Three frequently asked questions about commercial insurance

Posted on November 24, 2020November 24, 2020 by admin

It would help if you learned as much as possible about commercial insurance when you’re on the market for a policy to protect your company. We insure businesses in Beaverton, OR at W.B. Adams Company. The following are three frequently asked questions about commercial insurance.

What’s a standard Business Owners Policy (BOP)?

One of the most basic coverage options for a small business is a Business Owners Policy (BOP). This type of policy covers commercial property and liability expenses.

This type of policy will also offer business interruption coverage. Business interruption coverage will cover a loss of revenue because a business was prevented from continuing operations for various reasons.

How much liability insurance does my company need?

When a company purchases commercial insurance, it’s important to undergo a risk assessment. A risk assessment determines what liability risks a company faces. This assessment can help pinpoint the amount of coverage that a particular business requires.

A company’s liability coverage needs to depend in large part on its industry and size. However, numerous additional factors can impact liability coverage needs.

How can commercial insurance costs be minimized?

Commercial insurance costs are business expenses that cut into a company’s bottom line. As such, minimizing insurance expenses helps to maximize profits.

Business owners can minimize commercial insurance costs by frequently reevaluating insurance coverage over time. They can also purchase all types of commercial insurance from the same provider to enjoy bundling discounts. Business owners looking to bring down insurance costs might also consider a policy with a higher deductible.

If you have your own questions to ask about commercial insurance in Beaverton, OR, we’re here to help at W.B. Adams Company. Get in touch with us for answers to all your commercial insurance questions.

Three things to do before you purchase a home insurance policy in Oregon

Posted on October 29, 2020October 29, 2020 by admin

Home insurance is an important product for homeowners to have. It would help if you chose the right policy to protect the value of your home. At W.B. Adams Company, we offer home insurance policies to homeowners in Beaverton, OR.

The following are three things you should do before you purchase a home insurance policy in Oregon.

Calculate your coverage needs

Homeowners need different coverage amounts depending on factors like the value of their home and their total assets.

You want to have enough coverage to cover the total value of your home in the event of a severe accident that destroys your property. You also need to protect your assets in the event of a liability lawsuit related to your home.

Get quotes from at least three different providers.

You definitely don’t want to look into home insurance from only one provider. It’s important to get quotes from a few different providers so that you can compare them.

When you compare quotes from various providers, you can select the one that offers the best value. Shopping around is essential when you purchase any product. Remember that home insurance is no different.

Factor your premium into your budget

Your home insurance premium is an ongoing expense that you need to pay every month. Making a late payment can leave you subject to expensive fees. Completely missing your payment could void your policy, leaving you susceptible to severe financial losses in the event of an accident.

The best thing to do is escrow your insurance payment with your mortgage to be sure that you won’t miss a payment.

Get in touch with us today at W.B. Adams Company to learn more about home insurance shopping. We’re here to assist Beaverton, OR homeowners with all their insurance needs.

How does classic car insurance work?

Posted on September 18, 2020September 18, 2020 by admin

Your car may be more than 25 years old, but there is sentimental value to it that prevents you from selling it to the highest bidder. One of the best ways to secure your investment is to purchase classic auto insurance in Beaverton, OR from W.B. Adams Company.

Car values work differently with classic autos.

Unlike the average vehicle that loses value when you drive it off the lot, classic cars increase in value over time. One of the main reasons a classic auto appreciates with time is because of the vehicle owner’s dedication to preserving the originality of the car. The authenticity of a classic car, then, becomes its greatest asset.

Standard auto insurance is not good enough.

A standard auto insurance policy follows the concept of automobiles depreciating with time. Thus, a classic car with all of its original components would not be valued as much because it is more than 25 years old. Standard auto insurance policies do not factor in authenticity. It will also not cover original replacement parts for the car.

How does classic auto insurance work?

Classic auto insurance works so that the actual value of your vehicle is included in the policy. The provider typically works with you to determine how much your car is worth, so, in the unfortunate instance of destruction, you are given significantly more than what a standard auto insurance policy would pay.

Classic auto insurance depends on several factors, which include:

The age of the vehicle
How often you plan to drive the car
How much you have invested in the vehicle

It is important to note that most classic auto insurance plans have driving restrictions that prevent you from making your classic car a daily commuter option. It is best to pursue this type of policy if you have a second vehicle to drive.

