The Basics of Renters Insurance In Oregon

Whether renting an apartment in Portland for the first time or an oceanfront house at the Oregon Coast Renters Insurance is a must-have for anyone renting a living space. Renters Insurance is designed to protect individuals who rent their living space. The Personal Lines team at Elliott, Powell, Baden, and Baker will take the time to explain coverages and find the best plan to protect you and your assets.  Here are the basics of what renters insurance typically covers and how it works:

Coverage Components

  1. Personal Property Coverage:
    • Protection for Belongings: This covers repairing or replacing your belongings if damaged or stolen. Thisincludes items like clothing, electronics, furniture, and appliances.
    • Covered Events: Commonly covered events (perils) include fire, theft, vandalism, certain types of water damage, and more.** It’s important to check the specific perils covered by your policy.
  2. Liability Coverage:
    • Personal Liability: Protects you if someone is injured in your rented property and decides to sue you. It can help cover legal expenses and any damages you are liable for.
    • Property Damage Liability: Covers accidental damage you cause to someone else’s property.
  3. Additional Living Expenses (ALE):
    • Loss of Use: If your rental becomes uninhabitable due to a covered event (like a fire), ALE helps cover the cost of temporary housing and other additional living expenses.

Key Considerations

  1. Policy Limits:
    • Coverage Limits: Each type of coverage (personal property, liability, ALE) has a limit, the maximum amount the insurance company will pay for a covered loss. The team at EPB&B will help you assess your limits so they are high enough to cover your potential losses.
  2. Deductibles:
    • Out-of-Pocket Costs: The deductible is the amount you must pay out of pocket before your insurance coverage kicks in. Choose a deductible you can afford in the event of a claim.
  3. Replacement Cost vs. Actual Cash Value:
    • Replacement Cost: Pays the cost of replacing your items with new ones of similar kind and quality.
    • Actual Cash Value: Pays the depreciated value of your items, considering their age and wear and tear.
  4. Exclusions and Riders:
    • Standard Exclusions: Some events (like floods or earthquakes) are typically not covered by standard renters insurance policies. You may need additional riders or separate policies for these risks.
    • Riders: Add-ons to your policy for valuable items such as jewelry, electronics, or art that exceed the standard coverage limits. This includes “scheduling” your valuable items with zero deductible.
  5. Cost:
    • Premiums: Renters insurance is generally affordable, with premiums varying based on factors like coverage amount, the area in which your are renting, and the deductible.  

Renters insurance provides valuable protection at a relatively low cost, making it a wise investment. Contact the team at EPB&B to get a quote on Renters Insurance that will help protect you and the things you value.


Baker Family Foundation introduces the first two Josh Brown scholarship recipients

Today, the Baker Family Foundation had the honor of presenting the first two athletes to receive the Josh Brown Youth Memorial Soccer Scholarship: Zaid Nehiri and Lily Huynh, who play for Oregon Surf FC. 

About The Josh Brown Youth Memorial Soccer Scholarship 

Josh Brown lost his life in a tragic auto accident on December 25, 2023. He was the nephew of Elliott, Powell, Baden, and Baker Founder Marc Baker.  Those who knew Josh knew he had two great passions: playing Soccer and coaching kids in the sport he loved. His family created the Josh Brown Memorial Youth Scholarship fund in his honor. 100% of the money donated to the fund is used to cover the cost of playing club soccer for two or more selected players annually who have a demonstrated passion for the game and who, without financial assistance, would otherwise be unable to play their sport at the club level.

Here is more about the two talented and dedicated 2024 Scholarship recipients .

“I am so impressed with both Zaid and Lily and their commitment to the sport,” says Baker Family Foundation Founder, Marc Baker “and I cannot think of a better way to honor Josh’s legacy that supporting youth players that love this sport.”

Here is how you can donate to the Josh Brown Youth Memorial Soccer Scholarship and learn more about how the Baker Family Foundation supports the Portland Community.


EPB&B welcomes another third generation Baker to the team

It has been a long time coming but the team at EPB&B is thrilled to officially welcome Brennan Baker as our new Summer Intern as he begins his role as the new Vice President of First Impressions. He has some big shoes to fill as Jane Reed who has excelled in the position for the past nine months has been promoted to the position of Finance Assistant.

Like his brother, EPB&B Producer Dylan Baker, Brennan has grown up in the world of EPB&B watching his grandfather, Founder and past President Neil Baker and his dad, current President Marc Baker grow the agency to be one of the premiere independent insurance agencies on Oregon.  Here is more about Brennan and his thoughts on joining the family business. . 

  1.  What made you interested in joining EPB&B and taking on the role of Vice President of First impressions?  I am excited to finally be a part of the family business that my grandfather and dad have worked so hard to build. My brother Dylan who is now a Producer at EPB&B started his career at the front desk as well he and found it to be a really helpful entry point.  It will  allow me the opportunity to get to know and work with many different team members and learn their roles in the company.
  2. What are you most looking forward to learning about the industry? Although I have grown up around EPB&B,   I have so much to learn. I look forward to understanding the ins and out of the insurance industry and specifically the role EPB&B has in helping customers find the right insurance for their personal and business needs.
  3. Please share something to let people know a little more about you. I love anything sports related! I have coached youth soccer for the past three years, and I really enjoy working with kids. You will find me on the golf course any chance I get and despite what he might say,  I am a better golfer than my dad. 

Welcome “officially” to the team Brennan. 

EPB&B is a family affair. Looks like the agency is in good hands. (President Marc Baker, Center, with his sons Brennan and Dylan).


