Category: Insurance

Completing a business expansion project may increase the risk of theft, vandalism, or an accident that results in an injury. Obtaining umbrella insurance coverage will provide the extra protection needed while expansion efforts are underway.

Understanding Umbrella Insurance

Umbrella insurance protects individuals and business owners against legal fees. If an insured person is sued, the umbrella coverage will handle the financial obligations that the defendant is responsible for. Reviewing standard insurance paperwork is in the insured person’s best interest. If the existing coverage does not handle the potential costs that the insured person is faced with, they may decide to add umbrella coverage to their policy.

Assessing Business Expansion Plans

Assess your business expansion plans. Determine the location where the project will take place. Factor in how much materials will cost to complete the expansion. Keep records that outline any potential issues that could be faced during the project. For instance, if the building crew uses dangerous equipment throughout the expansion, you may seek additional insurance coverage to protect against accidental injuries.

Additional Factors to Consider

• Potential for flooding
• Possible electrical problems
• Fire potential
• Inadequate storage for materials and tools

The list above includes some things you should consider throughout the expansion project. If you don’t have adequate protection that would cover your best interests, consider how an umbrella insurance policy could benefit you as a business owner. Umbrella insurance will provide supplemental coverage that will prevent monetary loss if an individual sues you.

Seeking Umbrella Insurance Support

Set aside time to consult with one of our Oliver Insurance agents. An agent who serves the Canby, OR region will recommend umbrella insurance products that will provide the protection needed while your business expansion project is underway.

Structural upgrades are investments that people or weather-related events could damage. The materials used for an upgrade could also cause injury. Assess the upgrades that will be completed at your place of business. 

Upgrade Considerations

All the upgrades conducted at your place of business may not require more commercial insurance coverage. Durable materials installed indoors may not be as likely to become damaged as ones installed outdoors.

Consider the upgrades that will be completed. Track the cost of materials and the design elements that will be used for each commercial improvement.

Record information that outlines where the upgrades will be done. Use your observations and recordings to help you choose which materials to add to your commercial insurance plan.

Risk Factors

Determine the risk factors that may require more insurance coverage. If steps, an elevated walkway, or another item that people will access daily is installed, people could become injured.

Wet surfaces caused by rain or a spill could increase the likelihood of an accident. Any risk factors that you discover should be considered. 

Commercial liability coverage protects against injuries and damage occurring in a business place. The coverage would protect the land that your business is located on. It would also protect the physical building where you operate your business. 

Commercial Insurance Advice

Consult with one of our Canby, OR insurance agents about the structural upgrades you plan to complete. An agent representing the Oliver Insurance Agency will assess your business’s risks. They will advise you on coverage types that will benefit you as a business owner.

Pet owners want the best for our furry friends, especially regarding their health. Pet insurance can be a great way to manage unexpected vet bills, but understanding what is typically included and excluded from coverage is crucial. At Oliver Insurance in Canby, OR, we help pet owners make informed decisions about their pet insurance policies. 

What’s Typically Covered?

Pet insurance often covers a wide range of medical expenses that arise from accidents and illnesses. This usually includes things like diagnostic tests, surgeries, hospitalizations, and prescription medications. Most policies also cover chronic conditions such as diabetes or arthritis, as long as they are not pre-existing conditions. Additionally, emergency care and specialist visits are generally part of the coverage.

Routine Care and Wellness Visits

Some pet insurance policies offer optional wellness plans that cover routine care. This can include vaccinations, annual exams, flea and tick prevention, and dental cleanings. It’s important to note that these wellness plans are often add-ons and not included in the standard accident and illness coverage.

Common Exclusions

While pet insurance can provide extensive coverage, there are certain exclusions to be aware of. Pre-existing conditions, such as health issues that your pet had before the start of the policy, are typically not covered. Also, elective procedures are usually excluded. Behavioral treatments and training costs might also fall outside the scope of standard policies.

Understanding the specifics of what is included and excluded in your pet insurance policy can help you avoid surprises. At Oliver Insurance, we’re here to assist pet owners in Canby, OR, select the right pet coverage. Contact us today to discuss your options and ensure your furry friend gets the best possible care.

Understanding the specific requirements for motorcycle insurance in your state is crucial. It empowers you to make informed decisions about the coverage you need, ensuring you’re fully protected on the road while living around Canby, OR.

Minimum Liability Coverage

Most states in America require motorcycle owners to have liability insurance, at the very least. Each state sets minimum coverage limits, which can significantly vary. For example, one state might require $25,000 per rider for injuries and $50,000 per potential accident, while another might have higher or lower limits. Ensuring you meet these minimum requirements is crucial to staying compliant with state laws and avoiding fines or legal issues.

Additional Required Coverages

Some states mandate additional types of coverage. For instance, many states require uninsured/underinsured coverage to protect you when accidents occur, and the other party does not have sufficient insurance. This coverage handles payments for hospital bills and other damages when the other vehicle is uninsured or underinsured.

Certain states may also require personal injury protection (PIP) or medical payment coverage. These coverages help pay for medical expenses from an accident, regardless of who is at fault. Ask your insurance agency if they cover lost wages and other costs. Every location has different policies.

Optional Coverages

While state requirements dictate the minimum coverage, riders often purchase additional insurance for better protection. Comprehensive and collision coverage, for example, are not typically required by state law but can provide valuable protection for your motorcycle against theft, vandalism, and damage from accidents.

Oliver Insurance Is There For You

Oliver Insurance is here for you when you need insurance information. Our services are available in Canby, OR, and surrounding areas. Call us today.

Marine Equipment & Boat Insurance

Marine equipment is often exposed to the elements regularly. Ensuring your boat and accessories can prevent financial loss associated with stormy weather. Insurance can also protect your marine equipment from theft and vandalism.

