Business Insurance in Carrington, ND

Carrington is a community located in central North Dakota. The most prominent industries in Carrington are healthcare, food, and financial services.

Carrington's business owners need insurance that protects their assets when something goes wrong. An independent insurance agent can help you compare business insurance quotes in Carrington, ND to choose the best coverage for you.

How Much Does Business Insurance Cost in Carrington, ND?

Business insurance costs in Carrington, ND vary across businesses and industries. In general, your insurance costs will vary depending on the size of your business, the number of employees you have, the amount and value of your commercial property, the location of your business, and a number of other variables.

Depending on your business's risk, you’ll pay more or less than average for your insurance coverage. Some companies, for example, might be more susceptible to property losses from natural disasters, severe weather, or crime because of their location.

There have been 64 federally declared disasters in North Dakota since 1953. And even everyday events can easily cause unexpected property damage. The leading causes of property losses in North Dakota are as follows:

• Flooding and water damage
• Severe storms and lightning
• Heavy snow
• Tornados
• Burglary and other property crimes

A local independent insurance agent can help you assess all of the risks you face so that you better understand your business insurance costs.

Is Business Insurance Required in Carrington, ND?

You'll need several different business insurance policies, but most are not required by law in North Dakota. But if your business owns even a single vehicle, you have to buy commercial auto insurance that complies with North Dakota’s car insurance laws. Your commercial auto insurance must have liability coverage up to the following minimum limits:

• Bodily injury liability: $25,000 per person/$50,000 per accident
• Property damage liability: $25,000 per accident

You’ll also need to purchase uninsured motorist coverage, underinsured motorist coverage, and personal injury protection (PIP) coverage for your commercial vehicles in North Dakota.

In addition, workers' compensation insurance is required for any business in North Dakota with one or more employees, including full-time, part-time, seasonal, and occasional workers. Workers' compensation insurance helps injured workers pay for the costs of medical care and lost wages if they are injured on the job.

What Does Business Insurance Cover in Carrington, ND?

Business insurance in Carrington, ND, will typically include the following types of coverage:

• Commercial general liability (CGL) insurance: Protects your business from lawsuits related to bodily injury and property damage claims. It pays for medical expenses, legal fees, and financial settlements or judgments. Your CGL policy even covers personal injury claims such as libel and slander.
• Commercial property insurance: This covers damage to a building and its contents if damaged by a weather event, fire, theft, vandalism, and other covered perils.
• Business interruption coverage: Protects your earnings if your business cannot operate because of damage after a fire, hail, wind, equipment breakdown, or another covered event. If you must close for a while to make repairs or rebuild, this coverage pays for rent, employee salaries, lost income, relocation fees, and more.
• Commercial auto insurance: Protects your business-owned cars and trucks from property damage and liability claims.
• Workers’ compensation insurance: Pays for medical expenses and a portion of an employee's lost wages after a work-related injury.

Every insurance policy you purchase will include a very specific list of coverage exclusions, or things that are not covered by the policy. For example, commercial property policies typically exclude coverage for damage caused by flooding or earthquakes. And a CGL policy usually won’t protect you if you’re sued for damage that is caused by pollution or some other environmental negligence. 

But in some cases, what is excluded in one policy can simply be added back on to the policy with an endorsement or by purchasing a separate, risk-specific policy.

Small businesses that are located in flood zones, for example, can purchase flood insurance from the National Flood Insurance Program. Earthquake insurance may also be available for businesses that need it. And if your business has certain liability exposures that are not covered by your CGL policy, you can purchase one or several additional liability policies to fill in all the gaps. 

Your business insurance program will be different from your neighbors'. It's important to work with an agent who understands your unique business risks and who can recommend policies that provide the proper coverage.

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What Does Small Business Liability Insurance Cover in Carrington, ND?

Lawsuits against businesses are common. Whether a customer trips and falls in a store or a food manufacturer is responsible for sickening hundreds with tainted products, negligence claims can quickly destroy a business.

A commercial general liability (CGL) policy is a type of small business liability insurance that offers broad protection from lawsuits. It covers the injured party's medical expenses and any property damage you are responsible for. And it covers court costs, attorney fees, and even settlements or judgments that you must pay to injured parties.

CGL policies typically include premises liability insurance, which covers incidents on your business property. CGL policies also include product liability coverage, which pays for third-party damage, illnesses, or injuries caused by defective products that you produce, sell, or promote.

A CGL policy does not cover every kind of liability risk. There are additional small business liability policies available for many of these scenarios.

Talk to your independent insurance agent about why you might need environmental liability insurance, cyber liability insurance, professional liability insurance, or any other kind of customized small business liability protection.

Are There Any Small Business Health Insurance Plans in Carrington, ND?

Employee benefits can help you complete your small business insurance program. Group health insurance and other employee benefits don't cover your physical assets or protect against lawsuits. But they do play a role in ensuring that you have a healthy and happy workforce.

And if you offer a health plan to your employees, you’ll be eligible for certain tax benefits.

There are many different small business health insurance plans in Carrington, ND. A local independent agent can help you find an affordable small business health insurance plan that meets your needs.

What Are the Best Small Business Insurance Companies in Carrington, ND?

Finding the best small business insurance companies in North Dakota can be simple. A local independent insurance agent can help you get business insurance quotes from multiple insurance companies so that you can select the best policy for your needs and budget.

How Can an Independent Insurance Agent Help Me Find the Best Business Insurance in Carrington, ND?

Instead of getting an online quote, find an independent insurance agent now, and a get one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of business insurance quotes in Carrington so that you can make the best choice.  

What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.

Contact an agent today for a free, no-obligation consultation.