Business Insurance for the State of Tennessee
Your work hard to keep your business growing and thriving, but life doesn’t always go as planned. A solid business insurance solution can protect you from significant risks, letting you focus on doing what you do best- running your business and taking care of your customers.
Workers Compensation
You strive to keep your employees safe, but accidents and illness are always a possibility, and it’s important that you protect both your business and your staff. Worker’s compensation insurance covers all work-related bodily injuries and illnesses, including medical costs, rehabilitation, and death benefits in worst-case scenarios as well as wages lost during an employee’s absence after a work-related incident. This coverage does not apply in cases where workers are injured while engaging in non-work related activity or for illnesses not strictly related to their occupation.
How do you know if you need this type of coverage? Worker’s compensation insurance is required for specific industries in the state of Tennessee, as well as any businesses with five or more employees. Even if your business isn’t required to maintain worker’s compensation coverage, a worker’s comp policy can protect you from lawsuits filed for injuries sustained by your employees.
Business Auto
When your livelihood relies on your vehicle, losing the use of your vehicle can significantly affect your income as well as future business.
Whether you’re involved in a collision, your car is stolen, or your truck is damaged in a hailstorm, business auto insurance protects you from the high costs and fines you would otherwise pay for out of pocket when the unexpected happens.
Commercial auto insurance provides the same coverage as standard car insurance with additional benefits to account for your additional assets and losses, including lost wages while your vehicle is nonfunctional. In situations where your vehicle includes specialized equipment, specialized policies are available to cover your additional assets.
Business Liability
Everyone makes mistakes, but some mistakes can result in lawsuits and serious losses for your business.
While not required to operate a business, general liability insurance is necessary for most contracts and provides coverage for legal fees, medical costs for personal injuries sustained by a third party, and damage to another’s property, including leased equipment. General liability also provides coverage against claims of libel and slander. Injuries sustained by employees while on the job are not covered by liability insurance and require an additional worker’s compensation policy.
If your business provides advice or performs services for clients, we can also recommend a professional liability insurance policy to protect your company against claims of negligence, bad advice, and copyright infringement. Professional liability insurance can be especially beneficial or contractors, attorneys, accountants, hairdressers, IT workers, and other professionals at risk of a lawsuit for damages and losses as a result of services rendered.
Commercial Property Insurance
While your commercial property is a valuable asset for your business, it also presents a set of serious risks.
Commercial property insurance ensures that you don’t lose everything if and when you experience losses related to your property. Just like your homeowners’ insurance, business property insurance can provide coverage for damages caused by fire, floods, water leaks, and storms depending on your policy. Your property isn’t just at risk from the elements, however, and your insurance policy may also cover damages and losses from accidental damage, theft, and vandalism.
The right policy for your business property depends on current and potential risks related to your location, your industry, your building’s construction, and any other relevant factors. Most commercial property policies offer protection for your building as well as its contents, including furniture, equipment, inventory, and landscaping fixtures.
Ready for coverage you can count on? Contact us online or at 731-285-5969 to get started with an insurance review and free quote today!
