Oregon, as a whole, has 377,860 small business owners. With 111,053 residents living in Gresham, the right protection for your company is necessary. When you own a business, certain policies are required by the state and others that should be obtained for adequate insurance.
Fortunately, an independent insurance agent can help find a policy for a fair price. Let someone else do the shopping for you at no cost to your business. Connect with a local adviser for quotes today.
Commercial Property Insurance in Gresham, OR
Your commercial insurance policies in Gresham are essential to running a smooth operation. Unfortunately, most commercial property insurance will only pay up to 80% replacement of your structure. That would leave you responsible for 20% of a loss.
In Gresham, carriers will look at numerous items when rating your policies. Among them will be insurance scores, claims history, property specifics, and even the weather. Take a look at the top threats to your commercial building below.
Common property risks in Gresham, OR:
- Wildfires and residential fires
- Flooding and water damage
- Severe storms and lightning damage
- Earthquakes and tremors
- Burglary and other property crimes
Here's why you need flood insurance:
Flood insurance is necessary when you're trying to cover your structure for flood damage. Your commercial property policy will not have coverage for flooding. To have sufficient protection, get FEMA-approved quotes from a licensed professional.
Worker's Compensation Insurance in Gresham, OR
Worker's compensation pays for the medical expenses and lost wages of an employee who gets injured or becomes ill on the job. Your company will be responsible for any loss that occurs on your watch. It can help pay for disability and even death when a claim is significant.
In Gresham, OR, you are required by law to carry worker's compensation insurance if you have one employee or more. This coverage is mandatory, and if you don't meet state guidelines, you can be fined or worse. Each state has a minimum limit of liability you will be required to meet to be compliant.
Liability Insurance in Gresham, OR
Gresham has had 7 natural disasters, with 6 of them being significant. In 2019 alone, there were $4,356,292,000 in commercial claims paid in Oregon. To have adequate protection, take a look at the following options:
General liability (GL) insurance
GL insurance is the most used policy your business will have. It will protect against lawsuits arising out of property damage, bodily injury, and slander.
Cyber liability coverage will help pay for a loss resulting from a cyberattack. When you're business's sensitive data is stolen, you're liable. This policy will help to pay legal fees and more when a loss occurs.
Business interruption insurance will help pay for a catastrophe that causes the closure of your operation. It will assist in paying regular bills for a period of 12 to 24 months. This coverage can be added to your GL policy.
Employee Benefits Coverage in Gresham, OR
Employee benefits can help your company stay competitive when attracting and retaining staff. With 852,983 people employed by small businesses in Oregon, you'll need to add value. Most employees want more than just a salary when it comes to their jobs.
Employee benefits will help pay for a variety of insurance policies for your team. A 2018 poll found that 94% of employees said that health insurance is a very important offering from their employer. You can customize a package that works for your budget and business through an adviser.
Why You Need a Gresham, OR Independent Agent
Gresham, OR, business insurance can be confusing. To know if you're getting the right coverage, consider using a trained adviser. They will have access to several carriers and help you navigate the market.
An independent insurance agent will find a policy that protects your assets, finances, and property at a fair price. If you're tired of trying to figure it out on your own, have an agent do the shopping. Go to TrustedChoice to connect with a local expert for quotes.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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