.

Universal life offers more flexibility. It allows you to adjust the size of premium payments, death benefits, and the accumulation portion of your policy, within limits set by the policy contract. Some changes may require underwriting approval and additional premiums.

How much life insurance should I consider?

People usually want to make sure the size of the death benefit is large enough to meet the needs of loved ones who depend on them. Some people estimate that number by adding up their long-term financial obligations and subtracting their assets. The amount leftover can offer a rough indication of how much you might want for the death benefit.

You may start with a number in mind -- for example, death benefit equal to 10 times current annual income -- but not all individuals may want that amount of coverage. It all depends on your situation and the needs of your dependents. Your agent can help guide you through the consideration process, asking questions such as how much is left on the mortgage, what are your monthly bills and how much you may want for your surviving spouse to live on.

How are death benefits paid?

The way you structure your death benefit will depend on your family and your goals. One option is a lump-sum payout, but you also can generally have the benefit issued in monthly payments. That way your beneficiary will not receive all the benefit at once. You can even structure your life insurance to pay the death benefit into an individual retirement account (IRA), to provide savings for your spouse’s retirement.

Will my premiums change or increase over time?

It depends on whether you have term or permanent insurance. With term life coverage, your premiums typically start out lower than comparable permanent coverage and stay fixed for the initial 10, 20 or 30 years. If you choose to keep your policy in force past that initial period, the premiums will likely go up. With whole life insurance coverage, though, so long as you don’t let your policy lapse, your premiums are guaranteed not to increase for the rest of the insured’s life. Universal life insurance allows you flexibility in what premiums you pay – if you choose to pay more when you’re younger, you can build up cash value to cover the cost of insurance when you’re older. If you choose not to build up that cash value, then the amount you’ll have to pay to keep the policy in force will increase with age.

Call us at 580-355-1144 for a free #lifeinsurance quote today!

Generally, you're first eligible to sign up for Part A and Part B starting 3 months before you turn 65 and ending 3 months after the month you turn 65. 

Medicare is divided into four parts:

• Medicare Part A is insurance for hospitalization, home or skilled nursing, and hospice.

• Medicare Part B is medical insurance.

• Medicare Part C (Medicare Advantage Plans) is a private insurance option for covering hospital and medical costs.

• Medicare Part D covers prescription medications.

Most seniors pay between $175 and $371 per month depending on what kinds of Medicare coverage they buy. However, seniors who have a low income can qualify for free or reduced-cost Medicare. 

Medicare plan options and their costs can be confusing. That's why our team of dedicated Medicare experts are here to help.

Call us at 580-355-1144 to schedule a free #Medicare insurance quote today!

Whatever your off-road style, Farmers® offers specialized insurance for your vehicle. Covered vehicles include:

·         Snowmobiles

·         Dirt bikes

·         Dune buggies

·         Golf carts

·         3-wheel, 4-wheel and 6-wheel ATVs

Here are some typical risks, and how you can protect yourself with Farmers coverage: 

Dune Buggies: When you take a turn in your dune buggy, it slides into an embankment. You’re okay, but you’ll need to replace a few fiberglass fenders. Collision coverage can help when you damage your own vehicle by colliding with another vehicle or stationary object. You’ll also get coverage for accessories like skid plates and safety apparel like helmets.

Your Snowmobiles are Stolen: Thieves hit the storage facility where you keep your family’s recreational vehicles, and they’ve taken all three snowmobiles. Other than collision coverage can help when your loss is caused by theft, vandalism, hail, fire or animals — in other words, almost anything except for an accident.

You’re Injured While Off-Roading: While creeping down a mountain trail on your ATV, a rocky patch catches you off guard — you dislocate your shoulder when you’re thrown to the ground. Medical payments can help with medical costs when you’re injured in a covered accident.

An Uninsured Driver Damages your Dirt Bike: Your dirt bike is parked at the course when it’s hit and knocked over by a distracted driver who doesn’t have any insurance. Uninsured motorist coverage can help when damages or injuries are caused by someone who isn’t properly insured. 

Extra coverage for extra protection: You can also tailor each Farmers policy to your off-road needs with:

·         Increased liability limits

·         Coverage for towable trailers and sleds

·         Transport trailer coverage

·         Optional Equipment

We're here to help you navigate the options as you choose the best #atvinsurace #motorcycleinsurance #golfcartinsurance #snowmobileinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

Your boat might seem like an oversized toy, but it’s still a motorized vehicle. Some states and many marinas require you to have liability insurance, which helps cover the cost of injury to others and damage to their property if you’re responsible for an accident — on the water or in transit.

