MoneyGeek analyzed various insurance providers in Tennessee based on their policy costs, financial stability, customer satisfaction and time taken to provide an online quote.

Our analysis shows Thimble offers the best general liability insurance in Tennessee, with an average monthly cost of $53 for limited liability companies (LLCs) with 20 employees and $22 for sole proprietors without employees.

Next is the most affordable company for general liability insurance in Tennessee, with an average monthly cost of $25 for LLCs and sole proprietors.

MoneyGeek Logo IconBest General LiabilityTennessee
2024

Best General Liability Insurance in Tennessee

Why Trust MoneyGeek? We collected 1,229 general liability insurance quotes and analyzed cost information alongside customer satisfaction and financial stability reports to determine the best general liability insurance companies for small businesses in Tennessee.

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Coverage costs and company information for general liability insurance providers in Tennessee were last updated in 2023.

1,229Quotes Analyzed
 
6 Companies Compared
 
50 Zip Codes

Best Overall General Liability Insurance in Tennessee

MoneyGeek found that Thimble is the best general liability insurance provider in Tennessee, scoring 89 out of 100. You can look at the table below for the costs and overall scores of all insurers we analyzed in the state.

How was this MoneyGeek score calculated?

ThimbleMoneyGeek Score89Monthly Cost Without Employees$22Monthly Cost With 20 Employees$53
NationwideMoneyGeek Score89Monthly Cost Without Employees$33Monthly Cost With 20 Employees$38
NextMoneyGeek Score88Monthly Cost Without Employees$25Monthly Cost With 20 Employees$25
biBERKMoneyGeek Score88Monthly Cost Without Employees$23Monthly Cost With 20 EmployeesNo Data
The HartfordMoneyGeek Score86Monthly Cost Without Employees$31Monthly Cost With 20 Employees$52
HiscoxMoneyGeek Score83Monthly Cost Without Employees$29Monthly Cost With 20 Employees$71
Best OverallScore: 89
Thimble
2/5LLC Affordability
5/5Sole Proprietor Affordability
2/5Customer Satisfaction
3/5Financial Stability
5/5Online Quote Process
PROS

The cheapest option for sole proprietors

Provides a quote in a few seconds

Good financial stability ratings

CONS

Second-most expensive option for LLCs

Higher than normal complaint rate

Company Highlights

Thimble offers the best general liability insurance in Tennessee. The company charges the lowest rates for sole proprietors and is the only insurer that gives a quote in a few seconds. Thimble also has good financial stability ratings, which means it will settle your claims efficiently.

The insurer might not suit LLCs, as it charges the second-highest rates for them, offering insurance at an average cost of $53 per month. The average monthly rate for sole proprietors is $22.

Cheapest General Liability Insurance in Tennessee

Next is the most affordable company for general liability insurance in Tennessee, charging an average of $25 per month for LLCs and sole proprietors.

We found the winner for this category using an affordability score based on the monthly insurance costs for LLCs and sole proprietors, each weighted at 50%. The overall cheapest insurer may not be the cheapest for LLCs and sole proprietors.

How was this MoneyGeek score calculated?

CheapestScore: 96
Next
5/5LLC Affordability
4/5Sole Proprietor Affordability
0/5Customer Satisfaction
2/5Financial Stability
4/5Online Quote Process
PROS

Affordable rates for LLCs

Fairly fast quote system

CONS

More expensive than some other insurers for sole proprietors

Low financial stability score

Company Highlights

Next is MoneyGeek’s pick for the cheapest general liability insurance in Tennessee. It provides the most affordable policy for LLCs but has the third-cheapest score for sole proprietors. The average cost of a policy for LLCs and sole proprietors is $25 per month.

Its financial stability score is low, which may affect your claims processing time. The insurer also takes over one minute to provide an online quote.

Best General Liability Insurance for Employers in Tennessee

Nationwide offers the best general liability insurance for employers in Tennessee, with a MoneyGeek score of 93 out of 100. It charges $38 per month for a policy.

We ranked this insurer based on the average monthly cost for LLCs with 20 employees. The number of employees significantly affects the policy cost. Businesses with fewer than 20 employees will generally pay a lower cost, while those with more than 20 employees will have to pay a higher rate.

How was this MoneyGeek score calculated?

Best for EmployersScore: 93
Nationwide
4/5LLC Affordability
5/5Customer Satisfaction
4/5Financial Stability
3/5Online Quote Process
PROS

High financial stability score

Receives a low number of complaints

Offers affordable rates

CONS

Relatively slow online quotes process

Company Highlights

Nationwide stands out in our analysis of the best general liability insurer for employers. The company receives few complaints, which indicates it provides a high-quality service.

It also offers one of the most affordable policies at an average monthly cost of $38. Since it has a high financial stability score, you can expect your claims to be settled efficiently. However, Nationwide’s online quote process is slower than other insurers we analyzed in Tennessee.

Best General Liability Insurance for Sole Proprietors in Tennessee

MoneyGeek found that biBERK is the best insurance company for sole proprietors, as it has a score of 96 out of 100. The average policy cost with this company is $23 per month.

