Equipment Rental Insurance Oregon (Quotes, Cost & Coverage)

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Frequently Asked Questions About
Commercial General Liability Insurance

How much does commercial insurance cost?

Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.

What kind of business insurance do I need?

Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.

What is a Certificate of Insurance?

A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.

Is business insurance tax deductible?

Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.

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Equipment Rental Insurance Oregon

OR Equipment Rental Insurance

Equipment Rental Insurance Oregon. If you own a business that rents out equipment to other businesses or individuals, then equipment rental business insurance is a paramount purchase to ensure your business' mitigation of liability and loss. Whether you're renting out rototillers for digging up a garden or party tents for weddings, covering your risks is an important part of being a responsible and successful business owner.

When you own a business that rents out equipment, the perils you face are very real. You may rent a piece of equipment to someone who subsequently becomes injured by the equipment. If this happens, you may be held responsible and held liable for the ensuing damages, including any medical costs and any costs for property loss. Equipment rental insurance Oregon can mitigate your losses and help your business maintain its growth despite any claims and lawsuits that might arise.

Equipment rental insurance Oregon protects your business from lawsuits with rates as low as $97/mo. Get a fast quote and your certificate of insurance now.

Basic Insurance for Rental Equipment Businesses

There are some basic coverage types that all businesses, including equipment rental businesses, must consider. Some of them include:

  • General liability coverage. If you or someone working for you are held responsible for property damage or bodily ideury, then this Equipment rental insurance Oregon coverage can be a godsend.
  • Property insurance coverage. This protection provides peace of mind that the investment you've made in your equipment is not a loss if someone damages or steals items from your equipment inventory. It also covers the physical building in which you do business and non-rental items inside.
  • Commercial vehicle insurance. Auto insurance to cover your business vehicles is important. This coverage should extend to your employees who use company vehicles.
  • Worker's compensation. This coverage is oftentimes included in mandatory state taxes. If not, it is a valuable coverage that provides monetary payments for illness or ideury related to work as well as medical payments for injured or ill workers.

Rental Equipment Coverage

There are two main areas of concern when it comes to the risks that you face with your rental equipment. The first of these is that the equipment is at risk of damage or loss when you rent it out to your customers. Secondly, it can become a source of bodily ideury or cause damage to property. Because of these risks, it is important to work with an insurance agent who understands the intricacies of such coverage and the overall nuances of the equipment rental business to find a an Equipment rental insurance Oregon policy package that covers your business from all angles.

The agent may recommend inland marine protection. This type of floater policy covers the equipment that you have both at your business and off the property, without regard to who is operating or handling the equipment. This all-risk policy generally has a per-loss deductible. Another common recommendation is enhanced general liability coverage. This type of policy can protect your business from property damage claims and claims of bodily ideury that arise from the operation of your business. This includes any rental items that your customers use.

Your Rental Business and Rental Agreement

In general, your business should have an attorney-approved rental agreement in place to allocate the responsibility of damage or loss of your rental items. This agreement should also address liability claims and the responsibility of payment of those claims. Still, regardless of the responsibility assigned to the customer by the rental agreement, your business still needs adequate Equipment rental insurance Oregon coverage. For instance, if there is a possibility that your customer lacks the knowledge or skill for proper equipment use, you may be left liable. If the customer loans out the equipment to someone else prior to returning it, you can be held responsible for losses or ideury from the third party.

The customer might also be unwilling to meet the obligations laid out under the agreement. It may also be the case that the customer absconds with the property, leaving you holding the bag for replacement. In these scenarios, the right level and type of coverage can mitigate these losses and leave your business whole again.

If you rent out equipment that has a high replacement value, it may be best practice to require that the customer purchase insurance that covers any liability or loss for both the customer and your business and furnish you with a certificate of insurance to prove coverage.

Choosing Your Equipment Rental Insurance Policy

Work with a commercial agent when choosing equipment rental insurance. Your agent is adept at understanding your unique needs and can recommend the right level and type of coverage for you and your business. By explaining your business model and the risk that customers may face when renting from you, your agent is better able to understand how much insurance, the type of Equipment rental insurance Oregon insurance, and the level of coverage that your business needs.

Your agent can customize your insurance package to meet your needs and can compare rates for insurance policies that meet your needs with different companies. This gives you the ability to find the right Equipment rental insurance Oregon policy for your budget.

Oregon Business Economic Outlook & Commercial Insurance Regulations

If you are thinking about doing business in the Pacific Northwest, you might have your sights set on Oregon. However, before you set up shop, it's important for you to have an understanding of the economy - so that you can make the best decisions possible. It's also important for you to know what type of business insurance policies you are legally required to carry in order to do business in OR.

Made In Oregon

In order to help set you up for success, below, we highlight some of key information regarding the economy in Oregon, as well as the regulations regarding commercial insurance.

