Commercial Insurance in Oregon

If you want to run or start a successful business venture in Oregon, you must consider investing in commercial insurance. Unfortunately, many small businesses, especially startups, make a rookie mistake of assuming everything will be smooth and ignore commercial insurance. While this might seem like a smart cost-saving strategy, it will end in tears when catastrophes strike.

Do you want to run a small business that will withstand the test of time? Buying commercial insurance from Einstein Insurance in Portland, OR must be in your plans. Here is what you need to know about commercial insurance.

Is commercial insurance mandatory?

Some business insurance coverages are required by Oregon law. If you operate a business in Oregon, you must purchase worker’s comp insurance to protect your employees against illnesses and work-related injuries. Besides, you are required to buy commercial auto insurance for all your business vehicles.

So, if I buy state-required coverages, am I good to go? Business insurance isn’t all about compliance — you need to consider other commercial insurance coverages for optimal protection.

Optional commercial insurance coverages

If you are shopping for commercial insurance in Oregon, here are the optional coverages you are likely to bump into:

• General liability insurance: While the law doesn’t require this coverage, every business must purchase it. This coverage protects your business against advertising injury, property damage, and bodily injury you cause to others. It protects your business finances when lawsuits come calling.
• Commercial property insurance: It protects your business buildings and assets like inventories, furniture, and computers from perils like fire, theft, and so on.
• Business owner’s policy (BOP): It combines the above two coverages, making it affordable for most small businesses.
• Cyber liability insurance: : This coverage protects your business when faced with malicious online activities like hacking. When cybercriminals target your business, this coverage pays for customer notification costs, public relations expenses, legal charges, and other costs.
• Umbrella insurance: This insurance policy provides extra liability insurance when your typical business insurance runs out.

Is your Portland, OR business ready with commercial insurance? Let Einstein Insurance take care of your small business insurance needs as you concentrate on more pressing issues.