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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.