The ABCs of Condo Insurance

Condo insurance sometimes referred to as “walls-in” or “paints-in” insurance, is used to complement your master condo owners association (COA) policy. While the master policy covers the exterior of your dwelling and liabilities occurring on common areas, condo insurance is responsible for the interior. 

Is condo insurance mandatory? While Oklahoma doesn’t require condo owners to purchase condo insurance, this coverage is pivotal in protecting you and your property. Need to learn more about condo insurance? Keep reading.

Areas covered by condo insurance 

When you buy condo insurance from Dobbs & Braddock Inc. of Atlus, OK, it will cover you in the following areas.

Your dwelling interior

Condo insurance covers your building’s interior, including the walls, roofs, floor, and other fixed appliances. While condo insurance doesn’t prevent risks like fire from occurring, it gives peace of mind knowing that you won’t start from scratch when the unthinkable happens.

Loss of use

If a covered event damages your dwelling such that it becomes uninhabitable, you may have to look for temporal shelter. In the process, you will incur additional living expenses that you hadn’t planned for. Thankfully, if you have condo insurance, these expenses are covered until your dwelling undergoes complete repairs. 

Personal liability coverage

If you are legally responsible for bodily injury or property damage on someone else, condo insurance covers the ensuing liabilities, including legal costs. For instance, if someone trips on your stairs and hurts their leg, condo insurance covers their medical expenses. Similarly, condo insurance should cover the property damage if your son hits your neighbor’s window with a ball.

Personal property coverage

Your condo wouldn’t look like a home without assets like furniture, electronics, appliances, and clothing. And since it has cost you thousands of dollars to accumulate your belongings, you need condo insurance to cover you when the worst happens.

Condo insurance compensates you when fire, theft, and other covered perils damage or lead to loss of your assets. This way, you don’t have to start from scratch.

Buy condo insurance today!

Are you shopping or looking to renew your condo insurance in Atlus OK and its environs? Please get in touch with Dobbs & Braddock Inc. for a competitive quote. 

Consequences of Not Buying Health Insurance

Health insurance protects you and your family in the event of an illness or injury needing medical attention. Though not required, those who choose not to have health insurance coverage could face some devastating consequences of their financial future. Medical bills can get costly, and though not expected, an accident in Atlus, OK can cause you to build up tens of thousands of dollars in medical debt. 

For information about health insurance and what can happen if you are not covered, call the experts at Dobbs & Braddock Inc. Their agents can discuss health insurance options and why you should purchase a policy today.

High Healthcare Costs

Without medical insurance, hospital and doctor visits can be expensive. Emergency room care often results in high health care expenses that need to be paid. An accident, broken bone, or diagnosis of a chronic illness could be financially devastating to you and your family. 

High Costs of Medication

Health insurance helps offset the high costs of medication. Those who do not have health insurance may find themselves in a situation where they cannot afford to purchase the medicine they need. Health insurance protects you and ensures your family receives the care and medicine they need. 

Fear of Future Illness or Injury

Some who do not have health insurance live in fear that they or a family member becomes ill or injured and needs medical care. This fear can lead to stress, panic attacks and can wear down your immune system causing the illnesses you fear. 

Loss of Savings

Medical debt can build up, resulting in you needing to pay for it out of your savings. Additionally, having to pay medical debt can prevent you from future savings. 

Those in Atlus, OK without health insurance should call Dobbs & Braddock Inc to discuss coverage options available. 

How Does Life Insurance Work?

Life insurance provides peace of mind, offering your family financial security in the event of your death. Some people choose to purchase term life insurance, while others select permanent life insurance, which can be the most expensive plan available. The best way to choose a life insurance policy in Atlus, OK is to understand how life insurance works. Dobbs & Braddock Inc is ready to help you get the answers you need about selecting a life insurance policy. 

How Does Life Insurance Work?

When you purchase life insurance, as the policyholder, you pay regular premiums to the insurance company. This premium secures your rate and plan. 

Life insurance policies pay out the beneficiary in the event of the policyholder’s death, providing financial support to the family. The money can be used to pay bills, medical expenses, funeral costs, college tuition, and more. 

Getting Help to Purchase Life Insurance

The process of buying a life insurance policy can be confusing. Especially when you encounter terms and information you are unfamiliar with. Because of this, it is best to work with a life insurance agent to discuss your options and help you better understand how life insurance works. 

Should I Purchase Life Insurance?

Even if you are someone of optimal health, purchasing a life insurance policy is a good idea. You never know what might happen, and by buying your policy now, you are preparing for the future. The longer you wait, the higher your premiums will be with each passing year. 

Dobbs & Braddock Inc understands the many questions Atlus, OK residents may have regarding life insurance and how these plans work. So call them today to discuss life insurance options and learn more about the protection and coverage these plans offer. 

Tips to Switch Auto Insurance Providers

If you have been with the same automobile insurance provider for a while, you may be thinking about switching providers. There are a number of reasons why you may consider switching insurance providers, but there are some things you’ll need to keep in mind before switching automobile insurance providers. Dobbs & Braddock Inc has put together a few tips to make the process go smoothly for residents of Atlus, OK.

