Johnson City Business Insurance

Your Complete Guide to Johnson City, TN Business Insurance

Find the right business insurance policy for you.

The state of Tennessee is home to more than 550,000 businesses. In Johnson City, nearly 5,350 businesses represent a variety of industries including health care, hospitality, and construction. Unforeseen events involving your Johnson City business can threaten your livelihood at any time if you do not have the right business insurance. Working closely with an independent insurance agent, you can determine exactly what risks you have and find tailored business insurance policies to cover them. 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 Johnson City, TN

Lawsuits against businesses are common. Whether a customer trips and falls in a single-location store or a food manufacturer is responsible for making hundreds ill with tainted products, negligence claims can quickly destroy a business. That’s why all businesses need liability insurance. A commercial general liability (CGL) policy offers broad protection from lawsuits. It covers the injured party’s medical expenses as well as any property damage that you are responsible for. 

And it covers court costs, attorney fees, and even settlements or judgments that you must pay to injured parties. Not every kind of liability risk is covered by a CGL policy. There are additional types of commercial liability policies available for many of these scenarios. Talk to your independent insurance agent about why you might need the following types of liability protection:

  • Commercial auto liability insurance is necessary if your business owns and operates any vehicles. It covers your vehicle fleet and drivers if an employee causes an accident while driving an employer-owned vehicle.
  • Environmental liability insurance, or pollution liability coverage, protects companies from the costs associated with damage caused by improperly disposing of hazardous waste or causing environmental harm.
  • Employment practices liability insurance covers your business against accusations of harassment, discrimination, wrongful termination, or other illegal business practices.
  • Professional liability insurance covers lawsuits arising from rendering negligent professional services or failing to perform professional duties. It is often recommended for people in professional positions, such as lawyers, accountants, architects, and IT professionals, but it is becoming more common for a variety of business types.

An independent insurance agent can help you determine which commercial liability products are right for your Johnson City business.

Cyber Liability Insurance for Johnson City Businesses

Cyber liability insurance is a separate liability insurance policy or a policy rider that is designed to protect companies against the increasing threat of cybercrime. Almost every business has at least some cyber risk exposure, and most are in more danger of cybercrime than they realize. 

  • 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

Cyber liability insurance protects your business assets by paying for many of the costs related to a cyber breach and any resulting legal action against you. Be sure to ask an independent insurance agent about how cyber liability insurance can help you protect your business. 

Property Insurance for Small Businesses in Johnson City, NJ

Severe storms and floods are a serious threat to commercial property in Tennessee.

  • 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 is the coverage you need to reimburse you for damage to your physical assets. It pays for repairing and replacing buildings and office space, merchandise, inventory, tools, machinery, computers, office furnishings, and more when they are damaged by some type of covered event. An independent insurance agent can help you determine if you need more than just a basic commercial property policy. 

Some businesses have specialized machinery or equipment that needs additional coverage. And if you have tools, equipment, or other materials stored at job sites or in transit, you may also need additional coverage to protect those assets. Be sure to talk to your agent about the appropriate coverage limits for your unique business, so you can make repairs or rebuild without taking a major financial hit. 

Business Interruption Insurance for Johnson City, TN Businesses

Property damage can be far more devastating than you ever imagined. If your commercial property is damaged or destroyed, you may also be forced to close your doors for weeks or longer while you make repairs, rebuild, or relocate. Without a consistent revenue stream, small businesses especially may find themselves failing to pay fixed expenses, defaulting on loans, and facing bankruptcy. Business interruption insurance provides income continuation if you must close temporarily because of property damage caused by a covered event. You can continue to pay expenses like loan payments and employee salaries until you resume normal operations.  

Workers’ Compensation Insurance for Johnson City, TN Businesses

Workers’ compensation insurance provides coverage when accidents happen at work, ensuring medical care and income protection for injured workers. Good workers’ compensation insurance is more than just another expense—it's an affordable means of protecting both you and your employees. Employees receive the peace of mind of knowing that they can recover from an injury without the additional emotional and financial stress of fighting their employer for help with medical bills and lost wages. And business owners can significantly reduce the likelihood that an injured employee will sue for damages. 

Employers in Tennessee 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 to domestic employees. A local insurance 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 Johnson City, TN

Employee benefits can help you attract and retain top employees, and they are a huge but essential expense for any business. In order to make the best decisions about what kind of health insurance, life insurance, and other benefits are best for your unique employee population, it’s best to work with a knowledgeable independent insurance agent.  

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

A local independent insurance agent can help you find suitable coverage at a competitive price. 

Why Work with an Independent Agent? 

There are many business insurance products and options available to protect your Johnson City 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. 

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