Running a small business is a big responsibility - and with that comes big risks.
Business insurance is designed to protect your company from financial losses caused by unexpected events like accidents, lawsuits, theft, or natural disasters. Without the right coverage, just one incident could put everything you’ve built at risk.

General Liability Insurance: Your First Line of Defense

General liability insurance covers third-party claims of:

Example: A customer slips on a wet floor in your retail shop, breaks their arm, and sues your business. General liability insurance helps cover the medical bills and legal expenses, shielding your business from financial harm.

Property Insurance: Protecting Physical Assets

This coverage protects the physical elements of your business - your building, inventory, equipment, and furniture - from risks like fire, theft, or severe weather.

Whether you own or lease your space, property insurance helps keep your operations running even after a disaster.

Workers’ Compensation: Taking Care of Your Team

If an employee is injured or becomes ill due to their job, workers’ compensation insurance helps cover:

In Minnesota, workers' comp coverage is required by law - making it essential for any business with employees.

Professional Liability / Errors and Omissions Insurance

If your business provides a service or advice, professional liability insurance (also called E&O insurance) protects you against claims of:

It covers legal defense, settlements, and judgments that may arise from client lawsuits.

Business Interruption Insurance

If a covered event forces your business to temporarily shut down - like a fire or severe storm - business interruption insurance helps cover lost income and ongoing expenses like payroll or rent. It’s a vital safety net for business continuity.

Tips to Evaluate Your Specific Business Needs

Assess your unique risks:
Consider how customer interactions, equipment usage, or data storage could expose your business to loss.

Evaluate your physical and digital assets:
Make sure your property, inventory, and digital systems (like your website or POS software) are protected.

Don’t forget digital risks:
If your business handles sensitive data - such as customer info, payment records, or marketing platforms - cyber liability insurance can protect against:

Consult an expert:
A licensed insurance agent who understands your industry can help build a customized coverage plan that fits your business size and budget.

Review annually:
Reassess your insurance every year or after major business changes like hiring staff, moving, or expanding services.

Stay Ahead of Risk with Profinium Insurance

Your business is too important to leave unprotected. Take time each year to review your coverage - and make sure it still fits your needs.

Profinium Insurance is here to help with personalized, pressure-free advice.
Contact our team today for an annual review and let’s build a plan that protects what you’ve worked so hard to grow.