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Renee Oliver Insurance Agency, Inc.

13975 Connecticut Avenue, Suite 312
Silver Spring, MD 20906

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Protect your family with a whole life insurance policy

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The Renee Oliver Insurance Agency Inc. is here to help families and individuals in the greater Silver Spring, MD area with all of their life insurance needs. If you wonder which type of life insurance is the appropriate choice for your lifestyle, we can help! In this article, we will look at the benefits of whole life insurance policies.

Benefits of whole life insurance

With a whole life policy, you will receive a death benefit as you will also build up a cash value within the policy. The main advantage of whole life policies is that you can access the cash portion of the policy during your lifetime. 

If you are looking for alternatives to a term life policy, whole life may make sense for you and your family. Many people choose to access the accumulated cash value of their whole life policies once their children are grown. When one’s children have grown and become financially independent, a parent may choose to access the funds that have grown within their policies. 

Significant life expenses, such as a house down payments, college tuition, weddings, and retirement, can be defrayed with the funds from a whole life policy. Of course, it is also possible to leave the funds to be passed on to the policyholder’s beneficiary.

Now is a perfect time for you to find out more about the available life insurance options in our area. 

Learn more today!

If you are a resident of the greater Silver Spring, MD area, Renee Oliver Insurance Agency Inc. can help you with all of your insurance needs. Please stop by our office and learn more about the whole life insurance policy options available in our area.

Determining Coverage for Your Business

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When it comes to insuring your business in Silver Spring, MD, there are some commercial policies that will benefit every business and some that will benefit certain types of businesses or industries. Even if you are just starting out, it’s imperative to get the right insurance for your business.

General liability insurance is recommended for every business since it provides protection against common customer incidents, such as property damage, bodily injuries, or advertising injuries. Any accident can lead to big legal bills, which is why this policy is so important to have. Other liability policies can also be needed, such as professional liability insurance if you provide professional services to clients. 

The risk for your business will determine what other policies you need. An agent at Renee Oliver Insurance Agency Inc. can help you determine your risks and the best policies for your business. If your business has valuable property then you may want commercial property insurance, since this covers your physical assets against damage or loss. If you have a small business and are in a low-risk industry, you may be able to bundle commercial property insurance with commercial liability in a business owner’s policy. These two policies address just the bare bones but it’s important to consider your location, operations, and industry when building a policy.

If you have employees, you will want to have workers’ compensation insurance and it’s required for businesses in Silver Spring, MD. Workers’ comp insurance will cover on-the-job employee illnesses and injuries. If you have business-owned vehicles then you should have commercial auto insurance. If you have a large online component for your business then cyber liability insurance can protect you from costs associated with data breaches and can cover notification costs, legal expenses, and credit monitoring. 

Contact Renee Oliver Insurance Agency Inc. to get a quote for commercial insurance. 

Home inventory: 5 Steps for finding the right home insurance coverage in Silver Spring, MD

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"How much home insurance do I need?"

Renee Oliver Insurance Agency Inc. gets asked this question often. While there are a lot of variables to consider, the answer starts with a home inventory.

A home inventory catalogs your belongings. In the event you need to make a claim, this document will speed up the process and help maximize your payout. But it also ensures you have the proper protection from the start.

That’s why Renee Oliver Insurance Agency Inc. recommends beginning here before purchasing home insurance. Located in Silver Spring, MD, their agents list five steps for conducting a thorough home inventory.

Organize each area

Avoid getting overwhelmed by dividing your home into sections. Complete one area before moving on to the next. Find a process that is easiest for you.

Record key information

Include descriptions of each item, purchase dates, and estimated prices. Also, for appliances and electronics, jot down makes, models, and serial numbers too. Scanning or taking pictures of sales receipts is encouraged.

Group like items

Save time by lumping similar items together. Low-cost goods, like clothing and dishes, are too time-consuming to list one by one. Assign a value to the entire group

List expensive items individually

However, all high-end valuables should be listed separately. Jewelry, antiques, and other collectibles may require additional coverage beyond traditional home insurance. Consult with an agent to ensure these will be covered.

Update frequently

This list should grow as you make more purchases. At a minimum, review the home inventory every year. Add in any new items. Update your digital records, but also store a backup copy somewhere safe.

Find an agent serving Silver Spring, MD

Using your home inventory, Renee Oliver Insurance Agency Inc. can better determine how much home insurance coverage you need. Schedule an appointment today.

Umbrella Insurance FAQs

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Liability insurance is included in your homeowner’s, automobile, boat, and renter’s insurance. In other words, you are covered if you are found responsible for an accident. However, in the event the losses of the other party exceed your policy’s limits, the difference could come directly out of your pocket. This could leave you bankrupt. In situations like this, umbrella insurance can be beneficial. Here are some commonly asked questions Renee Oliver Insurance Agency Inc. has had, along with their answers, for Silver Spring, MD residents.

