Tennessee Business Liability Insurance

Tennessee business liability insurance is evolving into different forms of coverage. For instance, businesses in Tennessee are beginning to be able to insure against terrorism. That's if terrorism is a threat for their small business. Not everyone is in an industry that would be a potential terrorist target, while others, such as those working with chemicals and other dangerous materials would be.

Keep in mind, however, that terroristic acts are not just acts that are carried out by an international terrorist group, but can be carried out by a domestic group or anyone who wishes to cause terror for others. This shows how Tennessee business liability insurance and liability insurance in general is growing throughout the industry and allowing businesses to secure their coverage even more.

But it is important to know that no Tennessee policy covers everything, which is why there are add-ons available to make sure you can cover as much as possible. But just as you are protecting your company, the Tennessee business liability insurance company and any insurer at that needs to protect themselves, which is why there are restrictions within policies. So there are certain terms that you need to look for in your paperwork when you receive it.

Uninsurable Situations

The term that you will see in your Tennessee business liability insurance policy is the term "uninsurable situations." One of those situations is labeled as "covered elsewhere." What this means is that there are some situations in which an incident should be covered by another policy. For example, automobiles, especially those that are owned by employees, are not covered. This is unless you get a special TN auto policy that does take over where their own auto coverage leaves off because they may be using their car for business purposes.

But the reason why the general Tennessee business liability insurance policy won't cover automobiles is because each individual vehicle should already have its own policy. However, there may be restrictions on the policy of the employee when using their car for business reasons. The reason is because there may be a clause within their auto policy that says that they are not covered if they are using their vehicle for business purposes. This is where you may want to add on automobile coverage, but know that it is not already there for you.

"Covered only by extra modification" is another term you may see in your TN business liability insurance policy. What this means is that there are options available to you that will allow you to modify your policy. The modification being referred to is talking about the add-ons that you are able to add to your policy. The main reason why this exists is because it is not fair to add on coverage as a default form of coverage when only a few may need it. Automobile coverage falls into this category as well, as does professional liability insurance and employers' liability insurance.

Truly "uninsurable" situations include warfare, nuclear activities, and intentional damage. In other words, the exclusions include situations that are too dangerous to be insured. There are special programs that cover nuclear or warfare activities. Tennessee business liability insurance or liability insurance in any state is not equipped or designed to cover such activities.

Dealing with Exclusions

When reading your Tennessee business liability insurance, don't assume that an exclusion on your policy may automatically fall into the "uninsurable" category. If you are not sure about something, it is best that you call your Business liability insurance company in Tennessee. Believe it or not, there are companies in Tennessee that go ahead and pay claims against them rather than turning the claims into their insurer because they think that they are not going to be insured.

Some of these Tennessee companies have found that had they turned in their claim, they would have had a lower settlement or may not have had to pay at all. This is because the Tennessee business liability insurance company will investigate the situation to determine the merit of the claim against the company before ever paying any money. Making sure you turn in everything and acquire about those things you are not sure of means that you may be covered after all or that you don't have to pay at all.

So make sure you have Tennessee business liability insurance, are aware of the exclusions that are present, and ask questions any time that you need to. By knowing how your Tennessee company is covered, you can make sure that you don't have to pay for things that you don't need to. You can ensure the financial security of your company, which means job security for you and for your employees. You can go on with each day as you normally would without worrying about payment on lawsuits.

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