Minneapolis Business Liability Insurance

Minneapolis business liability insurance will provide necessary protection for your Minnesota company. Third-party claims could easily put an uninsured company out business. Legal fees can be extremely costly, and damages can be sky-high. Luckily, your liability insurance has the duty to defend and the duty to indemnify, so all you pay is the deductible.

Choosing a good Minneapolis insurance agent requires time, patience and good research, but it's not a complicated process. And, fortunately, if you choose a good agent, you'll have a much easier time sorting out your Minneapolis business liability insurance. An agent can explain all the complicated insurance terms to you in understandable language, and help you chose a good insurer for your particular industry.

You may need different types of specialty coverage, in addition to your commercial Miinneapolis business liability insurance. For example, you might want to consider Directors and Officers liability to protect some of your key employees. Also, if you have employees, you probably want to consider Employment Practices Liability Insurance. EPLI will protect you if your employees make claims against your Minneapolis company.

Minneapolis Insurance Agents

Luckily, there are a fair number of Minneapolis business liability insurance agents who would be happy to help you choose a Minnesota general liability insurer and an appropriate policy for your company. You can be particular about who you'd like to work with, since there are plenty of agents who would appreciate you business. Of course, on the other hand, with so many Minneapolis agents out there, it can be hard to decide who to work with!

To begin with, limit your search to Minneapolis, MN agents who know your industry well. There are agents who specialize in insuring musicians, automobile manufacturers, liquor stores, lawyers, restaurants and so forth. If you choose a Minnesota agent that has experience insuring businesses like yours, you're more likely to get a comprehensive policy with a good insurer that suits your needs.

Next, be sure you interview several Minneapolis business liability insurance agents before making your decision. Don't settle for the first person you meet! Even if you like the first agent you meet with a lot, go ahead and schedule interviews with a couple other agents as well. You want to make an informed and careful decision, since your Minneapolis agent will be responsible for protecting your company in essential ways.

Minneapolis business liability insurance agents can be a little like salespeople, so you don't want to fall for any "tricks". Agents can be chatty and charming, but that does not necessarily mean they know what they're doing. You want to choose an agent that will work hard on your behalf and secure a good policy, regardless of whether or not he knows how to "talk the talk".

Above all, use your intuition when your choosing a Minneapolis business liability insurance agent, and take your time, too. Ideally, you'll establish a good relationship with your Minnesota agent, and you'll maintain this connection for years to come. It will make dealing with claims and company growth much, much easier. Choose a reliable, efficient agent, and insuring your company and keeping your policy updated will be easy.

D & O Liability Coverage

If the Directors and Officers of your MN business are not insured, they can be held personally liable for their mistakes. Insuring your company's key people can be a wise decision. Furthermore, you may even want to consider insuring your Board of Directors. As an added bonus, providing this coverage may help you attract high-profile board members.

Your Minneapolis business liability insurance agent can help you decide whether or not it's necessary have D & O for your company's leaders. Lawsuits generally come from employees, creditors and competitors, which is why D & O may be wise. Your Minneapolis business liability insurance doesn't protect you from claims within the company. In other words, if an employee attempts to sue the company (or a director), you aren't covered by your general commercial policy.

If you have employees, you should also consider Employment Practices Liability, to protect your business from employee claims. Unfortunately, employees sue for all kinds of reasons, and often unexpectedly, so you should most likely purchase this coverage. It also covers your company if an employee steals unbeknownst to you. Also, you may be able to get both EPLI and D & O coverage in the same, simple add-on.

Your Minneapolis business liability insurance agent can talk to you about the different policies you may want to have. For example, you may need to consider company automobiles, liquor (if you're serving), malpractice, products (if you're selling or manufacturing anything), and a number of specialty policies. Insuring your business isn't exactly a straightforward process, since you need to assess a number of different potential risks and set the appropriate limits.

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