Best Business Insurance Minnesota

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Get MN small business insurance quotes and info on costs, coverages, minimum requirements, certificates & more.

Types Of Small Business Insurance

  • Includes medical payments, legal representation, and defense against libel and slander accusations.
  • Bundles general liability insurance and commercial property into one affordable policy.
  • Provides financial protection if an employee has a job-related accident or illness.
  • Pays to repair or replace your business property if it's stolen, damaged, or destroyed in a fire or natural disaster.
  • Covers mistakes or alleged mistakes on your part (errors) & failures or alleged failures to perform a service (omissions).
  • Is liability and physical damage protection for vehicles, such as cars, trucks and vans, that are used for business.
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Frequently Asked Questions About Small Business Insurance


How much does general liability insurance cost?

In 2019, commercial general liability costs can vary widely based on industry. Businesses in higher risk industries pay more. Premiums are also determined by zip code and often payroll and/or gross sales. You can request a free quote to get an exact premium for your business. Read more...

What types of business insurance do I need?

Almost every business needs general liability and commercial property insurance at the very least. If you have any non-owner employees, you'll most likely need workers compensation insurance too as most state require it. It all depends on the risks your business faces. Read more...

How does general liability insurance work?

Having general liability is the basis of any business insurance program. If you can afford only one commercial insurance policy for your small business - then you should get a commercial general liability policy, because it offers protection against a wide range of common but unexpected risks. Read more...

What is a Certificate of Insurance?

A Certificate of Insurance (COI) is proof of coverage. It verifies that you have insurance coverage for your small business, & contains information on types and limits of coverage, insurance company, policy number, named insured, and the effective date of the policy. Read more...
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Best Business Insurance Minnesota Policy Information

MN Best Business Insurance

Best Business Insurance Minnesota. Most small businesses are not fully aware of the commercial insurance coverage they have or they might they need. Many business owners buy insurance because they have to comply with a landlord or contractual requirements.

When you have a small business you need control. The best business insurance Minnesota helps you maintain control when things over which you have no control try to control you.

What is the best business insurance in Minnesota? Find out and protect your business from lawsuits and legal liability. Get a fast quote and your certificate of insurance now.

How Much Does General Liability Insurance Cost?

There are four common types of commercial insurance that most small business should consider to find the best business insurance Minnesota:

  • Employee Insurance: Employee insurance is basic. If you have any non-owners or partner employees, most states mandate that you need to have MN Worker's Compensation Insurance. The other type of insurance to consider for employees is health insurance. Health insurance is used to attract high value employees. At the very least, the business owner should have health insurance. If the owner has to cover high health costs for him or herself or for any of their family members, it could put undue strain on the business finances. And if the health situation is severe enough, it could lead business interruption. Health insurance will not cover that cost.
  • Business Interruption Insurance: Business interruption insurance provides cash flow when your business can not produce revenue due to a covered cause. A fire or natural disaster may destroy your place of business. But to stay in business, you need to keep covering expenses, such as payroll, while you are recovering from the event. The problem is that your business is producing no cash. With proper business interruption insurance, this is not an issue.
  • Liability Insurance: Sometimes someone blames you for doing something wrong - whether it is true or not. The person wants to hold you liable for the property damage or bodily injury your actions caused. You may have to pay expensive legal fees to defend your actions. This is the purpose of liability insurance, to cover the costs of lawsuits and monetary claims field against the business.
  • Property Insurance: Then there is property insurance. If you own property, you can cover it with property insurance. Property does not pertain only to buildings and physical structures. Any piece of office equipment, machinery, etc. is considered business property. If these things are either stolen or destroyed, they need replaced. You can cover the expense yourself (self-insurance) or you can cover yourself by buying property insurance.

Tips to Finding the Best Business Insurance Minnesota Quotes

For many company owners, their company is their pride and joy. They dedicate long hours to their company, working hard to make it succeed, so when it comes to business insurance quotes, they want to be assured they are getting the best level of cover at the best possible premium.

For any company owner, their monthly expenditure is what determines their profits. Spending too much money on insurance, for example, can leave them with fewer profits than if they were able to find a good level of cover without breaking the bank. The economic crisis caused many companies to let their policies lapse, leaving them in a very serious situation when it came to risk. A claim against them could have pushed them over that edge, forcing them to close their doors for good.

The first step to finding the best business insurance Minnesota quotes is to search online for a reputable broker that works with leading companies throughout the country. This way you know that you will have the best insurers on your side, should you ever need to claim. You want a company that offers more than just the best business insurance quotes. Be sure the company you choose works with a choice of leading insurers throughout the country. This way you are offered variety in terms of policies and premiums. Each company will have different advantages. You want a company that is reliable in terms of their service and claims process. Anyone can find cheap premiums online, but the level of service you get for your company is just as important.

The saying "cheaper isn't always better" couldn't be truer when dealing with your company and assets. Rather choose a company with reliability and reputability even if they are slightly more expensive than some of the other companies you have found. The most important factors are their claims process, reliability and their customer service.

