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Renee Oliver Insurance Agency, Inc.

13975 Connecticut Avenue, Suite 312
Silver Spring, MD 20906

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What Does Condo Insurance Fail to Protect?

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Whether you’re investing in a condo for the first time or looking to maximize your coverage and protection, understanding condo insurance policies is essential. While a standard HO-6 condo policy protects you from most incidents, it’s essential to consider potential areas that may require additional coverage. At Renee Oliver Insurance Agency Inc. in Silver Spring, MD, we’re here to help our clients safeguard themselves and their belongings in condos year-round with the right policies in place.

What’s Not Covered with Standard HO-6 Policies

Here’s what is not covered by standard HO-6 policies for condo owners in Maryland:

  • Flood/Surface Water: Flooding and surface water issues are not covered by standard condo insurance policies. Condo owners may want to consider a separate private flood contents policy or an NFIP (National Flood Insurance Program) policy if they live near a creek with common overflow issues.
  • Earth Movement: If you’re near sinkholes, land cracks, or if you believe you’re at risk of earthquakes, you may consider optional earth-movement coverage for optimal protection.
  • Sewer/Drain Backup: Sewer lines and drain backups aren’t covered by standard policies and may require an added water-backup endorsement.
  • Building-Code Upgrades: If you’re required to invest in new drywall or sprinklers around your home or condo, you may require an ordinance or law rider to fill the gaps.

Understanding the limitations of a standard HO-6 condo insurance policy is crucial anytime you’re moving into a condo for the first time or are interested in adding protection to your investment. If you’re a condo owner in Silver Spring, MD, reviewing your policy is a way for you to determine if you require additional exemptions, riders, or add-on policies as well. To learn more about your current policy and to determine if you require added coverage for a sense of security, contact Renee Oliver Insurance Agency Inc. today.

Becoming a Landlord? Here’s Where Umbrella Insurance Comes in

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Real estate is a lucrative investment, but it also comes with a significant amount of risk. Attempting to generate recurring income from rental properties can be challenging if you aren’t safeguarded against unforeseen issues, such as personal injuries on the property, natural disasters, or accidents like fires. You’ve likely already purchased insurance, but will that be enough? What can you further do to protect yourself and your investment? Umbrella insurance is likely what you’ll need to help you maintain your assurance. Discover what umbrella insurance can do for you and how you can get the coverage you require for your business with the team here at Renee Oliver Insurance Agency Inc. in Silver Spring, MD.

Why Should Landlords Have Umbrella Insurance?

Umbrella insurance is not a type of insurance that protects you from anything. Still, rather than supplementary insurance that is designed to offer you coverage should the costs exceed what your original policy is able to cover. Some people may not need umbrella insurance. For example, if you have comprehensive auto coverage for your vehicle, you already have the coverage you need to protect yourself against anything that might happen. But if you’re a landlord with homeowners insurance, you may worry that severe injuries, significant property damage, or other developments could exceed what your policy will pay out. Adding umbrella insurance will help you cover those costs should your fears be realized, protecting your business and allowing you to move forward with ease. If you have property insurance but not umbrella insurance, this is a good reason to invest in the latter.

Protect Yourself With Umbrella Insurance Today

For comprehensive coverage, turn to Renee Oliver Insurance Agency Inc. in Silver Spring, MD. We’ll help you find the right umbrella insurance policy to protect your assets. Contact us today!

Can You Get Life Insurance With Poor Health or Terminal Illness?

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Discovering that you have a chronic condition or a terminal illness can be life-changing. Receiving that news often comes with the desire to get your affairs in order so that your dependents and your spouse (if applicable) are able to get the financial support they need after your passing. One such policy that you may be interested in is life insurance. But can you get life insurance coverage when you’re in very poor health or when you’re expected to pass soon? Let’s examine the complexities of trying to get life insurance while in such health and how you can get the support you deserve from us here at Renee Oliver Insurance Agency Inc. in Silver Spring, MD when you’re seeking life insurance.

