Is There Anything Umbrella Insurance Does Not Cover?

Posted on February 14, 2025February 12, 2025 by agentinsure

Understanding the Advantages and Limitations of Umbrella Insurance

If you’re contemplating purchasing an umbrella insurance policy, it could be a wise decision to bolster your insurance coverage. While umbrella insurance offers an additional layer of protection, it’s crucial to understand that the policy doesn’t cover everything. For detailed information about umbrella coverage in Canby, OR, reach out to our agents at Oliver Insurance. We can provide a comprehensive explanation of what is and isn’t covered.

What Umbrella Insurance Covers

Umbrella insurance is a practical choice because it kicks in once the maximum coverage limits of your standard insurance policies (home, medical, auto) have been exhausted.

Umbrella insurance then covers lawsuits against you for damages or injuries, such as property damage to another person’s property, lost wages and medical bills for injured parties, court costs for legal settlements, and more.

What Umbrella Insurance Doesn’t Cover

In the event of an accident or property damage, your homeowner’s insurance policy is the first to be accessed. Umbrella insurance doesn’t cover any damage to your property.

An umbrella insurance policy does not cover your medical bills.

If you run a business, standard umbrella insurance doesn’t cover any losses your business may incur. You might need a commercial umbrella policy.

An umbrella policy does not cover liability arising from a contract.

If you’re found to have intentionally engaged in a criminal act or displayed criminal behavior, umbrella insurance does not cover any consequences resulting from these actions.

Get in Touch

There’s a wealth of information about umbrella insurance and who benefits from the extra coverage. For assistance in making the right coverage decision for residents of Canby, OR, you can rely on our team at Oliver Insurance for the answers you need.

Commercial Insurance a Business Needs When It Owns the Building

Posted on January 22, 2025January 21, 2025 by agentinsure

Commercial liability insurance often takes center stage, but did you know that your Canby, OR, business also needs specific insurance that protects the components of your physical building? If you own your building, your commercial insurance package likely includes commercial property coverage. Still, your policy package from Oliver Insurance should also cover building components, such as glass windows or the boiler.

What If Your Business Rents Its Space?

If a business rents or leases its space, the landlord’s insurance typically covers boiler breakdowns, broken plate glass windows, and vandalism. Check your lease to ensure it extends the landlord’s insurance coverage for the cleanup of vandalism that occurs while you occupy the building or rented office. You’ll need insurance covering your business furniture, equipment, and inventory. If damage occurs to any part of the building itself, your landlord is responsible for the repairs.

What If Your Business Owns Its Building?

If you, as the business owner, or the business as a corporation or LLC, own the building, you are responsible for repairs. Commercial property insurance covers many damages, but some require a specific policy. Coverage like glass policies, boiler insurance, and business property coverage protects against financial losses from these types of damage.

Glass policies cover plate glass windows, mirrors, etc. Dance studios, workout studios, and retail stores often purchase this type of policy due to the large amount of glass in their buildings. Boiler insurance covers a building’s boiler, furnace, etc. You can file a claim if a part breaks or the system fails. A business that owns its building also needs coverage for the furnishings, equipment, and inventory.

How Do You Know Which Coverage to Buy?

Don’t guess which policies your Canby, OR, business needs. Call or email Oliver Insurance for a commercial insurance review. Let us help you build a comprehensive commercial package that protects your financial investment.

Insurance Guidelines for New Pet Owners

Posted on December 27, 2024December 10, 2024 by agentinsure

Have you recently adopted a dog or cat? You can obtain insurance coverage for your new furry companion. Pet insurance will protect the health of your pet. Some insurance policies provide liability protection, which can also benefit you as a pet owner.

Pet Breed Considerations

Before you obtain pet insurance, consider the breed of your adopted pet. The temperament of a particular breed can affect what type of pet insurance you need.

For example, if you adopt a large dog breed known for its aggressive tendencies, you may need a liability protection plan that will provide protection if your pet causes harm to someone else. Liability protection for a pet will also provide protection if your pet causes damage to another person’s property.

Proposed Living Quarters

It is important to assess the type of living quarters that your new pet will be supplied with. An indoor pet may be provided with safety and security to ensure that it will maintain its health. However, a pet placed outdoors could be more at risk of becoming injured or sick.

Pet Health Considerations

You should consider your new pet’s current health and any potential problems that may impact its health in the future. Your pet insurance policy can cover routine office visits, emergency care services, and preventative care services.

Contact An Insurance Agent Who Serves Canby, OR

Schedule a time to consult with one of our Oliver Insurance agents. The agent who you meet with will ask you some questions about your new pet. Based on your information, the agent will recommend beneficial pet insurance products.

Do All Motorcycles and Scooters Need Insurance?

Posted on November 29, 2024November 12, 2024 by agentinsure

State traffic laws and insurance requirements differ for scooters, mopeds, and motorcycles, though we define Oregon’s requirements below. Likewise, insurance companies use different methods to define and price insurance for two- and three-wheeled vehicles. If you live in or near Canby, OR, and have motor vehicle or other insurance questions, contact the Oliver Insurance team for assistance.

