Small Business Insurance North Dakota

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Customized business insurance in North Dakota

Small businesses are vital to North Dakota’s economy, employing more than 195,000 of its residents and accounting for almost all companies in the state.1

Business insurance in North Dakota plays an essential role in protecting small companies against incidents like:

  • Accusations of injury or property damage
  • Employees who get hurt at work
  • Work-related automobile accidents
  • Professional mistakes and oversights that cause financial losses

Next Insurance helps more than 1,000 types of small businesses and self-employed workers quickly get the coverage they need online at the best price. We specialize in small business insurance, so we can easily help you find a custom insurance package that is right for you.

Continue reading to find out about the most important types of business insurance in North Dakota or start a free instant quote to review options for your business.

Business insurance coverage and requirements in North Dakota

Next customers in North Dakota usually carry a combination of these types of coverage:

business insurance lp img1
General Liability insurance
General Liability Insurance

Business insurance packages in North Dakota frequently include general liability coverage to protect against claims of injuring someone who doesn’t work for you or damage another person’s property. General liability insurance pays for medical expenses and property repairs or replacement in these kinds of situations.

If someone names your company in a lawsuit for injuries or property destruction, general liability insurance helps pay for attorney fees, court costs and other damages for which you are held responsible.

For example, a customer at a small grocery store in Fargo blames the business owner after suffering an injury when a canned goods display falls. The retailer’s general liability insurance would help cover the person’s medical bills and potentially avoid an expensive lawsuit.

Even if your company has few general liability risks, you will often need this type of coverage if you plan to rent office space.

Owners of cleaning and construction companies might want to add tools and equipment coverage to their business insurance bundles in North Dakota. This upgrade helps cover essential business gear that is damaged, lost or stolen.

Workers' comp insurance
Workers’ Compensation insurance

North Dakota requires that all businesses with employees carry workers’ comp coverage in case someone gets hurt on the job. This includes full-time, part-time and seasonal workers.2

Workers’ compensation insurance pays injured employees’ medical bills and helps them recover part of lost wages while they can’t work. In North Dakota, the latter benefit operates under a three-tiered system, with some disabled employees eligible for up to 90% of their pre-injury weekly lost wages.3

For example, an employee of a tree trimming company in Grand Forks sustains an injury after falling from a ladder. Workers’ comp coverage helps the employee pay for medical bills and would cover some lost wages if the injury prevents him working for more than five consecutive days.

Commercial auto insurance
Commercial Auto insurance

Business insurance in North Dakota should include commercial auto coverage if you own vehicles, since personal auto insurance is unlikely to cover damages that happen when driving for business purposes.

North Dakota law mandates that all drivers carry at least $50,000 for injuring multiple people in an accident and a minimum of $25,000 for damaging property.4 But the minimum coverage might not be enough to pay for damages if someone has a serious accident, so we strongly recommend opting for higher policy limits, particularly if you own multiple vehicles that employees frequently drive.

Here’s when commercial auto insurance would help protect a business:

An employee of a Minot-based concrete pouring business has an accident in a company truck and injures two other people. The business owner’s commercial auto insurance would help pay for the injured persons’ medical expenses and damages to the other vehicle.

You might occasionally ask employees to drive their own vehicles for work or get rentals. In these cases, you’ll need an add-on known as hired and non-owned auto insurance to help pay for accident damages.

Errors & Omissions
Professional Liability insurance

Claims of professional negligence can include poor work quality, missed deadlines and incomplete jobs. If a client alleges that your company made a work oversight or error that caused financial losses, you could be responsible for damages.

Professional liability insurance, which is also known as errors and omissions (E&O) coverage, helps small businesses pay to address these types of claims. E&O insurance assists businesses with legal costs if someone sues over a professional negligence claim, including attorney fees, court costs and damages for which it is held liable.

For instance, a client says that a self-employed management consultant in Bismarck gave inaccurate advice when recommending expansion plans, which led to a $60,000 loss. The management consultant’s professional liability coverage helps pay the client for damages, up to the policy limits.

How much does insurance cost

How much does business insurance in North Dakota cost?

Next customers spend a median of $45 for business insurance in North Dakota across all industries that we serve. Expect your individual costs to vary based on factors such as:

Risks your business regularly encounters. You’ll pay more for business insurance in North Dakota if you’re in an industry that is more exposed to risks. For example construction companies based in the state spend a median of $67 per month for coverage, while cleaning businesses pay $43.

Your coverage choices and policy limits. It can be tempting to purchase the minimum amount of required insurance and lower policy limits to save a few dollars each month. But be prepared that you might pay higher out-of-pocket costs if you need to file a claim.

How many people you employ. Businesses with 15 employees will pay more for workers’ compensation insurance than those with three staff members. Be certain to provide an exact employee count to receive the most accurate quote.

Start a quote with Next Insurance today to explore coverage options for your business in just a few minutes.

Dedicated small business insurance

How Next can help you with business insurance in North Dakota

We offer a quick and simple way for you to get business insurance quotes online, purchase coverage and share your certificate of insurance. The entire process typically takes just a few minutes.

Our team of licensed, U.S.-based advisors can help you if you have any questions.

More resources for North Dakota small businesses and self-employed workers

Customer reviews

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I am totally excited about my new insurance for my small business. I am happy that the price was in a range that I can afford, the terms were easy to understand and it was so simple to purchase my first policy. I look forward to doing business with you in the future.
Curzella J.
Easiest insurance purchase – EVER!
I was looking around trying to compare insurance and I am so lucky I found NEXT. I was able to compare levels of coverage, and all the options, without pressure from a salesperson or time limits. I was able to check out prices and it was more coverage for less than the “traditional” company I looked at.
Michael W.
Happy small business owner!
I needed liability insurance for my new small business brick & mortar location. I got the run around from another company, but NEXT provided a competitive insurance quote in a timely manner. I now have the insurance that I need and it was stress-free!
Nicole E.
* To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.
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Issuance of coverage is subject to underwriting. Not available in all states. Please see the policy for full terms, conditions and exclusions. Coverage examples are for illustrative purposes only. Your policy documents govern, terms and exclusions apply. Coverage is dependent on actual facts and circumstances giving rise to a claim. Next Insurance, Inc. and/or its affiliates is an insurance agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales. Policy obligations are the sole responsibility of the issuing insurance company. Refer to Legal Notices section for additional information.

Any starting prices or premiums represented before an actual customer quote are not guaranteed and are representations of existing premiums of active policies as of December 6, 2023. To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.