Although Oregon used to be one of the nation's prime timber producers, forest fires, over-harvesting and environmental concerns have dramatically reduced its lumber and wood products output since the late 1980s. But the high tech industry is flourishing in the state, with companies like Tetronix and Intel spawning other technology-related firms. Like the state economy, Oregon businesses change and evolve over time. When they do, it's a good idea for those businesses to take a careful look at their existing business insurance policies and compare Oregon business insurance rates to make sure that they have the right coverages.

Reducing Oregon Business Insurance Rates
There are standard policies that every business owner wants, and you often can find the coverages that you need in a business owners policy (BOP). This generally includes business property insurance (covering the building, equipment and inventory) and business liability insurance (protecting against losses when someone is injured on the business' premises and/or by its products and services).

It usually costs less to purchase a business owners policy than it would to purchase the coverages separately. But there are some other types of insurance not included in a BOP that you would usually want as well.

State law mandates that businesses carry workers compensation insurance, which provides funds to cover employees' hospital bills and lost wages when they're injured on the job.

If you use a vehicle for deliveries, for sales calls or for any other purpose in your business, you'll need a business automobile insurance policy. There are several types available: collision and liability coverages for cars that are owned by and used in a business and liability coverages for employee-owned and/or leased vehicles that are used by a business.

As you compare Oregon business insurance rates on these policies, keep in mind that there are many other types of Oregon business insurance coverages available. They include key person coverages, loss of income, professional liability and employee theft, to name a few. An experienced business insurance agent can help you determine what's appropriate for your particular business situation.

To reduce your business insurance costs immediately, consider increasing your policy deductibles. Over the longer term, you can reduce your insurance costs by improving loss control and employee safety programs, which should reduce your claims and ultimately your business insurance rates. You may also be able to get a discount on your business insurance policies if you carry your personal insurance with the same insurance company.

Save Money on Oregon Business Insurance Rates
Taking on a new market or trying a new approach can help a business succeed where others fail. If you've previously looked for Oregon business insurance by calling agents all over town for rates, you may want to try a new approach to comparison shopping that many other businesses are now using successfully: LocalInsurance.com. Simply visit the LocalInsurance.com web site, fill out a single form about your business, and receive in return quotes from several of the leading insurance companies in your area. Localinsurance.com is changing the business insurance search, making it faster, easier and more efficient. That's a change for the good.