Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business 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. (read more)
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. (read more)
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.
Martial Arts Insurance Oregon
Martial Arts Insurance Oregon. Physical injuries are always a possibility in any discipline or sport where there is aggressive contact between players and participants. Oftentimes, martial arts students are just kids, and they are even more prone to become injured than adults, sometimes with such devastating injuries that they have long-term effects for their rest of their lives.
Martial arts instructors and businesses have very concise needs for insurance, due to the inherent perils of the business. Protecting your martial arts business means buying insurance in sufficient amounts of martial arts insurance Oregon to put up a safeguard against potential claims and liabilities as well as general perils, such as fire and theft.
Martial arts insurance Oregon protects your business from lawsuits with rates as low as $97/mo. Get a fast quote and your certificate of insurance now.
The Most Injurious Disciplines
Due to the high number of injuries in martial arts training, it makes a lot of sense for any dojo to look into protection with proper martial arts insurance Oregon. Individual instructors who work in martial arts facilities but do not own them should also make sure they are protected, since they can be named individually in a suit if they are responsible for injury.
Of all martial arts disciplines, some stick out as the worst offenders when it comes to the number of injuries experienced by participants. A British study compared five different martial arts disciplines to determine which of them had the highest rates of participants requiring time off due to injuries. If you operate a martial arts studio that engages in any of these particular disciplines, you definitely need to consider martial arts insurance Oregon to protect your business from liability if the unexpected happens.
The study found that among the various disciplines, these were the most likely to result in injuries and time off due to ideuries: tae kwon do (injury rate of 59 percent), Aikido (injury rate of 51 percent), Kung Fu (injury rate of 38 percent), karate (injury rate of 30 percent), and Tai chi (injury rate of 14 percent). Just one injury can be enough for an uninsured studio to find itself shutting the doors and closing up shop due to litigation and financial awards paid to the injured.
As you can see from the study, even with martial arts that involve very little physical contact, such as Tai Chi, there is still a significant number of injuries. According to the study, students also tend to be at a higher rate of injury as their martial arts training progresses.
Martial Arts Insurance Types
If you own a martial arts studio in OR or have plans to expand by opening a new one, protecting your business' interests and your employees and equipment is an essential part of the process. Most studios should look for martial arts insurance Oregon:
General liability insurance. This sort of martial arts insurance Oregon provides coverage for claims that result from accidental injury on the premises. Liability lawsuits can be quite excessive, so you should choose the limits of your policy based on how many people you normally train and the number of staff you employ, among other factors
Worker's compensation insurance. This is a necessary insurance that you must provide if you have any employees working for you. Check with your licensed OR agent to make sure that you are compliant with the laws in your area and that you are fully protected against injuries or illnesses caused by work-related activities.
Umbrella insurance. This is an additional type of liability insurance that protects your studio against claims that exceed the limits of your normal policy. It is usually quite budget-friendly and provides an additional reduction in your risk exposure.
Property insurance. Cover the contents of your dojo and the building in which your business is lodged with property insurance. Check to see that you're covered in the events of severe weather, fire, and other perils. You may need a separate flood insurance policy, since most property insurance policies do not cover flooding.
Coverage for tournament action. If you take your students to another facility or host tournaments at your studio, then check out separate martial arts insurance Oregon coverage for the possible accidents and injuries that may result.
Common Ideuries That Occur Among Martial Arts Students
Students undergoing martial arts training can become severely injured, leaving your business liable. Concussions and injuries to the nose, ears, eyes, and head are common. Neck injuries, injuries to the skin, and broken extremities are also possible.
Oftentimes these types of injuries heal up without causing a lasting effect, but others cause lifelong problems and necessitate the martial art student taking therapy and rehab for long periods of time to regain their full functioning. Get martial arts insurance Oregon coverage to protect your business from financial claims and lawsuits is essential to ensuring your business' ongoing health and success.
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.
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 2019.
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 2019 include:
- Financial Services
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 Sports & Fitness Insurance
Learn about small business sports & fitness insurance policies and what they cover so that your customers, employees, and equipment are protected.
- Golf Course & Country Club
- Gym Fitness
- Hole-In-One Insurance
- Martial Arts
- Sports Team
- Yoga Teacher
Sorts and recreation includes a wide variety of operations, from individual theater owners to theater chains to corporations that operate properties with recreational facilities spread over many acres. It also includes publicly and privately owned athletic fields, stadiums, golf courses and other athletic facilities.
The risks in this classification are similar in that all involve the admission of large numbers of people combined with significant public access. These shared characteristics mean that all share the potential for catastrophic loss. For this reason, liability coverage with high limits of liability is critical.
Property, workers compensation, crime and inland marine coverages are also important but their necessity varies by type of risk.
This insurance can cover Amusement Parks, Archery Ranges, Athletic Fields, Ballparks, Ballrooms, Billiard Parlors, Bowling Alleys, Carnivals, Country Clubs, Drive-In Theaters, Golf Courses, Outfitters and Guides, Handball and Racquetball Courts, Ice Skating Rinks, Indoor Sports Complexes, Professional Sports, Racetracks-Horse or Dog, Racetracks-Motorized, Recreation Centers, Riding Stables, Roller Skating Rinks, Shooting Ranges, Skatepark, Skeet or Trap Shooting Ranges, Skiing Operations, Stadiums, Swimming Clubs, Tennis Centers, Theaters & Video Arcades.
Sports and fitness facilities have a way of bringing susceptible groups of individuals and situations together that can be potentially dangerous if not properly monitored. The joy and happiness of the moment can quickly change because of a calamity and those calamities can then lead to lawsuits.
Many of these risks have large money exposures every day they operate. Because of this, losses involving cash are the single biggest concern for most recreational facilities. This includes not only holdups and robberies but incidents involving counterfeit currency, computer fraud and forgery as well.
Employee theft is also a major concern in some operations because of attractive types of property or merchandise coupled with high rates of employee turnover.
Request a free Martial Arts 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.
Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.