What Type of Life Insurance Do You Need?

When you reach out to Alan Farley Insurance LLC about purchasing a life insurance policy, you might have in mind the same type of policy you had while studying in Tulsa, OK, or a policy from a previous employer. However, we’ll ask you a few questions about your coverage needs and suggest the most suitable options. This is because life insurance boasts one of the widest arrays of coverage in the industry.

Common Types of Life Insurance

Life insurance comes in many forms. Typically, you choose between whole life or term life. If you pay the premiums, a term life insurance policy remains in effect for a finite period, for instance, 10 years or 30 years. You can renew it for another term or switch to a whole-life policy at its expiration. A whole-life policy stays in effect until you pass away as long as you keep paying the premiums.
Both policy types allow you to pay the premiums monthly, quarterly, annually, or make a one-time payment. Policies with a one-time premium calculate the price based on the average lifespan. After the first payment, you’ll never have to pay premiums on a policy with a lump sum.

Varieties within Term and Whole

Whether you opt for whole or term, the industry presents many varieties, such as universal life, cash value life, burial, and others. Burial insurance solely covers your funeral expenses, while cash value life pays a death benefit to your named beneficiary and allows you to build a pre-tax savings account throughout your lifetime.

Contact Your Insurance Agent Today

Call or email Alan Farley Insurance LLC today to explore your life insurance options. Ensure the protection of your family, close friends, and beloved charities in Tulsa, OK, in the unfortunate event of your death.

Insurance For an Older Home

Consider the requirements for insuring an older home. The research that you complete will prepare you for your upcoming home purchase. 

Risks Associated with Older Homes

Older homes come with different risks than modern homes. They may often feature a distinct design and be constructed of materials that are not as easy to replace as modern materials.

Some older homes are not well-maintained. They may require complete overhauls before they are deemed habitable. For these reasons, insurance companies typically offer specialized insurance products designated for older homes.

An older home could be located in a historic district or a standard neighborhood. The age of the home will dictate whether older home insurance is needed to cover it. 

Inspection

A home inspection can provide valuable information that will help a potential buyer know about the problems that exist with the home’s construction. The inspection results could influence the amount of older home insurance coverage needed.

It is a good idea to seek an inspection of any older home that you are interested in purchasing. The results of each inspection can help you make an educated decision about purchasing a particular residence.

Research

Once you have chosen one or more older homes to purchase, research various insurance products designed for older homes.

Contact Alan Farley Insurance LLC

Our Alan Farley Insurance LLC agents sell a wide range of home insurance products. Schedule an appointment to meet with one of our friendly representatives in Tulsa, OK. The representative who assists you will outline the home insurance products that may benefit you as a homeowner. 

Why Do You Need Separate Renter’s Insurance Policies for Roommates?

People sharing a place often only seek a single insurance policy. They either think they only need one per dwelling or don’t need more coverage. 

Roommates also figure they can cut costs if they share a policy. Our Alan Farley Insurance, LLC team, serving Tulsa, OK, can explain why this is a "bad" idea. 

Issues Arising With Roommates

No matter how well you think you know a person, there’s always a chance of disputes. If you and your roommates have to make a claim, a shared policy complicates this process. 

One person may end up angry at the other people in the house, too. That’s because one act of negligence, such as leaving a stove on for too long or causing a fire, can ruin more than just property. Friendships are often severed over any shared insurance policies. 

Another issue is that not everyone has the same number of belongings, and not all items are of equal value.

Someone may feel “cheated” when sharing a renter’s insurance policy. It’s difficult to divide the coverage limits in a way all roommates believe is fair. 

Shared Policies are Not Recommended

Renter’s insurance policies are usually one of the least expensive of all types of coverage. The few dollars per month you might save on having your own may not be worth it. 

Besides, having a separate policy helps you maximize its coverage limit. Otherwise, you would have to squabble over how much you are entitled to. 

Do You and Your Roommate a Favor

Don’t make your life any more difficult than it has to be. Calculate how much your belongings are worth. Then, contact an Alan Farley Insurance, LLC agent serving Tulsa, OK. 

Have everyone else living in your place call about having their own policy. Contact us if you have any questions about how much renter’s insurance you need and what it covers.

Umbrella Insurance: For All the Unknowns

One of the main reasons people get insurance is to protect themselves from the unknown. We hope we never have an accident on the roads, and we may not, but we are also mature enough to understand that it is a viable possibility. None of us ever expect to have our house struck by lightning or to become victims of a house fire, but we also know that it can and does happen. That is also why people from in and around Tulsa, OK turn to the professionals at Alan Farley Insurance LLC for insurance and protection from the unknown.