Is It Possible to Get Life Insurance When You’re in Poor Health or Have a Terminal Illness?

It’s important to know upfront that getting life insurance when you’re in poor health or have a terminal illness can be extremely difficult. That being said, it’s not impossible. One way to get life insurance is to forego the medical exam that is often required for life insurance. You may not get the exact policy you want this way, but it can help you get coverage. Another choice is funeral or final expense life insurance. These types of life insurance are designed to help your loved ones cover immediate costs resulting from your passing. Just make sure to temper your expectations, as you will likely have to pay higher premiums and receive lower death benefits when you are extremely ill.

Explore Your Options With Renee Oliver Insurance Agency

Dealing with a chronic illness or terminal illness and attempting to get life insurance can be challenging. Allow us to help you simplify the process. With Renee Oliver Insurance Agency Inc. in Silver Spring, MD, we’ll help you locate and compare plans to fit your unique circumstances best. Compare quotes with us now to get started!

Is Your Car Covered if It Gets Flooded?

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In 2024, flooding was one of the most frequent natural disasters in the United States, causing significant damage to homes, belongings, and vehicles. While home and flood insurance often take center stage in these situations, auto insurance can also play a crucial role. However, certain conditions apply.

Can Auto Insurance Cover Your Flood-Damaged Car?

If you have comprehensive coverage, auto insurance will only cover water damage from a flood. This type of coverage includes theft, fire, vandalism, and severe weather events. It covers car damage related to puddles, standing water, or flooded streets, and it also covers cars declared a total loss due to engine failure.

Drivers making monthly payments on their car usually require collision coverage, which may include comprehensive coverage. Drivers who own their vehicles outright need to add it to their existing coverage. It’s important to note that you cannot add comprehensive coverage to your policy at Renee Oliver Insurance Agency Inc. just before severe weather or after water damage has occurred. Binding restrictions prevent new policies or changes to existing policies during such times. Also, comprehensive coverage cannot be used to cover past damages.

In Silver Spring, MD, the minimum coverage required is liability and uninsured/underinsured motorist coverage. The repair cost is entirely your responsibility if your car sustains water damage under this coverage.

What Does Comprehensive Coverage Not Cover?

Comprehensive coverage does not cover water damage resulting from poor car maintenance or preventable issues. For instance, if your sunroof was left open during a rainstorm and damaged the car interior, auto insurance will not cover it. It also does not cover owner-installed electronics inside vehicles; these must be manufacturer-installed.

Comprehensive coverage is the only component of auto insurance that protects your car from flood-related water damage. Renee Oliver Insurance Agency Inc. offers individual comprehensive coverage to add to your policy. Let us help you choose the right one. Call or visit our Silver Spring, MD office to add comprehensive coverage to your policy.

Introducing the Many Niches of Commercial Insurance

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Many businesses need glass insurance or boiler coverage but don’t realize it until something breaks. Renee Oliver Insurance Agency Inc. introduces more than 25 types of niche commercial coverage in this blog. Your Silver Spring, MD business won’t need every type of commercial insurance coverage, but it will need an insurance review before you buy a policy package. The review ensures that your commercial policy package contains all the necessary coverage to protect your financial investment.

Types of Commercial Policies for Physical Property

While most people think of commercial auto and workers’ compensation policies, today’s companies need many niche policies, too. Every company needs liability coverage, but many business owners miss out on coverage that helps protect against loss from things that go wrong with their building. Examples of these include:

  • Glass insurance
  • Boiler coverage
  • Inventory coverage
  • Business equipment policies.

Besides covering the physical structure with commercial property insurance, comprehensive protection requires adding niche policies.

