Skip to content
Click to Call
P3 Insurance Solutions

8295 Tournament Dr, Suite 150
Memphis, TN 38125

Get Directions

The Future of Commercial Insurance

The Changing Landscape of Commercial Insurance: Be Prepared

Crafting a sound commercial insurance strategy is vital to running a business. Many commercial business owners understand the importance of procuring commercial auto insurance, property insurance, and worker’s compensation. However, with the dynamic nature of commercial insurance, business owners must stay informed about emerging trends and adapt accordingly. Based in Memphis, TN, and exploring the shifting landscape of commercial insurance, we offer insights to help you stay ahead of the curve.

Embracing Technology

As the future unfolds, an increasing number of insurance companies are harnessing technology to keep up with business owners’ growing demands. This includes employing artificial intelligence (AI) to deliver insurance quotes and using chatbots to facilitate customer support. Furthermore, some companies are leveraging AI to assist with risk assessments to determine their coverage scope. You can expect this trend to persist, with technology playing an ever-increasing role in enhancing efficiency.

Shifting Towards Customer-Centered Services

Today’s business owners have evolved beyond being satisfied with traditional, one-size-fits-all insurance policies. They seek tailored solutions that cater to their unique needs, and insurance companies are realizing the importance of shifting towards a more customer-centric approach. Companies strive to deliver prompt, professional responses and understand that businesses, irrespective of their scale, value the expertise and guidance professional insurance agents, like those at P3 Insurance Solutions, can offer. This makes business owners feel valued and understood, strengthening their trust in insurance providers.

Emergence of New Insurance Policies

As more businesses transition from traditional brick-and-mortar enterprises to remote work setups, the insurance landscape is bound to adapt and evolve. This trend often necessitates changes in insurance policies, and as companies increasingly turn to independent contractors, we may see a decrease in policies like workers’ compensation, resulting in cost savings for other businesses. Similarly, with the rise in cyber-attacks against businesses, insurance policies covering cyber threats will slowly become the norm.

Contact P3 Insurance Solutions for an Insurance Quote!

Staying current on the latest trends in commercial insurance ensures your policy remains up to date. Our professional insurance agents at P3 Insurance Solutions can always help you learn about changes in the industry and ensure all of your insurance needs are met. Contact us today to discuss the correct type of insurance for your business.

Commercial Insurance Oversights to Be Wary Of

Beware of commercial insurance oversights that could interfere with business operations. Once you have reviewed the tips, contact one of our P3 Insurance Solutions agents for guidance with updating your commercial insurance policy.

Use Value

How you use machinery and other types of equipment could influence your coverage needs. If you fail to assess each item, you will be insured and could choose a lower coverage amount than you need.

One way to ensure adequate coverage is to consider the use value of your commercial essentials in advance. The items you rely upon daily should receive more coverage than those you use less frequently.

Placement Errors

Placing your commercial essentials could affect whether you must file an insurance claim. Failing to put your items in secure areas without exposure could lead to weather-related damage, vandalism, and theft.

It is a good idea to map out where you will place items before purchasing insurance. Once you have everything set up, you can relay the placement details for your business equipment when you are ready to update your commercial insurance policy.

Add-On Omissions

Your business may offer unique services that could benefit from having insurance add-ons included in your policy. If you don’t research add-ons, you could discover later that your failure to have a specialized type of insurance coverage is hurting your business.

Check out all the insurance products available to you as a business owner. This will prevent you from overlooking any necessary coverage types.

Contact P3 Insurance Solutions

Contact one of our Memphis, TN agents to discuss your commercial insurance needs when convenient.

How a Business Owners Policy (BOP) Saves You Money

Financial Stability for Your Memphis, TN, Business with P3 Insurance Solutions

Securing your business in Memphis, TN, with commercial insurance is essential to ensure its financial stability. At P3 Insurance Solutions, we have a diverse range of commercial insurance policies, offering you the flexibility to curate your commercial coverage. We provide a business owners’ policy package (BOP) for qualifying small and medium-sized businesses. This package consolidates four key insurance policy coverages at a lower premium than if they were purchased individually. It serves as cornerstone insurance for a small or medium-sized business.

Greater Value with Business Owners Package (BOP)

The BOP saves companies a substantial amount of money on premiums. However, it entails meeting a certain set of qualifications. The BOP package includes liability coverage, property damage coverage, business interruption coverage, and specific peril coverage. This package provides your business with financial protection from potential lawsuits if deemed negligent. BOP also covers losses or damages to your business premises due to a peril named in the policy. It also covers other types of property damages, providing compensation for repairing or replacing your business site in the event of a fire or similar catastrophe, for instance. Business interruption coverage ensures you won’t lose money if damage from a covered peril forces a temporary closure.

