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.
Oregon Speech Therapy Insurance
Oregon Speech Therapy Insurance. "Communication is key", as the saying goes. But for people with speech impairments, communicating can be a real challenge. That's where you come in. Your expertise as a speech therapist, in helping individuals overcome those challenges by improving their speech, is highly regarded.
But when your work involves close contact with members of the public, there are always certain risks involved. Just one claim against you can mean thousands of dollars out-of-pocket, threaten your career and take significant time away from work to defend.
Luckily, Oregon speech therapy insurance can save the day if you're named in a lawsuit accusing you of wrongdoing. In fact, with adequate insurance in place, you can rest assured knowing that even the steepest legal bills can be covered by your insurance carrier so you can continue focusing on doing your work.
Oregon speech therapy insurance protects your practice from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Why Do Speech Therapists Need Business Insurance?
As a speech therapist, you've dedicated your career to helping others, and you should be free to focus on your clients without worrying about a threat to your livelihood. With Oregon speech therapy insurance, you can have peace of mind knowing you're protected in the event of a claim or suit, a grievance from a regulatory board, plus many other coverage benefits.
What Coverages Do Speech Therapists Need?
The Oregon speech therapy insurance coverage you need depends on the details of your business and the risks you want to cover, but these are some of the insurance covers you may find useful:
Professional Liability - Also know as errors and omissions (E&O), this insurance covers negligence claims and allegations made against you by clients and third parties, because of negligence and mistakes you've made and things you've failed to do. Specifically (but depending on the policy language) it covers:
- Intellectual property infringement
- Loss of documents or data
- Negligent misrepresentation or misstatement
- Employee dishonesty
- Breach of confidentiality
- Failure of third-party equipment
Professional liability insurance is integral because no amount of training and experience can prepare you for the unexpected. Unavoidable mistakes occur or a client may simply be displeased with your work and seek to recover damages. These errors can threaten your career, as well as and result in time away from the office and costly settlements.
Commercial General Liability - This Oregon speech therapy insurance protects your firm if you cause injury or property damage to a third party. If a client falls and suffers an injury at your OR office, your CGL insurance covers direct costs related to the claim (e.g., medical bills) as well as lawsuit-related costs if you are sued. CGL insurance also pays for claims related to advertising liability, slander, libel and copyright infringement.
Workers Compensation - Required by law in most states for an non-owner employees, workers comp insurance pays for medical care and replaces a portion of lost wages for an employee who is injured in the course of employment, regardless of who was at fault for the injury. When a worker dies as a result of injuries sustained while working, the insurance provides compensation to the employee's family.
Business Property - OR business property coverage protects your property in and around your place of business. Many people refer to business property as contents coverage, for it responds when the furniture, computer equipment, inventory and equipment within your office, warehouse or location listed on your policy suffers a covered loss. It is important to maintain enough coverage to replace everything in your location, should you experience a total loss.
Umbrella Insurance - This type of Oregon speech therapy insurance policy doesn't cover everything as many people tend to think. Rather, it is an extension of other insurance policies you have already purchased. It is excess liability above the underlying liability policies and thus extends their coverage. It's mainly used for third party claims to ensure a lawsuit does not put you out of business.
OR Speech Therapy Insurance
The financial and emotional cost of work-related lawsuits is high. Having insurance for speech therapists provides you with a defense team that works on your behalf to safeguard your livelihood. Being able to turn the burden of your lawsuit over to a team of experts, means that you can continue to care for your patients, and maintain your practice and your personal life with minimum disruption.
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 Medical Insurance
Discover small business insurance for medical and dental professionals. Medical malpractice insurance is a type of professional liability that protects health care professionals from liability causing in bodily injury, medical expenses and property damage.
- Ambulatory Surgical Center
- Art Therapy
- Assisted Living Facilities
- Dental Lab
- Diagnostic Imaging Centers
- Healthcare Facilities
- Home Medical Equipment Dealers
- Marriage & Family Therapy
- Medical Laboratories
- Medical Marijuana Dispensary
- Medical Practice
- Mental Health Counseling
- Occupational Therapy
- Physicians Office
- Skilled Nursing Facilities
- Speech Therapy
- Substance Abuse Counseling
Health care providers are the most trusted individuals in our society. Ironically, they are the same ones who can do the greatest harm. They actually have the right to invade our bodies with knives and to poison us with chemicals - all in the name of health care and with the goal of relieving our symptoms and hopefully bringing about a cure.
While the actions of these professionals normally benefit us, insurance coverage must be available for the times when mistakes happen and things go wrong. These professionals and their facilities have extensive property exposures that are becoming more and more intricate and whose values are increasing exponentially.
The 'one size fits all' approach that once could have applied to insurance for health care providers and their facilities no longer applies.
Professional liability offers protection against claims of malpractice for all sums that the medical professional becomes legally obligated to pay as damages because of rendering or failing to render professional services.
Professional and medical malpractice exposures are the most expensive and difficult of all exposures for health care providers. The commercial general liability policy excludes these exposures so separate coverage is needed. Most professional liability policies are written on a claims-made basis and, as a result, tail coverage and retroactive dates are important coverage issues to be aware of when evaluating the insured’s coverage needs and comparing coverages.
The coverage provided is often called medical malpractice. For decades, many involved in the health care field and insurance companies that provide insurance coverage to providers have stated that malpractice lawsuits have created an ongoing crisis of restricting insurance availability, due to loss of insurance companies that write the coverage and significant rate increases.
As a result, state legislatures have taken the following actions to address the situation:
Imposed a dollar limitation of liability for malpractice suits.
Modified statutes of limitation to limit the number of years that a suit may be brought against a physician following a negligent act.
Modified when the statute of limitations takes effect. An example is beginning from a negligent act's occurrence rather than from its discovery.
Passed laws to modify tort law procedures and doctrines that relate to malpractice.
Because of differences in law by state it is important to know the states in which the covered health care providers are licensed and regularly practice. Some health care providers may practice in multiple states because of their particular specialty, their reputation or the demand for their services. Some hospitals may have ownership in facilities or provide services to patients that are outside of their main location state.
Request a free Oregon Speech Therapy insurance 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.