Minneapolis

Minneapolis, MN Business Insurance: Know Your Facts

Find the right business insurance policy for you.

The largest city in Minnesota is second only to Chicago as a center of business in the Midwestern Region of the U.S. The city was named as a Top Tech City by Popular Science in 2005, and five Fortune 500 companies have their offices in the city. If you own or manage a business in the city, finding good Minneapolis, MN business insurance should be a priority.

An independent agent in the Trusted Choice® network will work with you to analyze your coverage needs, compare Minneapolis commercial insurance quotes, select the best solutions, and help anytime you need to file a claim. Independent agents have the ability to compare coverage from multiple insurance companies, which means you will have a full range of options available to you. Find a local member agent today and protect your bottom line.

  • In 2010, the Minnesota GDP was $267 billion
  • In 2012, 19 Fortune 500 companies were located in Minnesota
  • Only 8 states have more corporate headquarters than the state of Minnesota

Minneapolis, MN is also well known as a center of finance, transportation, and commerce, in addition to being a cultural hub where arts, entertainment and hospitality industries thrive. The U.S. Small Business Administration maintains an office in the city to support a growing number of small businesses and service professionals.

How Much Does Minneapolis Business Insurance Cost?

  • Small business professional liability yearly cost estimate: $500 to $2,500
  • Small business general liability yearly cost estimate: $500 to $15,000
  • Small business health insurance estimate: $500/individual to $12,000/family

Since no two businesses are exactly the same, getting accurate commercial insurance costs involves working closely with an agent who can get to know your business and help determine your specific risks. An independent agent in the Trusted Choice network can help you find the right coverage to meet your needs and budget. Your agent can suggest coverage specific to your risks and present you with competitive price quotes.

How Minneapolis Business Insurance Minimizes Risks

Assessing your unique business risks is the first step in mitigating them. If you have a small shop or office, you will have many of the same concerns that a large company has, but on a different scale. You will also have a number of risks that are specific to the type of work you do.

A company that serves food and alcohol to patrons, for example, needs specific coverage for the risks involved. A company whose workers operate heavy machinery has a different set of concerns to cover. The following are a few examples of coverage types you may need.

  • Property damage insurance for severe weather, fire and vandalism
  • Liability coverage based on your specific liabilities, whether you provide a service, manufacture products, deliver goods, or perform surgery
  • Coverage for fraud, embezzlement, extortion or theft
  • Insurance against cybercrime and data loss
  • Commercial vehicle insurance for your business vehicles or commercial trucks

Downtown financial advisors may be particularly concerned about professional liability insurance, while a transportation or bus company is more concerned with commercial vehicle insurance. Either way, a local agent in the Trusted Choice network who specializes in commercial insurance will evaluate your business, help to identify threats, and present you with quotes on various coverage types that cover different aspects of risk.

Smaller and simpler businesses may be able to buy a single business owner policy, or "BOP," that combines several types of coverage, whereas larger companies typically need to purchase several different types of coverage for various types of risk. Regardless, a local independent agent can help you get all of your coverage needs met out of one office.

Group Benefits Insurance for Business Employees

Employers offer benefits to employees in order to attract and retain a quality workforce and take care of their people. Some benefits include group health and life insurance, disability insurance, and retirement annuities. Trusted Choice independent agents in Minneapolis can help you learn more about the many options and explain the costs and benefits of providing coverage to your valued employees.

What Minneapolis Business Insurance Do You Need?

The following are some of the common types of commercial insurance policies you may need to cover your risks:

  • General liability insurance
  • Product liability insurance
  • Professional liability insurance
  • Commercial property insurance
  • Worker’s compensation insurance

You may need a range of additional types of insurance to cover your specific risks, whether you run a restaurant on Lake Calhoun or you have a courier service in the financial district. It is important to analyze your specific business risks to select the right coverage. The type of business you run, your exact location in the city, and the number of employees you have will all affect the types of coverage you need.

Compare Minneapolis Commercial Insurance Quotes

A local independent agent in the Trusted Choice network can meet with you, learn about your business and your concerns, and help you compare Minneapolis business insurance options from multiple companies to find the right coverage at the right price.

No two businesses have exactly the same coverage needs. In addition, some insurers have more affordable coverage than others, so it is important to compare quotes and coverage options with the help of an agent. Get started finding the right coverage by contacting a local commercial insurance agent in the Trusted Choice network.

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