Tennessee Business Insurance

Customized protection for your Tennessee business

As a Tennessee small business owner, you should consider several types of business insurance for financial and legal reasons. Customer slips and falls, commercial property damage and employee illness are just a few of the many incidents that can result in lawsuits and expensive recovery costs.

In 2022, Tennessee reported 67,300 non-fatal workplace injuries with over 82% of them from private sector businesses, according to the Bureau of Labor Statistics. Employees missing work, even for a short amount of time, can cause your business operations to suffer and threaten your cashflow.

Shop for business insurance through the Progressive Advantage® Business Program. We can help you customize a Tennessee business insurance policy that fits your unique needs.

Types of TN business insurance

General Liability

This is the most common business insurance coverage, and nearly all businesses in Tennessee should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.

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Commercial Auto

This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. Your personal auto policy doesn’t cover vehicles while they’re being used for business reasons.

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Workers' Compensation

Tennessee employers with five or more employees are required to have workers' comp insurance. Workers’ compensation insurance helps pay for expenses related to employees becoming injured or ill while working for you.

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Business Owners Policy (BOP)

A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property, such as a storefront, warehouse or office building.

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Professional Liability

Tennessee businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).

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Cyber Insurance

This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.

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How much does business insurance cost in Tennessee?

The cost of business insurance in Tennessee depends on a variety of rating factors, including a business’s location, size and coverage needs. For example, a business located in Nashville can expect a different rate than one in Chattanooga, or a business that has employees might pay more than one that doesn’t.

The most influential factor, however, is your profession. Each industry is exposed to unique risks, which causes their rates to differ. High-risk professions, like roofing contractors and tree trimmers, usually need a specialized coverage called excess and surplus that is typically more expensive.

Learn more about the factors that influence your cost, or get a free online quote to find out your rate.

Tennessee business insurance requirements

Tennessee requires most businesses to carry workers’ compensation if they have five or more employees. However, employers in the construction and coal mining industries must get coverage if they have at least one employee.

Other business insurance coverages, like professional liability and general liability, aren’t required by Tennessee law, but you probably should have some coverage to protect against unexpected accidents. It’s common for a prospective client to require these coverages as part of a business contract.

Resources for Tennessee small business owners:

Tennessee Small Business Resources (TN.gov)
Workers’ Comp Information (TN Department of Labor & Workforce Development)
2023 Tennessee Small Business Profile (U.S. Small Business Administration)
2018 Tennessee Workplace Injury Data (U.S. Bureau of Labor Statistics)

Tennessee professions we insure

We help small business owners from a wide variety of industries, including these common professions:

Browse more examples of professions we insure.

Why choose Progressive?

Options

We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to make sure you’re getting protection that meets both your needs and budget.
Experts

As the #1 commercial auto insurer in America^*, you can trust us with all your business insurance needs. Our team of specially trained, in-house agents can assist you every step of the way to make sure you’re getting the best coverage for your business.
Convenience

There are several ways to get a quote, whether you need a single Tennessee policy or a combination of business insurance coverages. Simply start a quote online or call us to speak with an agent.