Get Oregon workers compensation insurance quotes, cost & coverage fast. Workers comp is required for employers in OR and protects your business by paying for employee medical, disability, rehabilitation & survivor benefits.
OR Workers Comp
Owning a business can be quite rewarding, but there are certain risks that you need to be aware of. One of the biggest risks that OR business owners - especially those that are just getting started out - overlook is a employee getting injured on the job.
Accidents happen. An employee can slip and fall; a piece of machinery could malfunction; an illness could occur as a result of a worker being exposed to something dangerous on your worksite (unbeknownst to you). In the event that someone you employ becomes injured or ill while on the job, you are held legally responsible. For that reason, you need to make sure that you have Oregon workers compensation insurance.
Does My Business Need Oregon Workers Compensation?
If you have an existing business, or are starting a new business, don't overlook the importance of getting Oregon workers compensation insurance. Here's a look at 5 reasons why you should have it:
It's The Law. In most states, businesses are required by law to have workers compensation insurance. The laws do vary from state to state, so make sure that you do familiarize yourself with the laws that apply in your state. Typically, business owners can purchase a policy through an insurance agent; however, some states do require businesses to get coverage via a state-operated funds. See OR workers comp class codes for more information.
It Protects Your Business. Oregon workers compensation insurance coverage not only protects your employees, but it also protects your business. Though cases do vary, often times, when a business offers workers' comp coverage to its employees, workers agree to forfeit their rights to sue a business for negligence in the event of an accident or an illness. This will reduce costly the financial hardships that are associated with lawsuits, as well the damages that legal action could have on your business in the future. For example, businesses that have had lawsuits filed against them for wrong-doing in the case of an accident often have their reputation marred, which could have a negative impact on the success of the business.
It's Beneficial For Employees. Should an employee be involved in an accident and sustain an injury, or falls ill as a result of being exposed to a toxic chemical or fume while on the job, and is unable to work, workers comp will cover their expenses. These expenses include lost wages, medical costs, and more. In essence, CCA workers comp serves as a financial safety net for your employees.
Assists With Recovery. Not only does Oregon workers' compensation insurance assist with lost wages and medical expenses, but it also covers some of the cost that is associated with any training or rehabilitation that employees may need so that they can return back to work. Moreover, should an employee be unable to return to work, the insurance will provide him or her with training that will better suit his or her new needs.
Helps Employees' Loved Ones. Workers' compensation insurance can also protect the loved ones of your employees. For example, it protects from the hardships that lost wages could impose on a family. In the extremely unfortunate event that a worker perishes as a result of his or her injuries or illness, workers comp insurance will likely cover at least some, if not all, of the funeral expenses. Some packages also offer surviving family members benefits.
For these reasons, Oregon workers' compensation coverage is a sound business investment. It protects your employees, their loves ones, your business - and you - from the financial hardships and the legal repercussions that could come about in the unfortunate event that one of your workers is injured or becomes ill while on the job. It is a requirement in most states, and because of the several benefits that this insurance offers, it's easy to see why.
What Does Oregon Workers Compensation Insurance Cover?
Workers compensation insurance cover only work-related injury or illness including: lost wages, medical expenses, and other benefits to employees who may become injured or sick while they are working. It's a sound business investment, as it protects your most important asset: your employees.
A workers compensation policy usually has two parts:
- Workers Compensation Insurance: The first part of the policy fulfills statutory obligations under the Oregon workers' compensation laws. Under this section, the insurer agrees to pay all workers compensation benefits and other benefits that the employer must legally provide to covered employees who have a job-related injury or an occupational disease.
- Employers Liability Insurance: The second part of the policy covers employers against lawsuits by employees who are injured in the course of employment, but whose injuries (or diseases) are not compensable under the state's workers compensation law. This part is similar to other liability insurance policies where negligence must be established before the insurer is legally obligated to pay.
What Oregon Workers Compensation Insurance Doesn't Cover
Workers compensation typically does not cover:
- Self-inflicted injuries
- Felony-related injuries
- Injuries an employee suffers off the job
- Injuries claimed after an employee is terminated or laid off
- Injuries from a fight started by the employee
- Injuries caused by intoxication or drugs
- Injuries resulting from horseplay or violation of company policy
- Injuries to an independent contractor
How Much Does Oregon Workers Compensation Insurance Cost?
The cost of OR workers comp insurance varies tremendously, depending on your industry and location. If you are in an industry where work-related injuries are more likely to occur or in an area where insurance premiums are higher, then it will cost more.
