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Understanding the Difference Between Commercial Property and Liability Insurance

Posted on by agentinsure

Facing a lot of risks, business owners have many decisions to make throughout the day in Canby, Oregon. One of the top items on their list should be their business insurance. Unfortunately, many business owners are perplexed by insurance, and others shy away from the subject leaving their businesses exposed. Commercial property and general liability insurance are two key coverage options to have to reduce risks for your business. The differences and benefits are outlined below.

The Basics of Commercial Property Insurance
Commercial property insurance protects the structures your business owns. You can purchase protections against fire, accidental damage, and weather-related damage. If your business experiences a qualifying event while you have the coverage, then your insurance company will likely help you cover the costs of restoring your facilities.

The Benefits of Commercial Property Insurance
The main benefit you receive when you purchase commercial property insurance is financial protection from a qualified event. Instead of using business revenues to rehab your business, you can rely on your insurance agency to provide the funds you need for a covered event.

The Basics of General Liability Insurance
Large settlements resulting from lawsuits in which your business or an employee representing your business, negligently injured another party, can damage your business severely. Many businesses facing staggering settlements file bankruptcy as a result of not being able to pay their debt. Fortunately, general liability insurance will help you cover the cost if you experience a qualified event while you have the coverage.

The Benefits of General Liability Insurance
General liability insurance offers your business multiple coverage options. The following are some of the benefits.

•    It may protect you from slip and falls.
•    It may protect you from damage you cause to other’s property.
•    It may protect you from slander and libel.

For greater protection, your business can purchase both property and general liability insurance if you find you need the extra protections. Contact us to find out more.

 

Basic Overview of Potential Costs for Your Business in the Event of a Breach

Posted on by agentinsure

Whether it's identify theft, data breach or cyber-crime, they are all basically the same thing. Regardless, the fact of the matter is that you need to be aware of the growing crime and how you're at risk.

Regardless of the industry that you're in, every business has confidential information that a thief wants. They'll take that sensitive data and sell it for money in their pockets. Unfortunately, it will be your bank account that continues to dwindle even after the breach occurs. Here are potential costs that you can expect to deal with:

  • Notifying your customers of the data breach will cost roughly $1, maybe $2, per person.

  • Obtaining help with data recovery and research could cost you $250 per hour.

  • Reissuing credit cards to your customers may cost you $25 per card.

  • Obtaining subscriptions for consumer credit monitoring will cost upwards of $20 per person.

  • Working with legal counsel could cost $600 or more per hour.

  • Offering a customer support hotline would likely cost $5 or more per phone call.

In addition to the aforementioned costs, you have to also think about the costs that are almost impossible to estimate since they vary depending on the exact circumstances and severity of the breach. These costs could include:

  • Expenses for rewards of the person who committed the breach.

  • Various public relations activities to try and salvage the name of the company.

  • Costs to upgrade technology in the office and training of staff.

  • Replacing stolen securities, identifies or funds.

  • Extortion demands.

Cyber-crime is a serious threat to every single business in the country, including your business here in Canby, Oregon 97013. Contact one of our independent commercial insurance agents to learn how you can protect your business from data breaches. Don't forget to ask for a quote on commercial insurance that will protect you in the event that a breach does occur.

Protect Your Business Income During a Power Outage

Posted on by agentinsure

Whether it's a winter blizzard or a summer thunderstorm that takes place here in Canby, Oregon, severe storms can wreak havoc on your business. If severe enough, it could result in your business losing power, which means that you'll have to shut the doors for a bit. Many business owners assume that their standard business insurance contains coverage for this particular type of situation, but this is not always true.

Understanding Business Interruption Coverage

Some states offer an extended coverage for utility interruptions. It is typically known as Utility Services-Time Element and offers coverage for any income loss during an interruption of water supply, power or communications. As a general rule, this type of policy will offer reimbursement for profit loss as well as continuing expenses until your service has been restored and up to the policy limit.