The agents at W.B. Adams Company can help you find a classic auto insurance plan that best suits your lifestyle. Call today to get started with a quote for coverage!

Who should get renters insurance in Beaverton?

Posted on August 29, 2020August 29, 2020 by admin

The Beaverton, OR area is a great place for people to live. When you do move to this area of Oregon, a common housing option is to rent your home. When you do rent a home, you should get renters’ insurance. There are several reasons why getting this coverage is a good idea.

Policy Covers Personal Assets

One reason why you should get a renters insurance policy here is that it will ensure your assets are adequately covered. If you are going to lease an apartment, you will likely invest a lot of money on furniture, clothing, kitchenware, and other assets. If you are ever a victim of a fire or theft, you could be left having to pay to replace these items. Fortunately, when you have renter’s insurance, you will receive coverage for these items. This can limit your out of pocket costs to replace them.

Policy Required Under Lease

You should also get one of these policies because it will be required under your lease. If you are going to lease property here, there are likely going to be some renters insurance obligations in the lease. The landlord is also probably going to require that you pay for a full year’s premium upfront. Having the policy will ensure you remain in good standing under the lease agreement.

As you are looking for renters insurance in the Beaverton, OR area, it is important to know that you understand all of your requirements. One company that can be a great guide when it comes to picking a new policy is the W.B. Adams Company. At the W.B. Adams Company, you will receive the support you need to choose a new policy. This will ensure you get into a policy that gives you the right coverage.

Three things you should know about motorcycle insurance requirements in Oregon

Posted on July 30, 2020July 30, 2020 by admin

If you ride a motorcycle in Redmon or Beaverton, OR, it’s crucial that you’re aware of the fact that your state enforces some motorcycle insurance requirements that you need to meet. We provide motorcycle insurance to Oregon bikers at W.B. Adams Company.

The following are three things you should know about motorcycle insurance requirements in Oregon.

Bodily injury coverage requirement per individual

You can potentially be held liable if another person becomes injured in an accident that you are involved in. For these scenarios, the state requires you to carry at least $25,000 in bodily injury liability coverage on your Oregon motorcycle insurance policy.

Bodily injury coverage requirements per accident

You also need to meet coverage minimums when it comes to bodily coverage amounts per accident. Multiple individuals might experience an injury as the result of an accident you’re involved in.

In this case, you need to carry at least $50,000 in liability insurance coverage for bodily injuries per accident.

Property damage coverage requirement

Another liability to be aware of when riding your motorcycle in Oregon is property damage liabilities. You could potentially cause damage to the property of another individual if you are involved in an accident.

In Oregon, the minimum liability coverage requirements for motorcyclists is $20,000. Your motorcycle insurance policy needs to carry at least this much property damage coverage.

Now that you understand some details about motorcycle insurance requirements in Beaverton, OR, it’s time to find the right insurance policy. Get in touch with us at W.B. Adams Company for assistance in finding the best motorcycle insurance policy for your unique needs and preferences.

How can health insurance protect someone in Oregon?

Posted on June 26, 2020June 26, 2020 by admin

There are many forms of insurance that someone in the Beaverton, OR area will need and want to have. One of the most essential types of insurance coverage to get is health insurance. This form of insurance is extremely beneficial as it can help to ensure that you are protected in many different ways.

Provides Access to Preventative Healthcare

Having access to preventative care, which can include being able to see a physician for an annual physical or getting affordable medication, is a great way to stay healthy. When you do not have insurance, this may not be a practical option for you. Those that have this form of insurance coverage will receive the coverage that they need to get the preventative care necessary.

Provides Access to Major Medical Expenses

While preventative care is important, the most expensive healthcare costs can come if someone is hurt or becomes seriously ill. If this does occur, the cost of care and recovery can be high. Fortunately, when you have health insurance, you will have the insurance coverage to ensure you receive the right care and that your costs are reduced as much as possible.

Those that are in the Beaverton, OR area, and are looking for insurance may find that picking a health insurance policy is confusing. As you are shopping for a new policy, seeking out the advice and guidance provided by a professional could be a great option. The team at W.B. Adams Company could provide you with the support that you need to choose a new policy. The insurance team at W.B. Adams Company will evaluate all of your individual health insurance coverage needs and then help you to choose a policy that will provide you with the right type and level of coverage.

