Small Business Insurance Program
Small Business Insurance Program Coverage You Can Depend On!
Bancorp Insurance offers tailored small business insurance programs to protect your building, business personal property, your employees and your own liability.
Central Oregon is one of the country’s largest self-employed, small business or remote worker population. It’s becoming more and more common to work where life takes you, be that a home office, a recreational vehicle that travels the country or just from your smartphone.
We offer insurance that is custom tailored to your business needs. If you have a dream and a plan, we will help you protect it!
Get Back to Doing What You Do Best, Leave Your Insurance Needs to Us!
Our Small Business Programs Offer Coverage For:
- General Liability Insurance
- Commercial Property Insurance
- Business Auto Insurance
- Commercial Umbrella Insurance
- Workers Compensation Insurance
GENERAL LIABILITY INSURANCE
Every business owner needs General Liability (GL). General Liability covers you and your employees if your business causes bodily injury or property damage to a customer, employees or the general public. If you own or rent a building it will cover, you if a customer slips and falls and hurts themselves while at your place of business. If you damage property of others there is coverage under your GL policy. Every GL policy has exclusions and many of them are written with a specific class of business in mind. My best advice is to read your policy and pay attention to the exclusions and endorsements on the policy. Exclusions take coverage away; they never add coverage. Endorsements, on the other hand, normally add coverage. You need to read both the exclusions and endorsements and ask a lot of questions. Make sure your business exposure is covered.
COMMERCIAL PROPERTY INSURANCE
If you are renting or you have bought a space to run your business from, you will need property insurance. Property insurance covers you for loss or damage of the actual building where your business is located. There are several kinds of property insurance. The building itself, signs and your business personal property, which usually consists of desks, chairs, supplies etc. The best description I have of business personal property is if you picked up the building and shook it, all the stuff that would fall out because it’s not attached to the building is business personal property.
If you drive a business car and it’s owned by the business, then it should be insured on a business auto policy. There are additional coverages that business owners need, and you do not need on your personal business policy. An example is non-owned and hired coverage. If you send an employee to pick something up so you can finish a job and they hop into their car and while they are on their way to the bank, post office, hardware store, you name it, and they have an accident, your business will be held liable. Why, because the employee would not have been in the car at that time unless they were working for you. It was during the course of business, and they were performing their job as per your request. I discuss in more detail under the resources on this page.
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Small business insurance helps you protect your building, business personal property, your employees and your own liability.
Request an in-person, virtual or telephone appointment to discuss your coverage needs.
COMMERCIAL UMBRELLA INSURANCE
Umbrella policies cover your liability over the liability limits on your other insurance policies. Umbrella insurance is ideal to provide an added layer of protection, but often times it also covers gaps in your primary insurance policy.
The following coverages are provided by Umbrella Liability Insurance:
- Bodily Injury Liability – Provides coverage for damages to another person’s body.
- Personal Injury Coverage – Covers the costs of mental anguish attributed to slander, libel, false arrest, defamation of character.
- Property Damage Liability – Pays for the costs associated with another person’s property damage or loss.
If you hire employees in the state of Oregon, you’re required to buy Workers Compensation Insurance. There are a few exceptions to this rule. One of them being if it’s a family run and operated business you may not be required to provide Workers Compensation. However, because of legislation in Oregon Workers Compensation is very inexpensive comparative to other states and I normally advise owners to buy it and cover their employees if they get hurt on the job.
Meet the Bancorp Commercial Line Agents
Specialties: Business Personal Medicare
Specialties: Business Contractors Wildland Firefighter
Specialties: Business Contractors