For example, for a roofer, tree trimmer, or demolition company, the cost could be $17 per $100 in payroll, or even higher. On the other hand, the cost to cover a attorney, accountant or real estate agent could be under $0.20 per $100 of their payroll. So, for an employee that earns $40,000 a year, a blue collar contracting company could pay around $6800, where a white collar business may pay just $80.
Also your workers comp rates can go up or down depending on your accident history, much like they would for most types of insurance.
Get A Oregon Workers Compensation Insurance Quote
If you own or are starting a OR business, let one of our expert agents take a look at your current business policy. We offer a wide variety of options to ensure that your employees and you are properly protected from the hazards that could happen on the job. In most cases we can save you money and offer you better policy options than you currently may have. Oregon workers compensation requirements, Oregon workers compensation appeals board, Oregon workers compensation rates, Oregon workers compensation forms, Oregon workers compensation insurance, workers comp questions Oregon, Oregon workers compensation search, Oregon workers compensation pamphlet.
Further Reading On Worker's Comp Insurance
- Workers Compensation Insurance
- How To Reduce Workers Compensation Premiums
- How To Understand Your Workers Compensation Experience Modification Factor
- How Much Does Workers Comp Cost In California?
- How Much Does Workers Comp Cost In Texas?
- Texas Workers Compensation Laws For Employers
- Uninsured Subcontractors Workers Compensation
- Workers Comp Insurance Audit
- Workers Compensation Classification Codes
- Workers Compensation Code 8810
- Workers Compensation For Restaurants
OR Workers Compensation Insurance Quotes
Request a Oregon Workers Compensation Insurance quote in Albany, Ashland, Baker City, Beaverton, Bend, Canby, Central Point, Coos Bay, Cornelius, Corvallis, Cottage Grove, Dallas, Damascus, Eugene, Forest Grove, Gladstone, Grants Pass, Gresham, Happy Valley, Hermiston, Hillsboro, Keizer, Klamath Falls, La Grande, Lake Oswego, Lebanon, McMinnville, Medford, Milwaukie, Monmouth, Newberg, Newport, North Bend, Ontario, Oregon City, Pendleton, Portland, Redmond, Roseburg, Salem, Sandy, Sherwood, Springfield, St. Helens, The Dalles, Tigard, Troutdale, Tualatin, West Linn, Wilsonville, Woodburn and all other cities in OR.
Insurance Regulations In Orgeon
Let's take a look at insurance in Oregon. There are definitely some state regulations that govern insurance in the state of Oregon. You should become familiar with what these regulations are, even if they do not necessarily apply to you.
You will be much better informed about insurance if you know what types of insurance businesses are required by law and what types they normally get regardless of law. You also may want to know the regulations governing personal insurance such as automobile insurance and life insurance. Let's take a closer look at OR insurance regulations.
Oregon Business Insurance
The first type of insurance that we will start with is business insurance. Specifically, we will be discussing general liability insurance. Commercial liability, sometimes called general liability, is a type of insurance that protects your business in case someone slips and falls on your floor or experiences roofing materials falling on their car that does damage. There are many other situations in which general liability insurance may kick in.
There are also some types of insurance that are mandated by law including Worker's Compensation insurance for any company that has one or more people working for them full-time or part-time.
Oregon does not have any laws stipulating that companies must carry disability insurance like in many states, but if there are vehicles being used for commercial purposes, then they must carry commercial auto insurance.
OR Personal Insurance
There are definitely some regulations that govern the auto insurance that normal motorists are required to carry on their vehicle. These are pretty standard across the states and match what is required in most. In Oregon, you are required to carry $25,000 per person for bodily injury and $50,000 per accident for the same. Property damage is a little higher than you will find in other states at $20,000 per accident and there is also an additional requirement that requires a personal injury protection amount of $15,000 per person.
Finally, there are regulations governing life insurance in Oregon as well. Unlike most states, there is no free look period for life insurance. However, there is the normal grace period Of 30 days when it comes to late payments. Lastly, insurance companies are required to make payment within 30 days of receiving notification of the death described in the policy. If they do not make payment within 30 days then the person that is the beneficiary of the policy may receive interest as well.
If you are looking for state specific Workers Compensation Insurance quotes, costs and information: California Workers Compensation Insurance, Colorado Workers Compensation Insurance, Delaware Workers Compensation Insurance, Florida Workers Compensation Insurance, Illinois Workers Compensation Insurance,Kentucky Workers Compensation Insurance, New Jersey Workers Compensation Insurance, New York Workers Compensation Insurance, Oregon Workers Compensation Insurance, Pennsylvania Workers Compensation Insurance, Texas Workers Compensation Insurance.