North Carolina Business Insurance

Customized protection for your North Carolina business

North Carolina business owners should consider several types of commercial insurance for financial and legal reasons. Customer injury, property damage and data breaches are a few of the many incidents that can result in debts that put their business’s financial health at risk.

North Carolina reported 90,100 non-fatal workplace injuries in 2022, with over 82% of them from private sector businesses, according to the Bureau of Labor Statistics. Incidents like these can disrupt business operations and cash flow. Insurance helps minimize these consequences.

The Progressive Advantage^® Business Program can help you get a customized North Carolina business insurance quote that reflects your specific situation.

Types of NC business insurance

General Liability

This is the most common business insurance coverage, and nearly all businesses in North Carolina should have it. It protects against third-party bodily injury and property damage, as well as personal and advertising injury.

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Commercial Auto

This coverage protects against damage to your vehicles and trailers, as well as injuries or property damage related to their use. Your personal auto policy doesn’t cover vehicles while they’re being used for business reasons.

Use this tool to see if you need a commercial policy.

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Workers' Compensation

Businesses in North Carolina are required to have workers' comp insurance if they have three or more employees. It helps pay for expenses related to employees becoming injured or ill while working for you.

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Business Owners Policy (BOP)

A BOP combines property and liability coverage into one easy-to-manage policy. It’s a great option for small to medium-sized businesses that rent or own commercial property, such as a storefront, warehouse or office building.

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Professional Liability

North Carolina businesses that offer professional services should consider this coverage. It protects businesses from claims of professional negligence, both actual or alleged, and helps pay for defense costs. It’s also known as errors and omissions insurance (E&O).

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Cyber Insurance

This protects against incidents like data breaches and cyber attacks. It includes first-party and third-party protection for things like investigative services, data recovery and legal costs. Businesses that store or manage customer data, like credit card information, typically need this coverage.

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How much does business insurance cost in North Carolina?

The cost of a North Carolina business insurance policy depends primarily on the type of work that you do. Businesses are rated on the exposures that are unique to their industry. High-risk professions, like tree trimmers, usually need specialized coverage that is typically more expensive.

Other factors that affect your rate include coverage needs, business size and location. For example, a business in Charlotte can expect a different rate than a business in Winston-Salem.

Learn more about the factors that influence your cost, or get a free online quote to find out your rate.

North Carolina business insurance requirements

Workers’ compensation is required by law in North Carolina for almost all businesses with three or more employees. Small business owners can qualify to become self-insured or get coverage through a private insurance carrier or the state’s insurance fund.

General contractors don’t need to carry workers’ comp for the subcontractors they hire. However, they must provide coverage to a subcontractor’s employees if they employ less than three people. Subcontractors without employees don’t need workers’ comp unless it's required as a condition of their employment.

While other types of coverage aren’t legally necessary in North Carolina, it’s common for prospective clients and landlords to require general liability or a BOP before a business can begin working with them.

Resources for North Carolina small business owners:

Types of Insurance for Your Business (NC Department of Insurance)
Workers’ Comp FAQs (North Carolina Industrial Commission)
2023 North Carolina Small Business Profile (U.S. Small Business Administration)
2018 North Carolina Workplace Injury Data (U.S. Bureau of Labor Statistics)

North Carolina professions we insure

We help small business owners from a wide variety of industries, including these common professions:

Browse more examples of professions we insure.

Why choose Progressive?

Options

We can help you secure coverage at any stage of your business’s development with the flexibility to adjust your policy as your business changes. Our agents will work with you to make sure you’re getting protection that meets both your needs and budget.
Experts

As the #1 commercial auto insurer in America^*, you can trust us with all your business insurance needs. Our team of specially trained, in-house agents can assist you every step of the way to make sure you’re getting the best coverage for your business.
Convenience

There are several ways to get a quote, whether you need a single North Carolina policy or a combination of business insurance coverages. Simply start a quote online or call us to speak with an agent.