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Business Insurance in Oregon
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Recommended insurance policies for small businesses in Oregon
General liability insurance
This type of business liability insurance is important for all Oregon businesses. It covers common third-party risks, and it's required by most commercial leases.
BEST FOR
- Customer bodily injuries
- Damaged customer property
- Libel and other advertising injuries
Professional liability insurance
This policy, also called errors and omissions insurance (E&O), protects Oregon businesses that provide professional services or advice. It covers lawsuits related to work performance.
BEST FOR
- Work mistakes and oversights
- Professional negligence lawsuits
- Late or incomplete work
Cyber liability insurance
This policy covers financial losses from data breaches and cyberattacks. It's recommended for Oregon businesses that handle credit card numbers and other sensitive data.
BEST FOR
- Customer notification expenses
- Fraud monitoring services
- Data recovery costs
Business owner’s policy
A BOP bundles commercial property insurance and general liability coverage in one plan. It's often the most cost-effective type of commercial insurance for an Oregon business.
BEST FOR
- Customer bodily injuries
- Damaged customer property
- Damaged business property
Workers’ compensation insurance
Workers’ comp insurance is required for Oregon businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
BEST FOR
- Employee medical expenses
- Partial missed wages
- Legal fees from employee injuries
Commercial auto insurance
This policy is required for business-owned vehicles in Oregon. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage.
BEST FOR
- Accidents involving business vehicles
- Theft of a commercial vehicle
- Damage to a company vehicle
Looking for different coverage? See more policies.
Oregon business insurance requirements
State laws can affect which business insurance coverage you need. These policies are required everywhere in Oregon, from Portland to Eugene.
Workers' compensation insurance
Oregon state law requires businesses with employees, full-time or part-time, to purchase workers’ compensation insurance.
Workers' comp covers medical bills for work-related injuries and illnesses, and provides disability benefits to injured Oregon workers. Most policies include employer's liability insurance, which helps cover costs when an employee blames their employer's negligence for an injury.
Commercial auto insurance
All business-owned vehicles in Oregon must be covered by commercial auto insurance. This policy covers the cost of accidents involving work vehicles.
Oregon’s minimum requirements for auto liability insurance are:
- Bodily injury liability: $25,000 per person / $50,000 per accident
- Property damage liability: $20,000 per accident
- Uninsured motorist coverage: $25,000 per person / $50,000 per accident
- Personal injury protection: $15,000
Trucking companies may need additional coverage to comply with regulations.
Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to commercial general liability insurance or business owner's policies (BOP).
How much does small business insurance cost?
Commercial insurance can be affordable for Oregon small business owners. Factors that influence the cost include:
- Type of business and its risks
- Business operations and location
- Number of employees
- Types of business insurance purchased
- Policy limits and other coverage options
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Find the right policies and get your certificate of insurance
Insureon's licensed agents can help you find policies that fulfill Oregon's requirements and your business insurance needs. Once you've purchased insurance with us, you can download a certificate of insurance by logging into your account.
In Oregon, insurance agencies, agents, and brokers are licensed by the Oregon Insurance Division. Insureon is licensed in Oregon as BIN Insurance Holdings LLC (NPN 15752926) for property and casualty insurance and for surplus lines (license number 100169620). Verify our licensure with the National Association of Insurance Commissioners: select Oregon, licensee, business entity, and then enter our NPN or license number.