Opt for a Package That Offers More for Your Business

For more information on qualifying for a BOP for your business, contact P3 Insurance Solutions, proudly serving Memphis, TN. You can save money on premiums and obtain the four most crucial types of coverage to safeguard your business by simply qualifying for a BOP.

Is Commercial Insurance Required for My At-Home Crafts Business?

If you live in Memphis, TN and you have an at-home crafts business, you’re probably excited about having your own home business. Working from home and running a crafts business can be fun and lucrative. With running any business, there comes a great deal of responsibility when it comes to managing finances, ensuring your business is registered, and more. Is commercial insurance required for your at-home crafts business you might be wondering? The answer is yes, you do need commercial insurance.

Here is an explanation of why:

In the Event You’re Ever Sued

All businesses are at risk of having lawsuits brought against them, and if someone were to file a lawsuit against you and win the case, you would be required to pay out of pocket. This could potentially be a substantial amount of money, which could possibly cause you to file for bankruptcy. Commercial insurance can give you peace of mind, knowing that you can file a claim against your insurance should a lawsuit ever be brought against you. 

To Provide Coverage in Case of Damage 

Since you can’t ever predict if your business-related materials, equipment, or supplies might become damaged, having commercial insurance is a necessity. By ensuring that you’re adequately covered, any business-related items can be replaced or repaired, if it ever becomes necessary. 

As you can see, it doesn’t matter whether your crafts business is from home or at an outside location. Commercial insurance is necessary in case of liability. If you’re obtaining quotes from various Memphis, TN insurance agencies, don’t forget about us at P3 Insurance Solutions. At P3 Insurance Solutions, we provide all types of insurance products, including commercial insurance. We have been in business for decades, and we pride ourselves on providing excellent customer service and offering fair rates. Call us today for a quote. 

Which Type of Commercial Policy Is Right for Your Business?

Do you own a business in the greater Memphis, TN area? If you have an established or new business, you might wonder which type of commercial policy is right for your needs. Fortunately, the team here at P3 Insurance Solutions is here to help. We’ll review the available options with you and help you get an appropriate policy to protect your needs.

Every Company’s Insurance Needs Are Different

Every company’s insurance needs are different. While there are many similarities, especially within certain industries, it’s best to find a policy that meets your firm’s specific needs. For example, businesses that are in the delivery business will need fleet coverage for their commercial vehicles. Other companies might need a significant amount of worker’s compensation protection.

Whatever coverage needs you might have, it’s important to work with a local agency that understands the community. Now is an ideal time to review your current insurance portfolio to determine that it meets all your needs. It’s also advisable to sit down with your agent at least once a year to go over any changes that may have occurred and update your policy as needed. The right insurance will help your company weather the ups and downs that come with owning a business.  

Comprehensive commercial policies are ideal for companies that want the peace of mind that comes with knowing they have the coverage they need to protect all their hard work and dedication.

Contact Us Today!

P3 Insurance Solutions is proud to serve the insurance needs of the Memphis, TN business community. If you’re starting a business or want to make sure that your established company has the appropriate coverage, we’re here to help. Contact our office today to schedule an appointment to learn more.

A Comprehensive Guide to Commercial Insurance in Tennessee

Successful Tennessee business owners know that having the right commercial insurance policy can make or break their business. 

Why You Need Commercial Insurance in Tennessee

Many Tennessee business owners aren’t aware that they can get insurance coverage that can protect them from financial damage claims if a customer is seriously injured on their property while doing business or if there is an extended period of a work stoppage due to natural disasters or emergency events. 

What Does Commercial Insurance Typically Cover?

Commercial insurance protects your business from unexpected financial losses that can occur while doing business.

Small business owners in Tennessee who have commercial insurance are protected from financial losses from personal injury claims, property damage claims, and other lawsuits that can arise in doing business. 

Below are examples of common commercial insurance coverage:

  1. Business Interruption Insurance – protects your business in the event of an unexpected shutdown. 
  2. Commercial Auto Insurance – protect your company’s car or fleet of vehicles with auto insurance for businesses. 
  3. Liability Insurance – get coverage from general liability claims and financial protection. 
  4. Property Insurance – protects your business finances from property insurance claims. 
  5. Workers Compensation – a form of commercial insurance that covers your business and employees in case of an accident on the job. 

An experienced insurance agent at P3 Insurance Solutions in Memphis, TN can talk to you about the best options for covering your business property, buildings, and intellectual property and answer other questions about how to buy commercial insurance. 

Get Affordable Commercial Insurance in Tennessee

If your business needs insurance, don’t wait for an unexpected event to derail your business financially. Instead, contact us at P3 Insurance Solutions in Memphis, TN and get a free quote for commercial insurance today! 

Partner Carriers


  • Allstate
  • American Modern
  • Encompass
  • Farmers/Foremost
  • Guard
  • Liberty Mutual
  • Nationwide
  • National General
  • Progressive
  • Safeco
  • State Auto
  • The Hartford
  • Travelers