Chattanooga,
4525 Hixson Pike
Hixson, TN 37343
(423) 296-0626

A Guide to Commercial Insurance Policies June 22, 2020

Chattanooga, Hamilton County
A Guide to Commercial Insurance Policies, ,

Owning a business doesn’t come without the occasional risk. Commercial insurance protects your assets and property from potential lawsuits, theft, property damage and vandalism, loss of income, and employee injuries or illnesses. Below, learn about the different types of policies available and why they might be beneficial to your company.

General Liability Commercial Insurance

If your business is open to the public, handles work off-site, or uses advertising, you should have a general liability commercial insurance policy. This will protect against third-party bodily injury, third-party property damage, or advertising injury claims. It will cover the costs for these claims, as well as administrative costs and any resulting court costs and settlements. 

Commercial Property Insurance

commercial insuranceIt is very difficult for a company to bounce back on its own after a natural disaster. Commercial property insurance protects the physical business location and assets from fires, explosions, storms, theft, vandalism, and burst pipes. Typically, a separate policy is needed to cover flood and earthquake damage and is recommended for businesses located in areas prone to these events. 

Generally, this policy will pay for damage done to the actual property as well as to any assets required for the business to function, such as tools, computers, inventory, and important documents. It can also help to cover any lost income if the business is unable to open while repairs are being made. 

Commercial Auto Insurance

If driving a vehicle constitutes your work or your workers’ jobs, you’ll need commercial auto insurance to protect the business in the event of an accident or if the vehicle is stolen, vandalized, or damaged in some other way. This policy will cover damage caused by the vehicle, any medical bills related to accidents, collision repairs, losses caused by theft or damage, and damage caused by uninsured drivers. 

This insurance only covers vehicles used solely for business purposes, not personal cars. If you have employees using their personal vehicles for job-related business, look into hired and non-owned auto insurance, which will cover legal costs in the event of an accident. 

Workers’ Compensation

In Tennessee, all construction businesses and trades with one or more employees, and all other types of businesses with five or more employees, are required to have workers’ compensation insurance. This provides them with medical treatment and wage replacement benefits in the event of an on-the-job injury or illness. It also provides the employee’s family with their benefits if they lose their life in a workplace accident. 


When you need the right commercial insurance package for your business, turn to Southern Insurance Associates in Hixson, TN. This insurance agency represents over 70 quality carriers and is able to custom design programs that meet the unique needs of home and business owners in the area. Visit their website to learn more about their commercial policy options, and call them today at (423) 296-0626 to receive a quote. 

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