Brentwood Business Insurance

Your Complete Guide to Brentwood, TN Business Insurance

Find the right business insurance policy for you.

There are nearly 6,300 businesses operating in Brentwood, Tennessee. Businesses in Brentwood represent a wide variety of industries, including health care, finance, and professional services. Insurance is one of the best ways for businesses of all sizes to protect themselves from things that are out of their control. Business insurance consists of a variety of individual policies and policy endorsements that can be customized to your unique needs. A local independent insurance agent can help you assess your risks, compare policies and quotes, and make an informed decision.

Liability Insurance for Small Businesses in Brentwood, TN

Lawsuits against businesses are common. From simple trips and falls to illnesses caused by tainted food or severe injuries caused by faulty products, if someone accuses you of negligence, the costs to defend yourself and pay the injured party can be devastating. Businesses need liability insurance to protect them from the financial losses associated with lawsuits. Commercial general liability (CGL) insurance provides coverage for third-party bodily injury and property damage claims. It pays for court costs and legal fees if you are sued (even if the suit is unfounded, you have to defend yourself), as well as any settlements or judgments that you must pay. 

It also pays for medical expenses for injured parties and provides coverage if you are accused of advertising liability, slander, or libel. Not every kind of liability risk is covered by a CGL policy. Additional types of commercial liability policies are available for many of these scenarios. Talk to your independent insurance agent about why you might need commercial auto liability insurance, environmental liability insurance, or professional liability insurance to appropriately protect your assets from lawsuits. 

Cyber Liability Insurance for Brentwood Businesses

Sensitive data can be breached in many ways, from stolen laptops and other portable devices to rogue employees, theft of digital assets, human error, and more. Your standard business liability insurance might not protect you in many of these situations.

  • Number of identity theft complaints in Tennessee per year: 4,993
  • Ranked 24th highest for identity theft complaints in the US
  • Only 22% of businesses have a cyber/data breach response plan

If you are the victim of a cybercrime, you will likely need to notify your customers and business partners of the breach, provide them with credit monitoring services, and undertake extensive public relations activities on your own behalf. What’s more, if you’re sued, you’ll have to pay for your defense and any court-ordered settlements or judgments for injured parties. Cyber liability insurance protects your business assets by paying many of the costs associated with a cyber breach, as well as any court costs or settlements if you are sued. Be sure to ask an independent insurance agent to help you assess your cyber risks and your need for cyber liability coverage. 

Property Insurance for Small Businesses in Brentwood, TN 

Severe storms, flooding, and even occasional tornadoes can cause extensive damage to your Brentwood commercial property.

  • Number of federally declared disasters in Tennessee since 1953: 69
  • Most common reasons for declared disasters in Tennessee: Severe Storms and Floods

Commercial property insurance covers your company’s physical assets, including buildings and office space, merchandise, inventory, tools, machinery, computers, office furnishings, and more when physical damage occurs. Your business property policy covers fires, severe weather, theft, vandalism, and more. An independent insurance agent can help you determine if you need more than just a basic commercial property policy. If you live in an area that is prone to flooding, you are likely to need flood insurance designed for businesses. Flood insurance is available from the National Flood Insurance Program (NFIP), and your local agent can help you purchase coverage.

Business Interruption Insurance for Brentwood Businesses

Sometimes, unexpected events can damage your building, your suppliers’ buildings, local utilities, or other structures that are essential to operating your business. A tornado, a fire, or even a break-in can leave you unable to operate for some time while you repair or rebuild your commercial property. 

Business interruption coverage, or business income coverage, protects your earnings if your business is unable to operate because of damage after a covered event. If you are forced to close your doors for an extended period in order to make repairs, this coverage pays for rent, employee salaries, lost income, relocation fees, and more. An independent insurance agent in Brentwood can help you assess your risks and get the coverage you need. 

Workers’ Compensation Insurance for Brentwood, Tennessee Businesses

Most Tennessee employers are required to purchase insurance coverage that compensates workers who are injured on the job. Workers’ compensation insurance pays for medical care and lost wages for the injured worker and protects employers from being sued for further damages. Workers’ compensation insurance is compulsory in Tennessee; employers are required to provide workers’ compensation insurance for their employees. It may be provided through a private insurance carrier, or employers may self-insure. 

Employers with fewer than five employees are exempt from Tennessee workers’ compensation laws, except for employers in the construction industry. Agricultural employers in Tennessee may elect to provide workers’ compensation coverage for their workers, but the statutes do not require them to do so. Likewise, employers may choose—but are not required—to provide workers’ compensation for domestic employees. A local agent can work closely with you to help you understand how the laws affect you and to help you find an appropriate Tennessee workers’ compensation policy. 

Employee Benefits for Small Businesses in Tennessee

Employee benefits are an essential part of any business insurance program. Health insurance, life insurance, and wellness programs don’t specifically cover any physical assets or protect against lawsuits, but they do play an important role in ensuring that you have a healthy, satisfied, and top-quality workforce. 

  • Average amount spent per year on healthcare coverage by Tennessee businesses: $808,055
  • Ranked 25th for highest health insurance premium spending in the US
  • Average annual cost of healthcare coverage in Tennessee: $5,198/person or $15,214/family

There are many different employee benefits programs for you to choose from, as well as numerous laws and regulations that you must comply with. 

Why Work with an Independent Agent? 

There are many business insurance products and options available to protect your Brentwood business. You probably have a lot of questions, and a local independent insurance agent can help. An independent agent can work with insurance companies that specialize in the type of work you do. And your agent can help you assess your risks and get quotes from multiple, highly rated insurance companies. 

Find an agent in or near Brentwood to get started. 

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