When you choose Lynnae Insurance Group for your Renters insurance in Oklahoma City, you get the personalized service of an agent right here in your local area, with all the conveniences of an online company! With benefits such as ANPAC’s online account access, CA$HBACK from ANPAC, Common Cause of Loss Deductible, it’s not hard to see why thousands of Oklahoman families trust with Lynnae Insurance Group and ANPAC with their Oklahoma Renters insurance.
Have questions about your homeowners insurance?
Great! We have answers
What is covered on a home typical policy?
ANPAC’s Silver, Gold, and Platinum homeowners insurance policy will cover almost everything that might happen to your property with a few common exceptions. From fire to break-ins to wind and tornadoes, we can give you the coverage you need. For a full list of coverages, please contact your agent today!
What is not covered on a typical home policy
As with most Oklahoma City homeowners insurance policies, there are a few exceptions to the automatically covered perils. These may include flood, earthquake, water backup, and mold are not automatically covered. At Lynnae Insurance Group we can add these coverages onto your account as needed.
Homeowners Insurance Policy Coverage
Thankfully, there are only two main types of Oklahoma homeowners insurance policies on the market today – Named Peril, and All Peril. They come in different names but the main difference is what perils (cause of damage) are covered. Some policies, which are sometimes called “Named Peril” or “Basic coverage”, list all perils that are covered (fire, wind, theft, ect.). “All Peril”, or sometimes called “Comprehensive”, covers all perils except a few excluded causes. In a nut shell – Named Peril policies state what they will cover, All Peril policies state what they will not cover. (*Disclaimer – This is for informational purposes only and may change from company to company. To find out what policy you have specifically, simply ask your agent – but at least now you know the question to ask!)
What is the difference between Full Replacement and ACV?
The short answer is just one word – Depreciation. Now the long answer – At the time of a claim, Full replacement coverage will give you the value of the item lost, without deduction for depreciation. For instance, if your roof is 10 years old, Full Replacement coverage will give you the value to fully replace the roof. Actual Cash Value on the other hand only gives you the actual value of the item at the time of loss(similar to how your car is treated after an accident). In the 10 year old roof example, your claim payout will be much lower due to the current age of the roof. If you would like more information on this topic, please check out this video, or better yet give us a call at 217-8851.
What deductible options are available?
ANPAC has many different deductible options to choose from for your Oklahoma homeowners insurance. We are one of the few companies in Oklahoma still offering a flat $1,000 deductible. If you are interested in a higher deductible, we have options of $2,000, $3,000, $5,000, and $10,000. Along with these options, you may also elect to add a separate 1% deductible for wind and hail.
Is my wedding ring covered?
On a typical Oklahoma homeowners insurance policy, jewelry has a limited amount of coverage. In most cases, this limit is $1,000 per item, and $2,500 total. To increase this amount you may have the option to add a “Rider” or “Schedule”, to your policy to cover any higher value items. Besides higher coverage amounts, Riders offer broader coverage than a typical homeowners insurance policy, including coverage for a diamond falling out, losing a ring in the lake, or simply mysterious disappearance. ANPAC is now offering a great new inexpensive endorsement that covers any item up to $5,000 without the need to list items or get them appraised. For more information, or to add this endorsement, please call us at 217-8851.
Does my insurance change if I get a pool or trampoline?
Getting a pool or trampoline does not automatically change your Oklahoma insurance coverage or price, but it is highly recommended that we review your coverage to make sure you are properly covered in the event of an accident. A typical homeowners insurance policy has liability coverage up to $300,000 or $500,000. With today’s litigious society, this may not be enough to cover an accident in the pool or trampoline. With many clients, we recommend obtaining an Umbrella policy to increase your liability coverage by $1,000,000. This will help protect the assets in the event of a lawsuit for a vary minimal cost.
How do I set up my new policy?
The easy answer – just call to let us know, we will take care of the rest.
Oh, you wanted the long answer…here goes – Once you decide to transfer your insurance to Lynnae Insurance Agency, give us a call to let us know. At that point we may order a few reports (such as a roof report, or home inspection), and contact your mortgage company to work out the escrow details. Once we get these tasks done, we will then set up a time to meet to sign the paperwork. From here, we will handle the cancellation of your existing insurance (if you would like us to), and send all appropriate information to your mortgage company. If an escrow account has been set up with your mortgage (which is the case 90% of the time) we will send the bill to your mortgage company to be paid. As you can see, the short answer is much easier – just give us the go-ahead and we will take care of everything from there!