Business Insurance in North Dakota

Starting a business will unlock your business ownership dream and exposes you to numerous risks like fire, theft, employee accidents, and so on. Thankfully, you don’t have to stress about business risks since Business Insurance exists to cushion businesses. Whether you are a small, medium, or large-sized company in North Dakota, Business Insurance is a must-have investment. Kramer Agency in Bismarck, ND can help.

Mandatory Business Insurance coverages in North Dakota

The law in North Dakota requires businesses to carry worker’s comp insurance. This insurance protects your workers from illnesses and injuries sustained in the workplace. Besides, this coverage helps cover partial loss of income when the employee can’t resume work due to the injuries sustained.

Furthermore, commercial auto insurance is mandatory for business vehicles. Whether you use your cars to run errands, carry goods, or conduct site inspections, you must purchase commercial auto insurance to protect your driver and the vehicle.

Optional Business Insurance coverages

Most business owners in North Dakota purchase additional business insurance coverages to provide optimal protection to their businesses. Some optional business insurance options to consider include:

  • Liability coverage: This insurance policy comes in handy in shielding your business against liabilities such as advertising injury, bodily injury, and property damage caused to others.
  • Commercial property coverage: It protects your business premises and contents from perils like fire, vandalism, theft, and certain natural disasters.
  • Business owner’s policy (BOP): It combines the above two coverages for affordability and convenience.
  • Cyber liability: It’s suitable for online-based businesses and those businesses that store sensitive data on behalf of their clients. It protects your company against malicious online activities like hacking.
  • Professional liability insurance: It protects your business against alleged negligence and missed deadlines. It’s suitable for businesses like accounting, auditing, and legal, whose professional advice is relied upon by stakeholders to make crucial decisions.

Would you like to protect your business with Business Insurance? Do not hesitate to get in touch with Kramer Agency in Bismarck, ND! Let’s take care of your insurance needs as you concentrate on more pressing business matters.