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Home Insurance Myths Debunked: What You Need to Know Before Buying a Policy

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Navigating the realm of home insurance demands a discerning approach. Amid the plethora of information, certain myths linger that can cloud your judgment. Unfortunately, these myths cause people to make mistakes when it comes to purchasing home insurance policies. Here at Einstein Insurance, providing residents in the greater Portland, OR area with home insurance, we want to help dispel some common myths.

Home Insurance Myths 

Myth 1: One-Size-Fits-All Policies

Fact: Home insurance is not a uniform entity. Each policy can be tailored to align with your unique needs. From coverage limits to additional endorsements, customization ensures your policy safeguards what matters most to you.

Myth 2: Home Value Equals Coverage Amount

Fact: While home value is a factor, it doesn’t dictate your coverage amount. Home insurance should account for the cost of rebuilding your home, including materials and labor, in the event of a catastrophic loss.

Myth 3: Natural Disasters are Fully Covered

Fact: Not all natural disasters receive equal coverage. While standard policies encompass certain perils like fire, windstorms, and hail, others like earthquakes and floods may require additional endorsements or separate policies.

Myth 4: Personal Belongings Are Fully Reimbursed

 Fact: While home insurance covers personal belongings, it’s subject to coverage limits and deductibles. High-value items like jewelry or art might require additional endorsements to ensure adequate coverage.

Schedule A Consultation Today!

Tailoring your policy to your specific circumstances and understanding the nuances of coverage ensures that your investment in home insurance provides the security and protection your home truly deserves. When you’re ready to get professional help purchasing a home insurance policy in the greater Portland, OR area, Einstein Insurance is here to help you. Reach out to us now.

Anticipating Insurance Needs For A Food Cart

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While you’re enjoying the amazing barbecue meal you just got at a popular food cart, you aren’t wondering if the proprietor has insurance. Not many people wonder if their neighborhood ice cream truck, hot dog vendor, or the concessions at their kids’ softball and soccer games are insured. Trust us, they are. Our team at Einstein Insurance is here to explain to Portland, OR business owners why.

Why You Need Food Cart Insurance

The Heat Is On

Remember, food sitting in the heat during summer contracts all sorts of things. Spoilage and contamination are only two examples. Another is the power going out, causing your food to enter the danger zone.

The Action

Of course, you know that employees should be covered by workers’ comp by law. Add to all this that some bozo who decides racing your food cart on the street would be a blast could cause unimaginable damage. Einstein Insurance of Portland OR will help cover you for all this and more.

The Street

Remember that a food cart is not only a business; it’s a vehicle. You’ll need commercial auto insurance as well as business insurance. Ordinary liability will take care of the person accusing you of food poisoning (it’s up to them to prove it, so rest easy – we know you’re good to go) in addition to reputational damage (and this is the most important one.) Make sure you can prove your recipes are your recipes and not someone else’s.

Make sure you’re covered for breakdowns. We don’t mean the truck stops running. We mean if the stove breaks down or an unexpected power surge fries your equipment. Your commercial auto policy might not include this category, so first ask and then get a rider to cover mechanical breakdowns.

We Are Here To Help

We at Einstein Insurance in Portland, OR enjoy dining from food carts, too. We get it. Stop in or call to learn how we can help protect your food cart business – we are happy to help.

Three things you should know about bonds insurance

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Bonds insurance is an important type of coverage to understand for those who are interested in investing. Einstein Insurance can provide you with the information you need about bonds insurance in Portland, OR.

The following are three things that you should know when it comes to bonds insurance:

Bonds insurance can be paid for in a lump sum or in installment payments.

Bonds insurance is made more affordable thanks to the fact that a policy can be paid for on a monthly basis to avoid having to make a large lump sum payment.

Installment payments can make it easier to budget for the costs of bonds insurance. However, some bonds insurance providers charge lower premiums if an entire policy is paid for in a lump sum rather than in installments. 

Bondholders can avoid losses due to defaults with bonds insurance.

A bonds insurance provider will pay out on a claim if a default leads to financial loss for those who invest in bonds. This makes it so that bonds insurance is a risk management tool.

When a company carries bonds insurance, investors in that company enjoy a guarantee that this company will meet the terms of investment contracts. 

Carrying bonds insurance makes it easier to attract investors.

Bonds insurance helps to mitigate much of the risk that goes along with investing. This makes it easier for financial services companies to attract investors in many cases. If the risk is minimized, inventors are generally more willing to invest. 

We Are Here To Help

If you have questions about bonds insurance or are looking for a bonds insurance provider, we can come to your assistance at Einstein Insurance. Get in touch with us today to get the information you need on bonds insurance in Portland, OR. 

Protect Your Business With Contractors Insurance

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At Einstein Insurance, we understand that your business is your livelihood. As a contractor in Portland, OR, you must protect it with the right insurance. Here’s why you need contractors’ insurance and how it can protect your company and a good name in your industry.

What is Contractors Insurance?

Contractors insurance is a policy that protects contractors and their businesses against claims made by customers, employees, or third parties. The procedure typically includes general liability, Workers’ compensation, commercial auto, and property insurance. For contractors in Portland, OR, having contractors’ insurance is critical to protecting their business.