When selecting coverage, it is important to determine whether you need all three or just certain utility coverage. You may need help in doing this, which is why you can give one of our independent agents in Canby a phone call.

3 Things to Keep in Mind

When it comes to this type of coverage, remember that:

  • This utility services interruption coverage cannot be purchased as a standalone policy and must be purchased in conjunction with business income coverage.

  • If there is a deductible or waiting period for your business income coverage, then it will also apply to your interruption coverage.

  • In order for the policy to take effect, the utility loss must have been a result as a covered loss.

If your business heavily relies on any type of utility, then it is imperative that you consult with us about the utility interruption coverage. Our independent agents want to make sure that all businesses in the 97013 community are properly coverage in the event that their business has to shut its doors or need to replace electronics due to storm damage. Contact us today and let us help you!

Homeowner’s Insurance: Storm Protection Coverage

Posted on by agentinsure

Canby, Oregon is a gorgeous town not too far from Beaverton and Portland. It is categorized by vineyards, farmer’s markets, and more. The homes are valued higher than the state average and consist mostly of single family homes.

When you are in the 97013 ZIP code of Canby, you have to look at your homeowners insurance in terms of coverage. If there is a storm, snow or otherwise, it could result in roof damage. If your roof becomes damaged, it could cause leaks within the ceiling as well as various other issues.

You want roof damage to be repaired – and without being the one financially responsible for it. Your homeowner’s insurance may or may not cover the storm damage. This is why you have to look at the full level of coverage that’s in place as well as the fine print.

Our agents can help you with all of the specifics for insurance in Oregon. We can talk to you about specific storm protection so that there is additional coverage in the event of a storm. Whether the storm is rain or snow, you know that if your home becomes damaged as a result of it, you will be able to file a claim and have the insurance company pay.

Protecting your home in the 97013 area of Canby is critical and therefore you have to look at roof damage and overall storm protection within your policy. Our agents are experienced with homeowner’s insurance in Oregon, so let them work on a policy that will adequately protect your home.

Don’t let a storm take you by surprise and cause damage that insurance won’t repair. We can help you, so call us and let us provide you with assistance as well as quotes on a policy today.

Homes In Canby: Protecting Against Sinking Foundation And More

Posted on by agentinsure

Canby, Oregon is a beautiful part of the Pacific Northwest. Home values are slightly above the state average and may be single family detached homes, town homes, and more. There are wineries and farms nearby and you are within close driving distance of Portland should you want to experience what the metropolitan area has to offer.

You want to do all you can to protect your home in 97013 and therefore you have to look at what your homeowner’s insurance offers. Protection may be minimal unless you know what to look for and what coverage needs to be added.

If you have a sinking foundation, it could impact your porch, your walls, and more. The longer you allow the foundation to sink, the more damage can be done. It should be as simple as calling your homeowners insurance in Oregon to receive assistance, but only if there is such coverage.

It can be advantageous to work with an agent where you can learn about what the fine print of a policy says. This will make it easier to know of the instances where a sinking foundation will be covered, amongst other issues that could occur within your home in the 97013 area.

One of our agents can talk to you about issues that homeowners have had in Canby and guide you through the coverage options. This will allow you to pick and choose what coverage you want to know that your home, your porch, and any other features are protected year round.

Homeowner’s insurance is our specialty and whether you have sinking foundation, have experienced a fire, or anything else, we want to work with you on finding the necessary level of coverage.

Call today to start asking questions and receive quotes on insurance premiums.

Top 4 Reasons to Insure Your Classic Car

Posted on by agentinsure

If you own a classic car, then you definitely need insurance on it. Classic car insurance will go a long way in helping you rest assured that this asset is fully covered in the event that it were to become damaged or stolen. As an antique lover in the 97013 area, having the right insurance can help you sleep better at night. Here’s a quick look at the many reasons you’ll benefit from classic car insurance in Canby, Oregon.

