Medical Practice Insurance Tennessee

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Get TN small business insurance quotes and info on costs, coverages, minimum requirements, certificates & more.

Types Of Small Business Insurance

  • Includes medical payments, legal representation, and defense against libel and slander accusations.
  • Bundles general liability insurance and commercial property into one affordable policy.
  • Provides financial protection if an employee has a job-related accident or illness.
  • Pays to repair or replace your business property if it's stolen, damaged, or destroyed in a fire or natural disaster.
  • Covers mistakes or alleged mistakes on your part (errors) & failures or alleged failures to perform a service (omissions).
  • Is liability and physical damage protection for vehicles, such as cars, trucks and vans, that are used for business.
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Frequently Asked Questions About Small Business Insurance


How much does general liability insurance cost?

In 2019, commercial general liability costs can vary widely based on industry. Businesses in higher risk industries pay more. Premiums are also determined by zip code and often payroll and/or gross sales. You can request a free quote to get an exact premium for your business. Read more...

What types of business insurance do I need?

Almost every business needs general liability and commercial property insurance at the very least. If you have any non-owner employees, you'll most likely need workers compensation insurance too as most state require it. It all depends on the risks your business faces. Read more...

How does general liability insurance work?

Having general liability is the basis of any business insurance program. If you can afford only one commercial insurance policy for your small business - then you should get a commercial general liability policy, because it offers protection against a wide range of common but unexpected risks. Read more...

What is a Certificate of Insurance?

A Certificate of Insurance (COI) is proof of coverage. It verifies that you have insurance coverage for your small business, & contains information on types and limits of coverage, insurance company, policy number, named insured, and the effective date of the policy. Read more...
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Medical Practice Insurance Tennessee Policy Information

TN Medical Practice Insurance

Medical Practice Insurance Tennessee. The vast majority of medical and healthcare practices have business owner's (BOP) policies. This type of policy protects the business or the facility in many of the same ways that homeowner's insurance coverage protects the home and its contents. If your medical practice does not have a BOP policy in place, now is the time to consider one.

A medical practice insurance Tennessee business owner's policy can provide you with protection if you find yourself on the receiving end of a lawsuit.

Medical practice insurance Tennessee protects your practice from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.

What Is An Medical Practice Insurance Tennessee Business Owner's Policy?

This medical practice insurance Tennessee is a policy that is crucial to most small businesses, especially healthcare-related businesses. A BOP policy can help your practice save money on your overall insurance costs while also protecting the practice that you've worked hard to establish. By bundling the coverage types available in a BOP policy, you can save a substantial amount on your insurance needs.

A BOP policy generally affords three types of coverage, including:

  • Business liability insurance. Business liability policies protect medical and healthcare practices from potential lawsuits from patients and others. This includes lawsuits where the plaintiffs allege property damage or physical injury that results from the operation on your business. For example, if you operate a healthcare facility, and a patient falls or becomes injured inside your facility, then this insurance can kick in and pay. This medical practice insurance Tennessee policy also covers claims of libel and slander in some instances. This type of policy should not be mistaken for a liability policy covering any malpractice liability. This is a different policy altogether.
  • Business property insurance. This insurance covers the actual property where your facility is located. It protects your business and the tools you use to conduct it, including any therapy tools, computer equipment, furnishings, and medical equipment.
  • Business income insurance. If your business is forced to close due to some sort of unforeseeable yet covered event, then the income you lose during the interim is covered under a business income insurance policy. For example, if your business shuts down after a hurricane blows through town, you can be reimbursed for lost income while repairs are being made to your facility.