Why Do Contractors Need Insurance?

Contractors engage in high-risk activities that expose them and their businesses to lawsuits or damages. Without contractors’ insurance, you’ll be liable for any injuries or property damage from your work. This can lead to significant financial losses, lawsuits, or bankruptcy. By having this coverage, you’ll have peace of mind knowing that you’re protected against these risks.

How Can Contractors Insurance Protect Your Business?

Contractors insurance can protect your business in several ways. General liability insurance covers bodily injury, property damage, and advertising injury claims. Workers’ compensation insurance covers any injuries your employees sustain while working. Commercial auto insurance covers the cost of damages to your vehicles and any damages resulting from an accident. Property insurance protects against damage or loss of property, including your tools and equipment.

Contact Einstein Insurance Today

As an experienced insurance provider for businesses in Portland, OR, Einstein Insurance understands the specific risks that contractors face in their business. That’s why we offer comprehensive contractor insurance policies tailored to your business needs. Contact us today to learn how we can protect your business with contractors’ insurance.

What is Employee Practices Insurance?

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Employment practice refers to a company’s hiring protocol, employee management, and workplace conditions. There are a number of issues that could arise in a workplace setting, including discrimination, sexual harassment, or low wages. A worker might experience personal injury from an on-the-job accident, like a vehicle crash or a slip on the stairway. Regardless of the cause, many workers end up suing employers based on employee management.

If you’re a Portland, OR area-based employer, here is how you can find legal protection from Einstein Insurance.

What is Liability Insurance?

Liability insurance is the kind of coverage that protects the customer from legal situations. Employee practices often cross over with liability due to the fact that many employees opt to sue their employers over workplace conditions.

Employee practices liability insurance (EPLI) is a niche field that specializes in covering employers who are being sued over workplace practices. This kind of insurance will cover legal fees, including any medical bills or lawyer payments that you incur while in court. At Einstein Insurance, our team will help pay for legal situations involving the following:

  • wrongful termination
  • workplace injuries
  • unfair wages 
  • unpaid leave disputes
  • hostile work environment
  • discrimination based on sex, rage, age, or disability

Once you’ve made a claim for employee practices, an insurance agent should help you through this process with what to do. 

Reach Out To Us

Looking for quality employee practices insurance in Portland, OR? Feel free to contact Einstein Insurance for more information. Our team would be happy to schedule an appointment for you right away. In addition to employers, our agency provides insurance services for auto owners, homeowners, renters, contractors, and business owners. 

Who Needs Cyber Liability Insurance?

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You’ve undoubtedly seen the recent breaking news about largescale companies falling victim to cyber security breaches. If it happened to them, it could happen to you, too, and it would be an awful experience for both you and your customers. Einstein Insurance is here to provide Portland, OR entrepreneurs with coverage that can best protect their businesses against such attacks. 

Why Cyber Liability Insurance? 

Any place of business should prioritize protecting themselves and their customers’ information. A recent study found that 43% of cyber-attacks target small businesses. Most companies can be subject to cybercrime. You don’t want to leave yourself vulnerable to a damaging data breach.

Cyber liability insurance protects a business against financial losses caused by incidents related to network breaches and other cybersecurity issues.

Cyber liability insurance can be a vital protection to have in place for businesses that:

  • Sell goods or services online
  • Store important data virtually
  • Have a large customer base
  • Earn high revenue
  • Retain valuable digital assets

Without proper protection in place, you could be inadvertently exposing yourself and putting your customers at risk. It can be difficult to rebuild trust and recuperate lost income after a breach. The bottom line is you’ll want to have cyber insurance if you handle customer data or store information about your business online. Cyber liability insurance can safeguard your information from:

  • Data breaches
  • System hacking
  • Computer viruses
  • Phishing scams
  • Cyber security attacks
  • Compromised networks
  • Ransomware extortions

If any of these seem like acute concerns for you or your business, it could be worth further researching cyber liability insurance. Once you decide, make sure to find an insurance provider with experience in cyber liability insurance to put yourself in the best position against a costly cyber-attack.

We Are Here To Help!

To help your business find the best policy, contact our experts at Einstein Insurance. We proudly serve the Portland, OR business community.

Three things you need to consider when buying boat insurance

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Getting boat insurance is important. As a boat owner in Portland, OR, you need to purchase boat insurance and consider all the relevant factors that impact your insurance requirements before selecting a policy.

Einstein Insurance offers boat insurance policies that can meet their unique needs.

The following are three things you need to consider when you buy boat insurance:

The number of operators who will be regularly operating your boat

Your insurance provider should know who is operating your boat. Insurance providers want to see the driving records of all the boat operators they put on their boat insurance policies. 

The layup period during which your boat will be in storage

The winter in Oregon is typically cold, and boat owners usually keep their boats in storage during the winter months. The layup period refers to the time when a boat is in storage. 

Your insurance provider may adjust coverage and premium costs for layup periods in your boat usage schedule. You don’t face the same risks when your boat is in storage, so it’s best to have your insurance coverage adjusted accordingly. 

