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Insurance cover for small businesses in North Dakota
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Cyber Liability Insurance protects you from the theft of sensitive data. If you suffer a data breach or software attack, Cyber Liability Insurance will cover the costs of notifying and restoring affected customers, recovering data and repairing security systems.
Frequently Asked Questions
Do I need insurance for my business in North Dakota?
Policies like Workers' Compensation coverage or Commercial Auto Insurance may be required if your North Dakota business has employees or business vehicles. Other coverages protect your business against common risks, like fires, injury liability, and more.
What insurance do I need as a North Dakota business?
North Dakota requires most businesses with employees to carry Workers' Compensation coverage. Businesses that use highway vehicles are also required to carry Commercial Auto Insurance to provide liability coverage.
What will happen if I don’t buy insurance for my business in North Dakota?
North Dakota may impose penalties for businesses that don't carry required coverages. Other risks to your business are financial, leaving your business responsible for covering losses for theft, fire, liability, and other risks.
My employees use their cars for business, what do I need to comply with North Dakota requirements?
Automobile Insurance is required for all drivers within North Dakota. Although Commercial Auto Insurance is not mandatory for personal vehicles, personal auto policies may not provide coverage for vehicles used on official business trips.
Guide to commercial insurance by state
Insurance laws and requirements may vary state by state. Click on your state to discover the insurance you will need for your small business: