Popular Questions about Business Insurance in Oregon

Business insurance is designed to shield your company from financial losses caused by hazards such as severe weather events, forced temporary closures, property crimes, and liability lawsuits.

This insurance can prove quite beneficial as is evidenced by the fact that in 2016 alone, businesses in Oregon collected more than $1.4 billion in insurance claims.

A local independent agent can help you build a business insurance plan that is customized to meet the specific coverage needs of your business.

Liability lawsuits are filed frequently in the United States, and this can mean large financial losses for businesses that aren’t properly insured. In fact, statisticians predict that as many as 40% of small businesses are likely to experience a property or general liability claim in the next 10 years.

Of course, liability lawsuits aren’t the only risk faced by businesses. Here are some of the most common things American companies have been using their business insurance to cover:

  • Theft and burglary: Average cost per claim is $8,000
  • Water damage and freezing pipes: Average cost per claim is $17,000
  • Wind and hail damage: Average cost per claim is $26,000
  • Fire damage: Average cost per claim is 35,000
  • Customer slip and fall: Average cost per claim is $20,000

Business insurance is designed to pay for losses, damage, and other expenses associated with covered events so that your business doesn’t have to.

Here are some of the things that you can expect a well-built business insurance policy package to do for your company:

  • Pay for damage to your business property
    • Example: A severe storm causes a large tree to uproot and it falls onto your business, causing thousands of dollars worth of damage.
  • Pay for income lost during forced business closures
    • Example: A fire breaks out at your manufacturing plant and it takes several weeks before your business is able resume normal operations.
  • Pay for someone else’s medical bills or property damage
    • Example: Several customers in your store are injured when an escalator stops suddenly and unexpectedly.
  • Pay for accidents involving company vehicles
    • Example: Your human resources manager is distracted by her GPS and rear-ends another car at a red light while driving to college job fair in a company van.
  • Pay for employee injuries and work-related illnesses
    • ExampleAn employee at your semi-conductor manufacturing plant suffers a serious lung disease after accidentally inhaling some toxic fumes.

Sometimes, the coverage types mentioned above are not enough to properly protect a business against all of its potential risks. Fortunately, there are many more products and options available to business owners so that you can build a policy package that offers complete coverage against every one of your company’s various exposures.

A commercial insurance policy in and of itself is not required by law. However, some aspects of coverage may be. For example:

  • Businesses that have company-owned vehicles are required to carry commercial vehicle insurance.
  • All Oregon businesses with at least one employee are required by state law to carry workers’ compensation insurance.
  • Businesses that contract to do construction and other renovation will nearly always be required to have contractors insurance before they can be hired to do a job.
  • If you want to take out a business loan or line of credit, your financial institution may require you to have businesses insurance for the duration of your loan.

To learn more about coverage that you may need to carry, you can consult a local independent insurance agent.

Business insurance rates are calculated using a number of factors such as the type of business you own, its average annual revenues, the number work workers you employ, your company’s liability exposures, and the amount and types of coverage you want to include in your policy package.

When building your business insurance portfolio, a local independent agent may find that it is in your best interest to work with more than one insurance company. For example, while one company may offer the best workers’ compensation coverage, another may have the best commercial vehicle policy. Independent agents enable you to get the best price by buying coverage from multiple companies while still having a single point of contact through their office.

Let a local independent agent save your time and money shopping around for suitable, yet competitively priced, coverage for your Oregon businesses.

Yes! There are currently 226 independent insurance agencies in Oregon who are ready to help. These agents are not tied to a single insurance provider like captive agents are, so they can shop around for the policies that offer the most value to your company.

Work with an agent near you to ensure that your business is fully covered against all of its potential risks and exposures.

How does business insurance work?

