Sometimes it is daunting and complicating to operate a small business entity in Spartanburg, SC. Nonetheless, acquiring salient commercial insurance from Allsurance Group agents will ease the operation of your business and protect against losses emanating from scenarios like damage to property or injury to employees. Commercial insurance is tailored to help businesses stay protected against imminent perils that may compromise their success. Depending on the versatile commercial coverage, it can be specifically designed to safeguard the reputation, wellbeing and financial status of a business and employees working for your business.
Is commercial insurance a must in South Carolina?
Commercial insurance is not legally required by law in South Carolina. However, South Carolina advocates businesses possessing four or more workers, seasonal or full-time, to carry workers’ comp insurance. This policy caters to employees’ medical bills emanating from work-related injuries or general illness. Additionally, South Carolina requires all business-owned vehicles to carry commercial auto insurance. Apart from the government-mandated coverage, a business owner in Spartanburg SC must consider other optional coverages safeguarding your business and employees. They include:
General liability coverage: It safeguards your business from claims of physical injury or property damage. It also helps you to cover claims of libel or slander.
Commercial property insurance: It shields your business’s physical structure and other assets of any given business entity, such as inventory, computers and furniture.
Data breach insurance: Several small businesses store crucial personal information for their customers. It protects your business from data breaches and cyber-attacks. In addition, it pays for clients’ legal fees, notification costs and other associated expenditures.
Professional liability insurance: It’s also referred to as Errors and Omissions insurance. It provides defense and damages for failure to or rendering professional services inappropriately. It also covers customers over blunders and missed deadlines.
Business Owners Policy(BOP): It combines property and liability coverage into one simple-to-manage policy. It is pivotal for small business entities that rent or possess commercial assets such as warehouses or office buildings.
Are you still struggling to make an informed decision about getting formidable commercial insurance in Spartanburg, SC? Please get in touch with our dedicated agents at Allsurance Group who will walk you through all the types of commercial coverages available. So call or visit us today, and you won’t regret it!