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Renee Oliver Insurance Agency, Inc.

13975 Connecticut Avenue, Suite 312
Silver Spring, MD 20906

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What do I need to consider when choosing condo insurance?

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Condo owners need insurance just like any other homeowner, to provide protection for their valuables. At Renee Oliver Insurance Agency Inc. we know that it can be confusing what you may or may not need in that regard.  We’re happy to help you understand what you need to consider when choosing condo insurance and if you want to talk more and are in the Silver Spring, MD area, give us a call. 

Choosing Condo Insurance

Personal Items Valuation

If your possessions are ruined or damaged or in a robbery, your condo insurance may cover them.  You will need to take a good assessment of what property you have, which is done through a home inventory list. Make sure you don’t undervalue the items and list everything from furniture to electronics, the appliances in the kitchen, and everything of value. Jewelry, artwork, etc. especially need to be listed.

To make it a little easier, some great apps can help you do this.

Get Good Asset Coverage

Do you have a pet? Are there things that someone could hurt themselves on? If you are ever in a situation where someone has injured themselves on the property or through your pet, you are at risk for damages. Condo insurance may give you liability coverage. Make sure that you have your assets and your net worth added in so that you are well protected from this type of insurance claim against you.

Living Expenses

What would happen if your condo was damaged? Where would you live? Consider this when choosing your condo insurance, so you aren’t paying out of pocket for any living expenses during a time of repair. We suggest taking in how much your daily expenses are, adding in how much it would be to have shelter elsewhere (plus any additional expenses such as higher-priced meals, etc.), and using that as a baseline.

Give Us A Call

Renee Oliver Insurance Agency Inc. is here for all your insurance needs. If you’re close to the Silver Spring, MD community. we’d love to hear from you.

Who needs umbrella insurance?

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Umbrella insurance is a type of coverage that provides extra protection for your finances in the event of a lawsuit or major accident. While it’s not right for everyone, many people find that an umbrella policy is an effective way to protect themselves from potential financial losses and liability risks. Renee Oliver Insurance Agency Inc, serving the greater Silver Spring, MD community, is here to assist with all your queries. 

If you’re considering purchasing an umbrella policy, here are some things to consider as you weigh your options:

One of the main benefits of umbrella insurance is its broad coverage. Unlike standard car or homeowners insurance policies, which typically only cover certain types of accidents and claims, an umbrella policy can provide protection against most types of claims. This makes it ideal for those who want to be covered for a wide range of possible events, such as accidental injury to someone else, damage to their own property, or legal fees.

Another advantage of umbrella insurance is that it can cover multiple people under one policy. For example, a family could purchase an umbrella policy to cover the costs associated with any accidents or injuries occurring on their property, not just for the homeowner but for anyone visiting or living there as well. This makes it a good choice for those who want extra protection against potential legal issues related to other household members or guests.

Of course, umbrella insurance isn’t right for everyone. For example, someone who has substantial assets to protect might not find it necessary if they have a large home or property, as an umbrella policy may not be cost-effective. Similarly, those who can afford several million dollars in coverage may feel that their standard auto or homeowners policies are sufficient.

Contact Us Today

For more information on umbrella insurance, call Renee Oliver Insurance Agency Inc today. We proudly serve the Silver Spring, MD area.

Life Insurance – The Key to Your Family’s Security

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Do you know that your family will be financially secure when you pass? Would you like to be sure of their security? The Renee Oliver Insurance Agency Inc., serving in and around the Silver Spring, MD area, can provide you with the coverage you need to be sure.

Life Insurance – The Key to Your Family’s Security

How does life insurance work? It is a contract between the policyholder and the insurance company. The insurer promises to pay the designated beneficiaries a sum of money upon the death of the insured. Based on the contract, events such as a terminal or critical illness can also trigger payment. The insured will pay a premium, as one lump sum or on a regular basis. The benefits provided will usually include funeral expenses.