The Economic Outlook In Oregon

In 2018, Oregon is projected to see an increase in their economy. The unemployment rate was 4.1 percent at the end of 2017, and it is expected that it will either stay the same or drop even lower by the end of 2018.

There are several industries that are expected to contribute to the job market and the economy overall in the state of Oregon. The industry that is expected to see the most gain in this state during the 2018 calendar year is construction, with an increase of 10.5 percent. The manufacturing industry is also expected to see significant growth, with a forecasted increase of 4.3 percent. Other industries that are expected to see growth in OR in 2018 include:

  • Financial Services
  • Lodging
  • Mining
  • Trade
  • Transportation
  • Utilities
Insurance Requirements For Oregon Businesses

The Division of Financial Regulation oversees the insurance industry in Oregon. Here workers compensation insurance is mandated. If you employ one or more person, whether that person is full-time or part-time, or is hourly or salaried, you are legally required to carry this type of coverage. Additionally, you must carry commercial auto insurance if you operate vehicle for any business-related purposes, whether it's meeting with clients, making deliveries, or transporting goods.

While commercial general liability insurance is not required in OR, it is highly recommended. This type of coverage will protect you from any lawsuits and the accompanying settlements that may arise in the event that some slips and falls, or claims that you damaged their property. You should also consider investing in commercial property insurance, as it can help to offset the cost of any property losses that you might experience.

Additional Resources For Retail Insurance

Read valuable small business retail insurance policy information. In a retail business, you need to have the right type of commercial insurance coverage so that your store, employees, and inventory are protected.


Retail Insurance

The businessowners policy was designed with retail exposures and operations in mind. For this reason alone, it should always be the first type of package coverage to consider. However, for those risks not eligible for the business owners policy program, the commercial package policy (CPP) is a practical and convenient way to combine a number of coverages into one policy.

Retail businesses generate income through interaction with customers. This interaction is also how a customer can sustain an injury and then sue the retailer for damages. Hazards, exposures and operations both on premises and off are important and must be covered, but liability the retailer may incur because of the merchandise sold must also be considered and insurance protection arranged.

Inventory or stock is the major property exposure for most retail operations. Because stock values tend to fluctuate or have significant peaks at certain times of the year, value reporting or peak season valuation options should be considered. Business income coverage, including business income from dependent properties coverage, may mean the difference between a retail operation staying in business or being forced into bankruptcy following a loss.

When the insured occupies a non-owned building, insurance coverage must be arranged for the insured’s interest in extensive improvements and betterments made to the premises.

Most retail businesses offer endless opportunities for a variety of criminal activities. For this reason, the coverages needed must be carefully evaluated. Holdup and robbery losses may be the most obvious concerns but employee theft, fraud and counterfeit money losses are also serious issues that cannot be dismissed.

Retail businesses are gaining greater exposure to international issues because of the growth in sales via the internet. As these sales increase, the added exposures faced by these retailers must be evaluated. While their operating horizons are expanding so are their potential loss exposures.


Request a free Equipment Rental Insurance Oregon quote in Albany, Ashland, Astoria, Aumsville, Baker, Bandon, Beaverton, Bend, Boardman, Brookings, Burns, Canby, Carlton, Central Point, Coos Bay, Coquille, Cornelius, Corvallis, Cottage Grove, Creswell, Dallas, Damascus, Dayton, Dundee, Eagle Point, Estacada, Eugene, Fairview, Florence, Forest Grove, Gervais, Gladstone, Gold Beach, Grants Pass, Gresham, Happy Valley, Harrisburg, Hermiston, Hillsboro, Hood River, Hubbard, Independence, Jacksonville, Jefferson, Junction, Keizer, King, Klamath Falls, La Grande, Lafayette, Lake Oswego, Lakeview town, Lebanon, Lincoln, Madras, McMinnville, Medford, Milton-Freewater, Milwaukie, Molalla, Monmouth, Mount Angel, Myrtle Creek, Myrtle Point, Newberg, Newport, North Bend, Nyssa, Oakridge, Ontario, Oregon, Pendleton, Philomath, Phoenix, Portland, Prineville, Redmond, Reedsport, Rogue River, Roseburg, Salem, Sandy, Scappoose, Seaside, Shady Cove, Sheridan, Sherwood, Silverton, Sisters, Springfield, St. Helens, Stanfield, Stayton, Sublimity, Sutherlin, Sweet Home, Talent, The Dalles, Tigard, Tillamook, Toledo, Troutdale, Tualatin, Umatilla, Union, Veneta, Vernonia, Waldport, Warrenton, West Linn, Willamina, Wilsonville, Winston, Wood Village, Woodburn and all other cities in OR - The Beaver State.


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