Is Boat Insurance Required?

One of the best ways to spend a nice summer day in Canby, OR is on your very own boat in one of the many nearby lakes and waterways. When you own a boat, it is very important that you keep it properly protected. One of the best ways to do this is by purchasing boat insurance. While it is not necessarily required by law, there are still several situations in which you may need to have boat insurance.

Boat Loan
The first situation in which you will want to have boat insurance is if you have a boat loan. When you take out a boat loan, the lender will want to make sure that they are covered in the event the boat is stolen or damaged. Because of this, your boat loan agreement will require that you carry both insurance as long as the loan is outstanding.

Local Requirements
The state of Oregon does not necessarily require that you carry boat insurance when you operate a boat. However, there are a number of local lakes and marinas that have specific requirements in place to make sure that you are covered by insurance. Generally speaking, these lights will require that you at least have some level of liability insurance coverage that will protect other people on the lake if you are at fault in an accident.

If you are a boat owner in the Canby, OR area, you should speak with Oliver Insurance to better understand your boat insurance needs. One of the main advantages of consulting with Oliver Insurance is that they will be able to review your particular situation and explain to you what type of boat insurance you should have. This will help to ensure that you have the appropriate level of coverage at all times. 

Is Boat Insurance Required?

One of the best ways to spend a nice summer day in Canby, OR is on your very own boat in one of the many nearby lakes and waterways. When you own a boat, it is very important that you keep it properly protected. One of the best ways to do this is by purchasing boat insurance. While it is not necessarily required by law, there are still several situations in which you may need to have boat insurance.

Boat Loan
The first situation in which you will want to have boat insurance is if you have a boat loan. When you take out a boat loan, the lender will want to make sure that they are covered in the event the boat is stolen or damaged. Because of this, your boat loan agreement will require that you carry both insurance as long as the loan is outstanding.

Local Requirements
The state of Oregon does not necessarily require that you carry boat insurance when you operate a boat. However, there are a number of local lakes and marinas that have specific requirements in place to make sure that you are covered by insurance. Generally speaking, these lights will require that you at least have some level of liability insurance coverage that will protect other people on the lake if you are at fault in an accident.

If you are a boat owner in the Canby, OR area, you should speak with Oliver Insurance to better understand your boat insurance needs. One of the main advantages of consulting with Oliver Insurance is that they will be able to review your particular situation and explain to you what type of boat insurance you should have. This will help to ensure that you have the appropriate level of coverage at all times. 

When Can You Claim Your Commercial Insurance?

Every business in Canby, OR, regardless of its size or operations, requires some form of commercial insurance. Commercial insurance helps a business to deal with risks such as fires, theft, or business interruption. To determine the kind of commercial insurance that is suitable for your business, get the help of an agency with experience in commercial insurance such as Oliver Insurance. They will help you customize a policy for your needs.

When You Can Claim Your Commercial Insurance

•You can claim your commercial liability insurance if your business is facing liability claims. The claims may arise if a third party is injured on your business premises, if their property is damaged or if your employees cause harm to third parties or destroy their property by accident. The insurance coverage may help to pay for the repair or replacement costs of their property, legal charges, lost wages, or pain and compensation. If your employees get injured at work or as a result of their work, you can claim your worker’s compensation insurance. It helps pay for medical fees, lost wages, and death benefits.

•If your business property is damaged due to insured risks, you may make a claim. Your business property could include; business inventory, machines and tools, furniture, and electronics. Your property insurance coverage compensates you for the cost of repair or replacement of your property.

•If your business loses its income because of business interruption, you can make a claim on your business interruption insurance. It helps compensates a business if its activity is interrupted by covered risks. It provides salaries for employees during the period that your business is not in operation, tax payments, rent, and profits that it would have made.

Contact Oliver Insurance on 503-266-2715 for your commercial insurance needs in Canby, OR.

When Should You Think About Purchasing Life Insurance?

Life insurance is designed to offer protection to surviving loved-ones in the event of your untimely passing. One of the most important questions that people have regarding life insurance, is when they should consider making a purchase. Once you have married, or have children, you should begin looking for life insurance options that fit your needs.

Making A Life Insurance Policy Purchase

As your family grows, you should be thinking of ways to protect them in the event you die. The most important way to offer them the protection they need in the event of a loss of income is to purchase life insurance. A life insurance policy will allow them to pay bills, pay for school, and any other recurring financial burdens in the years following your passing. Calculate how much money will be needed to support your loved ones for ten years after your passing to give you an idea of how much coverage you need to purchase.

Help Finding Life Insurance Products

Finding the right coverage is as important as purchasing the right amount of coverage. Use a reputable insurance provider such as Oliver Insurance serving the residents in and around the Canby, OR area. They can answer all of your questions and help you discover life insurance options that will fit your needs. Get the peace of mind you need to protect your loved ones in the future. 

If you live in or around the Canby, OR area and would like more information about life insurance coverage, call or stop by Oliver Insurance. One of their helpful representatives can begin assisting you with finding the right coverage options. 

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.