Oregon Road Laws You Might Not Know

Posted on May 30, 2020May 30, 2020 by admin

Of course, you know the general rules of the road. You know to go on green and stop on red, you know to pull over when you hear sirens. But there are some other laws that Oregon drivers might not know:

If you’re pulled over under suspicion of DUI, you can request a breathalyzer or other test to prove your innocence. And, if you’re not happy with the results, you can request a follow-up test by a qualified professional to double-check the first.
It is illegal to leave your car running if you are not in it. It doesn’t matter if you’re hopping out for five seconds or an hour. If your car’s running, you need to be behind the wheel.
You are required to take the keys out of your car after parking it.
There are a few exceptions to seatbelt laws: If you’re delivering newspapers, are performing sanitation work, are in a motorhome, are in the beltless seat of a pickup, or if you have a note from your doctor saying that you can’t wear a seatbelt.
It is a first-degree misdemeanor to present a police officer with canceled insurance. This can be an honest mistake, but it could also be seen as obstruction and an attempt at fraud.

Generally speaking, if you drive safe and follow the signs, you’re probably driving within the law in Oregon, but it’s always good to know the laws and to know your rights.

If you’re still insurance-shopping, give W.B. Adams Company a call or visit our office in Beaverton, OR. W.B. Adams Company can get you covered with the protection you need.

When do I need commercial insurance for my Oregon Business?

Posted on April 26, 2020April 26, 2020 by admin

The Beaverton, OR area continues to be well known for having an excellent local economy. Due to this, it can be a great place for anyone to start a company. Those that have a company in this area of Oregon could end up being quite successful. To ensure that your business is adequately protected, it is essential that you get a commercial insurance policy in place.

Comply with Lenders and Investors

One of the reasons why you will need to have commercial insurance for your Oregon business is so you can comply with the requirements set forth by your lenders and investors. All lenders and investors know how important it is for a company to have proper insurance. Due to this, they will make sure that you have appropriate coverage at all times and may also require escrow payments.

Protects Business Investment

Another reason why you will want to have commercial insurance for your business is that it can help to protect the investment that you have in your business. If there is ever an accident or other incident that either damages company assets or puts you at risk for a liability lawsuit, the ultimate impact of this could be significant. Fortunately, when you get commercial insurance, you will have the coverage that you need to protect against this.

If you have a business in Oregon and would like to protect it with commercial insurance, it would be a good idea to contact the W.B. Adams Company as soon as you can. Choosing commercial insurance for a company can be quite challenging and complicated. When you work with W.B. Adams Company in Beaverton, OR, you can receive the assistance and support that you need to make the right insurance decision to protect your organization adequately.

Does home insurance cover sublets?

Posted on March 26, 2020March 26, 2020 by admin

You may think that subletting your home is a good way to make money when you are out of town. Most standard home insurance plans, however, do not cover short-term rentals. It is important to make certain that you have the right indemnity policy before handing over the keys of your Beaverton, OR home for the next few weeks. The agents at W.B. Adams Company can help you find the right plan.

What counts as subletting?

Some homeowners consider traditional means of subletting, which include soliciting complete strangers to live in their homes while they are away on vacation or business, as the only means of short-term renting. There are other means of subletting, though, which may not appear as short-term rental agreements at first glance.

Renting a room in your home is technically subletting since the individual is paying to use space at your residence. Airbnb rentals are also sublet agreements.

The problem with subletting while uninsured

Some homeowners take the risk of entering short-term rental agreements while lacking proper insurance to do so. The consequences of such actions can be detrimental if the renter’s property is damaged on your property or if he is injured while at your residence.

Most home insurance providers will not pay for damages and injuries sustained by the renter if you have a standard policy. Some indemnity companies may even view you as a higher risk because of the short-term rental agreement and move to terminate your policy altogether.

What type of insurance do you need to sublet in Oregon?

Vacation rental insurance is ideal when you want to sublet your home in any capacity. You may even want to consider tenant insurance if you enter short-term agreements on a continuous basis.

The agents at W.B. Adams Company in Beaverton, OR can help you find the sublet insurance solution to fit your needs. Call us today to get started with a quote on home insurance!

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Author: admin