Commercial Auto Insurance Minimum Requirements in Oregon
Ways to Establish Financial Responsibility
To prove financial responsibility in the state, you may either:
- Apply for a certificate of self-insurance from the Department of Transportation (DOT).
- Buy liability insurance.
Determine Whether You Need Commercial Insurance
According to the Oregon Insurance Division, any vehicle that is used to further a business must be commercially insured. Before you begin shopping, consider:
- How many and what kind of vehicle(s) you need to insure.
- How the vehicle(s) is being used.
- Who drives the vehicle(s).
- Who owns the vehicle(s).
For more assistance determining whether you need commercial insurance, contact an insurance carrier that specializes in commercial coverage.
Determine the Required Amount of Coverage
When you begin to contact insurance companies for quotes, the agent will ask you questions to determine whether you need a commercial policy, and whether the minimum amount of coverage will be adequate.
You will need to know:
- Who owns the vehicle(s)
- Weight of the vehicle(s)
- Usage of the vehicle(s)
- Liability limits requirements
Purchase a Commercial Policy
Before you settle on one insurance provider, try to consult with at least three to make sure you’re getting the best possible rates. Most private insurers also deal in commercial insurance. If the insurer also covers other non-auto items for you, ask for a discount.
However, there are also companies that deal exclusively with commercial insurance, and you may prefer a specialist handling your needs.Choose a State:
Compare Commercial Insurance Rates in 3 Steps
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