Category: Commercial Insurance

Do you operate your own business? If you already do, or you’re about to start up a company, it’s crucial that you get just the right insurance to meet your needs. It will benefit you to speak to an agent from Choice One Insurance Inc. of the Portland, OR area to get answers to your questions about commercial insurance. 

Should I Definitely Get Commercial Insurance? 

This is an important question because not all companies require insurance or need it at the same level. If you’ve got property, and you want to protect the value of this in the event of damage or loss, business insurance is ideal.

What Types of Commercial Insurance Should I Have? 

Liability coverage is one of the basic types of policy that you should consider. Other types that would be worthwhile for your business include workers’ compensation, property insurance, commercial auto insurance, and business interruption coverage. 

How Can You Lower Your Premiums? 

Talk to your agent about how you’d be able to lower your premium amount. If your company already makes an effort to reduce risks, such as following fire safety and installing a security system, you’d likely be eligible to get discounts. 

What Are the Policy Limits?

Nearly all policies are going to have limits to them. It’s best that you know beforehand and understands what all the amounts mean. You need to know what to expect, including what your deductible is going to be for your policy. 

Talk to an expert on commercial insurance at Choice One Insurance Inc. of the Portland, OR area. You’ll be grateful that you did when you see how much you can benefit from having a dedicated insurance agent on your side. 

In Oregon, there are two types of commercial insurance that are required for businesses. Not every business meets the requirements for these insurance types. But if your business does, don’t go without this important coverage. To find out more about the commercial policies that are right for your business, call us now at Choice One Insurance Inc. in Portland, OR.

Workers’ Compensation

In Oregon, every employee of a business has to be covered by a workers’ compensation policy. It doesn’t matter whether the person is full-time or part-time- they must be covered. In the event that someone is injured on the job, or becomes ill there, your workers’ compensation insurance will cover their medical bills as well as any lost wages. This protects your business from having to pay the exorbitant bills that can result from accidents and illnesses. 

Commercial Auto Coverage

If your Oregon business owns a vehicle, state law decrees that it must have a commercial auto insurance policy. That policy must have at least the mandated minimum amount of coverage for bodily injury liability. That includes one amount for a single person who is injured and other amounts for everyone who had injuries from an accident. It is also required for the policy to have at least the minimum amount of property damage liability. Uninsured motorist coverage is also included, with one amount required for a single person being injured and another amount for all of the people who were injured. The law also requires that the policy have personal injury protection. This pays for your medical bills if you are in an accident. 

Get Commercial Coverage

If your business meets the requirements for either of these commercial insurance policies, don’t go without this valuable coverage. Stay legal by getting the required policies. To find out more, contact us at Choice One Insurance Inc. in Portland, OR.

Choice One Insurance Inc. serves the Portland, OR community, and the surrounding areas by offering residents multiple types of insurance coverage. We are committed to helping our clients find the insurance policies that will allow them to protect their assets.

Commercial Insurance Myths

Small business owners help stimulate the Portland, OR economy. As a small business owner, you must protect your investment. Commercial insurance covers you so that your business will continue operating smoothly. The policy covers your business in the event of a potential liability dispute regarding your employees or customers. You’ll also be protected if your equipment is stolen or vandalized. Commercial insurance will help minimize some of the risks involved with operating a business. While you are researching different policies, avoid some of these common commercial insurance myths.

I Don’t Need Coverage For My Vehicle.

Many businesses make the mistake of believing that they do not need to cover the vehicles that they use for business-related purposes because they have coverage through a traditional auto policy. A traditional auto insurance policy will not cover any vehicles that are used for your business. Commercial insurance is the only way to secure your business vehicles fully.

I Have A Small Business, So Workers Compensation Isn’t Necessary.

Even if you have a small business with only a few employees, workers’ compensation is an asset. The policy protects your business and your employees if they are injured on the job. Having workers’ compensation also helps you attract talented employees and establishes your business as credible throughout the industry.

My Umbrella Policy Covers Everything

This is incorrect. Your umbrella policy acts as a safety net, but you will still need commercial insurance to secure your business completely.

Choice One Insurance, Inc. Will Help You Protect Your Business

Contact our office today to learn more information about commercial insurance.