Does my business need commercial insurance?

Running a business is hard work, and of course, your bottom line is always in the front of your mind. You want to cut costs wherever you can, but you need to make sure your Canby, OR business is covered with a solid commercial insurance policy. Not sure whether you’re covered? Stop by Oliver Insurance in Canby, OR to chat with a licensed insurance agent to discuss your policy.

There are three types of commercial insurance: property, liability, and workman’s compensation. Property insurance pays for damages to a company or personal property. There are a variety of different facets of property insurance that are available for purchase. From fire insurance to disaster debris removal insurance, you’ll be able to find what fits the needs of your business. Liability insurance covers injuries that occur at the hand of your company to third parties. We’ve all heard of slip and fall lawsuits- the last thing place you want to find your business is on the receiving end of that mess. Liability insurance will keep your company safe from sue-happy customers. Malpractice insurance also falls into the liability insurance category and is key if you are in the medical field. Workman’s compensation insurance is key in case one of your employees gets hurt on the job. Workman’s compensation insurance will cover the employee’s medical bills. Most states require businesses to carry some sort of workman’s compensation insurance.

Your business is your baby, and you need to protect everything that it’s worth. Call a licensed insurance agent at Oliver Insurance today to discuss commercial insurance options that make sense for your budget and needs.

The Historical Flood Plains are Changing

Even if a home is not in a federally-designated flood area, the floodplains are changing with new 100-year floods that are not expected.

The national recognition of flood zones in America is designated by maps maintained by the Federal Emergency Management Agency (FEMA). These maps are available for free from FEMA at the Flood Map Service Center. They are called the Flood Insurance Rate Map (FIRM).

A FIRM is a useful starting point for evaluating the flood risk for a community; however, relying only on a FIRM may put many homes at risk that were not previously considered to be in flood zones. This is because global climate changes are causing the flood zones to change. Consult with your agent at Oliver Insurance, serving Canby, OR, to learn more about the hidden risk of floods in areas not currently designated as being in a flood zone.

The FIRM for any community is based on historical records. The problem with this is the reliance on historical data does not take into account extraordinary floods that happen due to unprecedented climate changes. This past year was a clear example of the surprising natural disasters that are possible.

There were three major hurricanes that caused huge damage to the U.S. and its territories. These all were considered 100-year events. This means that they had a small likelihood of occurring and were only expected to happen once in every one hundred years.

In fact, US Today reports that the probable risk of any major hurricane is about 11% each year for Miami and less than five percent for Houston, Texas or for Puerto Rico. To have three of these major disasters in the same year, doing billions of dollars in damage, is definitely an anomaly according to historical statistical probabilities.

Consider Flood Insurance

Even if your home is currently not located in a flood zone, according to the old maps maintained by FEMA, considering flood insurance is still a good idea. Relying on old maps is not the best strategy when major record-breaking weather changes are occurring. Check with your agent at Oliver Insurance, serving Canby, OR, to learn more about flood insurance for your home and properties. Contact us today.

When is Umbrella Insurance a Good Idea?

Umbrella insurance is one of the lesser knowns and understood types of insurance available on the market today. However, just because it is not very known or understood does not mean that it is not a good insurance that should be considered. There are many reasons to consider getting umbrella insurance but if you are not sure if it is right for you, consider these circumstances from Oliver Insurance, serving Canby, OR.

  • Your home policy does not cover the full value of your home. If you have a home that exceeds the value of what traditional home insurance will cover, umbrella insurance can cover the remaining amount so you do not have a gap in coverage.
  • Your auto policy does not provide coverage for the full value of your vehicle. Just like with your home, an umbrella insurance policy can also cover anything over a standard policy for your vehicle.
  • You tend to host a lot of parties at your house. You should want to have extra liability coverage if you like to host parties at your home on a frequent basis. You never know when something will go wrong and someone may try to sue you for it. Having that extra coverage from an umbrella policy can make all the difference in this type of situation.

If one or more of these reasons is something that you or your family relate to, then it is probably a good time to consider getting umbrella insurance. If you are interested in learning more about your options, be sure to reach out to us here at Oliver Insurance, serving Canby OR, today. We can help you explore all of your options and will even get you a quote for a policy that meets your needs and stays within your budget.

Can I Ride a Motorcycle Without Insurance?

