Must Have Insurance

Insurance is essential if you want to protect yourself and your family in a world that is unpredictable. Despite the wide variety of insurance policies available, everyone should consider a few core policies. The policies form the foundation of a comprehensive insurance strategy, ensuring that you are fully covered for whatever life may throw at you.

Here are four must-have insurance policies that can provide peace of mind and financial security:

1. Health insurance coverage

Insurance is an essential part of modern society. Medical expenses can pile up quickly when you're sick, having surgery, or just need routine care. Health insurance can protect you from the financial burden of even a minor incident.

Health insurance often offers the following benefits:

Doctor visits

Prescription medications
Hospital stays
Emergency care

It protects your finances and gives you access to quality care if you need it. It is essential to have this type of insurance, regardless of whether it is provided by an employer, the government, or a private policy.

2. Coverage for life insurance

Life insurance is important for anyone with dependents who earns a living. A life insurance policy protects your family from financial hardship if you pass away untimely. The following types of exposure can be funded by a life insurance policies:

Funeral expenses
Outstanding debts (such as a mortgage or car loan)
Future expenses, like children's education
Keeping your family's expenses in check

There are two main types of life insurance: term and whole. A term life insurance policy provides coverage for a set period, while a whole life insurance policy provides coverage over the course of one's life. You should choose the right type of insurance in accordance with your needs and financial goals.

3. Renter's or homeowner's insurance

Renters and owners alike should protect their property and possessions. The homeowner's insurance policy covers your home and possessions in case of fire, theft, and natural disasters. This insurance not only covers liability, but also protects your property if someone gets injured there.

A renter's insurance policy is just as important for those who rent. The landlord's insurance covers the building itself, while your renters' insurance covers your personal belongings and liability.

Both policies typically offer:

Coverage for your damaged property.
Coverage if you're held accountable for someone else's injury or property damage.
Coverage for additional living expenses you may incur in the event your residence becomes unlivable for a covered claim

4. Auto insurance

Drivers must have auto insurance not just because it's a legal requirement in most places, but also because it protects them in case of an accident. Auto insurance provides coverage for damages both property and bodily injury you are legal liable for in event you are at fault an auto accident. However, it may also provide additional coverage if you elect to add:

Expenses related to medical treatment for you and your passengers
Vehicle collision coverage to cover your car in event of a motor vehicle accident.
Coverage for non-collision incidents, such as theft, fire, and weather damage.

Uninsured or Underinsured Motorist coverage to provide bodily injury coverage in event the other driver is at fault and that driver did not have insurance or not sufficient insurance to cover your bodily injuries.

Many carriers also offer rental car reimbursement and/or roadside assistance for an insured to add.

The four insurance policies of health, life, homeowners and renters, and auto are an important part of a sound financial safety net. Each covers a particular aspect of your life, taking care of both everyday needs and unforeseen events. These policies will protect you and your loved ones in the future, enabling you to face the future with confidence.

Like each individual and family is different, each policy type is different among themselves. Carriers will not offer all the same coverages and even different coverages at times such as not all automobile insurance carriers offer rental car reimbursement or roadside assistance. Plus, each individual and family have their own specific needs. Coverages availability varies among carriers and products.

Please note that the information provided in this article is intended for general informational purposes only and may not apply to your specific situation. Insurance laws and regulations can vary significantly from state to state, and it’s crucial to understand the specific requirements and coverages that apply to your location. We strongly recommend consulting with a licensed insurance agent in your state to discuss your unique needs and ensure you have the appropriate coverage for your circumstances.

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How Much Does Business Insurance Cost in Oklahoma ?