What Exactly Is Umbrella Insurance?

Look at umbrella insurance as a backup to your standard liability coverage that can work with all of your insurance policies. In the event that the damages of an incident exceeds the limits of your policy—be it home, auto, or commercial—your umbrella insurance policy will kick in, take over, and cover the difference.

What Does Umbrella Insurance Typically Cover?

Umbrella insurance is designed to provide coverage for the difference between the liability limits of your insurance policy and another party’s losses. Therefore, if you are found at-fault for an accident that resulted in $150,000 in damages and only have $50,000 in liability coverage, your umbrella insurance would cover the remaining $100,000.

What Happens If I Don’t Have Umbrella Insurance?

If you don’t have umbrella coverage, you could potentially be held liable for any damages that go over the limits of your existing liability coverage. The other individual could sue you for their losses, potentially taking your home, savings, retirement fund, and other assets.

Insurance can offer much-needed peace of mind, and umbrella insurance adds even more to that. If you would like to learn more, reach out to us at Renee Oliver Insurance Agency Inc. We have helped many residents of the Silver Spring, MD and can help you as well!

How much life insurance is enough?

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One of the most common questions that get asked about life insurance is how much is enough. It would be great if there was a single answer, but unfortunately, there isn’t. Life insurance is a very personal thing and it is different for everyone. By talking to your independent insurance agent, you can get suggestions for ways to make sure you have the right coverage. In Silver Spring, MD, Renee Oliver Insurance Agency Inc. can give you the assistance you need. 

You need enough life insurance to make sure the ones you leave behind will be taken care of. That amount will not be the same when you are 25 years old as it will be when you are 45 years old. At 25, chances are you won’t be responsible for anyone other than yourself. You will only need a minimal amount of life insurance. 

Once you have people who depend on you, you need to have a different level of life insurance. Especially if you have children, you may have to provide for them for 20 years. How much money that will require depends on what your spouse or partner provides and what you will need to provide. You need to take a good look at what the future looks like without you there. 

Do you have a mortgage? Do you want your kid’s college paid for? Is your spouse a stay-at-home or working person?  Social Security will provide for the children until they are 18 with monthly payments, but would that be enough to keep them in their current home? Sit down and play with the figures. At least 7-10 years of your income is what experts suggest.  Only you can decide if it is enough or if you need more or less. 

Contact Renee Oliver Insurance Agency Inc. in Silver Spring, MD to talk about your life insurance needs. 

Four Tips to Help You Photograph an Auto Accident for Insurance Purposes

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When you have been involved in an accident in Silver Spring, MD, one of the most crucial steps you should take is to take as many photographs of the scene as possible. These photos will eventually serve as important evidence when you file an auto insurance claim with us at Renee Oliver Insurance Agency Inc. Here are a few tips to help you take solid pictures for insurance purposes.

Make Sure You Capture All the Damage

When taking photos after an accident, it is imperative that you get a picture of all of the damage. This includes deployed airbags, broken windows, dented fenders, etc. You want pictures of all the damage on the inside and outside of the vehicle. Don’t forget to get pictures of the road debris as well. Your injuries count too! Ultimately, these photos will help ensure your claim is calculated correctly.

Take Photos from Various Angles

To ensure you are thorough, you will want to ensure that the photos you take are taken from a variety of different angles. This will make it harder for someone else to argue against your photographic testimony. In addition, you will want to ensure that you have close-up images that fully capture how severe the damage is.

Utilize Different Settings

When using your phone or camera to take photos, make sure to take pictures with and without the flash. It isn’t uncommon for a photo to have a glare or shadows, but if you take multiple shots in different lighting forms, you may find that one has a clearer view. This is particularly important if the accident itself occurred at dusk.

Need to File an Auto Insurance Claim in Silver Spring, MD?

Whether you need to ensure you’re properly covered in the event of an accident, need to file an auto insurance claim, or need more tips for taking appropriate photographs for your insurance claim, contact the professionals at Renee Oliver Insurance Agency Inc.

Required Commercial Insurance in Maryland

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If you are the owner of a Maryland business, you need to have certain commercial insurance policies to protect your business. There are two types that the state requires of most businesses in the state. If your company meets the requirements for one or both of these insurance policies, it’s important to get it right away so that you aren’t hit with fees and fines. Give us a call at Renee Oliver Insurance Agency Inc. in Silver Spring, MD.

Workers’ Compensation

In Maryland, every business that has at least one employee must have workers’ compensation insurance, even if it is just one part-time employee. With this coverage, you and your employee are protected against the costs associated with an accident or illness that an employee has at work. It protects you by paying for the medical bills and lost wages that are needed after an employee accident. It protects your employee by making these funds available when they are needed, so there’s no need for the employee to sue your company. There are a few exceptions to this rule, so talk to an agent about whether this coverage is required for your business.

