Minnesota Business Insurance

Customized protection for your Minnesota business

As a small business owner in Minnesota, you should consider business insurance for financial and legal reasons. Customer mishaps, commercial property damage and employee injury are a few of the many incidents that can result in costly claims and lawsuits without the right insurance in place.

Minnesota reported 85,400 non-fatal workplace injuries in 2022, with nearly 86% of them from private sector businesses, according to the Bureau of Labor Statistics. Incidents like these can disrupt your daily operations and jeopardize your business assets and cashflow. Insurance helps to limit the burden of these setbacks.

The Progressive Advantage^® Business Program can help you find the business insurance you need to stay protected. We’ll help you customize a Minnesota policy if you need general liability, workers’ comp or a combination of coverages.

Types of MN business insurance

General Liability

This is the most common business insurance coverage, and nearly all businesses in Minnesota should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.

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Commercial Auto

This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. Your personal auto policy doesn’t cover vehicles while they’re being used for business reasons.

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Workers' Compensation

Businesses in Minnesota are required to have workers' comp insurance if they have one or more employees. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.

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Business Owners Policy (BOP)

A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property, such as a storefront, warehouse or office building.

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Professional Liability

Minnesota businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).

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Cyber Insurance

This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.

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How much does business insurance cost in Minnesota?

The cost of business insurance in Minnesota depends mostly on the type of work that you do. Professions are usually rated on the risks and exposures that are common to their industry. For example, a roofing contractor will typically pay more than a handyman because their work is done high off the ground.

Other factors that affect your rate include business size, location and coverage needs. A business in a large city like Minneapolis can expect a different rate than a business in a smaller city like Duluth. Additionally, a business that has employees might pay more than one that doesn’t.

Learn more about the factors that affect your business insurance rate, or get a quote online to find out what you’ll pay for customized coverage.

Minnesota business insurance requirements

Workers’ compensation is the only type of business insurance required by Minnesota state law. Businesses that employ one or more employees can get coverage through a private insurance carrier or qualify to become self-insured.

Contractors who hire subcontractors to do their work should consider workers’ comp coverage, even if they don’t have employees of their own. Contractors could be responsible for the injuries of their subcontractors who don’t have workers’ compensation insurance.

While Minnesota doesn’t legally require other business insurance, like general liability or a BOP, many prospective clients and landlords do.

Resources for Minnesota small business owners:

Minnesota Small Business Resources (MN.gov)
Workers’ Compensation Information (MN Department of Labor and Industry)
2023 Minnesota Small Business Profile (U.S. Small Business Administration)
2018 Minnesota Workplace Injury Data (U.S. Bureau of Labor Statistics)

Minnesota professions we insure

We help small business owners from a wide variety of industries, including these common professions:

Browse more examples of professions we insure.

Why choose Progressive?

Options

We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to make sure you’re getting protection that meets both your needs and budget.
Experts

As the #1 commercial auto insurer in America^*, you can trust us with all your business insurance needs. Our team of specially trained, in-house agents can assist you every step of the way to make sure you’re getting the best coverage for your business.
Convenience

There are several ways to get a quote, whether you need a single Minnesota policy or a combination of business insurance coverages. Simply start a quote online or call us to speak with an agent.