Choose The Hartford for Your Oregon Business Insurance Needs
According to the US Census, more than 4 million people lived in Oregon in 2016. Small businesses employ many of those residents. Oregon is made up of 346,961 small businesses, or 97.6% of companies in Oregon. Small businesses in the Beaver State employed 55.7% of the private workforce, in 2013.1 It is crucial to these companies to have appropriate business insurance coverage. Learn why we think The Hartford offers the best business insurance to Oregon businesses.
Types of Oregon Business Insurance Offered
Oregon Business Insurance Policy
An Oregon Business Insurance Policy, commonly referred to as a BOP, is essential for Oregon business owners because a BOP combines business property insurance and business liability insurance into a single policy. This insurance policy can help protect your Oregon business from claims resulting from fires, burglary, or other covered disasters. A BOP can also help safeguard against claims involving bodily injury and damage to your property, as well as personal and advertising injury. These plans can be customized to help meet the unique needs of your business. A BOP from The Hartford could be vital for your business if:
- Your Oregon business has the potential to be sued, for example, by a new customer who slipped on ice walking into your building.
- Your Oregon business has a physical location, including a home, which is rented or owned.
- Your Oregon business has physical or digital assets that can be stolen or damaged, including customer data, cash, equipment, furniture or inventory.
Oregon Commercial Auto Insurance
Commercial Auto Insurance helps your Oregon business cover the financial costs that may result from a car accident if you or one of your employees is found to be at fault. Commercial auto insurance can help your business pay for claims if there is property damage, medical expenses, and especially if the accident is fatal. Commercial auto insurance can protect your business if an employee hits a pedestrian and they require medical attention, an employee accidentally swerves off the road and damages a mailbox, and if any employee totals a company vehicle on the way to work. Your Oregon business should consider commercial auto insurance if:
- You own, lease, or rent trucks and cars for your business.
- You have employees who drive their vehicles for business purposes.
- You have employees who operate company vehicles for business purposes.
Oregon Professional Liability Insurance
Professional liability insurance helps cover you and your Oregon business if you are found negligent in the services that your company provides. This includes coverage if someone in your organization makes a clerical error that costs the client thousands of dollars or if you are a photographer at a wedding and accidentally lose or damage your client’s work. These situations and others can have costly legal repercussions. Professional liability insurance can help cover the costs and fees associated with the event.
Many types of Oregon businesses need professional liability insurance, also known as errors and omissions insurance. E&O insurance is essential if you work directly with customers to provide professional services. For example, real estate professionals, lawyers, technology professionals, home inspectors, accountants, tax preparers and more typically purchase E&O insurance.
Oregon Business Income Insurance
Business income insurance is essential for Oregon businesses because it helps replace lost income when a company is unable to operate due to a covered property loss including fires, wind, or theft. If your company is unable to produce or generate revenue due to a fire or theft, business income insurance coverage can help cover your costs until you can get back on your feet. This way, your Oregon business can continue to cover expenses including bills and payroll while your property is being replaced or repaired from the damage.
Business income insurance is included in a Business Owner’s Policy from The Hartford, and can be beneficial to many types of businesses including the following:
- Service businesses including hair salons and physical therapy offices, which depend on a physical location to serve customers.
- Software companies that have physical and digital property, such as cloud storage.
- Businesses and retail stores that require a brick-and-mortar location to display products and goods so customers can come in to make physical purchases.
Oregon Minimum Business Insurance Requirements
Oregon requires most employers to carry workers’ compensation insurance for their employees. If you employ workers in Oregon, you probably need workers’ compensation coverage. An employer with one or more workers must purchase a workers' compensation policy in the state of Oregon.2
Additional Oregon Business Insurance Links
- Commercial Auto Insurance
- Business Income Insurance
- Commercial Flood Insurance
- Commercial Property Insurance
- Commercial Umbrella Insurance
- Data Breach Insurance
- General Liability Insurance
- Surety & Fidelity Bonds
- Home-Based Business Insurance
- Employment Practices Liability
Get a quote on Small Business Insurance for your business today.