Coverage for Commercial Liability Needs

Business liability covers the basics, but doctors, lawyers, nurses, nurse practitioners, dentists, and many others need extra coverage in the form of malpractice insurance. To protect today’s companies from loss due to data breaches or computer crashes, add cybersecurity liability insurance. Your staff might need added coverage in the form of umbrella coverage, key person insurance, and directors and officers insurance.

Protection from Unexpected Losses

A natural hazard like a hurricane can interrupt your day-to-day business, but business interruption coverage, also called business income insurance, protects you from losses. This coverage ensures the business can still pay its bills and employees.

Contact Us Today

Don’t take a chance on your commercial insurance coverage. Contact Renee Oliver Insurance Agency Inc. today to schedule a commercial insurance review for your Silver Spring, MD business. Let us help you build a commercial policy that fully protects your business.

Does Homeowner’s Insurance Cover Condos?

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At Renee Oliver Insurance Agency Inc. in Silver Spring, MD, we understand that the term "homeowner’s insurance" can evoke specific images of what qualifies as a home. You might be wondering if homeowner’s insurance covers a tiny house, a townhouse, a mansion, or even a condominium. For condominium owners, figuring out whether you have the right coverage can be challenging. After all, condo insurance exists, and it can be tricky to determine the appropriate insurance policy for a structure that seems like it could have multiple coverage options. We’ll generally delve into what type of insurance is right for a condo here, but for more specific questions, our team of insurance professionals will be happy to discuss your options over the phone or in-person at our office.

Does Homeowner’s Insurance Cover Condos?

Depending on your homeowner’s insurance policy, it may cover a condominium. If you do not own your condo, then homeowner’s insurance isn’t the right fit, and you may want to consider renter’s insurance or specialized condo insurance. If you do own your condo, homeowner’s insurance might cover certain aspects of the condo that the homeowner’s association, co-op, or other parties associated with your property won’t cover. However, this is a general guideline for a complex issue.

To ensure your condo is properly covered, consult with an insurance agent at our office. We can answer your questions and help you choose the proper coverage.

Contact Renee Oliver Insurance Agency

For more insurance information, call us at Renee Oliver Insurance Agency Inc. in Silver Spring, MD today!

Do You Have the Right Motorcycle Insurance Add-Ons?

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If you bought motorcycle insurance, you might think you’re ready to hit the road worry-free. However, numerous add-ons can further protect your bike and give you added confidence on your next cruise down the highway. The Renee Oliver Insurance Agency Inc. team in Silver Spring, MD, would be delighted to review your policy and explain the available add-ons you can use.

Original Equipment Manufacturer (OEM) Coverage

Just like car insurance, motorcycle insurance has a main policy and numerous riders and endorsements that you can include. Talk to your agent about which, if any, of these add-ons would suit your needs. OEM coverage comes in handy if your motorcycle goes into the shop. If you want the mechanic to use OEM replacement parts, this insurance will help pay for them.

Do you need this add-on? That all depends on your preferences. For vintage bikes, OEM insurance can save you money on scarce parts that will help you maintain the aesthetics of your motorcycle, for example.

Transport Trailer Coverage

Transport trailer coverage provides peace of mind for bikers who haul their rides on cross-country trips. A new trailer can set you back thousands of dollars. Transport trailer coverage usually handles costs associated with theft or damage, for example. Learn more about the pros and cons of this coverage and find out whether it includes transportation, food, and lodging in case of a covered peril.

Accessory Coverage

Do you love accessories? You’re not alone. Many motorcyclists consider accessorizing part of their culture. Visit our offices for a consultation to determine whether your custom parts are included in your coverage.

Contact the Renee Oliver Insurance Agency Inc. team in Silver Spring, MD for a free policy review or to modify your coverage with add-ons that suit your lifestyle.

What Condo Owners in Silver Spring, MD, Need to Know About Liability Coverage

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As a condo owner near Silver Spring, MD, understanding liability coverage is vital to protecting yourself and the investment you’ve made. Because liability insurance plays a pivotal role in safeguarding your investments, homes, and property, it’s essential to know what type of coverage you’ll need to protect what you own. At Renee Oliver Insurance Agency Inc., we specialize in assisting clients in Silver Spring, MD, who are seeking liability insurance coverage for any number of reasons.

