What different types of damages is my business auto covered for in Oregon?
Comprehensive coverage in Oregon covers anything that is not specifically excluded from the policy, except a collision with another object or overturned vehicle. Also, if the insured carries coverage for glass breakage under Comprehensive they will be covered if they hit an animal, or if they experience damage due to a falling object or missile. One thing to consider- if the glass breaks due to a collision, it may be covered under Collision Coverage.
Business Auto Coverage in Oregon - Specified Losses that are covered:
Fire, lightning, explosion, theft, windstorm, hail, earthquake, flood, mischief, vandalism, sinking, burning, collision, or derailment of anything transporting a covered vehicle.
This coverage is not as all-inclusive as Comprehensive Coverage- it specifies the losses/damage it covers- if it is not specified, it's not covered.
This type of coverage will cover the auto/vehicle if it collides with another object or is overturned. Also, if the glass breaks due to a collision, the glass may be covered under this coverage as well.
This is a coverage extension that states that if the insured carries Comprehensive or Specified Cause of Loss Coverage, the insurance company will pay up to $20 per day with a max limit of $600 if loss is due to theft. There is a 48 hour wait period with this extension and the insurance company stops paying this extension if the vehicle is recovered/returned, or when they pay out for the loss.
This coverage may be added by increasing premium. The insurance company will pay up to the limit of insurance shown in the agreement for labor costs and towing every time a covered vehicle becomes disabled. So, this coverage is per occurrence. However, the one condition is that labor must be performed at the location where the vehicle becomes disabled, otherwise, it's not covered.
At Ferranti-Graybeal Insurance here in Oregon, we are dedicated to making sure our clients and future clients are educated! Understanding coverage types, what is covered, what isn't, is very important, and can also be very confusing! We make it our job to communicate and post information that is helpful to you.
If you would like to learn more about the Liability section of a Business Auto policy, please visit our blog on Oregon Liability Insurance for Business Autos.
If you would like to learn more about what types of autos are covered under a Business Auto policy, please visit our blog on What's Covered in Oregon (business auto).
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