South Carolina Business Insurance

General liability insurance in South Carolina is one of the most common types of coverage. If your business is accused of injuring someone you don’t employ or destroying their property, general liability can help pay for damages, including medical expenses and the cost of repairing or replacing items.

For example, a worker at a cleaning business in Charleston accidentally spills bleach at a client’s house and ruins an expensive rug. The cleaning company’s general liability insurance could help cover the cost to purchase a new rug for the customer.

Many commercial landlords require proof of a general liability policy before they’ll offer you a lease. And clients may ask that you carry commercial general liability before they’ll hire your business.

Cleaning and construction firms can upgrade their general liability coverage with tools and equipment insurance. This optional add-on can help pay to replace or repair essential business gear that’s lost, damaged or stolen.

South Carolina law requires most businesses with employees to carry workers’ compensation coverage. It can help cover medical bills and lost wages when staff members are hurt on the job.

Here’s a situation where South Carolina workers’ comp insurance would come into play after an unexpected employee injury:

A kitchen worker at a Greenville-based restaurant suffers a serious cut and needs emergency care, stitches and three weeks to recover. Workers’ comp could help pay the employee’s hospital bill and lost wages while they recuperate.

Businesses that own vehicles will want to add commercial auto insurance to their business insurance package in South Carolina. That’s because personal auto insurance won’t cover accidents that happen while driving for business.

For example, a handyman in Beaufort has a collision with another driver in a company truck and damages both vehicles. Commercial auto insurance could help pay to repair the vehicles and help cover medical expenses related to the incident.

Some South Carolina businesses might also purchase an optional add-on called hired and non-owned coverage. This type of insurance can help pay for accident damages if you ask employees to drive their own vehicles or rent autos for business purposes.

Many South Carolina businesses purchase commercial property insurance to protect their business property, inventory and physical premises. This type of coverage can help pay for damages after a covered event, such as water, fire or wind damage.

For example, a sprinkler malfunction at a Myrtle Beach women’s boutique damages the clothing for sale and ruins store fixtures. Commercial property coverage could help pay to replace the inventory and replace the damaged fixtures.

It’s important to read your policy documents carefully to make sure there aren’t exclusions for your business. Some locations prone to flooding or hurricane damage might have limited coverage.

Claims of professional negligence can hurt both a small business’s finances and its reputation. If a client says that you delivered substandard work, failed to complete a job or missed a deadline, you could be sued.

Professional liability insurance, also known as E&O or errors and omissions coverage, can help cover costs associated with these types of claims, including court and attorney fees and any damages for which you’re found responsible.

For instance, a client accuses a Columbia accountant of making a critical error that led to a hefty fine. E&O coverage could help the accountant reimburse the client for the fine, as well as assist with attorney costs if the client files a lawsuit