Replacement Coverage

If your classic car was to become damaged or stolen, do you have the funds to cover your loss? If not, insurance is a great way to provide you with replacement coverage. If your collectible car is totaled, replacement coverage will be provided in the amount of your car’s "agreed upon value." Best of all, most insurance policies on classic cars take into account the appreciation value of the car, meaning you are protected even if your car’s value goes up from one year to the next.

No need to pay a deductible

Many classic auto insurance policies don’t’ require you to pay a deductible that would normally be associated with a traditional auto policy.

Injury and Property Damage

If an incident were to happen with your classic car in which someone became injured, or property damage was to occur, your insurance coverage would kick in and cover the associated costs.

Coverage when the at-fault party isn’t covered

What happens if you’re involved in an accident with a party who is at fault but doesn’t have coverage? Without insurance, you’ll be out of luck. But with your own classic car insurance policy, you can have peace of mind in knowing that your insurance will cover you.

How Business Insurance Protects Your Business

Posted on by agentinsure

Your business is the result of you working countless hours developing a winning strategy to sell products or services. With so much time and effort invested in your business, protecting it comes naturally.

Purchasing business insurance is an additional way owners choose to protect their business. For a fraction of the costs associated with property damage, fire, and weather-related damage, your business can purchase coverage from an independent insurance agent that will help you secure your business’s future.

Insurance Keeps Your Business Compliant with Laws
In the great state of Oregon, most businesses are required to have worker’s compensation insurance. If your business does not meet special circumstances that exclude you from the requirement, and you have employees, but you haven’t purchased worker’s compensation insurance, you will likely get fined by the state of Oregon. If you are fined, the fine is punitive and will cost your business significantly more than a workers’ compensation insurance policy.

Commercial auto insurance is another type of insurance business owners must purchase if they drive while transacting business. Both small and large companies benefit from having a commercial auto insurance policy since the policy has larger insurance limits, compared to personal auto insurance.

Increased Protections with Coverage for Risks
Independent insurance agents also offer additional insurance products that protect your business. The following are some insurance products all business owners should consider purchasing:

General Liability Insurance helps protect your business from injury as a result of negligence from employees and products.

Key Persons Insurance ensures businesses are able to remain operational after losing a key person.

Property Insurance helps protect the physical premises of the business from events such as fire and weather-related damage.

Beyond the measures you’ve taken to secure your business, partnering with an independent insurance agency like us can help you reduce the financial ramifications of experiencing a loss. If you are interested in purchasing additional insurance coverage, then you should speak with our independent insurance agent today!

 

Car Insurance: Coverage That Matters

Posted on by agentinsure

Canby, Oregon is amongst wineries, farms, and offers a farmers market every week. There are a ton of things to see and do and it’s not a far drive from Beaverton or Portland.

When you look for car insurance in the 97013 ZIP code, it’s important to be aware of the coverage options. The state of Oregon requires you to maintain a minimum level of liability insurance, but beyond that, you still have decisions to make.

You don’t want to damage your clear coat and there are various things that can cause the damage. Hail damage is something you can experience year round, though especially in the cold Canby winters.

The coverage that you need to protect you against hail damage is comprehensive car insurance. This is for all of the non-driving related damage that can be incurred within the 97013 area. So you can protect yourself and your car, your insurance should have this coverage. If you are leasing a car, the company may even require you to have it.

We can help you with all of the coverage options for your car insurance policy. We will go over requirements in Oregon as well as additional options such as comprehensive, collision, and even uninsured motorist. We can discuss the levels of coverage as well so you don’t have to pay anything more than the deductible out of pocket in the event your car is damaged or you are involved in an accident.

Knowing about all of the coverage options will see to it that you are protected against it all in Canby. If you were to get insurance on your own, you may be left vulnerable and our goal is to prevent such a thing from happening.

Call and talk to one of our knowledgeable agents to receive quotes today.

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