Surety Bonding For Oregon Business

Ensuring that your business is compliant in Oregon is essential for any business owner, and for many that means in adding a surety bond as part of your business insurance policy.  A surety bond is a three-party agreement designed to ensure that a business or individual (the principal) fulfills certain obligations to another party (the obligee). Providing bonding requires an understanding of the businesses financials, contracts and the surety market. Elliott, Powell, Baden & Baker insurance has a  dedicated surety team  that will take the time to understand your surety needs and provide you with the best options available based on underwriting information.  EPB&B has relationships with national surety companies as well as regional markets. This enables us to match your needs to the best program. Contact our office for any of your surety needs. 

The three parties involved in a surety bond are:

  1. Principal: The party required to obtain the bond and perform the obligation. This is typically the business or individual purchasing the bond, for example a contractor working a home remodel
  2. Obligee: The party that requires the bond and receives protection if the principal fails to meet their obligation.This could be a government agency, a business, or an individual.
  3. Surety: The company or entity that issues the bond, providing a financial guarantee that the principal will fulfill their obligations. If the principal fails to do so, the surety is responsible for compensating the obligee up to the bond’s limit.

How Surety Bonds Work

Upon approval and payment of the premium, the surety issues the bond, which is a guarantee that the principal will fulfill their obligations per the contract or municipal code.  If the principal fails to meet their obligations, the obligee can file a claim against the bond. The surety gives the principal time to respond and/or rectify the situation prior to any claim payments. There are a variety of different ways the bonding company can satisfy a claim. One of those being, paying the obligee up to the amount of the bond, hiring another contractor to complete the work, or hiring additional sub-contractors to help the contractor finish the job. If the surety pays the obligee, the principal is responsible for reimbursing the surety. 

Types of Surety Bonds

  • Contract Bonds: Common in the construction industry to guarantee the completion of a project according to the contract.
    • Bid Bonds: Guarantees that a contractor submits a serious bid and will provide performance and payment bonds if awarded the contract.
    • Performance Bonds: Guarantees that the principal will complete the project per the contract. 
    • Payment Bonds: Guarantees that subcontractors and suppliers are paid for their work and materials.
  • Commercial Bonds: Required by businesses to operate legally or fulfill other obligations.
    • License and Permit Bonds: Required to obtain various business licenses or permits.
    • Fidelity Bonds: Protect businesses against losses caused by dishonest acts of employees.
    • Public Official Bonds: Required for individuals in public office to ensure they perform their duties ethically and lawfully.
  • Court Bonds: Required in legal proceedings.
    • Fiduciary Bonds: Required for individuals managing another person’s assets, such as guardians or estate executors.
    • Judicial Bonds: Required in litigation to ensure court orders are followed, such as appeal bonds.

Benefits of Surety Bonds

  • Protection for Obligees: Ensures that the obligations of the contract are fulfilled and the public is protected from misdeeds from the contractor. 
  • Increased Credibility: Shows that the principal is financially responsible and trustworthy, enhancing their reputation.
  • Legal Compliance: Provides compliance for business and individuals 
  • Risk Management: Provides a mechanism to manage risk and ensure that contractual obligations are met.

Contact the surety team at Elliott, Powell Baden and Baker Insurance. We can create a customized bonding program that lets you take on bigger and more complex jobs.  


How A Homeowners Policy Covers Backyard Celebrations

As summer approaches in Oregon, many of us are gearing up for graduation parties and summer holiday celebrations; this means our backyards are taking center stage. But even the most well-planned event can bring the unexpected. As you uncover the grills, hang the banners, and spruce up the patio furniture, make sure to polish up your homeowners policy too. The team at EPB&B insurance will review your current homeowners policy and help you put the right overage in place to cover any party mishaps that might arise.   

  1.  Unexpected Slips, Trips, And Falls– Even the most well-manicured yard has little danger zones that can catch a guest unaware.   Uneven surfaces, gaps in pool surrounds, and dimly lit walkways can cause a guest to trip and fall.  Your homeowner’s policy will cover legal and medical bills that may arise, but depending on your assets, ask our team about an umbrella policy as it offers higher levels of protection in the case you find yourself liable for a claim that is greater than your homeowners liability insurance limit.   
  2. Libation Liability. It is the hope of any host that partygoers will have fun and drink responsibly, but alcohol continues to be one of the biggest liabilities for a host.  Be aware that as a host, you might be held responsible if a guest who has been drinking at your event drives and gets in an accident on the way home.  To mitigate risk, offer non-alcoholic beverages, and if you see a guest has imbibed a bit too much, please arrange for them to get home safely.  For added protection, ask us about adding specific coverage for liquor liability.
  3. Open Flames.  Grilling burgers on the BBQ, enjoying a beverage by the firepit, and celebrating with sparklers mean open flames are often a part of any backyard party. Take precaution and keep grills and fir pits more than ten feet away from structures , and do not place them under overhanging branches.  Keep open flame away from where kids are playing. If a party guest is injured by a fire, a homeowner must ensure they have enough converage to pay not only for medical bills but any legal bills that might arise from damages.   

Chances are your backyard bash will go off without a hitch, but take precautions to protect not only your guests but yourself from any unexpected mishaps that might arise.

Most homeowners’ policies have many additions or endorsements that can be added to enhance your insurance policy to fit your needs. At EPB&B, our Account Managers are proficient in the coverage many insurance carriers offer and are here to help you find the right coverage to protect your home, auto and business