The total value of your boat

A boat insurance policy should insure a boat owner for the full value of his or her boat. That’s why you should determine the total value of your boat. 

You can request a replacement value boat insurance policy that will insure you for the full cost of buying a new boat if your boat becomes destroyed. 

Give Us A Call

We’re here to help you get an insurance policy to meet your needs. If you’re a boat owner in Portland, OR and surrounding cities, you can get in touch with Einstein Insurance so that we can provide you with a policy quote. 

Who should get an umbrella insurance policy?

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Umbrella insurance policies are an important kind of coverage for anyone who owns assets and wants to ensure their financial security in the event of a large claim or legal lawsuit. Whether you are an individual, business owner, or homeowner in the Portland, OR area, umbrella insurance from Einstein Insurance can provide an extra layer of financial protection beyond your existing liability coverage. 

Benefits of Umbrella Insurance

An umbrella insurance policy is designed to protect you from certain types of costly lawsuits and large claims that exceed your basic liability coverage. These policies are typically sold in increments of $1 million and can provide a financial cushion should you be found liable for damages related to property damage, personal injury, libel or slander damages, or other incidents. 

For individuals, it’s important to consider how much your net worth is before deciding if an additional policy is necessary. If the amount at stake exceeds your current liability limit, then umbrella insurance might be worth considering. Similarly, business owners should take into account the value of any assets owned by the company as well as any potential liabilities, including claims related to product defects or negligence on the part of employees.

Homeowners may also benefit from having an additional layer of protection with umbrella insurance due to risks associated with owning property and being responsible for any accidents that occur on their premises. This type of policy isn’t just for those who have high net worth either; even if you only have basic homeowners insurance coverage and few assets, it could still be beneficial to purchase an umbrella policy in case someone brings a claim against you for millions in damages. 

Give Us A Call

For more information, call Einstein Insurance today. We serve the Portland, OR area. 

5 benefits of having a life insurance policy

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Few understand the importance of life insurance. According to the Life Insurance Marketing and Research Association (LIMRA), nearly half of all U.S. consumers are without even basic coverage. Their most recent report, "Facts About Life 2021," details the misinformation and misconceptions that surround life insurance.

Luckily, Einstein Insurance is willing to set the record straight. Serving the greater Portland, OR community, we understand how valuable life insurance is at every stage of life.

Here are the top five benefits of purchasing a life insurance policy:

Protect your family

Life insurance isn’t for you. The main purpose of these policies is to protect your loved one. After you pass, life insurance will continue to provide for your family.

Replace lost income

In LIMRA’s report, 42% of those surveyed expressed financial hardships if a wage earner were to pass unexpectedly. Life insurance helps fill this gap, supplementing lost wages and minimizing this burden.

Pay off debts

Bills won’t stop just because you’re gone. To prevent them from piling up, the payout from a life insurance policy could go towards a mortgage, loan, or other outstanding expenses.

Cover burial costs

This is the main reason individuals purchase life insurance. In fact, 83% of all participants in LIMRA’s survey cited this as their sole motivation for owning a life insurance policy.

Added financial security

There’s no price tag on peace of mind. Life insurance is a security blanket, shielding you, your spouse, and your children from the unexpected and the unpredictable.

Contact Us Today

Einstein Insurance in Portland, OR is here for more than just education. In addition to busting these myths, our dedicated team can create a personalized life insurance policy that’s right for you and your family. Call to set up an appointment today.

4 Tips You Must Know Before Shopping for Auto Insurance

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When it comes to insurance, you need to get it right from the word go. Buying insurance, however, can be a challenge, especially if you’re buying it for the first time.

Auto insurance can be confusing with the many available coverage options and insurance agents. You need to understand that the right auto insurance can make the difference between financial ruin and solvency when in an adverse mishap. Einstein Insurance is here to provide Portland, OR residents with a guide. 

The following tips can help you shop for the best auto insurance:

Know what determines auto insurance premium

When buying your auto insurance, you must know that there are different factors that determine your auto insurance rates. Some factors include your driving record regarding violations and accidents caused, where you live, previous coverage, age, and how often you use your car. For example, the more claims, the higher the premium rate

Know how much car insurance you need

How much auto insurance you need depends on your individual needs. First, you must buy the minimum liability coverage required to be on the road. However, the minimum liability may not be enough, and you may need to purchase a higher liability claim. Liability coverage may not be enough, and you might want to consider other auto insurance coverage to enjoy complete protection.

Know the types of auto insurance coverage

Auto insurance comes with different coverages, all available to suit your requirements. Knowing how each type protects you will help you decide which coverages work for you. Besides liability coverage, others include collision, comprehensive, uninsured, and underinsured medical payments coverage, and much more.

Know your insurance agent

Before choosing an insurance agent, please get to know them better. You can do this by comparing different quotes and policies. You get to learn more about the company, for example, its financial ratings, complaint record, and recent rate changes.

Get The Right Coverage Today

With the above tips, you can get the right coverage and save money. Ready to purchase auto insurance in Portland, OR? Contact Einstein Insurance for an affordable quote.

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