At Elliott, Powell, Baden & Baker, Inc., we’ve helped businesses across Oregon manage risk and develop insurance programs for over seventy years. As an independent agency, we work with multiple top-rated carriers and understand how Oregon regulations and local business risks affect coverage decisions.

If you own a business in Oregon, the right business insurance starts with a few core coverages, then expands based on how your business operates. Below are the most common types of insurance, along with simple, real-world examples.

Core Coverages Most Oregon Businesses Need

General Liability Insurance

What it covers:

• Injury to customers or visitors
• Damage to someone else’s property
• Legal defense costs

Example:
A customer slips on a wet floor in your retail store and is injured. General liability insurance may help cover medical expenses and legal costs.

Commercial Property Insurance

What it covers:

• Buildings (if owned)
• Equipment, tools, and inventory
• Furniture and business property

Example:
A fire damages your office or shop, including computers and equipment. Property insurance may help pay to repair or replace those items.

Workers’ Compensation Insurance (Required in Oregon)

What it covers:

• Medical expenses associated with on-the-job injuries
• Lost wages from work-related injuries

Oregon requirement:
Most businesses in Oregon must carry workers’ compensation if they have employees.

Example:
An employee injures their back while lifting materials on the job. Workers’ compensation may help cover their medical care and lost wages.

Coverage Based on How Your Business Operates

Commercial Auto Insurance

Needed if:

• Your business owns vehicles
• Employees drive for work

What it covers:

• Accidents, injuries, and property damage involving business vehicles

Example:
An employee causes an accident while driving a company truck to a job site. Commercial auto insurance may help cover damages and injuries.

Professional Liability (Errors & Omissions)

Needed if:

• You provide professional services or advice

What it covers:

• Claims of negligence
• Errors or failure to deliver services as expected

Example:
A consultant provides incorrect advice that leads to financial loss for a client. Professional liability insurance may help cover legal costs.

Cyber Liability Insurance

Needed if:

• You store customer data
• You process payments

What it covers:

• Data breaches
• Cyberattacks
• Notification and recovery costs

Example:
Your business experiences a data breach exposing customer information. Cyber insurance may help cover notification costs and system recovery.

Coverage That Protects Your Income

Business Interruption Insurance

What it covers:

• Lost income if your business cannot operate due to a covered event

Example:
A fire forces your business to temporarily close. Business interruption insurance may help replace lost income during that period.

Additional Protection Many Oregon Businesses Consider

Excess or Umbrella Liability Insurance

What it does:

• Adds additional liability protection above your existing policies

Example:
A lawsuit exceeds your general liability limits. An excess or umbrella policy may provide additional coverage beyond those limits.

How Oregon Businesses Choose the Right Coverage

Insurance needs vary based on:

• Industry and operations
• Number of employees
• Contract requirements
• Value of business assets

For example:

• A contractor may need tool coverage and higher liability limits
• A retail store may focus on property and customer-related risks
• A consultant may prioritize professional liability coverage

Most small businesses in Oregon need a combination of liability, property, and employee-related coverage, with additional protection based on how they operate. The goal is to align your insurance with your actual risks, not just meet minimum requirements.