Business Insurance
What is Business Insurance
Business insurance is a contract that transfers risk from your company to the insurance company. What risks are transferred, though, depends on the type of coverage purchased. Because there is such a wide variety of industries and risks unique to many of those industries, there are many types of commercial coverage available. As you can imagine, the coverage needed by an accountant is different than that needed by a contractor. Whatever coverage needed for your business, you’ll have to pay a premium in order for the insurance company to take on your risks. The premium is paid whether or not you experience a claim.
The insurance company is able to make this work because they collect premiums from many people but usually only a percentage of those people make a claim in a given year. The premium charged can vary from person to person based on a number of factors that the company believes makes you more or less of a risk. You can learn more about how business insurance works from the Insurance Information Institute.
How to Shop for Business Insurance
Figure Out Your Coverage
The first step is knowing what commercial insurance coverage you need. Some things to consider are:
- Do I have employees?
- Do I or my employees drive as part of our job?
- Do I own a building or business personal property?
- Do I take possession of customer property?
- Do I provide professional advice?
Get Multiple Insurance Quotes
The best way to find great insurance rates is to get quotes from a multitude of insurance companies. This can be difficult with business insurance because most companies offer coverage only on specific industries, certain lines of business, and even based on business owner experience. We can help find insurance companies that are willing to write coverage on your business.
Compare Insurance Companies
Once you’ve narrowed down your options to a handful of insurance companies, research each company’s claims satisfaction ratings, customer service ratings, financial stability, and any unique coverage offerings.
We Can Help
Let us walk you through the process and get insurance quotes from over 15 top companies on your behalf.
Business Insurance Coverage Available
Commercial Auto
Covers injury or property damage you or an employee causes while driving for work.
Commercial Liability
Covers a variety of claims, including bodily injury, property damage, advertising injury, completed operations, and more.
Commercial Property
Covers damage to your building, office furniture, inventory, business personal property, and other business property.
Worker’s Compensation
Covers employees that are hurt or made ill in the course of their work.
Professional Liability
Covers claims of professional negligence, mistakes, failure to act, and more.
Directors & Officers
Covers board members and executives from personal losses if they’re sued in connection with their service as a business officer or director.
Commercial Inland Marine
Covers business personal property that travels to job sites with you, such as tools.
Businesses We Can Cover
Contractors
Homeowners associations
Landscapers
Cleaners
Truckers
Hotels
Painters
Nonprofits
Tree trimmers
And many more
Frequently Asked Questions
If you have employees, the state of Minnesota requires you to carry worker’s compensation coverage. If you have no employees, coverage is optional. However, certain business contracts require coverage even if you have no employees.
Preserve & Protect
Get free insurance quotes for your family or business.