Business Insurance in Tennessee

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Recommended small business insurance policies in Tennessee

General liability insurance icon

General liability insurance

This type of business liability insurance is important for all Tennessee businesses. It covers common third-party risks, and it's required by most commercial leases.

BEST FOR
  • Customer bodily injuries
  • Damaged customer property
  • Libel and other advertising injuries
Professional liability insurance icon

Professional liability insurance

This policy, also called errors and omissions insurance (E&O), protects Tennessee businesses that provide professional services or advice. It covers lawsuits related to work performance.

BEST FOR
  • Work mistakes and oversights
  • Professional negligence lawsuits
  • Late or incomplete work
Cyber liability insurance icon

Cyber liability insurance

This policy covers financial losses from data breaches and cyberattacks. It's recommended for Tennessee businesses that handle credit card numbers and other sensitive data.

BEST FOR
  • Customer notification expenses
  • Fraud monitoring services
  • Data breach investigations
Business owner’s policy icon

Business owner's policy

A BOP bundles commercial property insurance and general liability coverage in one plan. It's often the most cost-effective type of commercial insurance for a Tennessee business.

BEST FOR
  • Slip-and-fall injuries
  • Damaged customer property
  • Damaged business property
Workers’ compensation insurance icon

Workers’ compensation insurance

Workers’ comp insurance is required for Tennessee businesses that have five or more employees. It also protects sole proprietors from work injury costs that health insurance might deny.

BEST FOR
  • Employee medical expenses
  • Disability benefits
  • Legal fees from employee injuries
Commercial auto insurance icon

Commercial auto insurance

This policy is required for business-owned vehicles in Tennessee. It covers injuries and property damage in an accident, along with vehicle theft, vandalism, and weather damage.

BEST FOR
  • Accidents involving business vehicles
  • Theft of a commercial vehicle
  • Damage to a company vehicle
Looking for different coverage? See more policies.

Tennessee business insurance requirements

State laws affect which business insurance coverage you need. These policies are required everywhere in Tennessee, from Knoxville to Chattanooga.

Blue check mark

Workers' compensation insurance

The state of Tennessee requires businesses with five or more employees, full-time or part-time, to carry workers’ compensation insurance. Corporate officers are included in this headcount, even if they are ultimately excluded from coverage in your policy. Every business in the construction or coal mining industry must carry workers' compensation insurance, regardless of the number of employees.

Workers' comp covers medical costs for work-related injuries and illnesses, and provides disability benefits to injured Tennessee workers. It also protects employers from liability in the event of a workplace injury.

Blue check mark

Commercial auto insurance

All vehicles with a commercial plate in Tennessee must be covered by commercial auto insurance. This policy covers the cost of accidents involving work vehicles.

Tennessee's minimum requirements for auto liability insurance are:

  • $25,000 bodily injury liability per person
  • $50,000 bodily injury liability per accident
  • $15,000 property damage liability per accident

Trucking companies may need additional coverage to comply with regulations.

Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance (HNOA), as personal auto policies usually exclude business use. It can be added to commercial general liability insurance or a business owner's policy (BOP).

How much does small business insurance cost?

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Commercial insurance can be affordable for Tennessee small business owners. Factors that affect the premiums include:

  • Type of business and its risks
  • Business operations and location
  • Number of employees
  • Types of insurance purchased
  • Policy limits and other coverage options
View Small Business Insurance Costs
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Find the right policies and get your certificate of insurance

Insureon's licensed agents can help you find policies that fulfill Tennessee's requirements and your business insurance needs. Once you've purchased insurance with us, you can download a certificate of insurance by logging into your account.

In Tennessee, insurance agencies, agents, and brokers are licensed by the Department of Commerce & Insurance. Insureon is licensed in Tennessee as BIN Insurance Holdings LLC (NPN 15752926) for property and casualty insurance (license number 2008453). Verify our licensure with the National Association of Insurance Commissioners: select Tennessee, licensee, business entity, and then enter our NPN or license number.

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