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A Comprehensive Guide to Commercial Insurance in Tennessee

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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! 

Using Home Insurance As Peace of Mind

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Home insurance is not required by law in Memphis, TN. Still, having a policy in place may be necessary if you want to get financing for your home. In addition to covering the mortgage you have on your house, home insurance provisions in your policy are there to protect your possessions.

Some people choose to keep home insurance on their home even after paying off any mortgages and loans tied to the house and its equity. Other people choose to forego the ongoing cost of home insurance in an attempt to save money by getting rid of monthly premiums. It’s important to remember, though, home insurance provides peace of mind in numerous ways.

Why Home Insurance?

1. Property Liability

Homeowners liability insurance will pay for medical expenses and other costs if a guest gets injured on your property, such as falling on a sidewalk. If required, the rising cost of defending yourself in court will also be covered by insurance. 

2. Expenses 

If something happens to your house, such as it burns down or a tree falls on it, you’ll need a temporary place to reside until the home is repaired or rebuilt. With home insurance, your policy will help cover the cost of finding temporary housing and residing away from home until construction and repairs are finished. 

3. Personal Possessions

A home insurance policy provides great peace of mind by covering the cost of your personal possessions in a number of scenarios. Such situations include those in which your home is destroyed or burglarized. In many home insurance policies, there is a clause that outlines how damage to a home is covered, even if it’s a result of pet damage. 

We Are Here To Help

If you’d like to learn more about home insurance and how it provides peace of mind, contact P3 Insurance Solutions serving the Memphis, TN area today. 

Will My Auto Insurance Policy Cover Me When Driving Out of State?

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One of the questions that we at P3 Insurance Solutions, providing auto insurance to residents in the greater Memphis, TN area, are often asked is whether an auto insurance policy will cover a driver who may be driving out of state. We are happy to provide you with the answers. 

Will My Auto Insurance Policy Cover Me When Driving Out of State? 

Your auto insurance policy will cover you when you are traveling in or through any state within the United States, regardless of what state your policy originates from. This includes traveling for vacation, road trips, visiting family, or traveling to another state for work or school. It is important to note though, that your insurance company can decline coverage in another state if you moved to another state and did not change your policy to the new state you live in within the required timeframe. 

What If My Policy Is Less Than State Minimum Insurance in Other States? 

Different states have different minimum insurance requirements. If you have minimum insurance in one state, and you are traveling through a state that has a higher minimum insurance requirement, your policy will still cover you, and essentially automatically increases to meet the minimum requirement in other states you may be traveling in or through. 

Reach Out To Us

Auto accidents can happen if you are driving in your own state or if you are on a road trip and traveling in another state. Luckily, your auto insurance will cover you when you are driving within the United States. If you have any other questions about auto insurance or are looking for a new policy in Memphis. TN, P3 Insurance Solutions would love to help you out. Call or email us now to get started.    

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