Other reasons to purchase life insurance are for childcare for any younger children in the event a spouse needs to return full-time to the workforce or increase the number of hours they work. It could cover maintenance services for your home, such as landscaping, or house cleaning services.

This benefit could be used for college tuition for older children, or to satisfy a mortgage, so they can live mortgage-free.

In the event they have a substantial savings account, it is unlikely that it would be enough to cover the expenses of a family for several years or decades if a policyholder should pass unexpectedly.

Contact Us Today

Let the insurance professionals at Renee Oliver Insurance Agency Inc. in Silver Spring, MD explain the different types of life insurance you can consider – term life, whole life, or universal life. Don’t leave your family unprotected. The passing of a loved one is difficult. You don’t want them to be faced with financial hardship as well.

Contact us today for a no-obligation quote or any answers to questions you may have. You will be glad you did.

What coverage comes with an auto insurance plan?

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To enjoy all that the Silver Spring, MD area has to offer, you will need to own your own vehicle. If you are looking to purchase a car here, you also need to select the right insurance policy. There are various forms of support that will come with an auto insurance policy in Maryland. 

Coverage to Protect Your Vehicle

A form of coverage that you will receive with an auto insurance plan in this area of Maryland is support to protect your car. If you are going to drive a car here there will be a risk that it is stolen or damaged in an accident. To ensure that you are able to repair or replace it, you should get an auto insurance plan that has comprehensive coverage. 

Liability Risk Mitigation

You also will want to get a full auto insurance plan here to ensure you are able to reduce being named liable for an accident. No matter how careful you are, there is an ongoing chance that you could be at fault in an accident when driving. If this occurs, you will need to cover any damages that the other party incurred. If you continue to carry an auto insurance plan with liability insurance, you will have this support. Additionally, this type of coverage is required to drive a car legally in Maryland. 

Investing in Auto Insurance

If you want to invest in a car in the Silver Spring, MD area, it will be a good idea that you get an auto insurance plan as well. There are many decisions to make when looking for a plan in this part of Maryland and you can call Renee Oliver Insurance Agency Inc. to learn more. The professionals with Renee Oliver Insurance Agency Inc. know the value of this coverage and will help you build your next plan. 

How Commercial Insurance Can Help Your Business When It’s Sued

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No business is safe from the possibility of being sued. Luckily, there are insurance options for business owners who want protection against lawsuits. Renee Oliver Insurance Agency Inc. in Silver Spring, MD is here to help you understand how to secure your business when needed.

Which type of insurance helps protect a business against lawsuit judgments?

Commercial insurance is a type of insurance that helps businesses cover the costs of legal action taken against them. The policy will typically cover any claim made against the insured company. Commercial insurance can help pay for damages, court costs, and legal fees if you are sued and found liable.

Commercial insurance is essential because even if a business is found not liable, it can still be subject to expensive legal fees and court costs. These expenses can quickly add up, especially if the company has many lawsuits involving potential damages over $50,000. Because of this, many businesses buy commercial liability insurance to protect themselves from the high costs of litigation.

There are different kinds of commercial insurance policies available. While some policies provide coverage for bodily injury and others for property damage, others offer both.

What are the other benefits of commercial insurance?

There are many other benefits of commercial insurance. One is that it can assist with a disaster. This can help a business to recover quickly and get back on its feet. Your policy could also help provide temporary help when your business is interrupted due to a disaster, vandalism, or other reasons.

Renee Oliver Insurance Agency Inc. in Silver Spring, MD offers commercial insurance to protect businesses against lawsuits. Coverage includes protection for business owners, employees, and property. Contact our office to learn more!

What’s Covered by My Homeowner’s Policy?

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Your home is likely your most valuable asset, so it’s important to ensure it’s properly protected. A homeowner’s policy is one of the best ways to do this, as it can cover a wide range of expenses related to your home. But what exactly does a homeowner’s policy cover? Consult with Renee Oliver Insurance Agency Inc. in Silver Spring, MD for expert insurance advice on your homeowner’s policy. 