Navigational Devices

You may rely upon the use of navigational aids whenever you operate your boat. Navigational devices are prone to becoming damaged unexpectedly. Your boat insurance policy can include coverage for all the equipment you use when navigating a body of water.

Upholstery

Assess the upholstery on your boat. Delicate fabrics are at risk of becoming damaged when you operate your boat. Expensive materials that would be difficult for you to replace should be added to your boat insurance policy.

Take note of the types of furnishings you own. Then, keep records that indicate the fabric type attached to each furnishing.

Flooring

Damage to the flooring on your boat could lead to expensive repairs. If you have difficulty replacing damaged flooring materials, you may want to consider insuring the flooring on your boat.

Electrical Equipment

Electrical equipment could be damaged during a storm. It could also be stolen from your boat. Adding electrical equipment to your boat insurance policy could be a wise investment. Keep track of your equipment and write down the model number of each device you want to add to your boat insurance policy.

More Information

Meet with one of our Canby, OR agents to learn about some boat insurance types that will protect the marine equipment you own. Feel free to contact an Oliver Insurance agent to schedule a personal consultation.

At Oliver Insurance, we empathize with the choice of selecting a life insurance policy in Canby, OR, given the multitude of options. We understand that you want to ensure your loved ones are financially secure when you pass. The two primary choices for life insurance are term and whole. In the following sections, we’ll delve into the key differences, helping you to make an informed decision that best suits your needs and provides you and your loved ones with the security and peace of mind you deserve.

Term Life Insurance

Term insurance, unlike its counterpart, whole life insurance, doesn’t cover your entire lifespan. Instead, it’s designed to provide financial protection for a specific period, typically 10 to 30 years, depending on the insurance company. Policyholders who pass away will have their beneficiaries receive a payout. However, if the policyholder doesn’t pass away during the span of the term, then the policy expires without any payouts. Term life insurance is often more budget-friendly than a whole policy. 

Whole Life Insurance

Whole life insurance covers a person until their death. Once this happens, their named beneficiaries will receive a payout. The benefit of an entire insurance plan is that it often has more significant premiums but more payouts that compound due to interest. Whole life insurance offers a unique advantage to holders who can access cash in an emergency. This flexibility ensures they are not bound by restrictions as long as they maintain their monthly premiums. 

How to Choose the Right Policy

Choosing the right life insurance policy in Canby, OR, may seem daunting. However, with the guidance of an experienced Oliver insurance agent, you can navigate through the complexities and find the perfect policy that ensures your financial security and that of your loved ones. Don’t hesitate to reach out to us for personalized assistance.

Umbrella insurance policies are comprehensive, covering a broad spectrum of liability risks. However, they do not cover every possible incident that could occur in Canby, OR. To ensure complete coverage, separate umbrella policies must be purchased for a business, even a home-based one. At Oliver Insurance, we can assist with selecting the right policy for both personal and business use.

Understanding the Difference between Commercial and Personal Umbrella Insurance

The primary distinction between commercial and personal umbrella insurance policies lies in the coverage limits. Commercial umbrella insurance naturally has higher liability limits. These higher limits are necessary because businesses generally face greater levels of risk and often need to provide coverage for a larger number of individuals than a personal policy would.

Personal umbrella insurance policies benefit homeowners, particularly those with a large dog, those who frequently host parties or employ household staff, drive a luxury car, rent out properties, possess features like hot tubs or pools, or are public figures with significant wealth. That said, even if you primarily operate your business from your home, these policies will not cover any business activities conducted within your premises.

What Commercial Umbrella Insurance Covers

Almost every business can benefit from commercial umbrella insurance due to its additional liability protection. Situations where this kind of coverage is beneficial include:

• If a client falls on your property and sues for injuries and medical expenses,
• If another company defames your business, leading to loss in a court case,
• If your employees operate company-owned vehicles.

Commercial umbrella insurance policies are designed to cover the activities and premises of your business, as opposed to the personal actions of your family.

High-profile individuals residing in Canby, OR can benefit from holding both personal and commercial umbrella insurance policies. At Oliver Insurance, we are ready to tailor your umbrella insurance coverage to meet your specific needs. Contact us today to start with a policy that offers the financial stability and peace of mind you need.

We offer commercial insurance here at Oliver Insurance in Canby, OR, and we want you to understand the basic components. Read on to learn more.

1. Property Insurance

Property insurance offers coverage for goods owned by a business, including structures, inventory, equipment, and other tangible property. It provides financial compensation for losses caused by perils like vandalism, theft, natural disasters, and fires. This coverage encompasses a range of assets, from real estate to business-related personal property, against loss or physical damage.

2. Liability Insurance

Liability insurance is a vital part of a commercial policy that protects businesses from legal expenses due to property damage or bodily injury to third parties. This safeguards businesses against expensive claims and lawsuits and covers legal defense costs like court expenses, attorney fees, and settlement negotiations.

3. Business Interruption Insurance

Business interruption insurance helps mitigate financial expenses due to interruptions in business operations and includes ongoing expenses and lost income. Coverage includes interruptions caused by physical damage to property, equipment breakdowns, storm damage, fires, and other covered perils that result in a halt or slowdown of operations.

4. Specialized Coverage Options

In addition to the standard components of this coverage are liability and business interruption insurance. Commercial policies can be customized to specific industries or your business needs. These may include:

• Equipment Breakdown Insurance
• Crime Insurance
• Cyber Liability Insurance

Get comprehensive coverage to protect your company property and financial assets. This includes protection against a variety of risks that business owners may face. Our agents here at Oliver Insurance in Canby, OR can custom tailor your commercial coverage to meet your needs and mitigate possible financial losses. Contact us today to schedule a consultation or get a quote.