After analyzing many insurers, we ranked this insurer as the best option based on the average cost for sole proprietors with no employees. Sole proprietors in risker industries like construction might pay higher premiums.

How was this MoneyGeek score calculated?

Best for Sole ProprietorsScore: 96
biBERK
5/5Sole Proprietor Affordability
4/5Customer Satisfaction
5/5Financial Stability
3/5Online Quote Process
PROS

Provides one of the most affordable policies for sole proprietors

Financially stable

Receives fewer complaints than its competitors

CONS

Slower online quotes process

Company Highlights

biBERK provides affordable general liability policies for sole proprietors, charging an average of $23 per month. It has the highest financial stability score, so you won’t have to worry about timely payment of your claims.

The company’s lower number of complaints shows that it offers good quality service. But you’ll have to put up with its online quote process when applying, which is one of the slowest among other insurers.

Do You Need General Liability Insurance in Tennessee?

Unlike workers' compensation and commercial auto insurance, Tennessee law does require business owners to purchase general liability insurance.

As a business owner, you should still consider purchasing it because it will protect you against bodily injury, property damage and personal injury claims. A general liability policy will pay for administrative costs, court fees, settlement expenses and medical bills of injured people.

You might also need this type of business insurance to win contracts in various industries and obtain business licenses.

According to state law, businesses must carry workers' compensation if they have five or more employees. However, you must have it with even one employee if you have a construction or coal mining business.

Commercial vehicles in Tennessee must have an insurance policy with at least the following limits:

  • $25,000 for bodily injury liability per person
  • $50,000 for bodily injury liability per accident
  • $15,000 for property damage liability per accident
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SMALL BUSINESS RESOURCES IN TENNESSEE

Fund Tennessee is a State Small Business Credit Initiative (SSBCI 2.0) program with three components, including InvestTN, LendTN and AssistTN. This program will provide financing and technical assistance to help small businesses thrive.

How Much Is General Liability Insurance in Tennessee?

On average, general liability insurance in Tennessee costs $48 monthly for LLCs with 20 employees and $27 monthly for sole proprietors. We gathered these rates for a policy with a $2 million aggregate limit, $1 million occurrence limit and $0 deductible.

The aggregate limit is the maximum amount the insurer will compensate you for, while the occurrence limit refers to the maximum amount the insurer will pay for each claim. A deductible is the amount the business owner must pay before the coverage becomes active.

Factors That Impact General Liability Insurance Costs in Tennessee

Each business will pay a different cost for a general liability policy based on the industry and other factors. We explain these factors below.

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    Policy limits

    Your policy limits impact your overall costs, as a policy with a higher coverage limit is more expensive. The aggregate limit is the total amount the insurance provider will pay during the policy period, while the occurrence limit is the maximum amount the insurer will pay for each claim.

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    Number of employees and payroll costs

    The number of employees your business has also increases your insurance expenses. As the number increases, so will the policy cost. This is apparent based on the $21 monthly cost difference between sole proprietors and LLCs with 20 employees.

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    Business location

    Insurers consider it risky to insure businesses in a populated area, as it increases the probability of filing a claim. It’s why they charge higher rates to insure such companies. Statewide averages can vary by city.

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    Claims history

    Businesses that have filed fewer claims in the past will pay lower rates than those with a history of more claims.

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    Industry

    Many industries, like construction, are riskier than others as there are more chances of accidents. Insurers will give expensive quotes to business owners in these industries. You can look at the average cost of a general liability policy for different industries in the table below.

CleaningMonthly Cost Without Employees$72Monthly Cost With 20 Employees$1,401
Software DevelopmentMonthly Cost Without Employees$27Monthly Cost With 20 Employees$48
General ContractorMonthly Cost Without Employees$235Monthly Cost With 20 Employees$3,343

Frequently Asked Questions About General Liability Insurance in Tennessee

We answered the following frequently asked questions to help you understand how general liability insurance works in Tennessee and the available options.

Which company has the best general liability insurance in Tennessee?
Which company has the cheapest general liability insurance in Tennessee?
What does general liability insurance cover in Tennessee?
Does Tennessee require businesses to have general liability insurance?

About Melissa Wylie


Melissa Wylie headshot

Melissa Wylie is a Content and SEO Manager at MoneyGeek. Melissa has worked in the financial content space since 2018 and has spent much of that time focused on all things small business.

Prior to joining MoneyGeek, Melissa held SEO positions at Bankrate and LendingTree. Melissa’s work has also appeared on LendingTree-owned websites ValuePenguin and MagnifyMoney.

Melissa began her career at American City Business Journals in 2015 as a reporter for the company’s women-focused publication Bizwomen. Melissa has a Bachelor of Arts in Journalism from the University of North Texas. Melissa relies on her foundation in journalism to craft content that simplifies complex financial topics to help everyone feel confident when making decisions with their money.

Melissa's other work can be read on LendingTree and Bizwomen.


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