Top Rated Insurance Agency In Norman OK
At Tatum Insurance in Oklahoma, we are an independent agency. We work for you and not any carrier. Whether you need auto, home, business, or life insurance, we’ve got you covered. With over 60 years of combined experience, our goal is to find you the best policy with the right coverage. Sometimes the unknown can be scary. You can’t see the future, and unfortunately, accidents and unplanned events occur. That’s why having an insurance package that covers you and your family and provides financial protection is essential.
Why Choose Tatum Insurance Agency
We known there are many Norman insurance companies to choose from. Here are some reasons you should choose Tatum Insurance LLC as your independent insurance experts.
- Offers some of the best coverage for an affordable price by utilizing numerous insurance carriers
- The #1 choice by many in Norman
- Trust Choice certified
- We are Oklahoma locals offering a top rated service for you and your family
At Tatum, our personalized approach and genuine care for our customers set us apart. We listen to your wants, needs, and desires and then use that information to create a custom policy for you. We will work to find you the best price and protection for you and the ones you care about. To learn more about the insurance policies we offer, click any of the links below. We look forward to working with you!
For most people, their home, apartment, or condominium is their most valuable asset. Protecting it with the right insurance policy should be a priority for any homeowner. Any damage to your house would be a tragedy, but knowing you are covered can allow you to sleep soundly at night. At Tatum, we will work to ensure you have the coverage you need at the price you want.
Many people wonder why they need home insurance. It’s simple. Homeowners insurance protects you financially if an unforeseen affair occurs like fire, theft, vandalism, or some other event that is covered by your policy. Also, if someone is injured while at your residence and decides to take you to court, many policies will cover this. There are a variety of coverage options:
- Dwelling protection (i.e. the structure of the actual house)
- Other structures (i.e. Buildings separate from the house like tool sheds or detached garages)
- Personal Property (i.e. Personal items like furniture, appliances, and clothing. However, not all issues are covered, so please check while purchasing your policy.
- Loss of Use (i.e. If your home is destroyed and uninhabitable, the cost of additional living expenses is covered)
The cost of homeowners insurance is dependent on the specific policy options that you choose. As a general rule of thumb, the higher the deductible is, the lower your premium price will be. This is because part of the loss payment is shifted to you. Fill out a free quote above to see what the coverage you need will cost.
Purchasing condo insurance for your condominium is important for financial protection. The way insurance for your condo can be somewhat confusing. Many people think because they have insurance with their association already, they don’t need any more insurance. This isn’t necessarily true.
Most association insurance policies will not cover certain things in and around your condo like theft, water damage, or someone hurting themselves at your place of residence. Depending on the state you live in, condo insurance specifications can change.
RV Insurance/Mobile Home Insurance
RV/mobile homes may be less expensive than traditional stationary homes, but they are still highly valuable assets that need to be protected under insurance coverage. Whereas with a standard home you are always covered for the surrounding property, with mobile insurance you are often only covered for the mobile home and the assets contained inside.
Insurance for a mobile home includes many of the same coverages as a stationary home such as:
- Personal liability coverage
- Medical coverage
- Wind, hail, falling objects, theft, vandalism, and fire
Since the home is mobile, hazards that arise from being on someone else’s property are picked up by the insurance. Attached structures such as decks, storage sheds, and garages can also be inserted into your policy.
In Oklahoma, if a manufactured home is purchased in a mobile home park or the home is moved into a mobile home park, an Additional Policy Holder coverage needs to be acquired which adds the park’s owner as a policy holder because they own the property and need to be protected as well.
While you are healthy and employed, you don’t have to worry about taking care of your loved ones. However, the future is unknown. With a life policy from Tatum, you can safeguard your family’s future when you can’t be there to take care of them.
Some of the most common types are the following:
- Term Life: Term life insurance was created to provide financial protection for a specified period. Depending on the coverage period you choose, the premium payment amount stays the same. Following a period, the policy may give you continued coverage, but at a much higher premium pay rate.
- Universal Life: Universal life insurance is a permanent insurance policy that provides lifetime coverage. These plans are known for being flexible and allow you to increase or decrease your premium payment or coverage amounts during your life.
- Whole Life: Similar to universal life, whole life insurance is a permanent policy covers you your whole life, although they usually have higher premium payments. Whole life has a cash value, unlike universal.
Protect the ones you love.