Motorcycles, Mopeds, and Scooters

State laws vary in how they handle scooters, mopeds, and motorcycles, including whether:

They can use public roads
Distinguish the vehicle types legally
They separate vehicle types on top speed, engine size, or engine location

Oregon defines motorcycles and mopeds as vehicles with three or fewer wheels contacting the ground and a seat or saddle for the rider. A moped cannot have the capability of exceeding 30 mph on level ground, and if it has a combustion engine, it must be 50 CCs or less. Scooters that do not meet those definitions do not require insurance.

The State of Oregon does not distinguish the insurance requirements for automobiles, motorcycles, or mopeds. Owners of motor vehicles operating on public roads must have insurance coverage with 25/50/20 minimum limits, meaning the policy liability must cover at least the following:

$25,000 per injured person
$50,000 per accident
$20,000 property per accident.

Owners also need uninsured motorist coverage of $25,000 per person and $50,000 per collision for bodily injury.

Insurance companies also differ in whether and how they distinguish the two-wheeled vehicle types, so shop around or use an independent agent like Oliver Insurance to find the coverage that meets your needs.

Insuring Your Motorcycle with Oliver Insurance

The Oliver Insurance team serves the Canby, OR, area. We can help with your motorcycle, moped, or other insurance needs, so call (503) 266-2715 to schedule an appointment.

Boating With Guests: Insurance Tips for Passenger Safety

Posted on November 15, 2024November 12, 2024 by agentinsure

Taking your friends and family out on the water is a wonderful way to enjoy the beauty of nature and create lasting memories. However, ensuring everyone’s safety is a top priority. At Oliver Insurance, which provides boat insurance in and around the greater Canby, OR, area, we believe that preparation is key to a safe and enjoyable boating experience.

Understanding Your Coverage

Before setting sail, it’s crucial to review your boat insurance policy. Ensure that it includes liability coverage for passengers in case of accidents. If you’re unsure about your policy details, our team at Oliver Insurance can help clarify any questions you may have.

Safety First: Essential Precautions

Life jackets are a must for everyone on board. Make sure they are readily accessible and fit appropriately for all passengers. It’s also important to brief your guests on safety procedures and emergency protocols. Familiarize them with the boat’s layout, including the location of fire extinguishers and first aid kits.

Navigating the Waters Responsibly

Always be mindful of speed and weather conditions when you’re on the water. Avoid risky maneuvers, especially with inexperienced passengers. Keeping a safe distance from other vessels and staying alert can prevent potential mishaps.

The Importance of Communication

Open communication with your passengers is vital. Encourage them to express any concerns or discomfort. This helps maintain a relaxed atmosphere and ensures everyone is on the same page regarding safety measures.

Are You Interested In a New Boat Insurance Policy? Call Us Today For an Estimate

At Oliver Insurance, serving the greater community in and around Canby, OR, we’re dedicated to helping you protect what matters most. Contact us today to review your boat insurance policy and ensure a safe and enjoyable outing for you and your guests.

Umbrella Insurance Coverage for Business Expansion Projects

Posted on October 31, 2024October 10, 2024 by agentinsure

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.

4 Reasons Why You Need Life Insurance As a Single Person

Posted on October 15, 2024October 10, 2024 by agentinsure

As a single person, you may not see the immediate need for life insurance. You might think it’s something you get once you have dependents. However, it’s ideal to start a policy while you’re young for the benefits outlined below.

1. Affordability

Starting a life insurance policy when you’re young and single often results in lower monthly rates than if you were married with children. The rates also increase as you age, so starting a policy as soon as possible is beneficial.

2. Covering Final Costs

In the event of your unexpected passing, there will be final costs for funeral services and expenses. With a life insurance policy, you can cover all that financial burden, allowing your loved ones to mourn without worrying about financial concerns.

3. Settling Outstanding Debts

Another expense to consider is your outstanding debts. In the event of your death, if you have a home, vehicle, or other property you want to pass on to a loved one, they’ll need to be able to pay the balance. These debts aren’t eliminated if you pass away, and the loan companies will come to retrieve that property.

4. Leaving a Final Gift

As a single person, you still have friends and family to whom you may want to leave gifts should something happen to you. In the event of your death, you can leave a financial gift for your parents to help them through the next few years or a significant other you have grown fond of and want to take care of in some way.

If you’re in the Canby, OR area and looking for a personal quote on life insurance, we’re here to help. Contact our team at Oliver Insurance today for more information.

Structural Upgrades That Require More Commercial Coverage

Posted on September 16, 2024September 13, 2024 by agentinsure

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.

What Types of Items Are Typically Included and Excluded When It Comes to Pet Insurance?

Posted on August 16, 2024August 14, 2024 by agentinsure

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.

How State Requirements Determine What is Needed in Motorcycle Insurance

Posted on July 30, 2024July 16, 2024 by agentinsure

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.

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