Category: Commercial Insurance

Many companies carry worker’s compensation insurance. This insurance helps cover the costs of getting injured on the job. For example, the company is often liable if someone falls on the job without a wet floor sign. Workman’s compensation will cover the cost of disability if the person can no longer work, even temporarily. It can also cover medical expenses. However, the laws and regulations often vary depending on the state. 

Oregon Laws

Many states require companies to offer worker compensation. However, companies in Portland, OR, can also be self-insured. According to state law, you don’t have to carry workman’s compensation insurance as long as you are self-insured and your insurance covers the same things. Self-insured businesses must work with their insurance company, like H & R Insurance Group LLC, to determine if they meet state worker compensation guidelines. 

Law Exceptions

There are certain exceptions to this law. Companies are not required to carry worker’s compensation on independent contractors. Family member business owners and others who own a large portion of the company may not be eligible for worker’s compensation claims. If you hire people as independent contractors instead of employees, you are not responsible for their injuries like an employee. Working with a knowledgeable insurance agent is crucial to ensure your company complies with the law in Portland, OR. 

Contact H & R Insurance Group LLC

Companies who fail to provide workman’s compensation can face fines. Businesses are still responsible for the lost wages, medical expenses, and the overall cost of injuries, even if there isn’t insurance to pay the bill. Employees can, and often do, sue the company to cover these expenses. Working with an experienced H & R Insurance Group LLC agent can ensure you comply with the law. Contact us for more information today. 

It is crucial to have the appropriate types of insurance when running a business. Numerous commercial coverage options exist to shield your business from various types of risks. To figure out the specific commercial insurance policies your business requires, consult with an insurance agent. Feel free to contact us at H & R Insurance Group LLC in Portland, OR.

Workers’ Compensation

Workers’ Compensation is an essential form of commercial insurance required by any business with employees. In Oregon, every business with one or more employees must have it. It is crucial to protect your business against the substantial costs of medical treatments should any worker get injured.

Professional Liability

Professional Liability insurance is a necessity if your business depends on providing expertise to your clients, as with doctors treating patients. This insurance safeguards you if your advice or service is incorrect or otherwise negatively impacts your clients. Professions such as lawyers, accountants, and any other, depending on your expertise, should consider this coverage.

Commercial Auto Insurance

All vehicles owned by your business must comply with commercial policy. This ensures legal compliance and provides the protection you need against accidents. The policy won’t be honored if a personal policy covers a business vehicle and an accident occurs during work tasks. This would leave all subsequent repair and medical bills to your company. It is crucial to always ensure that this policy covers your vehicles.

Acquiring Commercial Insurance

We can help you obtain the appropriate insurance policies for your business. Contact us at H & R Insurance Group LLC in Portland, OR.

Insurance Protection for Heavy-Duty Warehouse Equipment

Owning and controlling heavy-duty machinery in your warehouse needs proper financial safeguarding. To understand these specific needs, we will cover situations that require protecting your expensive machinery.

Potential Situations Where Insurance is Beneficial:

• Injuries: Operating automated machines, bulldozers, or cranes in your workspace could potentially lead to injuries. Ensuring all your workers are adequately instructed to handle the machinery they’re tasked with is vital. Additionally, a well-structured commercial insurance plan covering costs that stem from any unfortunate incidents in your warehouse significantly helps.
• Theft: Heavy-duty machinery parked in isolated locations runs a high risk of being stolen. Your insurance policy should ideally cover the outlays involved in replacing stolen machinery. If your gear gets stolen, your policy will offer the necessary protection to source replacements in time.
• Vandalism: Your equipment can be vandalized when your business is inactive. Repairing defaced machinery might involve professional services for cleaning and recuperation. Adequate insurance coverage can cover these remedial service expenses.
• Security: Ensuring the security of your machinery when in storage is mandatory. It’s advisable to keep all your equipment under lock and key after a day’s work. Setting up lights in your equipment storage area might deter trespassers from attempting theft. Similarly, installing CCTV cameras or additional security devices will enhance the security quotient.

You are welcome to reach out to an H & R Insurance Group LLC agent who serves the Portland, OR, region to inquire about commercial coverage specifically tailored to protect your machinery. Enjoy peace of mind with the security of your heavy-duty machinery by securing a new commercial insurance policy.

You could face major consequences if your Portland, OR small business doesn’t have the right commercial insurance. There are several kinds of insurance to choose from, and it can be confusing. H & R Insurance Group LLC can answer your questions so you choose the coverage that’s right for you.

Commercial Coverage Options

General Liability Insurance

Almost every small business carries general liability insurance. Required by most commercial leases, this kind of protection protects you from injuries to third parties.

Commercial Property Insurance

This coverage protects the building where your office is located and its contents, such as inventory and equipment. You can bundle general liability and property insurance into a BOP policy for convenience and money saving.

Workers’ Compensation Insurance

This is one of the few kinds of commercial insurance required by law. If one of your employees is injured at work, regular health insurance may not pay. 

Commercial Auto Insurance

Your personal auto insurance will not pay for accidents involving your business.

Professional Liability Insurance

This kind of protection is for professionals, such as accountants or attorneys, whose mistakes lead to potential claims.

Cyber Insurance

Data breaches and cyberattacks are becoming more prevalent. Cyber insurance not only helps to cover associated financial losses, but it can also assist with other issues such as investigators and legal assistance.

Commercial Umbrella Insurance

Umbrella insurance adds a higher level of protection to all your other policies. Once those policies reach their limits, your umbrella policy will kick in and protect you from further financial responsibility.

Reach Out To Us

What are the risks facing your Portland, OR business? You are the one who knows best what kind of risks you face. If you have any questions or would like to discuss adding one of these coverages, please call H & R Insurance Group LLC today.

Being a business owner in the Portland, OR area has been a good idea for many people who want to be their own boss. When you choose to open a business in this area of Oregon, you will enjoy the significant population and support for local businesses. While you can be successful as a business owner here, there are various risks that you will take on. One way that you can mitigate these risks is by getting a commercial insurance policy.

You should obtain this coverage here for various reasons:

Ensure Assets are Covered

When you are going to own any type of business, you will have assets that you will rely on to run the company. If the assets are damaged by a fire, stolen, or you incur other forms of a loss, it can be very detrimental to your business’s future. Fortunately, you can mitigate many of these risks by getting a commercial insurance policy that will provide support so you can replace or repair these assets. 

Offset Liability Risks

Mitigating your commercial liability risk can also be done with commercial coverage. If you are going to run a business, you will take on liability risks regularly. A great way that you can offset this concern is by getting a commercial insurance plan that has a full liability policy. 

Schedule A Consultation Today!

As you are looking to grow your business in the Portland, OR area, you will quickly find that having a commercial insurance plan is necessary. When you are considering your commercial insurance options, it could be a great idea to call our team with H & R Insurance Group LLC. Our professionals at H & R Insurance Group LLC know the importance of this coverage and will give support to help you build a plan.