Public roads tend to be dangerous, so regardless of how safe you are riding, there is a chance that you could get into an accident. Due to this, Oregon State requires all motorcyclists to have motorcycle insurance coverage so that riders can remain financially responsible in the event that a crash occurs. Canby, OR clients can get such policies from insurers like Oliver Insurance.
Requirements for motorcycle insurance in Oregon
According to motorcycle insurance laws in Oregon, riders are required to have liability insurance to cater for expenses related to bodily injuries or property damage to others during an accident for which they are at fault. The motorcycle insurance plan needs to include the following minimum policy limits per an accident:
• $50,000 for each crash for bodily injuries done to another party
• $25,000 for each person
• $25,000 for every person as well as $50,000/crash for uninsured coverage
• $20,000 per crash for property damage done to another party
Be sure to get multiple quotes before choosing your preferred insurer. Remember that the premium cost will vary from one insurance company to the other and will be determined by factors like your riding record, age, and whether you have another insurance policy with the same company (the company may provide a discount).
Oregon is a no-fault state, meaning that all drivers are required to have personal injury protection to pay for expenses related to injuries after an accident regardless of who was at fault. The requirement doesn’t apply to motorcycles. However, you will be required by the state to prove that your motorcycle is insured. If you don’t have insurance, your license can be suspended or you may incur a penalty or a fine.
If you are living in the Canby, OR area and its surroundings, consider getting your motorcycle insurance from Oliver Insurance. You can check out our website or contact us for more information.

What to do Before, During an After a Flood

Nobody expects or wants to find several inches of water in their living room, but sadly it happens. In fact, floods are thought to be the number one form of natural disasters in the United States. Unfortunately, water damage can happen to anyone, especially those who live in flood zones in Canby OR. The best way to protect your family and your home against a flood is to be prepared; know what to do before, during and after a flood.

Plan Ahead

Planning ahead and being prepared is the most important thing you can do when it comes to a flood and one of the first things to do is buy flood insurance. Many people assume that their homeowner’s insurance will cover damages caused by a flood, but it does not. Whether you live in a flood zone or not, it is highly recommended that you talk with an Oliver Insurance agent about flood insurance before a flood strikes. Other ways to plan ahead include:

  • Build on high ground. If building new, it’s best to avoid building your home on low-lying land, next to a river-even in areas that have been dry for several years.
  • Protect electrical appliances-by elevating electrical systems and your HVAC system, you can reduce the risk of short circuits and potential fires.
  • Build a barrier to prevent water from entering your home, you can build a barrier either with compacted earth or masonry.
  • Seal your home if you are in a flood zone, you can provide additional protection by sealing your home. This may include installing water shields over the doors and windows and/or coating the walls with a waterproof sealant.

What to do During a Storm

It is important to be alert and get updated information consistently, in case you need to evacuate. Keep in mind that you don’t need to wait for further instructions to move to higher ground. Even if there isn’t an evacuation issued, move to upper floors or leave the residence. Areas can fill up quickly with flood water, so do not attempt to walk or drive near flooded areas.

Following a Flood

Once it’s safe to return to your home, the first thing to do is file an insurance claim. The insurance company will want a general description of the damages and will generally have an adjuster come out to evaluate the damage. Be sure to document all damages before making any repairs-if possible take photographs and/or videos of the damages. Contact a local, reliable contractor to evaluate the damages and provide an estimate for repairs.

Restorations from a storm and/or flood can be significant as well as overwhelming. It’s best to try and remain as calm as possible and take everything step-by-step. It is important that you stay in constant contact with your insurance provider and do not make any permanent repairs until an adjuster has reviewed the damages.

Residents of and around Canby, OR interested in purchasing flood insurance should contact Oliver Insurance.

Coffee & Conversations Referral Contest

We work hard to take care of our clients from quoting to claim. Let us help someone you know. The highest compliment we can receive is a referral from a satisfied client or business. Additionally, we want to expand on our current Referrals for Hope program and are kicking off the Coffee & Conversations Referral Contest!

How you can participate!
~ Refer a friend to our office between April 20th and June 30th
~ Tell them to go through our website HERE , call us directly at 503-266-2715 OR stop in our office to request a quote and make sure to mention who referred them (that would be YOU) 🙂
~ Sit back and relax, we take it from here

What you earn!
~ We send you a $5.00 coffee card, make a donation to a charity on your behalf and enter your name into TWO contests; one for a $50 Amazon gift card and one for four Regal movie tickets
~ Sit back, relax, enjoy your cup of coffee
~ Winners will be drawn after the last day of the month and announced via Facebook, Instagram and Twitter (we will also contact you directly to let you know in case you miss the social media announcements)

Remember, we are licensed in OR, WA, CA, AZ & UT so we can help those near and far!

