From Oregon Workers’ Compensation Insurance to General Liability, Commercial Auto Insurance & More. We Are Your Easy & Stress Free Construction Insurance Provider in Oregon State!
As a contractor in Oregon, it is important to protect your business with the right insurance coverage. Not only is it required by law, but it also helps safeguard against potential financial losses and legal liabilities. In this article, we will explore the different types of insurance that contractors in Oregon should consider, as well as the state regulations and requirements for contractor insurance.
Oregon premiums generally track close to the national average for general contractors. These estimates are for general liability insurance only and assume a general contractor carrying commonly requested $1M per occurrence / $2M aggregate limits. Actual premiums vary based on payroll, annual revenue, subcontractor cost, type of work, claims history, location, policy limits, endorsements, and carrier underwriting appetite.
| Annual Revenue | Estimated Annual Premium Range | Estimated Monthly Cost |
|---|---|---|
| $50,000 | $700 – $1,400 | $58 – $117/mo |
| $100,000 | $900 – $2,150 | $75 – $179/mo |
| $150,000 | $1,300 – $2,975 | $108 – $248/mo |
| $250,000 | $2,050 – $4,700 | $171 – $392/mo |
| $500,000 | $3,700 – $7,950 | $308 – $662/mo |
| $750,000 | $5,500 – $11,050 | $458 – $921/mo |
| $1,000,000 | $7,000 – $14,200 | $583 – $1,183/mo |
Disclaimer: These pricing examples are estimates for informational purposes only. General liability insurance is commonly required by project owners, commercial clients, landlords, lenders, and general contractors before work begins.
General liability insurance is a type of insurance that provides protection for businesses against claims of bodily injury, property damage, and personal injury that may arise from their operations. For contractors in Oregon, general liability insurance is an essential coverage to have in place. It helps protect them from financial losses that may result from accidents or injuries that occur on the job.
Some common types of claims that contractors may face include:
To be adequately protected, contractors should consider purchasing a general liability insurance policy with at least $1 million in coverage. This will provide them with the financial resources they need to cover legal fees, medical expenses, and other costs associated with a claim.
In Oregon, contractors are required to carry workers’ compensation insurance if they have one or more employees. This type of insurance provides coverage for medical expenses and lost wages for employees who are injured on the job. It also provides death benefits for employees who are killed in a work-related accident.
Workers’ compensation insurance is a no-fault system, which means that employees do not need to prove that their employer was at fault in order to receive benefits. As long as the injury or illness occurred while the employee was on the job, they are entitled to receive benefits.
If a contractor in Oregon uses a vehicle for business purposes, they are required to have commercial auto insurance. This type of insurance provides coverage for damages and injuries that may occur as a result of a car accident while the vehicle is being used for business.
Commercial auto insurance policies typically offer higher coverage limits than personal auto insurance policies, as they are designed to protect businesses against the financial losses that may result from a car accident. Contractors should consider purchasing a policy with at least $1 million in coverage to ensure that they are adequately protected.
In addition to the mandatory coverage described above, contractors in Oregon may also want to consider purchasing additional insurance to protect against other risks that may be specific to their business. For example, contractors who work on construction projects may want to purchase builders risk insurance to cover any damages that may occur to the project while it is under construction. Similarly, contractors who work with high-risk equipment or materials may want to purchase a specialized insurance policy to protect against losses related to these risks.
Builders risk insurance, also known as course of construction insurance, is a type of insurance that provides protection for buildings and other structures that are under construction. It covers damages that may occur to the property during the construction process, such as fire, wind, and theft.
In Oregon, contractors who are working on a construction project may want to consider purchasing builders risk insurance to protect against financial losses that may result from damages to the project. This type of insurance can be especially important for contractors who are working on large or complex projects, as the cost of repairing damages can be significant.
Builders risk insurance policies typically provide coverage for the value of the materials and labor used in the construction project. Contractors should carefully review their policy to ensure that it provides the appropriate level of coverage for their needs.
Inland marine insurance is a type of insurance that provides protection for businesses that transport or store goods or equipment. It covers damages that may occur during transport, such as accidents or theft, as well as damages that may occur while the goods or equipment are in storage.
In Oregon, contractors who transport or store equipment or materials may want to consider purchasing inland marine insurance to protect against financial losses that may result from damages to these items. This type of insurance can be especially important for contractors who work with high-value equipment or materials, as the cost of repairing or replacing these items can be significant.
Inland marine insurance policies typically provide coverage for the value of the goods or equipment being transported or stored. Contractors should carefully review their policy to ensure that it provides the appropriate level of coverage for their needs.
Inland marine insurance is a type of insurance that provides protection for businesses that transport or store goods or equipment. It covers damages that may occur during transport, such as accidents or theft, as well as damages that may occur while the goods or equipment are in storage.
In Oregon, contractors who transport or store equipment or materials may want to consider purchasing inland marine insurance to protect against financial losses that may result from damages to these items. This type of insurance can be especially important for contractors who work with high-value equipment or materials, as the cost of repairing or replacing these items can be significant.
Inland marine insurance policies typically provide coverage for the value of the goods or equipment being transported or stored. Contractors should carefully review their policy to ensure that it provides the appropriate level of coverage for their needs.
An ACORD certificate is a document that provides proof of insurance for a business. It includes information about the type and amount of coverage that a business has, as well as the policy’s effective dates and the names of the insured parties.
In Oregon, contractors may be required to provide an ACORD certificate as proof of insurance when bidding on a job or entering into a contract. It is important for contractors to keep their ACORD certificate up to date, as it provides evidence of the coverage they have in place.
Contractors can obtain an ACORD certificate by contacting their insurance provider and requesting a copy. They should keep a copy of their ACORD certificate on hand at all times, as they may need to present it to clients or other business partners at any time.
It is important to choose an insurance provider that understands the unique needs of contractors in Oregon. Look for a provider that offers a range of insurance options, including general liability, workers’ compensation, and commercial auto insurance.
It is also a good idea to work with us who can help you find the right coverage for your business. Our brokers can provide you with multiple quotes from different insurance providers and help you compare the coverage and cost of each policy.
If you want to get the best coverage now, from the best carriers and at the lowest price, call us at (888) 973-0016 or click for a free quote. We can assist you and answer all your questions 24/7!
Get answers to your most common questions from Contractors Liability
Most Oregon contractors need a $1,000,000/$2,000,000 policy. The Oregon Construction Contractors Board (CCB) and commercial contracts universally require these limits to activate your license or win bids.
Work vehicles require a $1,000,000 combined single limit (CSL). This protects your business from catastrophic asset loss during at-fault accidents and satisfies commercial client contracts across Oregon.
Oregon law mandates workers’ comp if you hire even one employee. Policies carry standard $500,000 limits to cover workplace injury claims and stay fully compliant with the DCBS monitoring rules.
No. Standard liability policies exclude sub claims unless you enforce risk transfer. Always collect a Certificate of Insurance (COI) making you an Additional Insured with primary, non-contributory terms.
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