Small Business Insurance Coverage for Bend, OR Businesses


For many small businesses, a financial hit caused by a natural disaster, lawsuit, or accident could be devastating. Without the right insurance coverage, such an event could easily spell the end for any local business. The Insurance Connection provides small business insurance coverage to help local businesses in the Bend community be protected properly from any number of potentially devastating losses.


What Is Business Insurance?


The world of business insurance is vast and often complex, even more so than the personal insurance world. This is because the kind of businesses that make up our community are so widely varied in terms of need and risk profile. For instance, it is probably easy for anyone to understand that the needs and risks inherent with a dental office are much different than for a ski resort or ammunition manufacturer for example. Because of this, insurance requirements, needs, and options are often just as widely varied. Navigating this vast and complex landscape requires the help of an expert like the local agents at The Insurance Connection.


Why Do I Need Business Insurance?


All businesses face different sets of risks and requirements. Some are common, such as liability. Anyone can sue your business for any reason they want. Some services and products increase this risk, such as serving alcohol or manufacturing fireworks. Some businesses have unique coverage requirements set by State and Federal agencies or by the fellow businesses with which they contract. Other risks come from assets like the ownership of buildings, goods or even intellectual property. These sometimes overlapping needs created by risk, requirement and assets can often be hard to understand without the help of an expert.


What Types of Business Insurance Are Available?


While your policy may vary, some of the most common types of business insurance policies include the following:


  • General Liability – General liability insurance helps companies pay medical and legal expenses (up to policy limits) in the event that someone is injured at their place of business.

  • Professional Liability – Many business owners are professionals such as Attorneys, Real Estate Agents, Property Managers, Dentists, Chiropractors and more and need coverage in case they make a mistake in their line of work. Because anyone can make a mistake, almost all of these professions and many more require professional liability.

  • Product Liability – Lots of businesses make products that could potentially harm someone if they fail or are used improperly. As one can imagine, product liability is a hugely important part of many businesses' insurance plans. Imagine the risk associated with making baby toys, aircraft engine components, ammunition, weapons or even food or alcohol products. This is why product liability is an important part of many businesses insurance plans.

  • Property – There are many kinds of property that a business may own such as real estate, product inventory, livestock, crops or even intellectual property such as patents or plans. The business may not even own the property but is responsible for it, such as a storage facility or mechanic garage. This property needs protection and the ways in which to protect it and the risk exposure to it vary just as widely as the kinds of property. Let us help you spot and cover these needs.

  • Auto – Commercial auto insurance protects companies in the event of an accident or other covered event involving a company vehicle. It can also help them comply with State, Federal and local requirements, filings and certifications.

  • Bonds – Bonds are also commonly used and required within many business types, especially but not limited to construction. There are two primary types of bonds: surety and fidelity. Some bonds are used to pay bad debt on behalf of the bondholder and others may provide compensation to someone if a project is not completed on time in order to help reimburse for lost revenue due to the delay. These are only a couple of examples of many of the uses for bonds.

  • Risk Management – Risk management helps companies reduce their risk of losses by improving the safety of their operations and reducing workers’ risk exposure. Services may include workplace safety evaluations, employee safety training and more.

While this is not intended to be a comprehensive list of all insurance types, needs and requirements possible, we hope it serves as an example of just how varied and complex the commercial insurance market is and how much a seasoned professional can help in navigating it.


Why Should I Choose The Insurance Connection?


The Insurance Connection is an independent insurance agency, which means we take the hard work out of finding the coverage your business needs. We can shop around with over 100 small and large insurance carriers and wholesalers across the country to assemble a package that includes the coverage you need at some of the most competitive prices available. Our agents have extensive knowledge of business insurance laws in Oregon, Washington, and Nevada, and you can trust us to protect your company’s assets. Call The Insurance Connection of Deschutes at 541-389-1485 or request a free quote on small business insurance coverage!