Below are some of the more frequent questions we receive as an agency. If you have a specific question please do not hesitate to give us a call or email.
Commercial Trucking
Business Insurance
Absolutely. Business Interruption Insurance can be tailored to meet the unique needs of different industries, ensuring that the specific risks and operational requirements of your business are adequately covered.
Yes, Business Interruption Insurance covers ongoing operating expenses such as utilities, rent, and payroll, helping your business stay afloat during the interruption period.
No, Business Interruption Insurance is usually an add-on or rider to a standard property insurance policy. It must be specifically requested and included in your coverage plan.
The coverage period, known as the indemnity period, usually lasts until your business resumes normal operations, but it is subject to a maximum time limit specified in your policy.
Business Interruption Insurance typically does not cover losses due to pandemics or infectious disease outbreaks. For such coverage, you might need a specialized policy or endorsement.
It’s recommended to review your BOP annually or whenever there are significant changes in your business, such as expansion, new services, or changes in ownership. Regular reviews ensure that your coverage remains adequate and up to date with your business needs.
When selecting a BOP provider, consider factors such as the provider’s reputation, customer service, claims handling process, and the flexibility of coverage options. It’s important to choose a provider that understands your industry and can offer the support you need.
Yes, a BOP is highly customizable. You can add endorsements or additional coverages to address specific risks unique to your business, ensuring that you have comprehensive protection tailored to your needs.
The cost of a BOP varies depending on factors such as the size of your business, industry, location, and coverage limits. It’s best to get quotes from multiple providers to find the most affordable option for your specific needs.
A BOP typically does not cover professional liability, workers’ compensation, health and disability insurance, or commercial auto insurance. For instance, if your business involves providing professional services, you would need separate professional liability insurance to cover errors or omissions in your work.
Commercial Auto
A personal auto policy typically does not cover business use of your vehicle. HNOA provides the necessary liability coverage for business-related driving of non-owned vehicles, filling the gap left by personal auto policies.
Yes, HNOA provides liability coverage when you use your personal vehicle for business tasks. However, it does not cover physical damage to your vehicle.
Yes, HNOA can often be added as an endorsement to an existing commercial auto or general liability policy, providing an additional layer of protection.
Yes, even occasional use of non-owned vehicles for business purposes can expose your business to significant risks. HNOA provides essential coverage for these scenarios.
HNOA does not cover physical damage to the hired or non-owned vehicle itself. For protection against damage to the vehicle, you would need comprehensive and collision coverage.
To get a quote for Commercial Auto Insurance, you will need to provide details about your business operations, the types and number of vehicles to be insured, the primary use of each vehicle, driver information, and any previous claims history. This information helps insurers assess risk and provide an accurate quote.
Commercial Auto Insurance covers vehicles used for business purposes and typically offers higher liability limits than Personal Auto Insurance. It also includes coverage options specifically designed for business use, such as Hired and Non-Owned Auto Coverage and higher liability limits.
Yes, Commercial Auto Insurance allows you to cover multiple vehicles under a single policy. This is particularly beneficial for businesses with a fleet of vehicles, providing comprehensive coverage and simplifying policy management.
Yes, if your employees use their personal vehicles for business purposes, you should consider Hired and Non-Owned Auto Coverage. This policy provides liability protection in case an employee’s personal vehicle is involved in an accident while performing business tasks.
Commercial Auto Insurance does not cover intentional damage, personal belongings inside the vehicle, or certain types of business equipment. For coverage of personal belongings, consider Personal Property Insurance. For business equipment, Inland Marine Insurance may be appropriate.
Workers Compensation
The time frame for filing a Workers’ Compensation claim varies by state, but it typically ranges from 30 days to two years from the date of the injury. It’s important for employees to report injuries as soon as possible to ensure timely processing and receipt of benefits.
In most cases, Workers’ Compensation Insurance prevents employees from suing their employer for work-related injuries. This coverage is designed to provide benefits without the need for litigation. However, employees can still sue in cases of gross negligence or intentional harm by the employer.
Employment Practices
The time frame for filing a Workers’ Compensation claim varies by state, but it typically ranges from 30 days to two years from the date of the injury. It’s important for employees to report injuries as soon as possible to ensure timely processing and receipt of benefits.
In most cases, Workers’ Compensation Insurance prevents employees from suing their employer for work-related injuries. This coverage is designed to provide benefits without the need for litigation. However, employees can still sue in cases of gross negligence or intentional harm by the employer.
Professional Liability
To file a claim, you should contact your insurance provider as soon as possible. They will guide you through the process, which typically includes providing details about the claim, submitting necessary documentation, and cooperating with any investigations.