Insurance for Your Insurance?

Remember that feeling of being secure we discussed at the onset? What if there was a way to protect our insurance, too? How much more secure would you feel? With umbrella insurance plans, that is essentially what happens.

We don’t know when that driver is going to swerve into your lane unexpectedly or when the next Oklahoma tornado will take another home (yes, the season is coming), but we can rely on insurance, right? That question is also what umbrella insurance is designed to answer, like insurance – for your insurance.

So when the damages, bills, and expenses are greater than your coverage limits, the umbrella has you covered. That is like insurance for your insurance and insurance for the unknown because the truth is, we never know.

For All Your Umbrella Coverage Solutions

If you live in or around the Tulsa, OK, area and would like to learn more about how umbrella insurance can better protect you and your family, the friendly and professional team at Alan Farley Insurance LLC can help. Contact us to find out more and schedule an appointment today for protection against all of life’s unknowns.

Tips To Keep Your Auto Insurance in Good Standing

There are many strategies to keep your auto insurance in good standing. Review the tips that follow. If you have any questions about your current auto insurance policy, contact an agent who serves Tulsa, OK.

Safety Course

Take a safety course that is designed to improve your driving skills. A safety course will help you become a better defensive driver. The skills you learn may minimize your risk of being involved in a traffic accident. As a result of having a clean driving record, you won’t need to worry about your insurance rate going up.

Careful Driving Patterns

Use careful driving patterns when operating your vehicle. Research roads that you aren’t familiar with. Pay attention to speed limits and caution signs. If you remain vigilant while driving, you may reduce the chance of being in an accident.

Security Upgrades

Seek security upgrades for your vehicle. Alarms, automotive covers, and other safety features will protect your vehicle when it is not occupied. This will lessen your chance of needing to file an insurance claim. As a result, your insurance policy will remain unaffected.

Legal Practices

Report any traffic accidents that you are involved in as soon as possible. Follow all the laws that are mandated in the region you reside in. Adhering to the legalities imposed will prevent any issues with your automotive insurance policy. It will remain in good standing as long as you abide by the laws you must follow.

Reach out to Alan Farley Insurance

Now that you have reviewed some tips to keep your insurance policy in good standing, don’t hesitate to contact one of our agents. An Alan Farley Insurance LLC representative can assist with your insurance needs.

Understanding Life Insurance in Oklahoma: A Comprehensive Guide

At Alan Farley Insurance LLC, we know how important life insurance is for Tulsa, OK residents. It is never too early to start planning, and these policies ensure that your loved ones are taken care of should the unthinkable take place. However, it can be hard to know where to start. That’s where this comprehensive guide comes into play. 

Here are some crucial tips:

Have Your Documentation Ready

Before you can begin to choose a life insurance policy, you need to have all of the necessary documentation on hand. Your birth certificate, social security card, billing and banking statements, current insurance policies and power of attorney paperwork will all need to be presented. Make sure that they are always being stored in a safe place.

Making a Specific Plan

Every client is going to have different wishes for their end-of-life care. That’s why you need to create a plan that is specific to you. What type of care do you plan to receive and who do you plan to have by your side along the way? If you are unable to make your own decisions, who will be making them for you? These are questions that need to be answered.

Consult With Professionals

Regardless of how prepared you may be, there are still questions that need to be answered. That’s where a consultation with experienced life insurance providers will come in handy. You can present all of your concerns and questions in an open forum and receive the answers that you need before proceeding.

Schedule A Consultation Today

Tulsa, OK, residents who are looking to learn more about a potential life insurance policy are urged to contact Alan Farley Insurance LLC as soon as possible. Any questions or concerns that you may have can be addressed in a timely manner so that you are able to find the best policy that meets your needs.

When should you review your home insurance?

Home insurance makes owning a home less of a risk. It covers you from a variety of things, including theft, fire, a lightning strike, and liability. At Alan Farley Insurance LLC in Tulsa, OK, we use our extensive knowledge of insurance to help our customers get the right coverage for their needs. Your home insurance policy needs to be reviewed to make sure it is up-to-date. 

When your insurance is renewed

Most home insurance policies are renewed every year. When the policy renews, an updated copy will be sent to you either as a paper copy or as a digital copy. The front page is called the declaration page, and it is a synopsis of your coverage. You should read it over carefully. Make sure that all the levels of coverage that you have make sense. If your income has risen over the years, and you have never increased your liability, it may be time to consider that. 

