Restaurant Insurance Coverages

1. General Liability Insurance: This coverage protects the restaurant against claims of bodily injury or property damage that occur on the premises.
2. Property Insurance: This coverage protects the restaurant's building and contents, such as furniture, equipment, and inventory, against damage or loss caused by events like fire, theft, or natural disasters.
3. Business Interruption Insurance: This coverage provides financial protection if the restaurant is forced to close temporarily due to a covered event, such as a fire or natural disaster.
4. Food Contamination Insurance: This coverage protects the restaurant against losses due to food contamination, such as from bacteria or chemical contamination.
5. Workers' Compensation Insurance: This coverage provides benefits to employees who are injured or become ill as a result of their job duties.
6. Umbrella Insurance: This coverage provides extra liability protection for the restaurant beyond the limits of the general liability policy.
7. Cyber Liability Insurance: This coverage protects against losses from a data breach, such as loss of sensitive information like credit card numbers and personal information.
8. Auto Insurance: This coverage protects the restaurant against losses from accidents involving company-owned vehicles.

Natural Disasters in Oregon with Property Damage

Natural disasters, such as earthquakes, wildfires, and storms, can cause significant property damage in Oregon. In recent years, the state has experienced a number of devastating natural disasters that have resulted in billions of dollars in damages.

One of the most destructive natural disasters to hit Oregon in recent years was the 2020 wildfire season. This year saw the largest wildfire in the state's history, the Beachie Creek Fire, which burned over 190,000 acres and destroyed over 1,000 homes. The wildfire season as a whole resulted in over 1.4 million acres burned, making it the worst wildfire season on record for the state.

In addition to the wildfire season, Oregon is also prone to earthquakes. The state sits on the Cascadia Subduction Zone, which is a major fault line that runs from northern California to British Columbia. The Cascadia Subduction Zone has the potential to produce earthquakes of magnitude 9.0 or higher, which could result in widespread damage and destruction.

Storms, including hurricanes and severe thunderstorms, can also cause significant property damage in Oregon. In 2007, a winter storm known as the "Great Coastal Gale" caused over $100 million in damages along the Oregon coast. In 2017, the state was hit by a series of severe thunderstorms that resulted in over $100 million in damages.

It is important for Oregon residents and businesses to be prepared for the potential of natural disasters and to have a plan in place in case of an emergency. Having insurance coverage, such as property insurance or business interruption insurance, can help to mitigate the financial impact of natural disasters and assist in the recovery process.

Overall, natural disasters have the potential to cause significant property damage in Oregon. It is important to be prepared and have a plan in place to protect your home or business from the potential risks of natural disasters.

OREGON TRAFFIC ACCIDENT AND INSURANCE REPORT

Did you get into an auto accident in Oregon? If so, you may need to fill out this form for the DMV.

735-32 (oregon.gov)

The form states:

"ONLY drivers involved in an accident resulting in any of the following MUST file an Accident & Insurance Report:

• Damage to your vehicle is over $2500 

• Damage to any one person’s property over $2500 

• Injury (No matter how minor) 

• Any vehicle has damage over $2500 and any vehicle is 

• Death towed from the scene as a result of damages"

You must report the accident within 72 hours or as soon as possible. Click on the link for more details.

Rental Car Reimbursement

Without a doubt, customers with Rental Car Reimbursement are much happier with their insurance when they are in an accident. This covers the cost of a rental car while your vehicle is in the body shop due to a covered loss. Some people pass up on this coverage, if they have a spare vehicle that they can use if they need to. But remember, you may have to drive that vehicle for an extended period of time. Let's say your backup vehicle is a 1985 Ford Truck. Do you want to be commuting to work in that for three weeks? 

Some carriers offer alternatives to Rental Car Reimbursement coverages. For instance, you could get reimbursed a fixed dollar amount for each day the vehicle is at the garage after a covered loss. You could use that money to pay down your deductible or hire a taxi to get you around town. Ask your agent what coverages are appropriate for your unique situation. 

Towing and Road Service

Yes, put this endorsement on your auto insurance policy. If your car breaks down on the side of the road, having a tow truck driver come to your rescue is priceless. These guys are unsung heroes. They work in the worst weather conditions, at all hours of the day, and solve your problems with the greatest of ease. 

Check your insurance policy or ask your agent for coverage specifics. Some carriers have smart phone apps that make it easy to call for a tow. Download the app and look for that function.

You might say, "I have a new car. It won't breakdown." Well, what about flat tires, dead batteries, running out of gas? What if your car gets old and you forget to put the coverage on. It's a no brainer, get the coverage. 

High Deductibles- Advantages

Higher deductibles on auto insurance can be a great long-term strategy for lower premiums. If you're carrying deductibles over $1000 for collision, there is less benefit to file claims for dings and scratches to your car. This may lead to fewer claims, but you will have to pay out of pocket to fix your ride or drive around with the damages. Some people don't mind a few dents on an older vehicle. It goes without saying, don't drive it if it's unsafe.