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Business Insurance for Your Food Truck

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If you own a food truck, it is likely your biggest investment. Furthermore, your food truck is an extension of your home. There may be days when you spend more time in your food truck than you do in your apartment or house.

Here at Einstein Insurance, serving Portland, OR, and all of western Oregon, we provide the business insurance food truck owners require to protect their investments, reputations, and employees.

What Is Food Truck Insurance?

Insurance companies do not offer specific "food truck policies." Instead, your insurance agent collaborates with you to tailor a business insurance policy that provides all the types of coverage that you need:

  • Coverage for the food truck itself, in both parked and driving situations.
  • Insurance to protect against accidents inside or in the vicinity of the truck, as well as workers’ compensation for employees.
  • An often overlooked but essential liability coverage to settle claims in the rare event that a customer reacts negatively to the food.

Food Truck Insurance Usually Involves More Than One Policy

Your agent at Einstein Insurance, serving greater Portland, OR, will consult with you to ensure you receive precisely the coverage you require.

Most food truck owners will need the following:

  • A business owner’s policy. This policy covers your food truck or food cart and general liability for your business.
  • Commercial auto coverage. If you tow a food cart with your personal vehicle, your regular auto insurance is insufficient. You will also need commercial auto coverage for your car or pickup.
  • Liquor liability insurance. This policy protects you from claims by inebriated customers.
  • General liability insurance. This coverage protects you in case of claims of negligence, bodily injury, property damage, and advertising injury.
  • Workers’ compensation. This state-mandated coverage provides for your employees in case of job-related injury or illness.

Allow the professionals at Einstein Insurance to review your policies to make sure you have the precise coverage you need. Call us today!

Navigating Bond Insurance Needs in Portland, OR with Einstein Insurance

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Running a business in Portland, OR can be overwhelming. You never know what you’re going to deal with. Being prepared is what can make you a successful business owner, and it makes sense to have bond insurance.

What is Bonds Insurance?

By purchasing bond insurance, you have a surety bond that will cover your business against a wide range of claims, including everything from theft to fraud to poor artistry.

Whenever you work with one or more parties, having this kind of coverage is a good idea. If a contractual obligation isn’t met, you’re still covered.

Of course, you don’t want just any bond – you want to make sure that it is capable of meeting the needs of your business and offers protection based on your industry and the risks that are likely to occur.

This isn’t something you need to do on your own. Whether you need help choosing the right bond insurance policy or need to decide whether you even need this kind of insurance, we can help.

Understanding More About Bonds Insurance

While you want to be smart about your business in Portland, OR, you also want to avoid spending more than necessary. It becomes a balancing act between investing in your business and spending too much.

This means that it’s important to look at how much protection you need with bond insurance – and our professional agents at Einstein Insurance can help you with all of this. We’ll talk to you about your business and the kind of revenue you generate and even learn about issues you may have encountered.

With our recommendations and quotes from multiple insurance companies, you can get the right policy for your business.

Don’t panic about getting the insurance you need for your business. Contact us at Einstein Insurance today to let one of our agents show you what’s best.

Insurance For Tools and Materials You Use on Worksites

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Your contracting duties include seeking adequate insurance coverage for the tools and materials that you use on each work site. Review some items that you should add to your contractor’s insurance policy. Then, consult with one of our Einstein Insurance agents for sound insurance advice.

An Inventory

Take an inventory of the tools and materials you use regularly. Focus solely on the items you own outright. If you rent items on occasion, the owner of the rental facility will be responsible for insuring the equipment you rent out.

If you plan to purchase contracting equipment soon, seek additional contractor’s insurance coverage for each item you purchase.

Organizational Tips

Keep your tools and contracting materials organized. Organizing everything will help you keep track of when you need to order new items. It will also save you time when you are preparing each worksite for an upcoming project.

If you own many small hand tools and other loose items needed for contracting duties, purchase a large toolbox or another storage aid to secure them all.

Limits and Exclusions

Your contractor’s insurance policy will specify limits and exclusions. Review this information. If you do not think the policy provides enough coverage for your tools and materials, shop around for additional insurance coverage.

Add-on coverage will increase the amount of coverage that your contractor’s insurance policy provides.

Contact Einstein Insurance

If you would like to learn more about your contractor’s insurance policy, meet with one of our insurance agents. An agent representing the Portland, OR, area will schedule your insurance appointment.

Mitigating Workplace Risks in Portland: Key Insights into Employee Practices Coverage

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Understanding the necessity of minimizing risks in your professional environment cannot be overly stressed. This is why Einstein Insurance, with its highly skilled professional team, caters to businesses in Portland, OR by providing insights on the most suitable choices. Continue reading to discover these policies’ integral role in maintaining a healthy and safe workplace.

Litigation Protection

If a substantial jury verdict is awarded, the implicated business might suffer severe setbacks or even permanently halt operations. Thankfully, with employee practice coverage, companies in Portland establish a much-needed safety net. This coverage is essential as employment-related claims often leave businesses, regardless of their size, in the grueling position of searching for extra funding.

