Home Insurance Tulsa | taking specialty risks
All right, is a Wednesday evening as 12 hours. Oh, let’s see. 13 hours before, 12 and a half hours before. No, 14 and a half hours before I meet Marshall Morris over at thrive at uh, you know, tall, goofy looking guy, a six for good basketball player, drinks, Jameson Irish whiskey. Anyway at Nice Guy, good looking guy. I mean, I don’t go that way, but if I did martial be the guy, good looking guy. Anyway, um, tonight’s podcast is brought to you by Midlands Insurance Company. Midlands allows us to write a lot of different companies, a lot of different kinds of businesses. One of them being the cannabis business here in Oklahoma and they’ve kind of become a big deal because we have growers and dispensaries in town and Home Insurance Tulsa, um, so we have people that want insurance. Now the problem is it’s not easy to under write as if not easy to get the policy. You don’t know how long they’re going to be in business. You don’t know a lot about the people. It’s better than them selling or growing the cannabis at their home because their home insurance, Tulsa wouldn’t be covering it.
It is so against the federal law. And so we want to make sure that these people are doing it the right way and the right way seems to be to rent a warehouse. Now, even the people who own the warehouse or having a hard time getting insurance because no one will, no one will carry it, no one will carry the coverage and give them the coverage that they need. So we’re having to work a additionally hard that takes us away from a lot of other business that we could be doing. So we are charging a an application fee of $1,000 for these people because it takes all this time and if we don’t get it, then we’ve wasted all this time that we could be doing other things and making other money. So we charge an application fee, $1,000 it felt like your home insurance Tulsa, where it’s going to be, you know, you just run up some quotes and get them the insurance coverage that they need.
It’s actually, it’s actually a lot more than that. It’s a lot more involved. And these are all cash businesses. They can’t bank their money because the banks or national banks of course, thanks to James Madison, the founder of the central bank, central banking. And quite frankly, what we’ve done with these big national banks is we’ve made them too big to fail. And there is almost no risk investing in them because they’ll probably know up and up, but the, they won’t fail because the government won’t let them. And that’s what happened in the financial crisis in 2008, 2009, a too big to fail. And we thought if these banks failed, then, Home Insurance Tulsa, there would be a run on the bank and be panned delirium and we don’t want pain delirium. Um, and that’s why, but, you know, the smaller banks didn’t need the money because they didn’t give themselves in that kind of trouble.
So anyway, that’s neither here nor there. And I don’t even know here nor there means by neither one of them. But, um, Home Insurance Tulsa, the small bank is the way to go. You know, we have a small regional here and Oklahoma. We Have Bank of Oklahoma, which is actually a pretty big bank. We have Arvest bank, but you know, these regional banks and they, they’ll do big stupid things. They don’t need to keep getting bailed out for stuff. So if you go to them for your mortgage, for your home insurance to salsa, you know you’re going to deal with the good people, your neighbor, you’re a scout leader, you know the different people in your neighborhood and they look at you and assess your risk and they don’t take stupid risks. So they don’t put the bank out there and, and get to bank and from, which is what it should be.
So I liked the smaller banks, but regardless, you can’t put your cannabis money in the bank. So you have to invest it somewhere. And Home Insurance Tulsa, you could, you could buy stocks so that you could buy things, whether you go buy real estate with it, you can buy gold and put it on your mattress. You can do a lot, a lot of things. But one of the things you can do is put in the bank. So now these places become vulnerable to, um, robbers and thieves who might want to come and steal on the cash because cash is cash and it doesn’t, you know, there’s no way to trace it. So if someone keeps all their cash in their home insurance, Tulsa and Robert Breaks in and steals all their money, you know, it’s not insured your insured up to some cash, but not a lot because while there’d be a, an incentive for people to lie, if they had a home claim and say that they had $10,000 cash in there, so it’s not being covered, uh, it’s, uh, it’s, um, Home Insurance Tulsa, there’s limits, some limits on that.
And also that’s why some insurance companies don’t want to look at the warehouses and get the, ensure the warehouses. They don’t want some embracing him. These places just feel in the weed or the, or the cash. But as your, as your independent insurance agency, Oklahoma’s premier, independent insurance agency, we can find carriers to ensure these and we can take care of that need for you. It’s going to be a little more, quite frankly, you know these that we’re looking at ensuring these warehouses were insured by state farm, Rough State Department as a one state farm does. They’ll write home, his friends toss all day long, but they’re not going to write a small warehouse with a $100,000 of hydroponics and a weed growing in there. There’s, they assume there’s an excess liability and excess exposure and there may be, and I mean maybe may not be, but if you’re growing weed in your home insurance, Tulsa home, you could get in trouble.
Or if by doing that you caused the fire or other problems in your home insurance, US policy’s not going to cover it. Now that we’re not even talking about the people who are growing the pot and the companies to do it, I mean it built a marijuana companies to grow the weed and then sell it to the dispensary’s or maybe they have their own dispensary’s which would cut out, you know, that’s one less middle man and you can think would be a better pricing know, listen, this will hand at work. But anyway, to ensure though it we have to go with a completely different company, which is okay. Um, and they will insure cannabis, you know, from production all the way to distribution. But they have a problem too. It’s warehouse and warehouse is the, that’s the problem. It’s the cog in the wheel. And thank God we are a independent, it’s your independent, we are the premier independent insurance agency in Tulsa and we can help people by giving them the coverage that they need with a company that has the appetite for that not going to be changed.
They’re currently paying about $1,100 a year for each 4,000 square foot warehouse building. But if it’s going to be ended up being quite a bit more than that. So if you are looking for, if you’re in the market for insurance, whether it’s to grow or sell cannabis, we can help you. If it’s for auto insurance or home, we can help infants for motorcycle, ATV toys or boats where your company. So basically we are your one stop shop for all insurance needs. If you are in the need for a life insurance disability, longterm care we can do, we can get that for you too. So why go to a captive that is going to try to fit a square peg and round hole and force you to get what they have. Come to an independent insurance agency that knows what you need and we’ll work hard to earn your business with white glove treatment and that the podcast one 70 until next time. This is Mark Morley at ensure you Oklahoma’s signing off.