Disclosure: Our content isn't financial advice. Do your due diligence and speak to your financial advisor before making any investment decision. We may earn money from products reviewed. (Learn more)
The economy of North Dakota is backed by small businesses. The state had 75,265 small businesses with approximately 197,000 people employees in 2022.
The local firms, on the other hand, are struggling with economic volatility, natural catastrophes, and industry trends. For example, the dependence of the state on the oil industry brings revenue but the downside of it was other industries became neglected. In addition, productivity is affected by Mother Nature itself as wildfires and freezing temperatures can affect operations.
To tackle these problems, businesses need to acquire commercial coverage policies from reputable insurance firms. Insurance protects businesses from unexpected financial loss resulting from damage to property, third-party liability claims, or interruption of business activities.
This feature will discuss seven business insurance firms that operate in North Dakota and assist companies with their insurance needs.
InsuranceBee
InsuranceBee offers custom-made insurance products to small businesses, freelancers, and independent contractors. The company was founded in 2010 and has been providing general liability insurance, professional liability (errors and omissions) insurance, business owner’s policies, cyber liability insurance, workers’ compensation, and management liability insurance.
Some of its clients are businesses associated with contracting, consultants, caregivers, cleaning services, and real estate firms. They stand out for combining online services and dedicated customer support together to provide a personalized experience. This makes sure that their clients achieve financial success
NEXT Insurance
NEXT Insurance started its operations in 2016. It is an insurance company with a strong focus on simplifying the online coverage management process. The firm sells general liability, professional liability, commercial auto, and workers’ compensation along with other policies.
They have been serving over 1,300 professions in various fields like construction, retail, fitness, and education. What makes NEXT Insurance different from the rest is its digital platform that provides quotes in seconds, enabling coverage and insurance certificates access from anywhere in the world in an instant.
Thimble
Thimble provides self-employed contractors and small businesses with customizable insurance options. Their products comprise general liability, professional liability, business owner’s policies, commercial property, workers’ compensation, cyber insurance, business equipment protection, and event insurance.
The insurance firm caters to a variety of sectors like photography, landscaping, handyman services, cleaning, and event management niches. A unique aspect of Thimble is their on-demand coverage which allows customers to purchase insurance coverage by the hour, day, or month through their mobile application or website.
Tivly
Tivly is a digital marketplace that was established in 2009. It connects small businesses with a pool of 200 established coverage providers operating in North Dakota so clients can acquire their desired insurance solutions.
The primary products are general liability insurance, commercial property insurance, business owner’s policies, workers compensation, and professional liability insurance among other types of commercial insurance.
Tivly serves a broad range of industries such as construction, retail, and consultancy firms. They blend marketing, insurance technology, and live customer service to introduce clients to coverage providers.
Hiscox
Hiscox started as an underwriter at Lloyd’s of London. The company has been selling a selection of business insurance products like liability coverages, business owners’ policies, cyber insurance, commercial auto coverage, directors and officers as well as umbrella insurance.
The insurance firm has been providing its services to a wide range of sectors like architecture, engineering, health and wellness, consulting, and artisan subcontracting for more than 100 years. They have a strong emphasis on offering tailored solutions to small businesses.
The Hartford
The Hartford was launched in 1810. This well-known insurance and investment provider based in the U.S. has two centuries of experience in providing coverage policies to their clients across the country.
They offer a full suite of commercial coverage products such as general liability, commercial property, business owner’s policies, workers’ compensation, and professional liability insurance to construction, retail, healthcare, professional services, and other sectors.
The firm gives great importance to customer service and sustainable practices which shows the company’s dedication towards social responsibility.
Simply Business
Simply Business is a digital insurance broker that started its operations in 2005. They specialize in providing custom coverage for small businesses and landlords. The company deals in general liability, professional liability, business owner’s policies, workers’ compensation, and cyber insurance coverages. It was bought by The Travelers Companies in 2017 for around $490 million.
With over a million customers worldwide, Simply Business serves different industries including accounting, architecture, beauty, construction, and digital marketing. Simply Business has a proprietary technology platform that allows small business owners to easily compare and buy insurance policies online.
Brief Overview of Leading Insurance Firms In North Dakota
The table below describes how North Dakota’s leading eight insurance companies differ by product and unique selling features.
| Insurance Firm | Products Offered | Key Features |
| InsuranceBee | General Liability, Professional Liability, Business Owner’s Policy, Cyber Liability, Workers’ Compensation | Personalized customer experience, online convenience with advisor support |
| NEXT Insurance | General Liability, Professional Liability, Commercial Auto, Workers’ Compensation | Fully digital platform, instant quotes, 24/7 access to insurance certificates |
| Thimble | General Liability, Professional Liability, Business Owner’s Policy, Workers’ Compensation, Cyber Insurance, Event Insurance | On-demand coverage (hourly, daily, monthly), mobile app-based policy management |
| Tivly | General Liability, Commercial Property, Business Owner’s Policy, Workers’ Compensation, Professional Liability | Marketplace connecting businesses to over 200 insurance providers |
| Hiscox | General Liability, Professional Liability, Business Owner’s Policy, Cyber Security, Commercial Auto, Directors and Officers Insurance | Over a century of expertise, specialized coverage for small businesses |
| The Hartford | General Liability, Commercial Property, Business Owner’s Policy, Workers’ Compensation, Professional Liability | Tailored insurance solutions, strong commitment to customer service and sustainability |
| Simply Business | General Liability, Professional Liability, Business Owner’s Policy, Workers’ Compensation, Cyber Insurance | Proprietary technology for easy comparison and purchase of policies online |
Top Cities in North Dakota for Business Insurance
The following cities in North Dakota provide the required infrastructure support and economic environments suitable to find business insurance solutions
- Fargo
- Bismarck
- Grand Forks
- Minot
- West Fargo
- Mandan
- Dickinson
- Jamestown
- Williston
- Wahpeton
- Devils Lake
- Valley City
North Dakota Government Resources for Business Insurance
You can get additional information about business insurance requirements in North Dakota through these government resources.
- North Dakota Insurance Department
- North Dakota Workforce Safety & Insurance (WSI)
- North Dakota Secretary of State
- North Dakota Department of Commerce
- North Dakota Job Service
- North Dakota Department of Transportation
Conclusion
Selecting a trusted business insurance company is important for protecting your business against potential financial challenges. The above-mentioned companies provide a variety of products and services that are customized for different sectors.
If your business is relocating inter-state, we suggest you check out our listings of the best business insurance companies in New Hampshire and trusted carriers in Nebraska. You can also go through reliable business loans and startup financing companies in North Dakota for funding options. You can understand and make well-informed financial decisions using expert insights from Sophisticated Investor.
Brandi is a financial writer and entrepreneur with decades of expertise covering U.S. business and financial topics. Her work has been featured on Consumer Affairs, ASBN Small Business Network, Koho and many other top financial publications.