High-Quality Defense

Most of these policies require businesses to retain top-tier legal representation. This choice not only aligns with the business’s specific needs but also prevents the challenges of seeking legal assistance at the last minute. It ensures you feel confident that experienced counsel always represents you.

Experienced Claims Examiners

Every insurance firm has a qualified claims assessor prepared to process employment law-related claims. This promises policyholders a dual examination system for every claim, ensuring round-the-clock protection for your organization.

Here at Einstein Insurance, we strive to help businesses get the maximum output from their workforce. Employee practice coverage is crucial for companies in the Portland, OR, area. Please contact us with any additional queries.

The Types of Incidents Cyber Insurance Covers

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Cyber risks increase daily for businesses in Portland, OR, as criminals become more savvy in hacking into networks and computers to steal personal information and paralyze operations in hopes of getting a ransom payment. Insurance covering these risks has become a necessity, yet many entrepreneurs remain unsure about what a cyber policy covers. Einstein Insurance can guide you on the intricacies of a cyber policy and recommend one to suit your needs.

Cyber Insurance is Evolving

The world of cyber insurance is still new, so it continues to evolve as more risks become apparent. Comprehensive cyber policies cover three main areas of financial risk:

  • First-party expenses, including costs you would have to pay to cover losses related to data breaches or privacy incidents
  • Third-party expenses, which are the costs associated with defending liability claims and fines and penalties assessed by authorities
  • Cuber crime costs, dealing with financial losses directly resulting from criminal activities, including the theft of funds from digital fraud

Explaining Coverage

You may not be sure exactly what falls under first-party or third-party coverage, but when seeking a cuber policy, you want something to cover your operation. Look for coverage of data breaches that insures you against information theft, network breaches, incidents that occur online anywhere in the world, and defense for lawsuits emanating from data breaches. Additional coverage your policy should have includes legal counsel for notifications and regulatory obligations, recovery and replacement of data, lost income due to interruption of business, crisis management and public relations, extortion and fraud, forensic services investigating the breach, network business interruption, errors and omissions related to cyber incidents, and intellectual property infringement.

Because this coverage has evolved so quickly, reviewing your coverage with Einstein Insurance annually is a good idea. Contact our Portland, OR, office for the latest information.

Boat Insurance for Fishing Companies

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Einstein Insurance provides Portland, OR businesses with many types of policies. For example, we’ve helped fishing companies find boating insurance that makes sense for their needs. If you’re on the fence about this coverage, it’s important to understand the ways it can help you.

Why Fishing Companies Need Insurance 

As a fishing firm, you take a lot of people on various trips throughout your active season. What happens to you if anything goes wrong during these trips? For example, let’s say that your boat experiences severe damage and ends up partially or completely sinking on a trip.

Expect to find yourself replacing your expensive boat out of pocket and even paying for health coverage for your clients. You might even get sued for various types of punitive damages after the accident. How do you avoid this problem? By getting a boating insurance policy.

Finding a Strong Policy 

While you can always buy better boats and hire stronger drivers, that’s no replacement for boating insurance. Put simply, boating policies provide the hands-on help that you need by covering all these issues for you. Before buying any insurance, it’s important to ask questions like:

  • Does this policy cover my specific boat model and brand?
  • What problems does it pay for, and how does it provide payments?
  • Will this policy fit into our coverage options, and what else does it do?
  • Is there any way I can bundle this coverage with other insurance?

Contact Us Today to Learn More

With our help at Einstein Insurance, you can get the Portland, OR boating insurance that your fishing company needs to stay safe. Call us today to learn more about your protection, and we’ll do what we can to provide effective and beneficial protection at a rate that makes the most sense to you.

Are Suits Against Defamation, Libel & Slander Covered By Umbrella Insurance Coverage?

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Should someone make unfounded statements against you, you have a right to defend your character and name against defamation, libel, and slander. Doing so can require substantial financial resources, which is where an umbrella insurance policy from Einstein Insurance in Portland, OR can help.

Defining Defamation

Legally speaking, defamation causes damage to the reputation of another person through false statements that are presented as facts. Should claims be made against you that are untrue, action can be taken against them for damaging your character. To quantify defamation, there are a few requisites.

  • The lie cannot be stated as an opinion.
  • The accuser knows the statement is false but follows through with saying it negligently.
  • The statement is made with a reckless regard for the truth.
  • The person making the accusation against you must show malicious intent if you are defending a case against you.

What Are Slander and Libel?

Often used interchangeably, the terms slander and libel are forms of defamation with distinct definitions of their own. Libel involves defamatory statement(s) that have been made in writing or digitally. Slander refers to defamatory statements spoken orally, and this type of claim is challenging to prove without recorded evidence. Both libel and slander can be a part of a defamation case.

