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What Does Business Insurance in Portland Cover?
Nearly 641,000 people live in Portland, Oregon, making it the 25th most-populated city in the U.S.1 As one of the busiest ports on the west coast, Portland helps support the export industry in Oregon, where more than 5,000 small businesses exported goods worth $4.8 billion in 2019.2 Small business owners rely on business insurance in Oregon to protect their assets from property damage and their employees from bodily injury. With nearly 400,000 small businesses in the entire state of Oregon, it’s important that entrepreneurs have the right coverage to keep their doors open.
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How Much Does Small Business Insurance in Portland Cost?
Our customers paid an average of $823 annually, or about $68 a month, for business insurance coverage in Oregon. For workers' compensation insurance, customers in Oregon paid an average of $1,166 annually, or about $97 a month. 3 Your specific cost for business insurance in Oregon will vary based on a number of factors, like your:
- Business location
- Type of industry
- Claims history
- Number of employees
Most small businesses in Portland, Oregon will need a few different types of business insurance. Our specialists can help you decide on the best coverages to protect your business and even get you a business insurance quote hoy mismo.
What Types of Business Insurance in Portland are Required?
As a small business owner in Portland, you should consider these types of business insurance coverages to help protect your property and keep your employees safe:
- General liability insurance helps protect your business from claims of bodily injury or property damage during normal business operations.
- Oregon workers’ compensation insurance provides benefits to your employees to help them recover from a work-related injury or illness. It can also help cover your legal fees if an employee sues you. Oregon requires small businesses with one or more employees to carry workers’ comp coverage.
- Commercial property insurance helps protect the owned or rented commercial property that you use to operate your business.
- Business Owner’s Policy (BOP) combines general liability, commercial property and business income insurance into one business insurance policy. Many small business owners choose to have a BOP as a simple and convenient way to bundle business insurance in Portland, OR.
- Cyber liability insurance helps cover expenses from technology-related risks such as a data breach or cyberattack. If you collect, store, send or receive customer information, this coverage is important for your small business to have.
- Professional liability insurance also known as errors and omissions insurance, protects you and your Oregon small business if someone sues you for making a mistake in your professional services.
- Commercial auto insurance can help you pay for property damage or bodily injury caused by an auto accident with a company-owned vehicle.
While some of these types of business insurances are required by state law, such as workers’ compensation insurance, all of these policies can help small businesses in Portland avoid expensive litigation.
Get a Quote for Small Business Insurance in Portland, Oregon
Not all insurance companies have the same expertise. For more than 200 years, we’ve helped over 1 million small business owners get the right insurance to protect their assets.
So, whether you want to get a business insurance quote online or need help filing a claim, our specialists are here for you.
Obtenga una cotización hoy and learn how we can help you find small business insurance in Portland.
Last Updated: November 17, 2023
1 U.S. Census Bureau Quickfacts for Portland, OR, 2020
2 U.S. Small Business Administration Office of Advocacy, Oregon Small Business Profile, 2021
3 Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
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