Business & Commercial Insurance
Business & Commercial Insurance Quote Forms
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Business & Commercial Insurance Information
Building a business requires a lot of time and effort, and you should want to protect those investments. One way to protect everything you’ve worked for is by ensuring you have adequate insurance policies in place. Business insurance, also known as commercial insurance, will help safeguard what you worked so hard to build.
What Does Business Insurance Cover?
A far-reaching business insurance portfolio comprises numerous policies that cover different aspects of your operation and provide a strong foundation of coverage. These policies include the following:
- Property insurance helps cover repairing or replacing damaged property, such as the building and possessions.
- General liability insurance helps cover the business if it causes property damage or bodily injuries to another party, such as a client or vendor.
- Business interruption insurance helps you pay the bills if you must temporarily close after a covered incident.
- Commercial auto insurance helps provide coverage for accidents involving a company-owned vehicle.
- Workers’ compensation insurance helps cover medical costs and lost wages for employees due to a work-related injury or illness.
- Errors & omissions insurance helps compensate a third party if professional advice or mistakes results in financial losses.
- Surety bonds help repay a client if your business can no longer complete a service contract.
To further customize your benefits to your advantage, consider investing in the following:
- Employment practices liability insurance
- Products/completed operations liability insurance
- Cyber liability insurance
- Umbrella liability insurance
- Hired/nonowned auto liability coverage
What Business Insurance Is Required by Law?
Every state has different laws regarding business insurance but most legally require workers’ compensation. The Tennessee Workers’ Compensation Act states that the following types of companies are required to have workers’ compensation:
- All employers in the construction industry or trades that have one or more employees
- All employers in other sectors that have five or more employees
- Employers in the coal mining industry if they have at least one employee
Please note that Tennessee state laws are subject to change. Be sure to work with FSB Insurance to determine what insurance solutions you may be legally required to provide.
How Much Is Business Insurance for an LLC?
Many factors affect business insurance costs for businesses, including an LLC. Some of these factors may involve the following:
- Industry or type of business
FSB Insurance can review the factors that affect how much business insurance may cost your business.
Business Insurance Quote in Jackson, TN
If you are interested in learning more about business insurance or getting an accurate quote, contact the professionals at FSB Insurance. We are an independent insurance agency serving the needs of businesses in west and middle Tennessee.