Although you might not be required to have it, liability coverage helps you protect yourself from significant financial loss. Depending on the size of your boat’s engine, you might be able to get liability coverage under your home policy. Talk to your agent about your options.

A separate boat policy is necessary if you want coverage for your own boat in the event you are at fault in an accident, and for things outside your control like theft, vandalism and weather damage. If you have a loan on your boat, your lender will probably require you to have this coverage until it’s paid off.

We're often asked about non-powered pleasure craft like canoes and kayaks. In many case these are considered personal property and may be covered under your home or renters policy.

We're here to help you navigate the options as you choose the best #boatinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

Congratulations on your new apartment! Moving can be costly, and although you're still adjusting to your budget to accommodate the rent, getting renters insurance is something you should consider.

We discuss renters insurance with renters — whether you are renting an apartment, a condo, a manufactured home or a house. Sometimes there's an assumption that the landlord's insurance will cover your things, but that typically only provides coverage for the building itself.

Renters insurance, on the other hand, covers your personal belongings if damage results from covered losses like fire, burglary or vandalism. (Subject, of course, to the terms, conditions and provisions of the renters policy.) Often renters don't realize the full extent of their possessions — which could include things like appliances, furniture, electronics, bedding, clothing, art, instruments and so on—or how much of a financial hit it would be if you lost many of these things at once.

The good news is that since you don't obtain coverage for the property itself, the cost of renters' insurance can be fairly affordable.

How much renters insurance coverage should I consider?

To determine the coverage that's right for you, it helps to take an inventory of your possessions. Not incidentally, this also can make things easier if you ever do need to file a claim or verify losses for tax purposes.

You can either create a written inventory or simply walk around your home videotaping your stuff. Either way, it should include a description of the item (especially important in a written inventory), serial number (where applicable), purchase date and the estimated value.

Once you've got the inventory, upload it into at least two different places and check back in occasionally to update it. That way, you won't be stressed about remembering details when you're potentially already stressed out after a loss. It also helps to hold onto receipts for expensive purchases.

You may want to consider if you want to add an endorsement or additional rider for expensive items, such as jewelry or fine art.

We're here to help you navigate the options as you choose the best #rentersinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

However your pets came into your life, they’re members of your family. And you shouldn’t have to make tough choices when veterinary bills start adding up because they get sick or hurt. That’s why Farmers® has been offering pet insurance coverage – through Pets Best — since 2014.

Pet Insurance provided by Pets Best helps provide peace of mind to pet parents by offering plans that reimburse up to 90% of the cost of eligible veterinary treatments 1.  Get flexible accident, illness, and routine care coverage that you can customize to your pet and your budget.

The BestBenefit Accident and Illness is the most popular and comprehensive plan. This customizable plan includes an unlimited annual limit option and can help with unexpected emergencies and illnesses like:

• Accidents including broken bones, lacerations or car accidents.

• Illnesses including cancer, diabetes, allergies, arthritis and skin and ear infections.

• Surgery, prescription medicines, cancer treatments and physical rehabilitation.

The price of a BestBenefit Accident and Illness plan is based on your pet’s age, breed, and location; so you’ll need to get a quote to see the premiums for your pet.

Accident-Only is a budget-friendly plan that can help with costs related to accidents — but doesn’t cover illnesses. Regardless of age or breed, it’s available at a monthly rate of $6 for cats and $9 for dogs.

You can add optional Wellness Routine Care coverage to the BestBenefit Accident and Illness plan. It offers two tiers of coverage to help pay for routine care veterinary visits like annual check-ups, vaccinations and preventative medication for fleas and ticks.

Keep in mind, pet insurance offers coverage for future health issues that may occur — it won’t cover a health issue that has already started. So, it’s best to enroll your puppy or kitten while it’s still young, or your newly adopted pet as soon as possible.

If you need to file a pet health insurance claim, it’s as simple as submitting the receipt from your veterinary visit through the Pets Best website or mobile app — even while you’re still at the veterinarian’s office. You can also use the app to check the status of your claim, access policy details and retrieve your claim history.

Claims are processed quickly and there’s no extra charge for receiving reimbursements by direct deposit.

