We hope you and your family are healthy and holding up well through the uncertainty surrounding the coronavirus (COVID-19). While COVID-19 is causing disruption in our communities, we’re committed to making sure that you have the protection and support you need.

Your safety is always our top priority, and we’re here to help:

  • You can easily manage your policy online or our phone lines are open at 1-866-274-8765 – just know that call wait times may be longer than usual.
  • If you’re experiencing financial difficulties due to coronavirus and need assistance, please get in touch.

This is a situation that none of us have been through before. New questions are sure to continue to arise, and we will do our best to help. We’ll continue to monitor and respond to this situation as it evolves, and we will be here for you when you need us.

We wish you and your loved ones well, and we thank you for being a Progressive customer.

A Message from Tyler Asher

Taking care of our customers, employees and agents is a top priority for Safeco. We recognize the uncertainty and financial challenges many of our joint customers are facing as the nation bands together to slow the spread of the coronavirus. To help Safeco customers, we have taken the following actions:

Personal Auto Customer Relief Refund

Fewer drivers are on the road, which means fewer accidents. With this in mind, we are announcing our Personal Auto Customer Relief Refund, which will return approximately $250 million to our Liberty Mutual personal lines and Safeco auto customers. Here’s how it works:

  • Personal auto insurance customers will receive a 15% refund of two months of their annual auto premium as of April 7, 2020, pending regulatory approval.
  • The refunds will begin in April and will be issued either by check or in the manner the customer made their most recent payment.
  • The payments will happen automatically. Customers do not need to call Safeco to receive the refund.

Safeco agent commissions WILL NOT be affected by this 15% customer refund.

Payment Flexibility Options

  • Late fee charges have been automatically stopped and cancellations due to non-payment have been temporarily paused for personal auto and home customers from March 23 through at least May 22, 2020.
  • We continue to work with individual customers to extend payment dates if needed and provide personalized support.

Delivery Coverage Expansion For Auto Policies

  • All personal auto policies have been expanded to cover customers who use their personal vehicles to deliver food and medicine.  Standard Safeco personal auto policies typically exclude such coverage.
  • This additional protection is in effect for all personal auto policies in all states for losses occurring from March 16 to May 22, 2020, and reported by July 1, 2020.

For more information on all of the information above, customers can visit www.Safeco.com/Covid-19.

The well-being and support of our customers, agents and employees remains our primary concern during this critical time. I really appreciate the work you are doing to support our shared customers, and I thank you for your continued partnership.

 

To view this from the original email, go here

I’m pretty confident that if you asked anyone who has ever owned a rental property you would get an overwhelming response that it’s not as lucrative or easy as they thought it would be. In fact, owning a rental property can be a major pain, and end up costing you a ton of money!

I certainly don’t mean to be a “Debbie Downer”, and I know that if it’s done right it can be lucrative, but from an insurance agent’s perspective, I don’t see a lot of people doing it right.

So you’re probably thinking, “Well Chris, you are an insurance agent. What do you know about real estate or rental properties? Why should I take advice from you?”

I’m not a real estate agent, and I don’t own a rental property. However, several of my friends/family/clients/co-workers own rentals, and because I insure a bunch of their properties, I’ve had a first hand account of the process, and I’ve learned what to do, and what not to do.

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I was recently asked this question by one of our Oklahoma Insurance Group clients, and thought I would share the answer here for our readers.

There are a lot of things that go into homeowners and auto insurance rates, one of them being credit. I’ve heard a lot of complaints from people who don’t like the fact that insurance companies use credit in their underwriting.

Some people have absolutely no idea that it’s used in the rate at all.

At the end of the day, there’s not much we can do about it though. Insurance companies have been using credit in their rates for decades, and that’s not likely to change.

By the way, insurance companies don’t pull your credit like a mortgage company or credit card company does. There is no negative impact on your credit as a result of an insurance company looking at it.

When I say “pull” what I mean is that the insurance company is doing what’s called a soft inquiry, which is not the same thing as having your credit pulled (hard inquiry).

When does credit play a role in insurance rates?
It’s important to understand that insurance companies don’t continuously check or monitor your credit. Usually, they only check it when you first get a quote and/or sign up with them in the very beginning.

This means that if your credit score increases (or decreases) your insurance company does not automatically know about it.

So, to my customers question of whether or not his increased credit score will lower his rates, the answer is not automatically.

What has to be done on our side as the agent is contact the carrier the insurance and ask them to do what’s commonly referred to as a “re-score”. This is when the insurance company can re-run the person’s credit (soft inquiry) to see if there is any positive bearing on the rate.

This isn’t something that the insurance company is going to let the agency do every single year, so it’s not worth even asking unless there has been a significant change in your credit score, and only you as the customer would know if that was the case.

If you’d like to get a better handle on your credit rating, it could be helpful to setup credit monitoring. We hope this was helpful! As always, leave us comment below if you have any questions.

Why do my auto insurance rates keep going up even though my car is getting older?  At Oklahoma Insurance Group, many of our clients ask this question so I would like to address it from a couple of angles.

First things first, even though it’s called car/auto insurance, it covers more than just your car. It should technically be called “auto-owners” insurance, similarly to how home insurance is actually called “home owners insurance”.

It’s important to understand that there are a lot of variables that go into insurance premiums, and with auto insurance, it’s no different.

The insurance company is much more concerned with you crashing into someone and causing them (or yourself) bodily harm, or death, than they are about your car. A car is a material possession which can be replaced.

A human life is not.

When is the last time you looked at your auto insurance policy?
If you look at it you’ll notice there are a lot of different coverages on your auto policy.

Bodily injury
Property damage
Un-insured motorist
Under-insured motorist
Medical Payments
Loss of Income
Funeral Expense
Loss of use
Rental Reimbursement

These are all things that you are covered for on your auto policy. How many of them have to do with your car?

None.

How many of them have a price next to them on your policy?

All of them.

Your car isn’t the only thing you’re being charged for on your policy
That’s because auto insurance covers far more important things than your car as mentioned above.

Let me re-phrase that: your car insurance rate isn’t just based on your car.

You’re not the only one…
It’s also important to understand that you are not the only person your insurance company insures. You are one fish in an ocean of other fish, sharks, and sea creatures, all who have different characteristics and risk profiles.

Insurance is all about spreading costs over a large number (risk pool) of people, which each person paying their fare share. That risk pool is constantly changing, and is impacted by a ton of different things, including the overall economic climate.

This means that you are sharing in the cost of millions of other people, many of whom may have poor loss history and/or credit.

That’s what insurance is though — sharing in the cost.

The next time your auto insurance rates go up, take a look at the big picture. Make sure you’re looking at ALL of the coverages, and corresponding rates.

Hope this helps!  If you would like to know more about Car Insurance be sure to visit our page dedicated to it.