Additional Medical Practice Insurance Tennessee Coverages

Although a BOP policy for medical practices is a good start to covering your insurance needs, there are other insurance types that you should consider to fully protect your business. Many medical clinics go for:

  • Accounts receivable coverage. Working with an insurance company oftentimes means waiting for reimbursement for many medical providers. Because receivable income makes up a high percentage of your practice's total assets, if your accounts receivable records become destroyed during a covered event, it can be catastrophic. With accounts receivable policies, you can be reimbursed for costs incurred in replacing these valuable payment records.
  • Off-premises utility services coverage, or OPUS. OPUS coverage is an essential for medical practices, since they depend on power and on communication services in order to operate. With an OPUS policy, your business is covered from loss of income that results from utility services interruptions. For example, if a storm causes downed power lines, and your business suffers as a result, you can be compensated.
  • Interruption of practice coverage. If an electrical service disruption or other utility disruption causes your business to be unable to open, then this type of coverage provides up to 12 months of lost income for your business while repairs are underway. In some instances, you can elect to be paid a particular amount for the first 15 days of outage.
  • Data breach coverage. You've seen plenty of press in the past few years about data breaches and how many people they can affect. With data breach coverage, you protect your medical practice from liability if a data breach occurs.
  • Legal expenses insurance. If a patient of yours makes a complaint against a state review board, this coverage kicks in to pay for legal expenses to defend you in front of the board or in court. This can be valuable medical practice insurance Tennessee coverage if the unexpected happens.

In addition to these insurance types, you should also consider bundling worker's compensation and commercial auto insurance along with your BOP policy for medical practices. These coverages prove invaluable if a worker is hurt or becomes ill due to a work-related cause. If you have vehicles that you use in your business activities, it's important to carry commercial auto insurance to cover these vehicles, since most personal policies will not pay for accidents and resulting claims when the vehicle is used for work.

Where To Get Help

Discussing your particular situation with your licensed agent is the best way to find the right business owner's policy for your medical practice. Your agent can help you compare rates with multiple insurers to find the best possible rate for you and your budget. Your agent can also help you find the right level and policy limits to ensure that your medical practice is covered from a 360-degree angle.

Tennessee Economic Data & Commercial Insurance Information

Made In Tennessee

If you're a entrepreneur, you need more than just a great products and services and a well-established business model to be a success; you also need to choose the right location for your organization. No matter how awesome your ideas are, if your business isn't located in a place where what you offer will provide value to consumers, you're going to struggle to succeed.

Whether you're thinking about setting up the headquarters of your organization or you're planning on opening a branch of your company in Tennessee, familiarizing yourself with the economic trends and the requirements for commercial insurance in the state is crucial for your success. Below, we offer insights regarding job growth and insurance coverage requirements in The Volunteer State.

Economic Trends For Small Business In Tennessee

In regard to job growth, the state of Tennessee is exceeds the rate of national job growth. As of February 2019, unemployment rates were at a historic low in The Volunteer State, with a rate of 3.2% throughout the state; 0.1% lower than the last historic low of 3.3% in October of 2018. That's lower than the national unemployment rate, which was reported to be 3.8% in February of 2019. Economists are forecasting continued job growth throughout the state into 2019.

In addition to positive job growth, the state of Tennessee offers other favorable conditions for entrepreneurs. No personal income tax and more training and education opportunities for the workforce are just some of the factors that make The Volunteer State a great place for business owners of both established companies and startups. While the entire state offers favorable conditions for businesses, the eastern and middle areas are considered the best to start a business; this includes big cities like Nashville and Knoxville; however, cities throughout the state are also offering great opportunities for business operations, such as Chattanooga, Memphis, Pigeon Forge, Alcoa, Lebanon, and Crossville.

Industries that are thriving in Tennessee include:

  • Agriculture
  • Construction
  • Healthcare
  • Information technology
  • Manufacturing
  • Technology, as a whole
Business Insurance Regulations & Limits In TN

The Tennessee Department of Commerce & Insurance regulates insurance in Tennessee. Just like any other state in the country, there are regulations in place regarding commercial insurance. Business owners are required to carry certain types of coverage to protect themselves, their clients, and their employees.

Small businesses with 5 or more employees are required by TN state law to have workers comp insurance coverage. That drops to 1 or more employees if they operate in the construction business or trades (construction service providers).

If you use certain types of motor vehicles for business-related purposes, you'll also need to invest in commercial auto insurance coverage to protect your drivers, as well as other drivers on the road.

Additional Resources For Medical Insurance

Discover small business insurance for medical and dental professionals. Medical malpractice insurance is a type of professional liability that protects health care professionals from liability causing in bodily injury, medical expenses and property damage.