Call us at 580-355-1144 for more information or start your free #petinsurance quote today by going to: farmers.pet/aschertle

Vacation home insurance coverage helps you protect your second home in many of the same ways your homeowners insurance policy helps you protect your primary residence, but it is purchased as a separate policy. Why? Because homes that are not occupied full-time are considered higher risk — more vulnerable to theft and small problems (like a frozen or broken pipe) causing major damage if no one is home to notice. And if you rent out your second home as a short- or long-term rental, you may want additional coverage. 

Like homeowners insurance, second home insurance policies generally include three types of coverage:

• Dwelling coverage helps pay for repairs if events like a household fire, lightning, storms or high winds damage your home.  

• Personal property coverage helps you replace your furniture, electronics, clothes and other belongings if they’re damaged, destroyed or stolen.

• Personal liability protection helps pay for medical and legal costs if someone is injured or their personal property is damaged and it’s your fault.

Insurance companies often view vacation homes, like vacant homes, as higher risk for certain kinds of damage, because small problems like leaks can do more harm if left untended for long stretches. Vacation homes also tend to be more susceptible to burglary or vandalism when they’re not in use. That can mean a difference in insurance premiums between your home and your vacation home. 

A second-home policy is designed to cover losses caused by specific perils named in the policy, such as fire or water damage. Many homeowners policies for primary residences cover damage unless the cause is specifically excluded. Higher-risk perils like vandalism may need additional coverage in a vacation home policy.

A second or vacation home insurance policy typically does not cover losses if the property is damaged by renters. Renting comes with additional risks, and a rental home needs its own coverage. Coverage varies depending on whether you’re renting your second home out for just a few days at a time or if you have a tenant for many months — say from fall to spring, when you’re not planning to be there. 

Short-term rentals (rented for less than 30 days) may need extra coverage added to your second-home policy; long-term rentals (rented for 30 days or more) may need a separate landlord or business-related policy.

We're here to help you navigate the options as you choose the best #vacationhomeinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

Think of umbrella insurance as an extra layer of liability coverage on top of your existing home and auto insurance — a personal umbrella over you and your assets. It’s additional coverage over your existing insurance limits, and it can be an affordable way to help you protect your home, cars, boats and other possessions if you’re sued. Coverage is available in $1 million increments up to $10 million, depending on your state of residence.

Remember that liability coverage helps you cover your financial responsibility to others if you’re found legally liable for an injury or property damage. For example, if you’re at fault in a car accident, the liability part of your auto insurance can help pay for repairs to the other driver’s vehicle. Liability coverage in your home policy  covers accidents on your property, like a visitor slipping on a loose porch step or a tree in your yard falling on your neighbor’s roof.  

The greater the value of the things you own, the more you have at risk. The liability limits on your auto and home policies may not be enough to cover everything you want to protect if you are sued. If the costs of paying for damage you cause exceed the limit on your home or auto policy, your personal umbrella provides additional coverage, starting at $1 million and rising to the limit you select.

You can set up your umbrella policy to provide liability coverage on possessions other than your home and cars, including watercrafts, ATVs, rental properties and vacation homes. 

We're here to help you navigate the options as you choose the best #umbrellainsurance policy for your individual circumstances. 

Call us at 580-355-1144.

A full coverage car insurance policy typically includes liability, uninsured/underinsured motorist, collision and comprehensive coverages. While many insurers may offer full car insurance coverage options, there’s really no such thing as a full car insurance policy. Instead, full coverage typically combines a few different types of policies, such as:

• Liability coverage, for injuries or damage to other people and their vehicles. This is the coverage that’s usually required by states. 

• Collision coverage, for damage to your own car or to property caused by a crash.  

• Comprehensive coverage, for theft as well as damage caused by vandalism, fire, falling rocks and other non-collision events.

Minimum car insurance coverage is whatever is required under your state’s law. Those requirements can vary a lot, although most states require at least a certain amount of liability coverage. Many drivers opt for more coverage, or, if they’re financing or leasing their car, their lender may require more to protect their asset.  

Not all insurance companies offer the same bundle of coverage options. The most common combination of coverages is liability plus collision and comprehensive coverage. Other potential add-ons include: 

• Uninsured or underinsured motorist coverage, which helps cover costs if you are involved in a crash with a driver who does not have liability insurance (or does not have enough liability insurance to cover your injuries). Some states require this coverage. 

• Medical payments or personal injury protection coverage, which helps pay bills, lost wages and legal fees related to injuries to you and your passengers if you are involved in a crash.  

