North Dakota (ND) Business Insurance

Choose The Hartford for Your North Dakota Business Insurance Needs

North Dakota, the Roughrider State, is home to more than 73,000 small businesses and employs over 198,000 employees.¹ Whether your company is in Fargo, Bismarck, Minot or anywhere else in North Dakota, The Hartford’s seguro de negocio can help protect you and your employees.

How Much Is Business Insurance in North Dakota?

Our small business insurance customers in North Dakota paid an average of $895 a year, or about $75 a month, for a Business Owner’s Policy (BOP).² Remember, insurance costs vary because every business has unique needs. So your cost may be different than the average. The best way to find out how much your business insurance will cost is to obtener una cotización.

Types of North Dakota Business Insurance Offered

North Dakota Business Owner's Policy (BOP)

A BOP helps protect your business from liability and property damage claims. It simplifies coverage needs by combining business property insurance, business liability insurance and business income insurance into one policy.

Consider a BOP for your business in North Dakota if:

There is potential for someone to sue your business. For example, a customer gets hurt in your place of business, goes to the hospital for his injuries and sues you for the costs.
Your North Dakota business has a physical location. This can be your home office, a rented/owned office or another place where you do business.
Your business owns tools or equipment that can get stolen or damaged, including digital and/or physical assets, digital hardware and software, tools, inventory, furniture, customer information and other data.

Purchasing a BOP is smart and straightforward. And because every business faces unique risks, you can tailor your BOP to fit your needs. You can get endorsements or add-ons to create a customized insurance policy.

North Dakota General Liability Insurance

Seguro general contra terceros helps protect your North Dakota business from financial loss due to claims that it caused bodily injury or property damage to others. You can get this coverage as a standalone policy or in a BOP.

North Dakota Business Income Insurance

Seguro para ingresos comerciales can help replace lost income when a business can’t operate due to a covered property loss, such as damage from theft, fire or wind. This insurance can help you pay ongoing expenses, such as payroll and monthly operating costs, while your business property gets repaired or replaced.

Consider business income insurance coverage for your ND business if:

Your business is a service business, such as a car repair shop or a nail salon, that depends on a physical location and tools to serve your customers.
Your business is a software company that relies on physical property (physical office, computers, servers) and digital property (cloud storage).
Your business is a retail store that requires both online and brick-and-mortar storefronts to showcase products that are available for purchase.

Workers' Compensation Insurance in North Dakota

North Dakota workers' compensation insurance, or workers' comp coverage, gives your employees benefits to help them recover from a work-related injury or illness. It can help pay their medical bills, provide disability benefits or replace lost income if they can't work.

It's important to know that North Dakota is a monopolistic state. This means business owners can't get workers' comp from a private insurance carrier. Instead, business owners must get coverage from the North Dakota state fund. You can learn more about workers' compensation in North Dakota by visiting the state's Workforce Safety & Insurance site.

North Dakota Professional Liability Insurance

Seguro de responsabilidad profesional, also known as errors and omissions insurance, helps protect your business from claims or lawsuits that it made a mistake in the professional services given.

For example, say you own a wedding photography business and ruin the photos or make a clerical error costing a client thousands of dollars. Professional liability insurance can help cover the costs related to the incident.

Some professionals that benefit from this coverage include real estate professionals, tax preparers, technology professionals, consultants, accountants and home inspectors.

Commercial Auto Insurance in North Dakota

If your business owns and uses vehicles for work, a el seguro comercial para automóviles policy could be helpful to protect you and your employees on the road. It can help cover claims of property damage or bodily injury if your employee gets into an accident while driving for work reasons.

North Dakota is a no-fault state, which means a driver's insurance company will reimburse them for medical expenses if they get into an accident.

North Dakota Minimum Business Insurance Requirements

If you have at least one employee, North Dakota requires you to carry workers' compensation coverage. You'll have to get coverage through the state. Visite el sitio North Dakota Workforce Safety & Insurance site para obtener mayor información.

If you have to carry commercial auto insurance or hired and non-owned auto insurance, there are also coverage requirements your business has to comply with, such as:³

Bodily injury liability: $25,000/$50,000
Property damage liability: $25,000 per accident
Uninsured motorist coverage: $25,000/$50,000
Underinsured motorist coverage: $25,000/$50,000
No-fault or personal injury protection (PIP): $30,000 per person

All businesses in ND must register their business name with the North Dakota Secretary of State's office. To contact The Secretary of State, call 800-352-0867 o visit their website.

While most businesses are not required to obtain a license to operate, some are. Examples include liquor stores, beauty shops, bed and breakfasts or hunting guide services. In some cases, the state requires a company to have insurance, but it’s not required in all cases.

Get a Quote for Business Insurance in North Dakota

We have more than 200 years of experience, so we understand the unique risks businesses face. We can work with you to get the coverage you need to protect your business. And if you're a policyholder and need help with a claim, we're here for you. Reciba una cotización today for business insurance in North Dakota, and see how we can help give you peace of mind.

Additional North Dakota Business Insurance Options

Última actualización: 9 de julio de 2024

¹ U.S. Small Business Administration, "2023 Small Business Profile: North Dakota."

² Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.

³ North Dakota Insurance Department, "Auto."

Divulgaciones adicionales a continuación.