When you have made major repairs

If you have made major repairs that have increased your usable square footage, the value of your home may have increased. If you have not informed your insurance company about these repairs, it is something that you should do. 

When you have added a dog to the family

Owning a dog increases your liability risk. When you get a dog, talk to your insurance agent about what breed of dog you have. Some dogs are considered so dangerous that your liability insurance doesn’t cover them. This leaves you at risk.

Consult With Us

Contact the Alan Farley Insurance LLC in Tulsa, OK to get the home insurance that you need.  

Do all people need to get renters insurance for their rental property?

Renting a home can be a good option if you are in the Tulsa, OK area. For those who are in this part of Oklahoma, it is very important to ensure that you have the right insurance. For renters, this will include having a renter’s insurance plan. All people in this part of the state need to have this type of insurance protection for various reasons. 

Receive Support Provided by Coverage

A reason that all people here need to have a renter’s plan is so they can receive the support that is provided by such coverage. A full renter’s insurance plan is going to offer many forms of support, which will include liability coverage and protection for personal assets. This coverage will prove to be very helpful and can offer financial support if you are found liable for an accident or need to replace your assets following theft or another covered loss. 

Meet Lease Obligations

It is also a good option to have renter’s insurance so you can meet any lease obligations. It is common for property owners and lessors to require tenants to have renter’s insurance. Normally, they will ask for evidence of coverage and the beginning of the lease term. Not having this coverage can invalidate a lease or lead to penalization. 

Consult With Us

Renter’s insurance needs to be considered a necessity for anyone who is in the Tulsa, OK area. When you are looking to get this insurance coverage here, you can call our team with Alan Farley Insurance LLC. Our professionals with Alan Farley Insurance LLC know how important this coverage is and they can offer any ongoing guidance that is necessary to build your next plan. This can help ensure you remain covered and in compliance with a lease. 

Add to Your Liability Coverage With an Umbrella Policy

If you need to have more liability coverage, you might not know it. Many people assume that the amount of liability coverage they get in their home and auto insurance policies is enough for them. However, there may be very little of this coverage in your policies. The amount of coverage may not be enough to pay for all the bills associated with a serious accident. To get more liability coverage, there is umbrella insurance. To find out more about it, call us at Alan Farley Insurance LLC in Tulsa, OK.

Home and Auto Liability Coverage

Umbrella insurance is a type of supplemental policy that works along with the home and auto policies that are already in place. It adds more liability coverage to both of them at the same time. This is much less expensive than if you added directly to both your home and auto policies. That can get very costly very quickly, and that doesn’t even have to be much extra coverage. Umbrella policies come with an enormous maximum payout so you can be confident that an accident won’t end up bankrupting you. 

Accidents and Overage

If you have only your home and auto policies and don’t have supplemental liability coverage, a serious accident can easily come with costs that are too high for your insurance to pay. When this happens, you’ll have an overage after insurance has maxed out, and that will be yours to pay. When you have umbrella insurance, it comes in after the first policy has reached maximum payment and then pays whatever is left afterward. This can save you thousands on hospital bills and other costs. 

Get Your Umbrella Policy

To get more liability coverage, umbrella insurance is a smart move. To get started, call us at Alan Farley Insurance LLC in Tulsa, OK. 

   

What type of auto insurance do I need in Oklahoma?

Owning a car in the Tulsa, OK area is a good idea for many people. If you are looking to buy a car when you are here, it would be ideal to also get insurance for it as it is both a requirement and a good investment. There are various factors to understand when trying to assess your auto coverage needs here. 

State Requirements

A factor that you need to think about when you are looking for auto insurance in Oklahoma is the minimum state requirement. This state requires 25/50/25 when it comes to liability insurance. This means you need the minimum standard of $25,000 in liability coverage for bodily injury with a $50,000 cap for each accident. You also need $25,000 for property damage coverage, which will cover damage to a vehicle or other assets impacted by the accident. 

Lender Requirements

You should also spend time considering auto insurance requirements set by your lender. It is very common for auto lenders to require you to carry auto insurance as it protects their collateral. Most of the time, this will mean having a full comprehensive insurance plan in place at all times. This way, you will be able to repay the loan or replace the car if it is stolen or suffers considerable damage. 

Reach Out To Us

Building an auto insurance policy is a big decision for those who are in the Tulsa, OK area. If you are looking for this type of insurance here, you can call our team with Alan Farley Insurance LLC. Our professionals with Alan Farley Insurance LLC will offer the help that you need to create a new plan. This can help ensure you have coverage that meets your needs and offers the right type and level of protection.