Business Details
48 Years
experience
Trusted Insurance Partner for Financial Institutions
Founded in 1978 by Mike O'Neal and now led by Kevin O'Neal, we have built a 40-year legacy of providing specialized insurance solutions for financial institutions. Our expertise lies in tracking and force-placing insurance, including Collateral Protection Insurance (CPI), Guaranteed Auto Protection (GAP), and Ultimate Loss Insurance (ULI), designed to protect lenders' interests while supporting borrower needs. We combine advanced technology with personalized service, offering customized tracking systems and secure access to manage collateral risks effectively.Our commitment to Oklahoma's lending community is demonstrated through our service to over 40% of the state's financial institutions, where we prioritize face-to-face relationships alongside digital innovation. We focus on reducing impairment risks, improving fee income opportunities, and delivering tailored coverage that aligns with each client's unique portfolio requirements. Our team's deep understanding of lending dynamics enables us to provide solutions that protect assets while fostering growth for our partners.
Services
Collateral Protection Insurance
Guaranteed Auto Protection
Ultimate Loss Insurance
Force Placed Hazard Insurance
Mortgage Impairment Insurance
Details
- Year established: 1978
Highlights and features
- We have 40 years of specialized experience in financial institution insurance solutions
- We serve over 40% of Oklahoma's lending institutions
- Our customized tracking systems adapt to each lender's specific portfolio needs
- We combine secure technology platforms with personal relationship management
- Our team includes industry veterans with multi-generational leadership continuity
Services
Collateral Protection Insurance
Collateral Protection Insurance (CPI) provides force-placed physical damage coverage for consumer and commercial loans. This protection ensures both lenders and borrowers are covered up to the loan balance when borrowers lack adequate insurance. Our program includes automated tracking, customer service support, and customizable premium structures to meet different lending needs.
Guaranteed Auto Protection
GAP coverage eliminates loan balances remaining after total loss or unrecovered theft. Our program features $1,000 replacement benefits, NADA valuations, and integrated product selling options. The voluntary purchase model creates fee income opportunities while protecting both borrowers and lenders from financial exposure.
Ultimate Loss Insurance
Ultimate Loss Insurance (ULI) protects lenders against uninsured losses on repossessed collateral. This single-interest insurance covers physical damage, skip losses, and repossession expenses. Customizable liability limits and waiver of subrogation provisions make this solution adaptable to various lending portfolios and risk management strategies.
Force Placed Hazard Insurance
Our force-placed hazard insurance protects real estate collateral for residential and commercial loans. Available through outsourced management or lender-administered online systems, this coverage extends to occupied or vacant properties including foreclosed assets with customizable program parameters for different lending operations.
Mortgage Impairment Insurance
Mortgage impairment insurance covers financial losses from loan defaults related to property damage. This specialized coverage protects lenders' interests in real estate portfolios, including second/third mortgages and lines of credit. Our blanket coverage options eliminate tracking requirements while maintaining comprehensive protection for diverse lending portfolios.
People
Mike O'Neal
Founder
Mike O'Neal established Courtesy Insurance Agency in 1978, creating a foundation for specialized insurance solutions that continue to serve Oklahoma's financial institutions with innovative risk management approaches.
Kevin O'Neal
President
Kevin O'Neal leads the agency with multi-generational expertise, continuing his father's legacy while expanding technology-driven solutions that enhance protection for modern lending institutions.
Questions
What insurance products do you offer for financial institutions?
We provide Collateral Protection Insurance (CPI), Guaranteed Auto Protection (GAP), Ultimate Loss Insurance (ULI), force-placed hazard/flood insurance, and mortgage impairment coverage tailored to lenders' needs.
How do you help lenders manage insurance tracking?
We offer both outsourced tracking services and secure online systems for lenders to manage insurance tracking internally with customized solutions for each institution.
What sets your GAP coverage apart from competitors?
Our GAP program includes $1,000 replacement benefits, free NADA valuations, and integrated menu selling options for additional products like extended warranties.
Do you serve lenders outside Oklahoma?
While we primarily serve Oklahoma institutions, our scalable solutions can be customized for lenders in other regions through our secure online platform.
How can lenders file insurance claims with your agency?
Borrowers and lenders can submit vehicle claims through our dedicated portal, while real estate claims require direct contact with our claims department via phone.