Here’s a look at some of the most common types of coverage:

1. The Structure

One of the most important things your homeowner’s policy will cover is the physical structure of your home. This includes the walls, floors, ceilings, and any other structural components. If your home is damaged or destroyed by a covered event, such as a fire or severe weather, your insurance company will help you pay to repair or rebuild it.

2. Your Personal Property

Another important thing that your homeowner’s policy will cover is your personal property. This includes things like furniture, clothing, electronics, and other belongings. If your personal property is damaged or destroyed by a covered event, your insurance company will help you pay to replace it. However, there are usually limits on how much coverage is available for personal property, so it’s important to check your policy to see what those limits are.

3. Living Expenses

Some homeowners’ policies also cover living expenses in the event that your home is uninhabitable due to a covered event. This means that if you have to stay in a hotel or rent an apartment while your home is being repaired or rebuilt, your insurance company will help you pay for those expenses.

4. Liability Coverage

Liability coverage is another important part of a homeowner’s policy. This coverage will help protect you if someone is injured on your property or if you’re sued for damages. If you’re found liable, your insurance company will help you pay for the damages you owe.

Give Us A Call

These are just a few of the things that are typically covered by a homeowner’s policy. To ensure you have the coverage you need, contact Renee Oliver Insurance Agency Inc. in Silver Spring, MD. We’ll be happy to help you find the right policy for your needs.

What Do I Need To Get Motorcycle Insurance?

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If you’re shopping for motorcycle insurance, you should consider looking at the exclusions and limitations of your current insurance. You can find out more about your current insurance at your insurance provider or online. 

If you have questions about your insurance, get in touch with your insurance agent or choose one of our convenient online customer service centers to get answers. For inquiries, consult with Renee Oliver Insurance Agency Inc. in Silver Spring, MD. 

Motorcycle Insurance: What You Need To Know

You need to have a good idea of what to cover and the cost of the insurance. You can find these by doing a search on any of the websites that offer motorcycle insurance. These websites usually have reviews of all the companies that have provided the insurance, as well as a list of the cost of the insurance. 

If you’re looking to start out as a rider, you can probably cover the basics like helmets, food, and hydration. However, you’ll need to cover more expensive maneuvers like full-face helmets and advanced rider training. 

The most important thing to remember when it comes to obtaining motorcycle insurance is that you need to have the necessary insurance to make sure that you have enough money in the right place to keep up with maintenance and get your motorcycle fixed. 

The best advice is to start out with the lowest amount you can afford and work your way up. If you are still at a point where you cannot afford the cover, understand that most insurance companies will pay up after a certain amount of coverage has been received. 

Give Us A Call

The minimum required amount of liability insurance for motorcycles varies from state to state but is often equivalent to that required for automobiles. In most cases, you will want to ensure that you have enough liability insurance as well as guest passenger liability cover. 

These types of insurance policies will compensate third parties for their injuries and/or property loss if you caused the accident. For expert insurance advice in the greater Silver Spring, MD community, reach out to Renee Oliver Insurance Agency Inc. 

What Condo Insurance Offers

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Your condo complex says you must purchase condo insurance, so you visit Renee Oliver Insurance Agency Inc. serving Silver Spring, MD. You don’t actually know what condo insurance does yet, but you know you have to have a policy so you can move into your new home.

Condo Insurance: A Type of Home Insurance

Condo insurance does exactly what homeowners’ insurance does. This type of home insurance provides protection for the interior of your condominium and its patio or balcony. It includes coverages for:

  • property damage protection,
  • liability,
  • named peril,
  • temporary housing coverage.

Named Peril and Property Damage Protection

If a named peril, such as fire or tornado damages your home, the property damage coverage kicks in and pays for the repairs to the condo. This includes the patio or balcony attached to your condo. If you store items in a storage unit assigned to your condo on the property and it incurs damage, thereby damaging your property, that’s covered, too.

