Starting a business in Greeneville or East Tennessee is exciting. But before you open your doors, make sure you have the right insurance in place. Here are the four essential coverages every new business needs.
1. General Liability Insurance
This is the foundation of any business insurance program. General liability protects you if a customer is injured on your property, if your product causes harm, or if you are accused of advertising injury. Most commercial leases and contracts require it.
2. Commercial Property Insurance
Whether you own or lease your space, commercial property insurance covers your building, equipment, inventory, and furniture against fire, theft, storms, and other covered perils. Even home-based businesses should protect their business equipment.
3. Workers Compensation Insurance
Tennessee requires workers compensation for most businesses with five or more employees. It covers medical bills and lost wages when an employee is injured on the job. Even if not legally required, it protects you from expensive lawsuits.
4. Commercial Auto Insurance
If you or your employees drive for business purposes, personal auto insurance will not cover an accident that happens during work. A pizza delivery, a client meeting across town, or hauling supplies all require commercial auto coverage.
Bonus: Business Owners Policy (BOP)
For many small businesses, a Business Owners Policy bundles general liability and commercial property into one affordable package. It is often the most cost-effective way to get started.
Get Started
Every business is different. Call Vallie Insurance for a free business insurance consultation and we will put together a program tailored to your specific needs.