When you run an operation, there are several exposures you'll have to take into account to protect your livelihood. Every entity will need coverage for all the what-ifs. Tennessee business insurance can include limits for your LLC.

A Tennessee independent insurance agent will help find policies through their network of carriers. They work with several companies so that you get the best rates around. Connect with a local expert for custom quotes in minutes. 

What Is LLC Insurance?

Coverage for your LLC in Tennessee is just like every other business that you can insure. LLC insurance will depend on what industry you are in and how risky your operation is. Check out some common coverage choices for an LLC below:

• General liability
• Business property
• Business inventory
• Business equipment breakdown
• Commercial umbrella liability
• Business auto

Number of small businesses in the US in 2017, by industry (in thousands)

It's key to understand how many different small businesses in each industry are out there. If you have an LLC, you could fall under any number of business types. 

What Does LLC Insurance Cover in Tennessee?

Tennessee has approximately 603,310 small businesses in operation. If you run an LLC, you could need a variety of coverages, depending on what you're doing. Let's look at standard LLC insurance options:

• Coverage for claims of bodily injury or property damage
• Coverage for your business inventory such as products
• Coverage for business equipment that breaks down due to a covered loss
• Coverage for employees who are injured or become ill on the job
• Coverage for commercial vehicles used to operate the business
• Coverage for disgruntled employees that sue due to discrimination or harassment

Your Tennessee LLC policies are likely to come with protection against these perils automatically:

• Fire
• Natural disasters
• Theft
• Vandalism
• Water damage (not from a direct flood loss)

How Much Does LLC Insurance Cost in Tennessee?

The cost of your commercial insurance policies will vary from entity to entity, but the way carriers determine your premiums is the same for an LLC. In Tennessee, $6,317,565,000 in commercial insurance claims were paid in 2019 alone. Take a look at the information companies use when quoting:

• Loss history
• Replacement cost values
• Insurance score
• Experience level
• Local crime rate
• Local weather patterns

Number of small businesses in the US from 1988 to 2017

The number of small businesses in existence shows that the US is still a place where people live the American dream. If you own an LLC, you'll be part of that figure.

How Many of My Assets Are Covered under Tennessee LLC Insurance?

If you own commercial property in Tennessee, your LLC insurance can help protect your assets. From structures to business equipment, your property policy will have you covered. A licensed agent can help set a limit for each item, so coverage is sufficient. The amount that you'll have coverage up to will depend on what your property is worth and how much insurance you purchase.

Will My Tennessee Location Impact My Rates?

Where you set up shop will affect your insurance premiums. Carriers look at location factors such as crime rates, weather, and flood zones when calculating costs. If you're in a high-risk area, you could wind up paying top dollar for property and liability protection. 

How an Independent Insurance Agent Can Help in Tennessee

If you own and operate an LLC in Tennessee, you'll have several coverages to choose from, and it can be challenging to know what's necessary. To avoid financial risk, consider using a trained professional. They'll review your insurance for free so that you're protected accurately.

Fortunately, a Tennessee independent insurance agent can help with policy and premium options that won't break the bank. They do the shopping for you at no additional cost, making it a no-brainer. Connect with a local expert on TrustedChoice to get started today.