When shopping for car insurance coverage, it’s important to know what is covered by the policy and what’s not. Even full coverage has some exclusions. For example, some policies may not cover tire damage or losses related to belongings stolen from your car, or may exclude coverage for your vehicle when it is used in a ride-sharing program.  

We're here to help you navigate the options as you choose the best #autoinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

First, a quick overview — workers' compensation insurance may help when an employee is injured on the job or gets a work-related illness. Coverage may include wage benefits for injured employees, and can pay for medical treatment or rehabilitation for eligible employees. This information alone may answer the question for you, but there are other factors you may want to consider.

Does your small business need workers' compensation insurance?

For many business owners, the decision is primarily based on the workers' compensation laws in their state. Workers' compensation insurance is governed by state law, and the laws differ from state to state. Some states don't require coverage for businesses with only a few workers; others do. You can look to your state's government website for specifics, or work with an insurance agent in your area to get more information.

When you start hiring workers, you naturally increase the chance of accidents and injuries happening, which increases your risk for liability if an employee is injured on the job. And if you're in an industry where there's more potential for injury — consider landscaping versus a desk job — it's important to think through what coverage will help keep your business running.

What if you run a business with a lower risk of injury to employees?

Aside from it being the right thing to do, providing a safe workplace for your employees is a legal responsibility for business owners. That may mean providing safety gear, proper tools and equipment, and safety training.

But let's face it: accidents can happen in any business, at any time. If one of your employees suffers an injury on the job, they may be in for a long and expensive recovery. The costs can mount quickly. If you don't have workers' compensation coverage, you and your business could be caught in a difficult position.

We're here to help you navigate the options as you choose the best #businessinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

Generally, yes. Including an advance directive in your estate plan is a personal choice that can allow you to plan and communicate your medical treatment preferences when you are unable to do so on your own.

Here are some things to think about:

• Having an advance directive as part of your estate plan could help both you and others who may be responsible for your medical care during a time of need.

• Advance directives can be made even if you are currently young and healthy.

• There are two common types of advance directives: a living will to express one’s desired course of healthcare treatment and a durable power of attorney for healthcare to empower a trusted individual to carry out those wishes. 

What are some benefits to including an advance directive in your estate plan?

Personal autonomy: If maintaining control over your healthcare decisions is important to you, creating an advance directive allows you to express your preferences in specific medical situations so  your wishes are respected when you are no longer able to communicate them yourself. 

A plan for the unexpected: Life is unpredictable and medical emergencies or accidents can occur unexpectedly. Having an advance directive in place helps prepare you for unforeseen circumstances where you may be unable to communicate your healthcare preferences. Additionally, having a life insurance policy can help with financial support for your loved ones in the event of your untimely passing.

Burden relief: An advance directive relieves your loved ones from the burden of making or executing difficult decisions on your behalf. By clearly expressing your preferences, you spare your family members the potential conflicts and emotional distress that can arise from having to make healthcare choices without your guidance.

How do life insurance and advance directives work together in an estate plan?

Life insurance and advance directives have complementary roles in an effective estate plan.

Life insurance can help provide financial protection for your loved ones in the event of your passing as an insured. When incorporating life insurance into your estate plan, it’s important to designate beneficiaries who will receive the insurance proceeds directly upon your death.

The two common types of advance directives are a living will and a durable power of attorney for healthcare. A living will outlines the type of medical treatments or interventions you want or don’t want in specific situations, such as life support, resuscitation or artificial nutrition. A durable power of attorney for healthcare appoints someone you trust to make healthcare decisions on your behalf when you’re unable to do so.

Can executing an advance directive affect my life insurance policy?

Executing an advance directive generally does not directly affect your life insurance policy. Your life insurance policy is a separate contractual agreement that provides a death benefit to your designated beneficiaries upon your passing while insured, and most states have determined that an advance directive does not alter the payout of the policy benefits.

Agents can make a difference 

Selecting the right type of life insurance policy requires careful consideration of your financial situation, goals and loved ones’ needs. 

We're here to help you navigate the options as you choose the best #lifeinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

Home insurance costs vary by carrier, but there are some common factors that insurers are likely to consider when setting rates, including the type, size and location of your house, the amount of insurance coverage you request and the deductibles you choose.  

Risk is an important factor when insurance companies are setting rates. Regional risks like fire and weather, along with characteristics of your house and where it is, are likely to be part of that calculation. Insurers may also consider your personal finances by looking at your credit history, although some states prohibit the use of your credit rating or have rules about how that information can be used and whether its use needs to be disclosed.  

