South Carolina Business Insurance
Customized protection for your South Carolina business
South Carolina business owners should consider business insurance to protect against lawsuits and financial hardships that often result from work-related incidents. Customer slips and falls, employee injury or claims of negligence are a few of the many situations that can quickly overwhelm a business without the right insurance.
Small businesses make up over 99% of all South Carolina businesses and collectively employ 817,008 people, according to the U.S. Small Business Administration (SBA). South Carolina law requires these businesses to carry workers’ compensation insurance if they employ four or more people.
Finding customized business insurance that properly protects your business is simple with the Progressive Advantage® Business Program. Our insurance experts can help you get a quote for general liability, professional liability, workers’ comp and more.
Types of SC business insurance
How much does business insurance cost in South Carolina?
The cost of business insurance in South Carolina is based on a variety of factors, including your business’s size, location and coverage needs. For example, a business located in a more populated area like Charleston will have a different cost than a business located in a less populated area of Lowcountry near Hilton Head Island.
One of the most important factors that influences your business insurance rate is the type of work you specialize in. For example, a finish carpenter typically works indoors at ground level, whereas a roofer works outdoors high above the ground. In this situation, the finish carpenter’s exposed to less risk and can therefore expect to pay a lower rate.
Learn more about the factors that affect your business insurance rate.
South Carolina business insurance requirements
Businesses with four or more employees are required to carry workers’ compensation to protect their employees, per state law. This includes part-time workers and family members who work for the business.
Additionally, under SC law, general contractors can be held accountable for injuries that may occur to their subcontractors if the subcontractors do not carry workers’ comp insurance themselves. It’s another reason workers’ comp is a crucial coverage.
While workers’ comp may be the only coverage that’s mandated, carrying the proper business insurance coverages can protect your business from additional financial strain in the event of an accident.
Resources for South Carolina small business owners:
South 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.
Business insurance for all South Carolina cities
We can customize business insurance in all South Carolina cities, including, but not limited to: