Small companies have several risks associated with day-to-day operations. Proper protection is necessary to insure your livelihood. Tennessee business insurance can come in handy when you run a gift shop.

Fortunately, a Tennessee independent insurance agent can help with coverage and rates that fit your budget. They do the shopping for you at no additional cost. Connect with a local expert for custom quotes. 

What Is Gift Shop Insurance?

Gift shop insurance in Tennessee can come in many forms. To obtain proper insurance for all the what-ifs, you'll need to cover your exposures. Check out standard coverage choices for gift shops below:

• General liability
• Commercial umbrella liability
• Workers' compensation
• Business auto
• Employment practices liability
• Business property

There are a lot of small businesses owned all over the US. When you operate a gift shop, you're part of the backbone of America. 

The number of small businesses in the US

When it comes to insuring your Tennessee business, there are some things you need to know. The right coverage can make or break your company. 

What Does Gift Shop Insurance Cover in Tennessee?

There is a variety of coverage choices when it comes to insuring your Tennessee gift shop. The most common perils come standard on your policies. Take a look at what's usually included in your coverage:

• Fire
• Natural disasters
• Theft
• Vandalism
• Water damage (not from a direct flood loss)

There are many losses that can occur at your Tennessee gift shop. Most will be protected under your primary policies. Check out what's covered below:

• Coverage for bodily injury or property damage claims
• Coverage for your business inventory such as products
• Coverage for business equipment that breaks down due to a covered loss
• Coverage for employees who are injured or become ill on the job
• Coverage for commercial vehicles used to operate the business
• Coverage for disgruntled employees that sue due to discrimination or harassment

How Much Is Gift Shop Insurance in Tennessee?

From commercial auto to general liability, each premium will be unique. The cost of your Tennessee gift shop insurance will depend on your risk factors. Take a look at the information companies look at when quoting:

• Loss history
• Experience level
• Type of gift shop
• Location
• Local crime rate
• Local weather patterns

Is Theft Covered with Tennessee Gift Shop Insurance?

If you own a Tennessee gift shop, your primary policies will provide coverage for theft and vandalism. This includes your structures and your property. 

The local crime rate will impact the cost of your commercial insurance in Tennessee. Speak with your local adviser to see how your premiums will be affected. 

Will My Location Impact My Rates in Tennessee?

In Tennessee,  $6,317,565,000 in commercial insurance claims were paid in 2019 alone. When you have a claim, where your property is located can impact your costs. Take a look at what could affect your rates based on your territory:

• Local crime rate
• Local natural disasters reported
• Local claims reported by other insureds
• Flood zone assigned

No matter where you're located, it's important to anticipate what lies ahead. While you can't tell the future, you can pay attention to trends.

The monthly small business outlook 

When you own a small business in Tennessee, there are a lot of risks. There can also be a ton of rewards. 

How an Independent Insurance Agent Can Help in Tennessee

Tennessee business insurance is critical to being adequately protected. When you don't have the right coverage, you could be opening yourself up to thousands of dollars in out-of-pocket expenses. Gift shop insurance can help your operation run smoothly. 

A Tennessee independent insurance agent has access to multiple carriers, giving you options. Since they do the shopping for free, you won't have to worry about unexpected fees. Connect with a local expert on TrustedChoice to start saving today.