Oregon Business Insurance Stats

National Business Insurance Stats

Number of businesses in the US: 27,626,360

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

CityNo. businessesBurglaries / 1,000 peopleAuto thefts / 1,000 cars
Albany3,0572.942.07
Beaverton8,5031.942.65
Bend11,6901.680.96
Corvallis3,9103.161.20
Eugene15,5554.763.17
Grants Pass3,3183.784.76
Gresham6,7294.351.13
Hillsboro5,8691.912.00
Keizer2,4792.372.64
Lake Oswego5,3532.910.71
Medford7,1295.694.37
Portland75,5836.7610.55
Salem12,3415.435.22
Springfield3,6443.362.47
Tigard5,6133.341.88
  • Portland, OR
  • Business Insurance Common Coverage Options
  • Property: The crime rate in Portland is one of the highest in the state. Every year, approximately 24,000 thefts and 4,000 burglaries are reported in this city. You can shield your business from losses caused by embezzlement, shoplifting, and looting with a solid business insurance policy.
  • Commercial auto: Your business is required to have commercial auto insurance if it owns a vehicle or a fleet of vehicles. Rates are based on a number of factors like the types of vehicles you are covering and information about the employees who will be driving them. Large trucks and construction vehicles cost more to insure than cars and cargo vans since they can cause a great deal more damage if involved in an accident.
  • Workers’ compensation insurance covers the cost of medical treatment, lost wages, and other expenses related to injuries or illnesses employees suffer because of doing their jobs. It is required for all Oregon businesses that have at least one employee. Workers' compensation rates are assigned according to your company’s overall payroll and the types of jobs your employees do.


  • Salem, OR
  • Business Insurance Common Coverage Options
  • Property: In addition to losses caused by property crimes like theft and arson, severe weather events like electrical storms and heavy winds can lead to expensive losses if you do not have sufficient business insurance. Fortunately, your commercial property insurance can cover the costs to repair or replace your business property if it is damaged or lost due to a covered event.
  • Commercial auto: Whether you are insuring a delivery van or a fleet of 18-wheelers, commercial auto insurance can cover costs associated with liability risks and damage to your company vehicles. This insurance is required for company-owned vehicles in this state. If your vehicles are driven over state lines, you will need to be sure that your policy meets federal, as well as state, minimum coverage requirements. A local independent agent can help.
  • Workers’ compensation insurance is required if your Salem has at least one employee. This insurance can cover medical treatments, lost wages, and other costs associated with workplace injuries and occupational illnesses. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates can vary significantly from one business to the next.


  • Eugene, OR
  • Business Insurance Common Coverage Options
  • Property: Having a sufficient amount of business property insurance can shield your company from losses related to hazards like accidental fires, property crimes, and severe weather events like heavy winds and electrical storms. An independent insurance agent in Eugene can help you be certain that all of your company’s assets are properly insured.
  • Commercial auto:  If your Eugene business owns a vehicle or fleet of vehicles, you will be required by state law to carry commercial auto insurance. This insurance can cover your company against its increased risks of expensive liability lawsuits if one of your drivers causes a collision. Rates for coverage can vary according to the number and types of vehicles you are covering, as well as the accident rate in the areas where your employees will be driving.
  • Workers’ compensation insurance covers medical expenses and paid time off for employees who are injured on the job. If your Eugene business has at least one employee, you are required by state law to have this insurance. Rates for coverage can vary significantly from one business to the next, depending on the types of jobs your employees do and your company’s overall payroll.


  • Gresham, OR
  • Business Insurance Common Coverage Options
  • Property: As a business owner, you have likely invested a lot into your company’s assets such as computers, furniture, inventory, and supplies. Commercial property insurance can help cover the cost of repairing or replacing this property if it is lost or damaged due to a covered event such a severe weather or crime. Find a policy and rate that works for your Gresham business by teaming up with a local independent agent.
  • Commercial auto: Many businesses in Gresham have company-owned vehicles. From company cars to delivery vans to large trucks, if your company owns vehicles, they must be covered by a commercial auto insurance policy that meets or exceeds the state’s minimum coverage requirements. If these vehicles are used for interstate commerce, they must meet federal requirements as well. A local independent agent can help you find a great policy at a competitive price.
  • Workers’ compensation insurance covers medical bills and lost wages for workers who suffer occupational illnesses or are injured while doing their jobs. It is required for Oregon businesses that have at least one employee. Rates are assigned according to your company’s payroll and the types of jobs your workers do.


  • Hillsboro, OR
  • Business Insurance Common Coverage Options
  • Property: You will want to be sure that your policy adequately covers all of your businesses property so that if it is completely destroyed by a disaster like fire or an explosion, your business easily afford to replace it and get back to normal operations quickly. Sometimes this means adding additional coverage such as inland marine insurance or boiler & machinery insurance. A local independent agent can offer advice about what coverage is appropriate for your Hillsboro business.
  • Commercial auto: If your business owns a vehicle or a fleet of vehicles, you will be required by state law to cover them with commercial auto insurance. Your rates will be based on several factors, including the number and types of vehicles you are covering, information about the employees who will be driving them, and the risk of collisions and of vehicular theft where they will be operated.
  • Workers’ compensation insurance can cover medical bills and lost wages for workers who come down with occupational illnesses or are injured on the job.  Rates are based on your company’s overall payroll and the potential risks faced by your employees according to their job classifications.