Why Liability Insurance Matters for Condo Owners Near Silver Spring, MD

Liability insurance protects against claims that may arise due to property damage, personal injury, or bodily injury (on the premises of your condo). Two common types of liability insurance apply to condo owners: personal liability coverage and medical payment coverage.

  • Personal Liability Coverage: Personal liability coverage protects you if someone is hurt or injured while in your condo unit, such as in a trip-and-fall incident.
  • Medical Payments Coverage: Medical payments coverage helps cover any medical expenses incurred by a guest who is injured on your property.

Limits of Coverage

Always review the limits of coverage when selecting policies. For example, in Silver Spring, MD, limits typically range from $100,000 to $500,000 or more, depending on your chosen policy and assets. Working with an insurance agent can help you find a policy with an appropriate level of coverage for your property and condo needs in Silver Spring.

From obtaining liability insurance for your condo to protecting any other property you own, it’s important to do so with the right policy and plan in place. At Renee Oliver Insurance Agency Inc., we can help review comprehensive insurance policies for condo owners interested in implementing additional protection for their investments. Contact Renee Oliver Insurance Agency today to learn more about condo protection with liability insurance.

Work With Your Agent for the Right Umbrella Insurance Policy

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When you need an umbrella insurance policy in the Silver Spring, MD area, contact an agent at Renee Oliver Insurance Agency, Ince. Whether you already have a policy and want to review it, or you’re looking into getting coverage for the first time,e we can help you get the best policy and protection for your needs. There’s no reason to worry about the level of insurance coverage you have when an agent can help you feel more secure.

Umbrella coverage is designed to take over after you’ve used the limits of another type of policy during the claims process. Many people with significant assets choose this kind of policy for additional protection, but nearly anyone can benefit from having the increased security and peace of mind umbrella policies provide. Choosing the right one for your specific needs, though, is easier when you have an insurance agent who can help answer your questions.

These policies offer a few set coverage limits, and multiple insurers provide them, so you’ll want to get several quotes. We can show you quotes from several insurance companies and answer any questions you have about them. That makes it easier for you to select the right one for your needs and gives you the confidence that you understand what the policy will offer you and the level of protection you’ll receive.

Contact us at Renee Oliver Insurance Agency, Inc. today if you’re in the Silver Spring, MD area and looking for an umbrella insurance policy. We’re here to give you choices, confidence, support, and peace of mind, so you can get more done and feel secure when you choose your new policy.

Why might whole life insurance be a better option for me?

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Those who are living in the Silver Spring, MD area will have a lot of crucial personal insurance decisions to make over the years. The most important decision to make could come when selecting a life insurance plan. When you are going to purchase life insurance, whole life could be a good idea. There are different reasons why this might be a good option for you. 

Lifetime Coverage

A primary reason to consider getting a whole life plan is that it can offer you lifetime coverage. Term life continues to be a popular insurance option, but a disadvantage is that this will only cover you for a specific period. In some cases, you may prefer to have this coverage for longer. When you have a whole life plan, you will get coverage for as long as you want if you continue to make payments on the policy. 

Investment Benefits

Another reason to opt for a whole life insurance plan is to take advantage of the investment benefits. When you have a whole life plan, your premiums may be higher than with term life. However, some of the payments you make each month will go into an account that can grow with interest. Eventually, you will be able to liquidate this account. This makes it an excellent addition to a personal investment plan. 

Suppose you are shopping for insurance in the Silver Spring, MD area. In that case, you should call our team with the Renee Oliver Insurance Agency Inc. Our professionals at the Renee Oliver Insurance Agency Inc. know the value of life insurance. They will help you select a plan that is right for your situation. This can offer any support you need to build a quality plan.