Among the factors that could affect your home insurance rates:  

Location. Insurers may take into account the potential for severe weather in the area, the rate of burglaries and vandalism and even how close you are to a fire hydrant or a fire station.  

Type of construction. What your house is built of may impact insurance rates. For example, solid masonry construction is considered less vulnerable to fire and wind damage than an all-wood home.  

Age and condition. Older homes may be considered more of a risk for expensive problems and less able to stand up to severe weather. The age and condition of your roof is also a key factor. Some insurers offer discounts for new roofs.  

Types and amount of coverage. As a homeowner, you have some flexibility in choosing how much homeowners coverage you want. Standard policies typically include the cost to rebuild your home if it is damaged or destroyed by events covered by your policy. Also included is coverage for your personal belongings and for your liability in case someone is injured and you are held legally responsible. You can often add coverage for specific risks, like earthquakes or sewer backups, and for valuable possessions. More coverage generally comes at a higher cost.  

Deductibles. Homeowners policies come with deductibles, which is the amount you pay toward a loss before the insurer pays a claim. Typically, your house’s structure and your personal property coverage carry separate deductibles, which you select. Choosing a higher deductible amount can lower the cost of premiums. 

Insurers may also consider other variables that can impact the risk of insuring your home, including your past claims history, features like pools and trampolines, medical costs in your area, and even the type of pet you own. Government regulations in your area may also have an effect.  

Many factors affecting the cost of your policy are out of your control, but keeping up on home maintenance, improving security and fire protection and regularly reviewing your coverage and any discounts your insurer offers may help keep costs down. 

We're here to help you navigate the options as you choose the best #homeownersinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

Answered by a Farmers® agent in Park Ridge, Illinois. He knows car insurance like drummers know how to show off.

First, let me say I can relate to your story. I’m no air drummer, but I’ve had a similar lapse myself. I was backing out of the garage one foggy morning with the radio on, thinking about the upcoming workday. I had performed this simple maneuver every day for years, but this time was different. I went too far and crashed right into the house. You would think an obstacle that size would be easy to see, or that I had paid attention to the backup camera. I felt like an idiot. The brick house was fine, but the car needed a few thousand in repairs. My Farmers auto policy covered it, and a performance like yours can be covered too depending the type of insurance coverage you purchased.

Nearly every state requires auto liability insurance, which covers the cost of damage to others when you’re at fault. This includes bodily injury and damage to physical property, like the bank’s air conditioner. If you had hit another car, that could be covered under an auto liability policy, too.

I’m guessing your own car got banged up as well. I know from my experience what it can cost for a qualified body shop to fix even minor damage. That’s where collision insurance comes in. It can cover the cost to repair or replace your vehicle when you hit another vehicle or a stationary object, like your own home in my case.

Collision coverage isn’t required by law, although banks — like the one you hit — can require it as a condition of obtaining a car loan. Even when you don’t owe anything on your car, this coverage can help you from a painful loss. Imagine having to repair or replace your car after a major accident totally out of pocket. What would a sudden expense like that do to your budget?

We're here to help you navigate the options as you choose the best #autoinsurance policy for your individual circumstances. 

Call us at 580-355-1144.

A builder's risk insurance policy protects your construction project from various types of property damage. Many builder's risk insurance providers cover the direct effects, like damaged construction materials, and indirect effects, like loss of revenue, caused by property-related damages during construction. 

To make the policy work for your business, we offer you a range of options:

• Policies available for remodelers including coverage for existing structure.

• Interest of subcontractors included. No need to list subcontractors as additional named insured.

• Contractors equipment policy available for mobile equipment and tools used by a wide variety of contractors.

Includes coverages for your buildings needs such as:

Theft: Equipment to be installed, building and landscaping materials are covered from the moment they are delivered to your job  site.

Materials in Transit and at Temporary Locations: Protects job materials as well as office and tool trailers. Also includes coverage for  materials that are installed or uninstalled, including landscaping.

Mechanical and Electrical Breakdown: Covers breakdown of plumbing, air conditioning lines and elevators.

Sewers and  Drains: Covers backup of sewers and drains with no deductible.

Because of the flexibility of our Builder's Risk Plan, there is no set size or value limitation. 

We're here to help you navigate the options as you choose the best #buildersriskinsurance policy for your individual circumstances. 

Call us at 580-355-1144.