If you are a business owner in South Carolina, you are among over 400,000 small businesses that make up about 99.4 percent of all the state’s businesses. Because of a friendly business environment-no property tax, no inventory tax, and a favorable corporate tax structure- South Carolina is home to many startup and seasoned businesses. 

But despite all these incentives, unfortunate events can quickly turn your business dream into a nightmare. Theft, floods, lawsuits, and accidents can guide your business into a grinding halt. Fortunately, when you purchase commercial insurance from Allsurance Group located in Spartanburg, SC, you can focus on your business knowing that it’s secure.

Why you need more than one type of commercial insurance

As you have seen, businesses operate in an uncertain environment that carries more than one threat. While there is no one-size-fits-all commercial insurance, a combination of two or more options can provide optimal coverage to your business.

The state of South Carolina requires your business to have the following types of commercial insurance:

• Workers’ compensation insurance: To cover for employees’ medical costs suffered in the workplace. It also protects your business from lawsuits emanating from injured workers.
• Commercial auto insurance: You should purchase liability insurance and uninsured motorist coverage for your vehicles used for business purposes.

While the above coverages protect you from liability damage, they don’t protect your business from theft, floods, negligent lawsuits, cyberattacks, and other risks. That said, consider the below insurance options for maximum coverage.

• Business owner’s policy that bundles property insurance and general liability insurance to make it affordable. 
• Cyber liability insurance to protect your business from online crimes.
• Professional liability insurance to cover for damages in cases of alleged negligence.
• Commercial flood insurance to protect your building and its contents from flood damage.
• Umbrella insurance to protect your business when your typical commercial insurance policies run out.

Having seen the importance of carrying more than one type of commercial insurance, it’s time to partner with an agent that takes your business needs at heart. At Allsurance Group situated in Spartanburg, SC, we will work with you to establish adequate coverage that you need to run a safe, successful business.