Business Insurance in Camas, WA

Camas, WA is part of the Portland metropolitan area, located about 20 miles east of the city. Over 470 businesses are based in Camas, with healthcare, technology, and professional services making up the most prevalent industries.

Business owners in Camas need insurance that protects their assets when something goes wrong. An independent insurance agent can help you compare business insurance quotes in Camas, WA, so you can choose the coverage that’s best for you.

How Much Does Business Insurance Cost in Camas, WA?

Several factors, including the following, influence the cost of business insurance in Camas, WA:

• The size and physical location of your business
• Your number of employees
• Your gross sales and payroll
• The nature of your business (what do you do?)
• The value of your physical assets (buildings, vehicles, machines, equipment, inventory, etc.)
• Your prior business insurance claims history

Property losses can be a significant driver of insurance claims and high business insurance costs. If you live in an area with a high rate of property crime or that experiences frequent severe weather, you’ll likely pay more for your business insurance.

Since 1953, there have been 171 federally declared disasters in Washington. The leading causes of property losses in the state are:

• Fires
• Flooding and water damage
• Severe storms and lightning
• Burglary and other property crimes
• Landslides and mudslides

A local independent insurance agent can help you understand all of your risks and get quotes for affordable business insurance in Camas.

Is Business Insurance Required in Camas, WA?

Washington law does not require most types of business insurance. But if your business owns any vehicles, you have to buy commercial auto insurance that complies with the state’s car insurance laws. Your commercial auto insurance must have liability coverage up to the following minimum limits:

• Bodily injury liability: $25,000 per person/$50,000 per accident
• Property damage liability: $10,000 per accident

Bodily injury liability insurance covers you if you are at fault in an accident and someone other than yourself is injured. Property damage liability insurance covers damage to another person's vehicle or property in an accident that is your fault.

In addition, workers' compensation insurance is required for all employers in Washington. Employers may obtain workers’ compensation insurance either through the Washington Department of Labor and Industries’ Industrial Insurance Program or through self-insurance.

Workers' compensation insurance helps injured workers pay for the costs of medical care and lost wages if they are injured on the job.

State law does not require other types of business insurance in Camas, but most business owners will need commercial property insurance and general liability insurance to protect their assets adequately.

What Does Business Insurance Cover in Camas, WA?

A comprehensive business insurance program in Camas, WA will typically include the following types of coverage:

• Commercial general liability (CGL) insurance: Protects your business from lawsuits related to bodily injury and property damage claims. It pays for medical expenses, legal fees, and financial settlements or judgments. Your CGL policy even covers personal injury claims such as libel and slander.
• Commercial property insurance: This covers damage to a building and its contents if damaged by a weather event, fire, theft, vandalism, and other covered perils.
• Business interruption coverage: Protects your earnings if your business cannot operate because of damage after a fire, hail, wind, equipment breakdown, or another covered event. If you are forced to close to make repairs or rebuild, this coverage pays for rent, employee salaries, lost income, relocation fees, and more.
• Commercial auto insurance: Protects your business-owned cars and trucks from property damage and liability claims.
• Workers’ compensation insurance: Pays for medical expenses and a portion of an employee's lost wages after a work-related injury. 

Every insurance policy you purchase will include a very specific list of coverage exclusions, or things that are not covered by the policy. For example, commercial property policies typically exclude coverage for damage caused by flooding or earthquakes. And a CGL policy usually won’t protect you if you’re sued for damage that is caused by pollution or some other environmental negligence. 

But in some cases, what is excluded in one policy can simply be added back to the policy with an endorsement or by purchasing a separate, risk-specific policy.

Small businesses that are located in flood zones, for example, can purchase flood insurance from the National Flood Insurance Program. Earthquake insurance may also be available for businesses that need it. And if your business has certain liability exposures that are not covered by your CGL policy, you can purchase one or several additional liability policies to fill in all the gaps. 

Business insurance is not the same for every company. It's important to work with an independent insurance agent who understands your unique business risks and who can recommend policies that provide the proper coverage.

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What Does Small Business Liability Insurance Cover in Camas, WA?

Liability insurance is one of the most critical components of any small business insurance program. Small business liability insurance is essentially lawsuit coverage.

A commercial general liability (CGL) policy for small businesses provides broad protection for a wide range of lawsuits and negligence claims. These types of lawsuits happen when your business is responsible for damage or injuries to third parties.

A CGL policy has two major coverage components:

• Premises liability insurance: Covers third-party damage, injuries, or illnesses that occur due to an accident on your property
• Product liability insurance: Covers third-party damage, injuries, or illnesses caused by a defect in a product your company produces, sells, or promotes

Businesses often have liability risks beyond what CGL insurance can cover. Fortunately, there are several additional small business liability policies available. And in some cases, you can add the additional coverage you need to your CGL policy with an endorsement.

Talk to your independent insurance agent about why you might need environmental liability insurance, cyber liability insurance, professional liability insurance, or any other kind of customized small business liability protection.

Are There Any Small Business Health Insurance Plans in Camas, WA?

Certain employee benefits like group health insurance serve a critical purpose for many small businesses and their employees. A good employee benefits plan that includes health insurance and other group insurance helps companies attract and retain top employees.

Employers who offer employee health plans may also be eligible for significant tax benefits.

There are many different health insurance policy types and options available for you to choose from. A local independent agent can help you find affordable small business health insurance plans in Camas, WA.

What Are the Best Small Business Insurance Companies in Camas, WA?

Finding the best small business insurance companies in Washington can be simple. A local independent insurance agent can help you get business insurance quotes from multiple insurance companies so that you can select the best policy for your needs and budget.

How Can an Independent Insurance Agent Help Me Find the Best Business Insurance in Camas, WA?

Instead of getting an online quote, find an independent insurance agent now, and get a one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of business insurance quotes in Camas so that you can make the best choice.  

What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.

Contact an agent today for a free, no-obligation consultation.