State law requires some businesses to carry certain insurance. However, it’s a good idea to voluntarily purchase the right commercial insurance for your business in Portland, OR. Northwestern Insurance Group LLC agents can provide the advice you need to choose the right policy for your company.
Here are some of the most common types of business insurance:
General Liability Insurance
General liability insurance covers property damage and bodily injury plans against your company. If a customer slips and falls in your office or retail store, general liability insurance will cover the cost of medical expenses. In some cases, it also covers liability for work done on location by you and your staff.
Professional Liability Insurance
Professional liability insurance pays for claims related to unintentional mistakes made while providing professional services. If you own an accounting firm and make an error on a customer’s financial reports, you may have to pay for it out of pocket if you don’t have professional liability insurance. This coverage is also called errors and omissions insurance.
Business Income Coverage
If your business experience is interrupted, business income coverage reimburses you for lost income. Examples include fire or storm damage and losses due to theft.
Commercial Property Insurance
Property insurance for your business covers rented or owned property and equipment. If someone steals computers from your office or expensive equipment from your restaurant, commercial property insurance can help cover the cost of replacing the lost items.
Data Breach Insurance
If you purchase data breach insurance, it can help cover the cost of hackers exposing And stealing customer data. Typically, data breach insurance covers the cost of notifying impacted clients and federally mandated credit monitoring services related to the breach. It can also cover the cost of improving public relations following a breach.
Commercial Umbrella Insurance
If you want to extend your existing commercial insurance policy, umbrella insurance can bridge the gap. So, for claims exceeding policy limits, your umbrella insurance would reimburse you up till the maximum payout.
Give Us A Call
Contact Northwestern Insurance Group LLC to learn more about commercial insurance for your business in Portland, OR.