Medical And Dental Insurance

Health care providers are the most trusted individuals in our society. Ironically, they are the same ones who can do the greatest harm. They actually have the right to invade our bodies with knives and to poison us with chemicals - all in the name of health care and with the goal of relieving our symptoms and hopefully bringing about a cure.

While the actions of these professionals normally benefit us, insurance coverage must be available for the times when mistakes happen and things go wrong. These professionals and their facilities have extensive property exposures that are becoming more and more intricate and whose values are increasing exponentially.

The 'one size fits all' approach that once could have applied to insurance for health care providers and their facilities no longer applies.

Professional liability offers protection against claims of malpractice for all sums that the medical professional becomes legally obligated to pay as damages because of rendering or failing to render professional services.

Professional and medical malpractice exposures are the most expensive and difficult of all exposures for health care providers. The commercial general liability policy excludes these exposures so separate coverage is needed. Most professional liability policies are written on a claims-made basis and, as a result, tail coverage and retroactive dates are important coverage issues to be aware of when evaluating the insured’s coverage needs and comparing coverages.

The coverage provided is often called medical malpractice. For decades, many involved in the health care field and insurance companies that provide insurance coverage to providers have stated that malpractice lawsuits have created an ongoing crisis of restricting insurance availability, due to loss of insurance companies that write the coverage and significant rate increases.

As a result, state legislatures have taken the following actions to address the situation:

Imposed a dollar limitation of liability for malpractice suits.

Modified statutes of limitation to limit the number of years that a suit may be brought against a physician following a negligent act.

Modified when the statute of limitations takes effect. An example is beginning from a negligent act's occurrence rather than from its discovery.

Passed laws to modify tort law procedures and doctrines that relate to malpractice.

Because of differences in law by state it is important to know the states in which the covered health care providers are licensed and regularly practice. Some health care providers may practice in multiple states because of their particular specialty, their reputation or the demand for their services. Some hospitals may have ownership in facilities or provide services to patients that are outside of their main location state.

Minimum recommended small business insurance coverage: Business Personal Property, Business Income and Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, Physicians and Surgeons Floater, Valuable Papers and Records, General Liability, Employee Benefits, Professional, Umbrella, Hired and Non-owned Auto & Workers Compensation.

Other commercial insurance policies to consider: Building, Earthquake, Equipment Breakdown, Flood, Leasehold Interest, Real Property Legal Liability, Computer Fraud, Forgery, Cyber Liability, Employment-related Practices, Business Automobile Liability and Physical Damage and Stop Gap Liability.


Request a free Medical Practice Insurance Tennessee quote in Alcoa, Arlington, Athens, Atoka, Bartlett, Bloomingdale, Brentwood, Bristol, Brownsville, Chattanooga, Church Hill, Clarksville, Cleveland, Clinton, Collegedale, Collierville, Columbia, Cookeville, Covington, Crossville, Dayton, Dickson, Dyersburg, East Ridge, Elizabethton, Erwin, Fairfield Glade, Fairview, Farragut, Fayetteville, Franklin, Gallatin, Germantown, Goodlettsville, Green Hill, Greenbrier, Greeneville, Harriman, Harrison, Hartsville, Henderson, Hendersonville, Humboldt, Jackson, Jefferson City, Johnson City, Kingsport, Kingston, Knoxville, La Follette, La Vergne, Lakeland, Lawrenceburg, Lebanon, Lenoir City, Lewisburg, Lexington, Loudon, Lynchburg, Manchester, Martin, Maryville, McKenzie, McMinnville, Memphis, Middle Valley, Milan, Millersville, Millington, Morristown, Mount Juliet, Munford, Murfreesboro, Nashville-Davidson, Newport, Nolensville, Oak Ridge, Oakland, Paris, Pigeon Forge, Portland, Pulaski, Red Bank, Ripley, Savannah, Sevierville, Seymour, Shelbyville, Signal Mountain, Smyrna, Soddy-Daisy, South Cleveland, Spring Hill, Springfield, Sweetwater, Tellico Village, Tullahoma, Union City, White House, Winchester and all other cities in TN - The Volunteer State.

Also learn about Teneessee small business insurance requirements for general liability, business property, commercial auto & workers compensation including TN business insurance costs. Call us (901) 255-6544.

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