Get the car insurance coverage you need at the best price. That’s all you really want as a driver. A unique and personalized auto insurance policy can help protect you and your vehicle if it is damaged by accident, theft, or other some other covered event.
Tatum offers professional recommendations to our customers regarding their vehicle’s insurance.
The most basic and minimum auto insurance coverage that Oklahoma law requires are liability limits of at least:
- $25,000 because of bodily injury to or death of one (1) person in any (1) accident
- $50,000 because of bodily injury to or death of two (2) or more persons in a one (1) accident, subject to the $25,000 per person limit
- $25,000 because of injury to or destruction of property of others in an accident
Oklahoma law requires that you provide documentary proof of Financial Responsibility in the following circumstances:
- At the request of a law enforcement officer at the time of an accident or traffic stop
- When registering a vehicle or renewing registration
- When obtaining a driver’s license
If you’re discovered driving without a policy in Oklahoma, you could face the following penalties:
- A fine of up to $250
- 30 days in jail
- Driver’s license suspension
- Vehicle registration suspension
The Department of Public Safety requires that insurance companies notify them if the person’s insurance is canceled within 180 days from the beginning date of a new policy. This is so the Financial Responsibility requirement is met. If you cancel your policy, the Department of Public Safety will then contact you (the owner of the plan) at your address on file for proof of insurance. You’ll have 30 days to contact the DPS and verify you have valid insurance coverage.
Classic Car Insurance
Classic auto insurance conditions differ from standard vehicle coverage. It is not just a typical vehicle that depreciates over time; it is a collector’s item. Furthermore, an Agreed Value policy – also known as a Stated Value policy – sets an appraised value for your collectible car and must be determined and agreed upon by both parties. In case of a disaster, the insurance agency will indemnify the full agreed upon value of the classic car.
When purchasing antique car insurance, an insurer will often base your policy on yearly miles that are put on the vehicle. Other factors that can be imputed in your policy are if the car is kept locked away in a garage or if the vehicle is brought to car shows for display.
The surprising facts are that classic car insurance offers you all the compensational benefits without the deductible and often at only about half the premium one would pay for a daily driver vehicle.
The feeling of being out on the open road on your bike is second to none. To ensure the freedom you receive from your motorcycle lasts, protection is mandatory. Oklahoma is no different than any other state in that a bare minimum set of conditions are required to ride on a two-wheel vehicle. Here are the minimum motorcycle liability insurance requirements:
- $25,000 – injury or death of one person.
- $50,000 – injury or death of two or more persons.
- $25,000 – for property damage.
However, don’t think you must restrict yourself to the minimum requirements. Here, at Tatum Insurance, we offer full-coverage across the wide spectrum of calamities that can occur to you and your motorcycle. Thus, giving a rider like yourself secure peace of mind. What you’ll also get with full-coverage is:
- Collision: In the event of an accident, your motorcycle will be covered for repairs upon payment of the deductible.
- Comprehensive: In the event your motorcycle is stolen or damaged by something other than a crash, your bike will be covered for damages upon payment of the deductible.
Here are the penalties you could run into for not carrying insurance:
- A fine up to $250.
- Possible jail sentence of up to 30 days.
- The suspension of your license and registration.
Motorsport and ATV Insurance
Outdoor motorsport vehicles such as ATVs, golf carts, dirt bikes, snowmobiles, and the like, are getting to be increasingly popular with adventurous types and particularly in the seasonal months that these machines were made for. However, keep in mind that separate coverage for these fun vehicles is required outside of your regular car or homeowners insurance.
Tatum Insurance can offer all the full-coverage needs for your all-terrain and motorsport vehicles. This includes:
- Comprehensive – pays for your vehicle if it is damaged by any event outside of a collision.
- Collision – will pay for physical damage if you happen to hit another ATV or motorsport vehicle, tree, rock, fence post, or another obstacle.
- Bodily injury and property damage liability – this covers bodily harm or property damage caused to persons or property by your vehicle. This will also cover assets up to the limits you choose.
- Uninsured motorist – will cover damages, medical expenses, and lost wages if an accident occurs with an uninsured/underinsured motorist.
Anyone who has the benefit of riding a motorsports vehicle can attest to its joyful spoils, just make sure you are covered in case any unfortunate disaster tries to ruin your outdoors fun.
