W.B. Adams Company

14737 SW Millikan Way
Beaverton, OR 97003

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Three frequently asked questions about commercial insurance

It would help if you learned as much as possible about commercial insurance when you’re on the market for a policy to protect your company. We insure businesses in Beaverton, OR at W.B. Adams Company. The following are three frequently asked questions about commercial insurance.

What’s a standard Business Owners Policy (BOP)?

One of the most basic coverage options for a small business is a Business Owners Policy (BOP). This type of policy covers commercial property and liability expenses.

This type of policy will also offer business interruption coverage. Business interruption coverage will cover a loss of revenue because a business was prevented from continuing operations for various reasons. 

How much liability insurance does my company need?

When a company purchases commercial insurance, it’s important to undergo a risk assessment. A risk assessment determines what liability risks a company faces. This assessment can help pinpoint the amount of coverage that a particular business requires.

A company’s liability coverage needs to depend in large part on its industry and size. However, numerous additional factors can impact liability coverage needs. 

How can commercial insurance costs be minimized?

Commercial insurance costs are business expenses that cut into a company’s bottom line. As such, minimizing insurance expenses helps to maximize profits. 

Business owners can minimize commercial insurance costs by frequently reevaluating insurance coverage over time. They can also purchase all types of commercial insurance from the same provider to enjoy bundling discounts. Business owners looking to bring down insurance costs might also consider a policy with a higher deductible. 

If you have your own questions to ask about commercial insurance in Beaverton, OR, we’re here to help at W.B. Adams Company. Get in touch with us for answers to all your commercial insurance questions.

When do I need commercial insurance for my Oregon Business?

The Beaverton, OR area continues to be well known for having an excellent local economy. Due to this, it can be a great place for anyone to start a company. Those that have a company in this area of Oregon could end up being quite successful. To ensure that your business is adequately protected, it is essential that you get a commercial insurance policy in place. 

Comply with Lenders and Investors

One of the reasons why you will need to have commercial insurance for your Oregon business is so you can comply with the requirements set forth by your lenders and investors. All lenders and investors know how important it is for a company to have proper insurance. Due to this, they will make sure that you have appropriate coverage at all times and may also require escrow payments.

Protects Business Investment

Another reason why you will want to have commercial insurance for your business is that it can help to protect the investment that you have in your business. If there is ever an accident or other incident that either damages company assets or puts you at risk for a liability lawsuit, the ultimate impact of this could be significant. Fortunately, when you get commercial insurance, you will have the coverage that you need to protect against this.

If you have a business in Oregon and would like to protect it with commercial insurance, it would be a good idea to contact the W.B. Adams Company as soon as you can. Choosing commercial insurance for a company can be quite challenging and complicated. When you work with W.B. Adams Company in Beaverton, OR, you can receive the assistance and support that you need to make the right insurance decision to protect your organization adequately.