Small Business Insurance

Fun facts about Minnesota small business insurance

There are approximately 464,946 small businesses in Minnesota. About 131,674 MN businesses have employees; the rest, or 333,272, do not. The United States’ first Better Business Bureau was established in Minneapolis in 1912. In the late 1800s and early 1900s, Minnesota was the “flour mill capital of the world.” Minnesota business insurance from Insuring Minnesota, 952-222-8073.

Commercial liability insurance in the land of 10,000 lakes

Commercial liability insurance in Minnesota is also known as commercial general liability or business liability insurance. They protect Minnesota business owners from expenses and financial losses related to business operations. Covering bodily injury, property damage claims, personal injury, advertising injury, and lawsuits.

Is business insurance required in Minnesota?

Generally not. It depends on the type of business. Some Minnesota businesses might be licensed, in which case, proof of insurance would be mandatory. Many other companies would not be required to carry insurance.

If you own a business, it would be a wise investment to purchase a business liability insurance policy. You worked hard to build your empire, and it’s essential to protect it.

How much does business insurance cost in Minnesota?

It depends on the type of business. Some Minnesota businesses might be licensed, in which case, proof of insurance would be mandatory. Many other companies would not be required to carry insurance.

If you own a business, it would be a wise investment to purchase a business liability insurance policy. You worked hard to create your empire, and it’s essential to protect it.

952-222-8073

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We cover these types of businesses and more

Accounting & Tax Service
Apartment / Habitational
Bakery Insurance
Barber / Beauty Salon
Bar / Tavern
Car Wash
Coffee Shop
Townhome Association Insurance
Contractor Insurance
Dump Truck Insurance
Electrical Contractor / Electrician
Furniture Stores
Garbage Truck / Rubbish Hauling
Gas Stations
Grocery Store Insurance
Home Health Care Agencies
HVAC Contractors

Hotel / Motel
Janitorial / Cleaning Service
Liquor Store
Machine Shop
Manufacturing
Optometrists
Pizza Restaurant
Plumber / Plumbing
Restaurants
Retail Store
Sober Housing
Tap Room
Tree Trimmer / Tree Trimming
Tow Trucks / Wrecker Insurance
Used Car Dealers
Wholesale / Distributor
Woodworking / Cabinet Making
And Many Other Types of Businesses

Minnesota Business Insurance

Bonds in Minnesota – A bond is like a bank loan, and the fee is similar to interest. Bonds need to be repaid. Common bonds are Bid, Performance, payment, and license bonds, to name a few.

Business Owners Policy in Minnesota – Think of a BOP like this. You can buy insurance in two ways. In a cafeteria line, picking the coverage you need. Or a value meal, with many of the things businesses need. A BOP includes business income.

Commercial Auto insurance in Minnesota – Business autos need protection, too.

Contractors Insurance in Minnesota – Contractors need liability insurance, as well as coverage for their tools and equipment.

General Liability Insurance in Minnesota – The core or primary policy a Minnesota business might buy. Covering you from bodily injury and property damage claims from third parties. It covers your premises, products, operations, and completed operations.

Liquor Liability Insurance in Minnesota – Also referred to as dram shop insurance, coverage claims arising from alcohol.

Restaurant Insurance in Minnesota – Hospitality insurance can protect your building, business personal property, liability, food spoilage, and more. If you serve liquor, liquor liability insurance can be added.

Tow Truck Insurance in Minnesota – Insurance for tow trucks and wreckers is a specialized type of protection. A commercial auto policy and many times a general liability insurance policy. Coverage for the autos you haul and that are in your lot is essential.

Workers’ Compensation Insurance in Minnesota – Workers’ comp covers injuries and sickness while on the job. It is required by Minnesota law if you have employees. The cost is based on payroll, the type of work the employees are doing, and claims experience.

Commercial Auto Insurance MN

Commercial auto insurance can cover a wide range of vehicles, including cars, trucks, and vans. It provides many of the same kinds of coverages as your personal auto policy. Coverage’s like liability, personal injury protection, uninsured and underinsured motorists, comprehensive, and collision.

How much does commercial auto insurance cost? Drivers of the business vehicles must be listed, and driving records are reviewed. Rates are lower for low-hazard professions, those with good records, and those with a claims history.

Workers’ Compensation Insurance MN

Do I need workers’ comp insurance in Minnesota? It depends on who is asking. If it’s the State of Minnesota and you have employees, the answer is yes. Workers’ compensation insurance is mandatory for businesses that employ employees. If you don’t have employees, then it is not required.

What if you are a contractor and your general contractor asks for it? You don’t have employees? In Minnesota, you can purchase a “Ghost or Waiver Policy.” It’s a written policy with zero payroll, so the cost is minimal after the annual audit. This policy allows you to provide a certificate of insurance to your general contractor and receive payment. The goal is for the general to protect themselves if they were ever injured and deemed an employee rather than a subcontractor. They also don’t want to pay for you on their Minnesota workers’ compensation insurance policy.