3 Tips for Buying Commercial Insurance in Tulsa, OK

Your business is a valuable asset and you need to protect it with the right commercial insurance policy in Tulsa, OK. At American Founders Insurance Group Inc. we have put together some tips to help you do just that. So, if you’re looking to purchase a new commercial insurance policy or revisit and existing one, here are three tips to help you find the right policy and save money while doing it.

1. Compare Several Quotes

Each business is unique and comes with its own set of needs. For this reason, you’ll want to compare several insurance quotes to find the one that closely matches your business protection requirements. Go over each policy in fine detail with an insurance agent to find the right policy and to get the most out of your money.

2. Bundle Your Insurance Policies

Insurance carriers like to reward loyal customers. They do this by offering premium discounts when you bundle all of your insurance policies with them. Consider bundling your auto insurance, life insurance, homeowners insurance and any other policies you have under one carrier to get the maximum discounts. An insurance agent can help you find the carrier that offers the most discounts coupled with the best policies.

3. Work with a Reputable Insurance Agent

Don’t leave the protection of your business to chance. Be sure to work with a trusted, reputable agent serving the Tulsa, OK area to find the right commercial insurance policy for your unique business needs.

To learn more about purchasing a commercial insurance policy, contact the team at American Founders Insurance Group Inc. today. 

Loan Amount VS. Insured Amount: What coverage is needed?

Straight forward home insurance plans and loan contracts are not easy to understand. Examining the contrast of the two makes it easier to choose the right defense.

Loan Amount vs. Insured Amount

Understanding loan amount requires a quick once over on what it means. The term refers to the sum of funds that someone borrows and makes an agreement to pay back in full. The borrowed money often encompasses more than the obtained amount.

Loan fees, closing costs, and additional expenses are quiet cash drains that most do not notice at first glance. The loan amount differs quite a bit from the insured total. Reading and understanding home insurance policies is a priority and the best plan of action for any person with insurance.

Insurance experts serving Tulsa, OK, American Founders Insurance Group Inc. answers questions regarding the topic in clear and concise terms.

Breaking Down the Basics

Always consider the money going towards a home insurance premium versus what the monetary outcome of a claim is.

For example, a claim’s amount is $20,000 while the loan repayment is twice that amount.

Full protection requires gap homeowner insurance to make up the difference in the loan amount and insured total.

The protections, deficits, and loans work the same way whether it is an auto insurance policy or homeowners’ insurance.

Everyone Is Unique

Family budgets decipher what is best in the end. The benefit of securing coverage for the loan amount ensures claims are available in full. This protects both the lender and the borrower.

However, it comes down to the precise amount of coverage each person needs. For example, in Tulsa, OK, American Founders Insurance Group Inc. serves to provide whatever information is pertinent to home insurance. 

Examining existing homeowner policies ensures every year sees a quality result to the policy holder’s bottom line. Contact our office to have your questions answered and to get a quote.