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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.

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. 

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