Home is where you make it and approximately 1/3 of all households in the United States are rented. One thing to remember is that the landlord, or owner of that home, likely has that building insured, but this does not extend to your stuff contained within. Therefore, it becomes your own responsibility to obtain insurance to protect your personal property in the event of a disaster.
Renter’s insurance covers your contents on a replacement cost basis and will replace or reimburse you for their loss or damage. All this with the exception of covering the building you’re renting. These policies have two distinct sections:
- Property coverage: Covers any personal belongings, but does not cover the building you live in. Additionally, this policy may cover living expenses that you may sustain if a disaster hits and displaces you, and will make up for any temporary living expenses such as a hotel.
- Liability: Covers unintended damage to your rental or accidents that may occur at home. Medical liability is a type of liability coverage. Under this umbrella, medical bills are covered for guests that may be injured in your domain and any legal fees that you may incur.
Owning a boat is a wonderful luxury item and means plenty of fun in the sun and beautiful outdoor scenery. While your homeowner’s insurance may cover your boat in some small measure, it is not quite enough and your boat requires its own policy. There are many catastrophes that can occur to your boat such as theft, sinking, storm damage, emergency towing, and collision with another boat or a submerged object.
All boat policies have four typical coverages:
- Property coverage: Which covers physical damages to your boat, motor, trailer, and water sports equipment.
- Personal liability: In the event you cause bodily harm or damage to someone’s else’s property this coverage will help cover it.
- Medical payments coverage: Will pay for any incurred medical expenses if an accident were to cause bodily harm to the inhabitants of your boat or anyone else involved in the incident.
- Uninsured boaters coverage: Will help cover your health expenses if you happen to be involved in an accident with an uninsured boater.
Are you a small, medium, or large business in Oklahoma? At Tatum, we understand the needs of businesses in our community. At our Oklahoma offices, business insurance is one of our specialties. We pride ourselves in finding you the best option for your business with a variety of insurance companies. We will compare rates and protection to get you the best overall value.
Insurance for your company is a necessity and knowing the right policy for your company is important. Our agents will help you determine the plan that is right for you whether it be general liability insurance or a more specialized insurance that covers your industry. Some of the policies we can inform you about are as follows:
- Business owners policy
- Commercial Property
- Commercial Umbrella
- General Liability
- Commercial Auto
- Workers’ Compensation
- Surety Bonds
If you are unfamiliar with general liability, it is an insurance policy that provides coverage to a business for bodily injury, personal injury, and property damage caused by the business’ operations, products, or injury that occurs on the business’ premises.
Protect you and your company with a business insurance policy from Tatum. Check out this article to learn more about business insurance for your organization.
Business Owners Policy
A business owner’s policy (BOP) combines property and general liability coverage for small and medium sized organizations. Usually, companies with revenue exceeding $3 million cannot acquire a policy. The benefit of this policy is that it is less expensive than buying separate policies and you normally get additional coverages. BOPs usually include the following:
- Either standard or special property insurance for buildings and the contents owned by the corporation.
- Business interruption insurance is often included and covers the loss of revenue resulting from catastrophic disasters that disrupt the daily operations of your business
- Liability protection covers your organization’s legal responsibility for any harm or injury that it may have caused someone.
Commercial property insurance protects the buildings and contents of those buildings (i.e. inventory, equipment, etc.) for corporations. For small businesses that have little invested in their location and inventory, this insurance can be unnecessary. If you don’t fall under this classification, you probably need it.
Each policy is different, but they all are categorized by the type of incident leading to a loss, and by what is insured. The standard policy provides $1 million of coverage per claim, however, should you plan on doing business with certain companies, you may need more. A basic package usually covers losses caused by fires or explosions, theft damage from vehicles or airplanes or acts of vandalism.
You may want to insure the following:
- Your business’s physical location(s)
- Manufacturing and processing equipment
- Office equipment
- Exterior signs and any other exterior property
- Accounting records and company documents
Most commercial property insurance policies exclude certain perils and limit some claims. For example, most policies don’t cover floods, earthquakes, boiler problems, utility failures, and breakage of glass unless you specifically ask for it. If you are looking to buy property insurance in Norman, OK, please contact one of our qualified and knowledgeable agents.
Commercial umbrella insurance can provide small, medium, and large businesses with additional liability coverage to help defend them against expensive claims. If your business is sued, your significant assets can be in danger. Your general liability insurance kicks in first, but if the claim exceeds what is covered, commercial umbrella insurance is priceless to have. It will add layers of insurance to help better protect your significant assets.