By Steven Conway • June 11, 2025

If you own a business in Oklahoma—whether it's a coffee shop in Norman, a contractor in Moore, or a bakery in Edmond—you’ve probably asked yourself, “How much should I be paying for insurance?” It’s a smart question. Business insurance isn’t just a legal box to check. It’s about protecting your dream, your income, and the people who help make it happen every day. While our focus is on serving Oklahoma businesses, it’s worth noting that Conway Insurance is also licensed in Texas. So if you have operations across state lines or are expanding, we’ve got you covered there too. In this guide, we’ll break down what business insurance really costs, why it varies so much, and how you can keep premiums manageable without leaving yourself exposed. No industry speak. Just straight answers, examples from right here in our state, and a few tips from folks who’ve seen a thing or two. 🧐 The Real-World Cost of Business Insurance in Oklahoma. Let’s start with the numbers. These aren’t just for OKC and Tulsa—we’re talking about the real-world costs faced by business owners from Altus to Miami, from Woodward to Idabel, and everywhere in between. On average, here's what small business owners in Oklahoma are paying each month: - General Liability : $50–$125 - Commercial Property : $75–$250 - Workers’ Compensation (per employee): $90–$300 - Commercial Auto : $100–$175 per vehicle - Business Owner’s Policy (BOP) : $100–$275 💡 Pro Tip: Bundling policies into a BOP can save you up to 25%—and keep the paperwork to a minimum. Last month, we worked with a contractor in Moore who was paying over $6,000 annually through a direct carrier. After reviewing their setup, we bundled their coverage through two A-rated carriers and dropped their premium to $4,700—plus added inland marine coverage they didn’t even know they needed. Their response? “Why didn’t someone show me this sooner?” 🧐 Why Insurance Costs Vary from Business to Business? We get this a lot: “Why is my friend’s insurance cheaper than mine?” And the answer is, it depends. Insurance is priced based on risk—and risk looks different depending on what you do, where you are, and how much coverage you need. Your industry is a major factor. A retail store has fewer hazards than a construction company. Your location matters too. Businesses in hail-prone or high-crime ZIP codes will generally pay more. Then there’s your payroll and revenue. Higher revenue typically means more exposure, and more employees means a bigger workers’ comp bill. Your claims history also plays a role. If you’ve had several recent claims, your rate will reflect that. But if you’ve been claim-free, you may qualify for credits or preferred pricing. 💰 How to Pay Less Without Cutting Coverage? Let’s be honest: Nobody loves paying for insurance. But there are ways to get the coverage you need at a price that doesn’t sting. a. Bundle everything you can. That’s why BOPs exist—to combine liability and property into one, simplified (and discounted) plan. b. Ask about discounts. You’d be surprised how many carriers offer savings for things like monitored alarms, e-signatures, or safety training. c. Control your losses. Prevent claims by maintaining safe workplaces, training staff, and checking equipment regularly. Carriers reward businesses that take risk seriously. d. Review your policy every year. Businesses evolve. So should your coverage. We’ve seen folks still paying premiums based on outdated revenue or property values. e. Work with an independent agent . Captive agents are tied to one brand. We’re not. At Conway Insurance , we look at the whole market to find the best fit you — not just the “in-house” option. 💬 A client in Yukon put it best: “I thought I was covered until y’all pointed out two gaps in my old policy. Now I’ve got better protection and I’m paying less. It was a no-brainer.” 🌪️ Business Insurance Isn’t Just a “Nice to Have”. We live in Tornado Alley. That means storms, hail, wind, and unpredictable weather are just part of life. But there are other risks too— data breaches , customer injuries, and even broken HVAC systems during a heatwave. One uninsured event can wipe out everything you’ve worked for. Good business insurance gives you staying power. Whether you're a bakery in Edmond, a tech startup in OKC, or a landscaping crew in Mustang, the right policy keeps your business running when the unexpected happens. We’re not here to scare you—we’re here to help you sleep better at night. 🗓️ Ready to Talk Through Your Options? We’re Conway Insurance , and we’ve helped thousands of Oklahoma business owners—and many in Texas too—get protected without overpaying. We’ll ask the right questions, explain the fine print, and recommend coverage that makes sense—not just for today, but for where you’re headed. 📞 Call us at 405-733-2886 📅 Or schedule your appointment online Let’s make insurance one less thing you have to stress about. Email us directly at steven@conwayinsuranceok.com if you'd rather reach out by message than schedule a call. ✅ Wrapping It Up. Every business is different. But one thing’s true across the board: the right insurance can make or break your future. Don’t guess. Don’t settle. Let’s find the coverage that fits—without the fluff, the hard sell, or the hidden fees. We’re Conway Insurance —based right here in Oklahoma and proudly licensed to serve Texas too. We’ve got your back.