Liability Coverage

The medical care and settlement paid to any individual who incurs an injury while at your home also falls within the coverage of your condo policy. If the individual sues you, the liability coverage pays the court costs, attorney fees, and the court settlement, too.

Temporary Housing Coverage

Some condo policies also offer payment for temporary housing if a named peril damages your condo to the point that you cannot safely stay there. The housing payments last for the time that repairs take place.

Contact Renee Oliver Insurance Agency Inc.

Let Renee Oliver Insurance Agency Inc. serving Silver Spring, MD help you fulfill your condo complex’s condo policy requirement. Call us today.

Do You Need Umbrella Insurance?

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Most people don’t give much thought to their insurance coverage until they experience a loss. Then, it’s too late to add coverage. That’s why it’s important to understand the limitations of your insurance policy and whether you need additional protection. After all, your home, renters, and auto insurance policies all have limits. If you experience a major loss, those limits could quickly be reached, leaving you responsible for the remainder. That’s where umbrella insurance comes in.

Umbrella insurance is designed to provide protection beyond the limits of your homeowners, renters, or auto insurance. It kicks in when you’ve reached the limit on your other policy and can help pay for things like medical bills, legal fees, and damage to property. In some cases, umbrella insurance can even provide coverage for certain types of lawsuits that wouldn’t be covered by your other insurance policies. Renee Oliver Insurance Agency Inc. in Silver Spring, MD provides you with this guide on navigating umbrella insurance. 

How It Works

For example, let’s say you’re found responsible for a car accident that resulted in $100,000 in damages. Your auto insurance policy has a $50,000 limit for bodily injury liability. That means your insurance company would pay up to $50,000 toward the damages. The other driver could sue you for the remaining $50,000, and you would be responsible for paying that amount out of pocket.

If you had an umbrella policy with a $1 million limit, it would pay the remaining $50,000, so you wouldn’t have to.

An umbrella policy can also provide coverage for certain types of lawsuits that wouldn’t be covered by your other insurance policies. For example, if you’re sued for libel or slander, your homeowner’s insurance policy likely won’t provide any protection. But an umbrella policy would.

If you’re looking for extra protection beyond the limits of your homeowners, renters, or auto insurance policy, Renee Oliver Insurance Agency Inc. in Silver Spring, MD can help you get the coverage you need. Give us a call today to learn more about umbrella insurance and how it can help protect you from major financial losses.

 

Why You Need Full Coverage for Your Silver Spring MD Auto Loan

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Do you have a car loan in Silver Spring, MD? If so, you need full coverage auto insurance.

Here are three big reasons:

1) Reduce Risk for Your Lender

If you have a loan on your car, the lender is the vehicle’s legal owner until you pay the balance in full. That means if your car is totaled or stolen, the lender is out of the money they lent you—and they will want that money back. Full coverage auto insurance protects your lender’s investment and you from paying the entire loan amount if something happens to your vehicle.

2) Get Back on the Road Faster in an Accident

If you’re in an accident and they deem your car a total loss, the insurance company will pay off your loan, and you can get a new loan if you still qualify. Without full coverage, you would have to come up with the money to pay off your loan yourself. That could take months or even years, depending on how much you owe.

A Renee Oliver Insurance Agency Inc. agent can help you find the right policy to get back on the road as soon as possible after an accident in Silver Spring, MD.

3) Stress Less When You’re On the Road

The peace of mind that comes with knowing you’re fully protected is priceless, no matter what happens. When you have full coverage, you can relax and enjoy the ride—without worrying about what could happen.

Full coverage auto insurance is a must if you have a car loan in Silver Spring, MD. It protects your lender and gives you the peace of mind to enjoy your car. Contact Renee Oliver Insurance Agency Inc. today to get started on your policy.