Commercial Insurance Tennessee
Business Owners Insurance in Tennessee
A business owner’s insurance policy, regularly called BOP, is an all-encompassing insurance package for small businesses consisting of numerous coverages in one policy. Property insurance and general liability are the two main coverages in a BOP. Not only are legal liabilities covered under business owners insurance in Tennessee, but so are the Tennesse buildings and business equipment. A huge benefit of business owners insurance is that it removes the risk from the business owner, only to place it on the insurance company. The usual claims that a BOP protects you from include things like income loss, employee dishonesty, equipment breakdown, as well as valuable papers and property claim. Personal injury, professional liability, and damages related to fire are also covered. Depending on the different risks an Tennessee small business owner might encounter, supplementary components may be deemed appropriate to add.
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General Liability Insurance
Normally, it is difficult for businesses or general contractors to work without general insurance. General liability insurance is intended to guard operators and owners of companies against claims that may come from a broad spectrum of sources. These exposures could be just about anything, including liability engendered by accidents from the operations of the insured party, contractual liability, products manufactured by the insured party, etc.
The liability you select, whether it is one, two, or three million dollars, determines the cost of general liability insurance. Also factored into the rates are the kind of work undertaken, gross receipts and total payroll expenses. Similar to auto insurance, when it comes to general liability insurance, you will first have to make a down payment and then follow it up with installments. Before buying general liability insurance, it is best to compare the quotes available in the market.
It is the business owner’s or general contractor’s job to make sure that the people working under him/her are covered by an insurance policy. If for example, a person who is not a part of the project gets injured, the injured person’s lawyer can target just about anyone involved in the project. The more individuals that are involved, the greater the chances of a successful lawsuit.
Commercial & Business Insurance Products
- General Liability Insurance – Broad insurance coverage for your business and activities
- Commercial Property Insurance – Protect your business with insurance for your commercial property
- Business Auto Insurance – Cover your business with insurance for commercial vehicles
- Commercial Umbrella Insurance – Insurance coverage that helps protect your business from the rising costs of lawsuits
- Workers Compensation Insurance – Insurance coverage that helps you take care of your employees
- Bonds – Protect your assets with financial backups for promises made by others
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