Commercial Insurance

As a Tennessee small business owner, you need General Liability coverage to protect yourself from lawsuits and from damages that may arise from the services you provide. In addition, we’ll cover all your tools and equipment for theft or damage. At Johnston & Associates, our business package rates are among the lowest in the state of Tennessee.

Ask us about our specialized insurance programs for daycare centers, preschools, restaurants, churches, salons and dry cleaners. These programs are uniquely designed to cover the needs of your specific industry and provide broad coverages and first-class protection with competitive premiums.
Business Owners Policy

The most common policy for small businesses is the Businessowners Policy (BOP), which includes coverage for all major property and liability insurance risks as well as many additional coverages into one package policy suitable for most small businesses.

The BOP includes business income insurance, sometimes called business interruption insurance. This compensates a business owner for income lost following a disaster. Disasters typically disrupt operations and may force a business to vacate its premises. Business income insurance also covers the extra expense that may be incurred if a business must operate out of a temporary location.

To cover specific risks associated with a business, a variety of additional coverages may be added to the basic BOP. For example, if a business has an outdoor sign, the BOP doesn’t cover it unless coverage is specifically added for an additional premium. If a business relies on electronic commerce, the owner can add coverage for lost income and extra expenses in the event the ability of the business to conduct e-commerce is slowed down or stopped due to a computer virus or hacker.

Only small- to medium-sized businesses that meet certain criteria are eligible for a BOP. Factors insurers consider include the size of the premises, the required limits of liability, the type of business and the extent of offsite activity. Premiums for BOP policies are based on those factors plus business location, financial stability, building construction, security features and fire hazards.

What types of Commercial Insurance coverage does my business need?

Most small businesses need to purchase at least the following four types of insurance:

• Property Insurance
• Liability Insurance
• Commercial Auto Insurance
• Workers Compensation Insurance

Other types of coverages for businesses include:

• Errors and Omissions Insurance/Professional Liability
• Employment Practices Liability Insurance
• Directors and Officers Liability Insurance
• Key Employee Insurance
• Umbrella Polices

What types of Commercial Insurance coverages do you offer?

Johnston & Associates Insurance provides the following types of business insurance protection:

In Commercial Insurance, are there policies that provide or combine the various kinds of coverages like a Homeowners Insurance policy does with Personal Insurance?

Yes, there are various “package” policies available. Programs such as the Business Owners Package (BOP), Special Multi-Peril (SMP) and insurance company designed packages are constantly being marketed. Many insurers design packages to meet specialized needs, such as auto garages, auto dealers, jewelers, furriers, barbers and beauty salons, and apartment buildings.