When to Consider Switching Providers

One of the main reasons you may be considering switching auto insurance providers is because you may get a better deal elsewhere. Some of the other reasons you may want to consider switching insurance providers may include moving to another state where your current insurance provider doesn’t operate, you are no longer qualify for certain discounts offered by your current provider, you’re not happy with the service or you want to bundle all of your insurance with one company. The good news is, you are under no obligation to stay with one provider, even if it’s going to be a while before your current policy expires. However, it is important that you understand how and when to cancel your current insurance.

Request Multiple Quotes

Before changing insurance providers, it is important to compare quotes from multiple auto insurance providers. This may seem like an overwhelming task, but it can help you have a better idea of the services and costs offered by different providers. Before switching, even if it’s to a lower-priced provider, make sure you read the fine print to ensure you are actually getting the best deal for the coverage you want, including all discounts you may qualify for.

Avoid a Lapse in Coverage

It is important that you avoid a lapse in coverage when switching insurance providers. There should be no gap in your coverage; in many situations, this is when unexpected accidents happen, so it’s not a good idea to drive without insurance. Once you have decided on a new auto insurance provider, contact your old provider to officially cancel your policy, do not simply let the policy expire.

Remember to contact your old provider to make sure they received your notification of canceling the policy. As long as you provide them with the proper notice, most insurance providers will allow you to cancel your policy without any problems. However, some providers may charge a cancellation fee, so make sure to ask about this when canceling.

Residents of Atlus, OK that are interested in learning more information about switching auto insurance providers or that want to learn more information about their current policy should contact Dobbs & Braddock Inc.

Why Commercial Insurance is an Asset

If you own a business, one of the most important aspects is to protect your business against financial losses. While to achieve this you can do prudent management and aggressive marketing, commercial insurance from Dobbs & Braddock Inc. can help cushion your business from unforeseen risks that can cost your business significant financial losses. 

If you have been having second thoughts about commercial insurance, here are the benefits you accrue when you invest in commercial insurance. 

Liability protection

Running a business exposes you to numerous liabilities. Your products could cause harm to customers. Injuries could happen within your business premises, and your employees could inflict property damage to other people. Fortunately, if you have commercial insurance, you don’t have to pay third-party claims from your pocket. 

Employee protection

Where would your business be were it not for your employees? In light of this, you need workers’ comp insurance to protect your employees. This coverage pays for your employees’ medical costs, partial loss of income, and funeral expenses following work-related injuries.

Saves you financial losses

Without business insurance you have to pay the below costs from your business savings:

  • Medical costs for employees’ injuries
  • Repairs to buildings after a disaster
  • Payments to third party liability claims

As you can see, the list can go and on. Fortunately, business insurance cushions your business against financial losses that could plunge your business into a halt. 

Protects your assets 

Assets like your building, inventories, furniture, and computer equipment are pivotal for your business operations. Unfortunately, perils like fire, theft, vandalism, hail and other natural calamities can wreak havoc on your assets, rendering your business non-operational. 

Thankfully, if you have business insurance, losses and damages to your business assets are covered against numerous perils. 

Buy commercial insurance today!

Are you ready to get started with commercial insurance? Please contact Dobbs & Braddock Inc. for a competitive quote. Let’s take care of your business insurance needs as you focus on other pressing matters.

4 Popular Myths About Home Insurance

While nearly all homeowners in the Atlus, OK have insured their homes, there are many misconceptions around home insurance. You’ve probably come across numerous information when shopping for your home insurance — both helpful and not so helpful information. But how do you know what’s true? At Dobbs & Braddock Inc, we have broken down four common myths about home insurance to equip you with correct information. 

  • Home insurance is not worth the expense: Do you know that one event is enough to wipe out your entire investment? Why then should you not safeguard your home? If anything damages your home, you will be glad you had insured your home. Otherwise, you will have to finance the repairs or rebuilding from your pocket. 
  • Home insurance only protects your belongings and property: The truth is that home insurance protects more than your belongings and property. For example, it provides liability coverage, including bodily injury and property damage to other people. Besides, it covers additional living expenses when a covered peril destroys your home. 
  • Home insurance isn’t required: While homeowners insurance is not required by law, mortgage lenders require home insurance before advancing the loan. 
  • Home insurance covers everything: While home insurance covers most perils, it has exclusions. Typical home insurance doesn’t cover damage resulting from pest infestation, normal wear and tear, war, and flood damage. Additionally, home insurance provides little protection for high-value items like art, jewelry, and silverware. 

To be on the safe side, talk to your home insurance agent to understand what is covered and not covered to avoid surprises when the unexpected occurs. 

Home insurance in Oklahoma

As you can see, there are many myths surrounding home insurance. However, shopping for one with the help of a professional will help a great bunch. Please contact Dobbs & Braddock Inc for affordable coverage that suits your need. Additionally, we are a call away to help you bust all home insurance myths that come your way.