Generally, premiums paid for Professional Liability Insurance are tax-deductible as a business expense. However, it’s best to consult with a tax professional to understand the specifics of your situation.
Yes, many policies allow you to add additional insureds, such as clients or business partners, which can be beneficial in contractual agreements.
The amount of coverage you need depends on the size of your business, the nature of your services, and the risks involved. It’s advisable to assess your specific needs with an insurance expert to determine the appropriate coverage limits.
Professional Liability Insurance does not cover intentional wrongdoing, bodily injury, property damage, or non-professional activities. For these types of risks, General Liability Insurance is more appropriate.
Commercial Property
It’s advisable to review your policy annually or whenever significant changes occur in your business, such as renovations, purchasing new equipment, or changes in inventory levels, to ensure your coverage remains adequate.
Contact your insurance provider immediately to report the incident. Document all damages with photos and keep records of related expenses. Your provider will guide you through the claims process.
Yes, many insurance providers offer package policies, such as a Business Owner’s Policy (BOP), which combines Commercial Property Insurance with General Liability Insurance and other coverages for a comprehensive protection plan.
Evaluate the replacement cost of your building and contents, considering factors like location, industry-specific risks, and the value of your assets. It’s essential to choose coverage limits that fully protect your investment.
Commercial Property Insurance typically does not cover damages from floods or earthquakes. Separate policies, like Flood Insurance or Earthquake Insurance, are required for these specific risks.
Bonds
Yes, surety bonds typically have a set term and need to be renewed upon expiration. The term length can vary depending on the type of bond and the requirements of the obligee. It’s important to keep track of your bond’s expiration date and ensure timely renewal to maintain compliance and coverage.
Yes, it is possible to get a surety bond with bad credit, though it may come with higher premiums. Many surety companies offer programs specifically designed for businesses with credit challenges. It’s essential to work with an experienced agent who can help you navigate this process and find the best options available.
If a claim is made against your surety bond, the surety company will investigate the claim to determine its validity. If the claim is found to be valid, the surety will compensate the obligee up to the bond amount. However, the principal (your business) is ultimately responsible for repaying the surety for any claims paid out.
The time frame to obtain a surety bond can vary based on the type of bond and the complexity of your business operations. Typically, it can take anywhere from a few hours to a few days. For more complex bonds, the process might take longer as it involves thorough evaluation and approval.
Surety Bonds Insurance does not cover direct business losses, damages to property, or liability claims. For instance, if your business suffers from property damage, you would need a property insurance policy to cover those losses. Surety bonds are specifically designed to guarantee contractual obligations and compliance with regulations
Cyber Liability
Yes, Cyber Liability Insurance can cover business interruption costs, helping your business recover lost income and additional expenses incurred while restoring operations after a cyberattack.
While both types of insurance provide coverage for cyber incidents, Cyber Liability Insurance typically offers broader protection, including business interruption, cyber extortion, and regulatory fines, whereas Data Breach Insurance focuses mainly on the costs associated with data breaches.
Even with robust cybersecurity measures, no system is completely immune to cyber threats. Cyber Liability Insurance provides an additional layer of protection, covering the financial losses and recovery costs associated with a cyber incident.
Cyber Liability Insurance can cover the costs associated with meeting regulatory requirements, such as notification expenses, legal fees, and fines or penalties for non-compliance with data protection laws.
Cyber Liability Insurance typically does not cover physical damage to hardware, bodily injury, or property damage. For these types of coverage, you would need a General Liability or Property Insurance policy.
Builders Risk
To file a claim, contact your insurance provider immediately after a loss occurs. Provide details of the incident and any supporting documentation. Your insurer will guide you through the claims process.
Yes, Builder’s Risk Insurance is beneficial for renovation projects as well. It covers the value of the work being done and any materials used in the renovation.
Yes, Builder’s Risk Insurance can be tailored to fit the specific needs of your project. This includes adjusting coverage limits and adding endorsements to cover additional risks.
Coverage typically lasts for the duration of the construction project, from the start date to its completion. Policies can usually be extended if the project takes longer than expected.
Builder’s Risk Insurance does not cover accidents and injuries on the job site, worker theft, or liability risks. For these, you would need General Liability Insurance or Workers’ Compensation Insurance.
24/7 access to everything you need.
Our state-of-the-art portal allows businesses and familis to locate, purchase, and manage specialized insurance policies quickly. Weeks of waiting and stacks of paperwork are officially obsolete.
Policy Changes
Report a Claim
Request Certificates
Download Documents
Let’s Connect.
Call our Oregon office today.
