Does my Small Business Need Liability Insurance?
Anyone who runs a small business can tell you that success requires putting a lot of yourself into your business—your time, money, ingenuity, and more. For a small business owner, it’s important that you protect what you’ve built with the right small business insurance.
At Farm Bureau Insurance of Tennessee, we are dedicated to providing Tennessee business insurance solutions tailored to your business’s unique needs. One type of coverage you may consider is business liability insurance.
In this blog, we’ll discuss:
What is business liability insurance
Why you need business liability insurance
If business liability coverage is required in Tennessee
How much business liability coverage you need for your business
What is business liability insurance?
When it comes to small business insurance, think of business liability coverage as your shield against legal issues that could impact your business and your finances. It covers claims-related injuries and damages that may occur on your business property or because of your business operations, such as:
Bodily injury, like a customer who slips and falls on your property or claims to have been injured by your product
Property damage to third parties
Why do I need business liability insurance?
Business liability insurance can help cover claims and your defense costs if your business is found legally liable for injuring someone or damaging someone’s property. It helps protect your business from the financial impacts of these lawsuits—and helps make sure that your personal assets aren’t impacted either.
Is business liability insurance required in Tennessee?
Business liability insurance is not legally required in Tennessee. That said, at Farm Bureau Insurance of Tennessee, we highly recommend protecting your hard-earned success. The consequences of not having business liability insurance can be costly, including legal fees and settlements. By having small business insurance with liability coverage, you protect your financial stability, your credibility as a business, and your peace of mind, so you can focus on your business’s growth and continued success.
How much business liability coverage do I need?
At Farm Bureau Insurance of Tennessee, we understand that every small business has diverse needs. One of our experienced local agents can work with you to create tailored Tennessee business insurance coverage that provides protection suited to your industry and business.
To learn more about Farm Bureau Insurance of Tennessee’s business liability coverage or to discuss your current policy, reach out to your local agent today.
