How Much Does Business Insurance Cost in Memphis, TN?
Annual business insurance costs for small businesses. Updated March 2026 with data from BLS, U.S. Census Bureau, and industry surveys.
Typical Cost Range
$410 – $2.460
-18% vs national average
$410$1.435$2.460
LowNational avg: $1.750High
Memphis vs State & National Average
| Category | Memphis | Tennessee Avg | National Avg |
|---|---|---|---|
| Average cost | $1.435 | $1.451 | $1.750 |
| Low estimate | $410 | $1.088 | $1.313 |
| High estimate | $2.460 | $1.886 | $2.275 |
Detailed Cost Breakdown
| Item | Low | High | |
|---|---|---|---|
| Low estimate | $500 | $600 | |
| Average | $1.575 | $1.925 | |
| High estimate | $2.400 | $3.000 |
Business Insurance in Nearby Cities
Frequently Asked Questions
How much does business insurance cost in Memphis?
In Memphis, TN, business insurance typically costs between $410 and $2.460. The average is $1.435, which is 18% below the national average.
Is Memphis expensive for business insurance?
Memphis has a cost-of-living index of 82 (100 = national average). Business Insurance costs are 18% lower than the national average of $1.750.
What factors affect business insurance costs in Memphis?
Key factors include local labor costs, cost of materials, market competition, Tennessee state regulations, and Memphis's overall cost of living (index: 82/100). Prices can also vary by season and specific requirements.