Commercial Auto

If your Maryland business owns a vehicle, that vehicle has to have a commercial auto policy on it. This is mandated no matter what the type of vehicle it is. The policy must have a certain minimum amount for bodily injury liability for one person who is injured and a different amount for all of the bodily injury liability from an accident. There is also an amount required for property damage liability. 

Protect Your Business

To get the types of commercial insurance policies that you need, and some that aren’t required, give us a call at Renee Oliver Insurance Agency Inc in Silver Spring, MD.

Why You Need Home Insurance

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Home insurance is a type of insurance that is vital for all homeowners to have. It provides a number of important coverage types to protect you and your finances. If you need home insurance, contact us today at Renee Oliver Insurance Agency Inc. in Silver Spring, MD.

To Protect Your Home

For most people, their home is by far their biggest investment, and home insurance is there to help protect it. If a serious incident such as an accident or disaster causes damage to your home, getting it repaired can be very expensive. That’s where home insurance comes in. It can pay for the damage that was done so that you won’t have to. It is valuable coverage that every homeowner needs to protect their investment. 

Protecting Your Possessions

Chances are that all of your belongings are there in your home. If you were to lose them, it could cost almost as much as your home to replace them all. That’s where home insurance comes in. It pays for damage done to your belongings in an incident that is covered by the policy. These often include various accidents and disasters. It would be very difficult to pay to replace everything without help from this policy. 

Covering Your Liability

Another way that home insurance protects you is to cover you in liability cases. If a third party came into your home and then had an accident or developed an illness there, the resulting medical bills could be yours to pay. With the rising cost of medical bills, it’s always a good idea to have this coverage in your home policy. 

Cover Your Home

To protect yourself against a number of expensive situations, you need to have a home policy in place at all times. To find out more about them, give us a call at Renee Oliver Insurance Agency Inc. in Silver Spring, MD.

Motorcycle Insurance in Maryland: Tips for Defensive Driving on the Roads

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Motorcycle riding is one of the most liberating, but also the most unforgiving experiences on the road. You don’t need to be told you have to be careful. There is a reason they are called accidents when it happens. When you’re in that situation, it’s easy to lose all sensibilities and correct a problem before it becomes a disaster.

At Renee Oliver Insurance Agency Inc., we want Silver Spring, MD motorcycle riders to be the best drivers they can on the road. Use defensive driving tips to help you feel more secure when you are out there enjoying your freedoms on your bike.

Plan The Trip

When you are going on long trips with your bike, make sure that you plan every element of it. It only takes a second on your bike to create a collision. If you are at a light wondering where to turn, you’re not thinking about what might be coming at you or beside you at that moment.

That second could be a disaster. Know where you are going and how you are getting there every time.

Maintain Speed and Distance

Driving too fast is tempting when you are on a bike, but it is also costly when it comes to collisions and moving violations. Maintain your speed when you are driving. Car drivers aren’t able to predict what your bike will do with instant accelerations the way you can. They are reacting to these situations as much as you are.

Keep a safe following distance when you are riding as well. When there is less to hit you, there is less to hit you. If you give yourself a 2-second lead time and space behind and around other vehicles, you’re driving defensively.

Keep Your Eyes on the Road

This goes without saying but is worth saying. Minimize distractions from your phone or alcohol, and stay alert when you are on the road. 

Bike riders should be moving their heads at all times to gauge what is around them and when. This is defensive driving with your motorcycle.

Get a Quote

When you are driving your motorcycle, maintain defensive driving techniques at all times. They are proven to prevent accidents and keep motorcycle insurance rates down. At Renee Oliver Insurance Agency Inc., we want Silver Spring, MD residents to feel secure on the roads. Call us for a quote today.

Why do you need condo insurance in Silver Spring?

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Those that are in the Silver Spring, MD area will find that the city offers a lot of local amenities, access to a major city, and a lot of great employment opportunities. Due to this, it is also a great place to own a home. When you would like to buy a property here, investing in a condo can be a good option. Along with your condo, you need to have condo insurance. This coverage is needed for a few reasons.

Insurance is an Association Requirement

A reason that you will need to have a condo insurance plan in this area is that it will be a requirement set forth by a condo association. Condo owners typically are part of a larger community and association. These associations are designed to protect all the owners in the community. One way this is done is by requiring all owners to maintain condo insurance, which will give coverage if a mechanical challenge or leak in your unit causes damage to another owner’s property. 

Insurance is a Lender Requirement

Many Maryland condo owners will also take out a loan when they buy their condo, which can come with insurance requirements. Your condo insurance plan is going to be required until the loan is paid off entirely. Some lenders will require you to provide evidence of coverage and establish a payment escrow account. 

As you are looking for a new condo in the Silver Spring, MD area, it would be helpful for you to speak with Renee Oliver Insurance Agency Inc. The team with Renee Oliver Insurance Agency Inc. understands the value of this type of coverage. They can ensure that you are aware of your insurance options and can help you build a plan that protects your condo fully.