You want flexibility when paying for protection for your company. If you were to purchase a new vehicle and sell the old one, you want a quick and easy way to update your policy without any hassle. The best time to test an insurer's flexibility is when obtaining business insurance quotes. Chances are the first estimates you get, won't quite meet your requirements and you may have to make some minor changes. Seeing how the insurer manages these changes is a sign of what you can expect in the future. If they are quick and do the changes without hassle, then you are on the right track.

It's so important when obtaining best business insurance MN quotes online that you check the level of coverage you are being offered. When you use comparison sites, for example, you tend to find you are offered the very basic level of coverage, nowhere near enough to protect your daily operations. One size doe not fit all. Always check the level of coverage and compare it to your risk assessment to ensure that your policy protects you from the risks your businesses faces.

How To Find The Lowest Cost Policy

Be sure you look closely at the quotes to see where you can reduce the premium. Most insurers will take certain factors into consideration that will give discounts like having a central station alarm or safety meetings with your employees, etc. These prove you are a lower risk to them and can help reduce your premium.

Minnesota Economic Data And Business Insurance Regulations

Made In Minnesota

If you're an entrepreneur who is thinking about starting a business or expanding your company by opening a division in a new location, you know that there are a number of factors you have to consider. One of the most crucial elements business owners must take into consideration is the conditions of the location they are interested in; the area needs to offer conditions that are favorable for the business in order for the operation to thrive. A suitable target demographic and a healthy labor market are just some of the elements that indicate whether or not a business will thrive.

For business owners who have Minnesota in mind as their base, below, we've highlighted key details that suggest whether or not the Land of 10,000 Lakes offers favorable conditions for business owners. We also discuss the forms of commercial insurance that businesses are required to carry in the state.

Economic Trends For Business Owners in Minnesota

The unemployment rate of a state is a good indication of whether or not a state is suitable for business operations, as it provides insight into the labor market. According to the Bureau of Labor Statistics, as of May 2019, the rate of unemployment in The Gopher State was 3.3 percent, while the national average was 3.6 percent. While there has been a slight increase from 2018 (0.5 percent from June 2018 to May of 2019), the rate still indicates that the labor market in the state is favorable, which is a good sign for entrepreneurs.

Anywhere throughout the North State offers suitable conditions for businesses; however, there are some areas that are particularly ideal. These areas either large cities or areas that surround the state's largest cities, including:

  • Alexandria
  • Eden Prairie
  • Edina
  • Golden Valley
  • Little Canada
  • Mendota Heights
  • Minneapolis
  • Minnetonka
  • Roseville
  • St. Paul
  • Thief River Falls

Certain industries do better than others in MN, and businesses that are centered on these industries have a greater chance of achieving success. The leading industries within the state include:

  • Agriculture and forestry
  • Bioscience
  • Hospitality and tourism
  • Information technology
  • Manufacturing
  • Sustainable energy (specifically wind power)
  • Transportation
Commercial Insurance Regulations For Businesses In Minnesota

The Minnesota Department of Commerce regulates insurance in Minnesota. Commercial insurance is designed to provide business owners and the individuals they associate with (employees, customers, and vendors) from a multitude of risks. To ensure proper protection for all, companies are required to carry the following commercial insurance policies in The North Star State:

  • Workers' compensation insurance, which provides coverage for work-related injuries and illnesses that employees may sustain.

Business that use vehicles for business-related purposes over a certain weight, must also carry commercial auto insurance, and any company that sells or otherwise distributes alcohol must carry liquor liability coverage.

Additional Small Business Commercial Insurance Resources

Read informative articles on small business commercial insurance including costs and coverages.


Small Business Insurance Articles

Get useful tips and information about how much commercial insurance costs, small business risks and exposures, how insurance regulations effect your businesses' and detailed descriptions of coverages and exclusions and more. Most small businesses need to buy the following four types of insurance at a minimum to cover their operations from every day risks:

Property Insurance: This policy covers a business if the property used in the business is damaged or stolen as the result of common perils like fire or theft. Commercial property insurance covers the buildings, structures and also business personal property - which includes furniture, inventory, raw materials, machinery, computers and other items.

Liability Insurance: Any company can be sued. Slip-and fall lawsuits are very common and be costly. Customers can claim you injured them or damaged their property - and lawsuits are very expensive. Commercial liability insurance pays damages and can include attorney's fees and other legal expenses. It also ca pay for the medical bills of injured third parties

Commercial Auto Insurance: For vehicles owned by the business. Commercial auto insurance pays bodily injury or property damage costs for which the business is found liable - up the the policy limits for liability and property damage.

Workers Compensation Insurance: In almost every state employers must provide workers comp when there are W2 employees. Workers compensation pays for the medical care of employees and can replace a portion of lost wages - regardless of who was at fault for the injuries.


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Also learn about Minnesota small business insurance requirements for general liability, business property, commercial auto & workers compensation including MN business insurance costs. Call us (612) 808-9866.

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