The state of Oregon has over 1 million registered commercial vehicles in operation. These vehicles play a vital role in keeping businesses afloat because they facilitate the daily operations, as well as in the movement of goods and people. If you are a business owner in Oregon who owns and operates any of these vehicles, you should protect your business asset with commercial auto insurance.
This type of insurance gives you peace of mind in the event of collisions and other forms of road accidents.
Like with most other states in the US, Oregon commercial auto insurance costs are determined by the following factors: driver record, type of vehicle, weight of vehicle, type of cargo, use of vehicle, expected mileage, and travel route.
According to the National Safety Council, there is an increase in car crash statistics in the state of Oregon from the period of 2018 to 2019. There were more than 400 fatalities, which saw a 4% increase from the data the previous year. This is a pressing issue for commercial vehicle operators and business owners. You need insurance coverage in order to protect your business from the financial liabilities associated with these accidents.
The following is a guideline of the minimum liability coverage limits set in the state of Oregon:
The best way to determine how much coverage you need for commercial auto insurance in Oregon is to know your vehicle type. Not all commercial auto insurance policies are the same and it is not good practice to purchase the minimum coverage. For example, the cost of insuring commercial trucks, trailer trucks, dump trucks and full-size trucks are higher compared to other commercial vehicles such as passenger vans, taxis, and passenger cars.
It pays to know the nature of your business, the value of your business goods or equipment, and the risks associated with the vehicle route.
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815 Lancaster Dr SE, Salem, OR 97317
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