Commercial Auto Insurance in Lake Oswego and Portland, OR
If your Oregon business relies on vehicles for its daily operations, you should understand your commercial auto insurance options. Contact Action Insurance Company in Lake Oswego, Oregon, to get commercial auto insurance coverage tailored to your company’s needs.
What Is Commercial Auto Insurance?
Commercial auto insurance is designed for companies that use vehicles for their business operations. It can help provide financial protection against various risks associated with commercial vehicle use, including accidents, property damage, theft and liability claims.
Your agent can help you get appropriate insurance coverage for a range of vehicles, including company-owned vehicles; employee-operated vehicles; and vehicles leased, rented or borrowed for business purposes.
What Does Commercial Vehicle Insurance Cover?
Commercial vehicle insurance offers a comprehensive range of coverage options to meet the unique needs of businesses in Oregon. Here are the coverages required in Oregon:
- Liability coverage—This policy may help cover third-party accident-related property damage and bodily injury claims after an at-fault accident involving your company vehicle. The policy only pays up to the dollar limits, so you should discuss your options with your agent.
- Personal injury protection (PIP)—This coverage may help pay for accident-related losses if your company driver or passengers are injured in a covered accident.
- Uninsured/underinsured motorist coverage—This policy may help cover your company driver and passengers’ accident-related medical bills and other bodily injury damages up to the policy’s limits if the at-fault driver lacks sufficient insurance or your company vehicle is involved in a hit-and-run accident.
If you finance a company vehicle, the lienholder typically requires the following insurance:
- Collision coverage—This policy may help pay for repairs or replacement of your vehicle in case of a collision with another car or object.
- Comprehensive coverage—This policy may help pay for repairs or replacement of your vehicle if it’s damaged in a noncollision incident such as theft, vandalism, fire, natural disaster or falling object.
- Guaranteed asset protection (GAP) insurance—This policy may help pay off your company’s financed vehicles if a covered accident renders it a total loss.
- Hired and non-owned auto (HNOA) coverage is essential if you lease, borrow or rent vehicles to conduct company business. This policy may help provide liability protection for accidents or incidents involving those vehicles.
How to Get Commercial Auto Insurance
If your business needs commercial auto insurance, we’re here to help. Contact Action Insurance Company today for a quote or to discuss your commercial auto insurance needs.