Different organizations have different risks depending on their industry and nature of work. Please contact a Tatum Insurance agent so we can better understand the needs of your business. When determining if commercial umbrella insurance is right for you, there are a number of things to consider:
- The type of business
- Industry related risks
- The liability coverage you already have in place
- The significant assets you want to protect
Commercial General Liability
Business is a risky game to play. Business general liability coverage protects against many of the risks, whether they are known or unknown. So what exactly does it protect?
It defends you, your business, and its employees from claims involving property damage and bodily injury. This protections includes coverage for out of court settlement, litigations, and judgments awarded by courts. It can also cover things that you may not have thought about as risks. For example, violating someone’s copyright due to advertising can be an unfortunate situation. Liability coverage can, fortunately, protect you from advertising injury.
This insurance is less common than property insurance among small organizations but is often considered more important. The reason for this is that a serious claim could easily wipe you and your business out without the proper protection.
Commercial Auto Insurance
Does your business depend on commercial vehicles in its day to day operations? Protecting your employees and the vehicles they drive with commercial auto insurance is very important. We recommend this coverage even when an owner or employee uses a personal car for work or job-related activities. Although most personal auto insurance policies permit vehicles to be used for work, if there is an accident, the insurer will only defend the owner of the vehicle. They will not protect the business in most cases.
At Tatum Insurance, we provide you with quotes from top reputable insurance carriers. We can find you a cheap commercial car insurance policy that includes:
- Auto liability
- Medical payments
- Full coverage
- Collision coverage
- Uninsured and underinsured motorist coverage
- Coverage for vehicles you borrow or rent
- Coverage for employees using their cars for business
Workers’ Compensation Insurance
Workers’ compensation insurance is necessary for nearly every business with employees. It covers medical care and physical rehabilitation of employees hurt on the job and helps replace lost wages while they are unable to conduct their duties. The requirement for worker’s comp is different per every state, but below are some general guidelines for workers compensation insurance in Oklahoma. To learn more, follow the link here.
All employees need to be covered by workers’ comp whether they are full-time or part-time with a few exceptions:
- An employer with 5 or fewer total employees, all who are related by blood or marriage to the employer, are exempt from the Workers’ Compensation Code by law.
- People that are covered for injuries that occur on the job under the federal law are exempt
- Certain agricultural workers may be exempt
- Real estate brokers that are license and paid via commission can be exempt
- If you provide services managed by the Oklahoma Department of Human Services, you may be exempt
- Like little league? If you are employed by a tax-exempt youth sports league you may be exempt
- If you are a part of a sole proprietorship, partnership, franchise agreement, limited liability company, or corporation you could be exempt
- Do you provide voluntary services, but receives no wages? You could be exempt for this.
- Do you own and operate a truck-tractor?
A surety bond is a legally binding contract designed to ensure that an agreement between two professionals or businesses is met and a third party is brought in to cover the loss in case the conditions of the said contract are left unfulfilled. A principal is the professional or business that purchases the bond and provides a guarantee of their ability to follow through with the obligation. The obligee is the recipient of the obligation. Often, the obligee can be a government agency that uses surety bonds to regulate an industry and protect consumers from a financial loss. A surety is the insurance agency which guarantees the bond and provides the financial guarantee that the principal will fulfill the contractual obligations.
If the principal does not meet the contractual terms, the obligee can then file a claim against the principal. If the claim is found to be valid, the surety can then take steps to reimburse the obligee for their financial loss.
The contractor business is extremely tough and demanding. Contractors build the streets we drive on, the businesses we work in, and the houses we live in and that’s why Tatum Insurance finds it necessary to insure your business so that you can work without the hassles of worrying about disasters that may occur while on the job or even after the task is completed.
Typically, contractor insurance is broken down into two broad categories – general contractors and specialists known as subcontractors (i.e. electricians, plumbers, painters, roofers, etc.). General contractors are not intimately involved with all builds, therefore, they may pay a higher premium for insurance than the subcontractor because they are not in direct control, which in turn, deems them a higher risk.
A contractor should have a bare minimum of insured policies:
- General liability: Provides defensive protection for when on the job or after completed operation of the job.
- Auto insurance: Covers the commercial vehicle(s) used for your business.
- Workers compensation: A form of coverage that provides wage replacement and pay for medical expenses in the event a worker cannot function on the job due to negligence.