How Do I Know if I Need Flood Insurance?

The biggest investment that most people will ever own is their home.  Since it is such a big investment, those that are in the Canby, OR area need to make sure that it is properly covered by insurance.  One type of insurance that you may need is flood insurance.  There are several factors to consider when trying to understand if you need to have flood insurance on your property.

Flood Map

One of the main factors that will determine if you need to have flood insurance is the FEMA flood map.  FEMA regularly updates a map of the entire United States that determines whether a home falls in an area that is likely going to be affected by floodwaters.  If your home is located in a high-risk area, you will be required by law to have flood insurance if you have a federally guaranteed mortgage.  If you do not have a mortgage on the property, flood insurance will not be a requirement.

Susceptible to Flooding

While your home may not be located in a high-risk area according to FEMA, your location may still be susceptible to flooding.  In many cases, flood insurance may not be covered under a standard policy.  To ensure that your home is protected from the costs that come with water damage, having a flood insurance policy in place would be beneficial.

For those that are considering their flood insurance needs and requirements in the Canby, OR area, working with Oliver Insurance would be beneficial.  Oliver Insurance will be able to provide you with a full assessment of your home, location, and current situation to determine whether flood insurance is necessary.  They will then be able to work with you to make sure you get the right flood insurance policy to meet your needs.

Life Insurance is for Singles Also

Many people feel life insurance is only for older people or married couples with children. Nothing could be further from the truth. Life insurance has much to offer to single adults, whether they have children or not. Here are some of the benefits singles stand to gain from investing in a life insurance policy from Oliver Insurance in Canby, OR.

Payoff of Debts

If you’ve taken out a loan with a co-signer, your co-signer could be left with a substantial debt if you were to unexpectedly pass on. Life insurance benefits can help pay off your debts from student loans to a mortgage on a home so no one has to assume that financial burden.

Financial Security for Children

With life insurance, single parents can have greater confidence that their kids will have financial support upon their demise. Benefits can be used for a child’s personal care, schooling or even be saved to help pay for college tuition when they’re older.

Emergency Funds

You never know how life insurance can impact your future. Whole life insurance, for example, accrues cash value over the years. If you invest in it while you’re young, you could take out a loan against your policy’s value when you’re older to pay for financial emergencies that may arise. You’ll appreciate having this cushion to fall back on in your golden years.

Funeral Costs

If you’re like most young adults, you’ve probably made no provision for burial services when you die.  Life insurance benefits can help cover funeral costs so your family isn’t burdened with this expense after you’re gone.

As a single adult, you shouldn’t bypass the opportunity to obtain a low-cost life insurance policy while you’re healthy and young. For more information on life insurance policies and costs, contact an agent from Oliver Insurance, Canby, OR, today.

4 reasons to take up commercial insurance

Building a business takes time, energy and patience. Protect your investment by taking up commercial insurance coverage. With a commercial insurance policy in place, you can focus on expanding your business without worrying about insured perils.

Here are other reasons why you should consider a commercial insurance policy;

Protecting your business property
Business property includes some fixed assets on your business premises such as manufacturing plants and the business’s structures. Putting up these structures or purchasing other assets is expensive and losing them to perils such as fire can set the business back financially. The property insurance coverage option protects your business property and meets the repair and replacement costs accrued after a peril.

Employee liability protection
After an insured event such as a fire occurs, employees can get injured, and they could file proceedings against you in court seeking compensation. The employer’s liability insurance pays to represent the business in court and meets the claims made by the employees.

Public liability protection
If a member of the public is injured on your business premises, the public liability coverage pays the damages due to the individual if you are sued. This ensures that the due compensation doesn’t affect your cash flows.

Professional indemnity 
In as much as you are an expert in your trade, there are instances where you will be deemed to have given inadequate professional advice or service to a client. If you are sued, and the client can prove that the advice or service led to losses of any nature, then you are liable for damages. This coverage option pays the claims accrued as directed by the court.

Why choose Oliver Insurance, Canby OR Commercial Insurance coverage?

Oliver Insurance offers commercial insurance solutions in Canby, OR.  Our covers are designed with different business insurance needs in mind. We do not have a “one fits all” commercial insurance cover; once you contact us, we shall advise you according to your specific insurance needs. Visit our website today for a quote on your commercial insurance coverage.