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 99.4% of all South Carolina businesses and collectively employ 839,283 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

General Liability

This is the most common business insurance coverage, and nearly all businesses in South 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.

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Workers' Compensation

Businesses in South Carolina are required to have workers’ comp insurance if they have four or more employees. Workers’ compensation insurance 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

South 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 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:

2023 South Carolina Small Business Profile (U.S. Small Business Administration)
South Carolina Business Resources (SC.gov)
Workers’ Compensation FAQs (SC.gov)
Doing Business in South Carolina (SC.gov)

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.

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 South Carolina policy or a combination of business insurance coverages. Simply start a quote online or call us to speak with an agent.