How Umbrella Insurance Might Help

Umbrella coverage is an optional type of insurance that can be invaluable should someone attempt to defame your image or brand. Umbrella insurance can help with legal fees and any losses suffered due to the attack. Should a case be brought against you, it can give you coverage for any judgments rendered against you by a judge or jury.

We Are Here To Help

Staying ahead of the game is necessary, especially if your name is essential to your livelihood, well-being, and to those around you. Defamation lawsuits can be time-consuming and costly and may involve lost wages and time spent in court, whether you are bringing the suit or someone is bringing a case against you. To learn more about the value of umbrella policies, contact Einstein Insurance in Portland, OR today.

I’m only 18. Is it too early to invest in life insurance?

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Investing in life insurance often creates peace of mind for many people. Many people take solace in knowing that their loved ones will be taken care of once they pass away. There are different kinds of life insurance to meet the varying needs of different people at different stages and ages in life. There are also living benefits that you and your family can take advantage of, depending on your insurance policy. However, life insurance is an often misunderstood type of insurance in terms of who needs it and why. Our team at Einstein Insurance knows that life insurance can be confusing to navigate. As a result, we’re committed to helping Portland, OR residents understand it.

What is Life Insurance?

Life insurance pays a lump sum of money to your family or anyone you name as a beneficiary on your insurance policy. This lump sum of money is a death benefit that your beneficiaries can use in any way they see fit. Life insurance can also include burial coverage and any number of other benefits. Also, life insurance can be purchased for your entire life, referred to as "whole life insurance." You can also purchase life insurance for a specified amount of time or for a term, referred to as "term" life insurance. Other forms of life insurance exist as well. As a policyholder, you pay a monthly fee to maintain your life insurance coverage. It should also be noted that life insurance payouts are tax-free.

I’m only 18. Is it too early to invest in life insurance?

If you have long-term financial goals, there are benefits to investing in life insurance at a young age. You can often lock in a better rate that won’t change over the life of your policy. This is one benefit. If you have long-term financial goals, life insurance can be very helpful and may even provide some living benefits as well. If you have more questions about life insurance, call us at Einstein Insurance in Portland, OR. We’d be happy to help you explore your options.

Water Damage and Your Vehicle

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If Oregon is known for anything, it’s known for being rainy. Rain can cause water damage as can flooding and someone trying to reenact a James Bond movie. Trying to avoid water damage on a vehicle is doable but difficult in a part of the country where it rains frequently. Treating water damage is a possibility as well. 

First Things First

First of all, do not try to start the engine of a flooded vehicle. That will do more damage. If there was a hurricane, tidal wave or someone just drove to Cannon Beach and kept driving, you could have salt water damage which is even worse than damage from fresh water. Salty or fresh, you need to tow your vehicle to higher ground and get it dried out as quickly as possible. You might need to drain out the oil, transmission fluid, and lube first. You and a qualified mechanic can then file a claim with your insurance company. 

How Bad is the Damage?

Water droplets on the dipstick mean water in the engine. The cylinders will need to be removed and checked for corrosion. A wet vac and some cloth towels can remove most of the moisture. Check the fuel tank and line for water. 

How to Avoid Water Damage

If you live in a flood zone, you may want to move your care to a higher area. If you have a garage, floodproof it to keep water from getting in. A good short-term solution for protecting your car in heavy rains is a protective car cover. 

Einstein Insurance Serving Portland, OR

If you need auto insurance and are in the Portland, OR area, please consider Einstein Insurance. Our agents will be happy to give you the help you need. 

Do small businesses need commercial insurance and commercial vehicle insurance?

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Owning a small business requires balancing risks and rewards, and one way to reduce risk is to ensure your company is adequately insured. Unfortunately, some small business owners take a risk by incorrectly relying on their personal insurance coverage while using vehicles for business purposes. To avoid this and other commercial insurance mistakes, allow the Einstein Insurance team, serving the greater Portland, OR community, to create a commercial insurance plan, including commercial vehicle insurance, to meet your business’s needs.

Commercial Versus Commercial Vehicle Insurance

Commercial insurance protects firms of many shapes and sizes because businesses vary by industry, number of employees, and whether they use motor vehicles in conducting business. Prudent business owners recognize the need for Workers’ Compensation, General Liability, Commercial Property, and similar commercial insurance coverage but sometimes do not address their vehicle usage, believing their personal insurance policy provides coverage when using a personal vehicle for business purposes. However, only commercial vehicle policies cover vehicles:

-Used to transport goods, tools, or people for work-related purposes

-Owned by the company or driven for work purposes

This failure to acquire the correct coverage is especially problematic if employees use personal vehicles for work purposes.

Regardless of your business, take the time to think about your vehicle usage and consider talking with your agent to ensure you fully protect yourself, your employees, and your business. Don’t take the chance to learn after an accident that your personal policy did not provide adequate protection.

Working with Einstein Insurance

Einstein Insurance proudly serves the personal and business communities in the Portland, OR area. Let us help you build an insurance plan to protect your business and livelihood. Drop by or call us today to review your needs and options.

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