Portland Oregon Business Insurance
You owe it to your company to get the very best business insurance value for the dollar invested for your Portland Oregon business. Insurance value should not be determined by the lowest price and not all businesses fit into the same cookie cutter policy.
Your Portland Oregon business insurance policy will be either one of the following:
- Business Owner Policy (BOP): This is a prepackaged insurance policy specifically for small businesses and is a combination business insurance policy that covers general liability, property, business interruption, and many additional coverages into one convenient policy. This type of business insurance policy is written with strict underwriting guidelines including a maximum gross revenue thresh-hold in addition to allowable square footage for office, retail, or apartment risks. The BOP allows you to save on business insurance costs by bundling multiple insurance policies together for a single affordable rate.
- Package Policy: This type of insurance policy is purchased a la carte where each line of insurance coverage is tailored to the specific needs of your business. A package policy is mot often used in large businesses and small to medium-sized businesses that are more unique or those that have special needs. The most common commercial package policy consists of general liability insurance, property insurance, business auto insurance, worker’s compensation and umbrella coverage.
I work with my prospects and clients to find a tailored insurance option that will fit your business needs, focusing on finding you value, but more importantly finding the right coverages for your business.
Below are the lines of insurance coverage that are discussed during a review of your risks:
Liability: Your business is faced with several liability hazards everyday. Commercial liability coverage is going to cover claims in four basic areas of business liability, these are: Bodily Injury, Property Damage, Personal Injury, and Advertising Injury.
Property: Commercial property insurance will provide coverage for your buildings, business personal property, and personal property of others.
Commercial Auto: Commercial auto insurance will cover any auto that is owned, leased, hired or borrowed by your business and pays damages for bodily injury or property damage for which you are legally responsible due to an auto accident.
Workers Compensation: Workers Compensation pays for occupational injuries or disease regardless of fault.
Employer Practices Liability: Employer Practices Liability insurance covers your business against claims by workers that their legal rights as employees of the company have been violated.
Professional Liability: Professional liability also know as Errors & Omissions will protect you against loss from a claim of alleged negligent acts, errors or omissions in the performance of your professional services. This coverage is excluded in a commercial general liability policy.
Directors & Officers Liability: Directors & Officers Liability (D&O) insurance insures against the risk of personal legal action against directors & officers of a company, by shareholders, creditors, competitors and employees for acts of negligence, acts outside their authority, or breach of trust or duty.
Cyber Liability: Cyber Liability Insurance insures your business’ Internet-based risks, and from risks relating to information technology infrastructure. Coverages are purchased ‘a la carte’ and incorporated into one policy.
Surety Bonds: Surety bonds are issued by an entity on behalf of a second party, guaranteeing that the second party will fulfill an obligation or series of obligations to a third party. The surety company assumes liability for nonperformance.
Fidelity Bonds: Fidelity bonds will protect your business against financial loss from dishonest acts by employees or persons entrusted by your company due to dishonest or negligent action.