Business Insurance in Knoxville, Tennessee
Business insurance, also known as commercial insurance, can help your company recover from financial setbacks caused by unforeseen incidents. Many landlords, lenders and clients may also require proof of coverage before working with your company. 
What Does Business Insurance Cover?
For many companies across various industries, a suitable business insurance package may include the following:
- General liability insurance may cover costs if your business causes third-party injuries or property damage.
- Commercial property insurance may provide financial support if your physical assets, such as building, equipment and inventory, are damaged after a fire, theft, vandalism and certain weather events.
- Workers’ compensation insurance may reimburse medical bills and lost wages if an employee is injured on the job. This is required for most Tennessee businesses with five or more employees.
- Commercial auto insurance may cover vehicles owned or used by your business for work purposes and is also typically required by law.
- Professional liability insurance, also known as errors and omissions insurance, may help you manage claims of negligence or mistakes in professional services.
How to Choose the Right Policy
The following are some of the key steps business owners should take when evaluating insurance options:
- Assess your risks. Every business faces unique exposures. List the potential events that could disrupt your operations, including industry-specific risks.
- Estimate the value of your assets. Insurers often base premiums and coverage limits on the value of both physical and intangible assets.
- Compare policies, not just prices. Premium cost matters, but so do coverage limits, exclusions, deductibles and customer service reputation. Pay attention to what each policy does and does not cover.
- Ask about bundling options. Combining coverage can garner discounts, streamline your financial protection and simplify the claims process.
- Review your policy. Business needs change as you grow. Conduct a regular review to keep your coverage aligned with your operations.
Get Started
Whether you run a retail shop, a contracting business or a tech startup, business insurance can help financially safeguard your assets, employees and reputation. Contact Tennessee State Insurance today to discuss your options.