Business Insurance in Abbeville, Honea Path, and Anderson, SC
Any Palmetto State business needs to have business insurance. By investing in numerous types of protection, you can receive assistance if damaging occurrences strike your company. For help establishing your policy portfolio, entrust your care to Select Insurance. We’re ready to help any business owner find coverage that fits their operational needs.
Property & Possessions Insurance
This is the coverage that will pay for damage to your property, company buildings, owned possessions, products and related assets. The types of policies that fall under this category can include:
- Structure Coverage: This covers the business’ owned buildings, such as your office space.
- Contents Coverage: This pays for damage to furnishings, equipment and products in the business.
- Business Interruption Coverage: This covers income lost during temporary business closures.
- Equipment Breakdown Coverage: This pays to repair damaged machinery or critical utilities.
Liability insurance applies to third-party losses caused by the business’ negligence. For example, policies will cover you if a client falls in your store, gets hurt and then sues. Liability policies can include:
- General Liability Coverage: This applies to third party bodily injuries and property damage.
- Personal Injury Coverage: This covers libel, slander, advertising injuries and copyright violations.
- Errors & Omissions Coverage: This insures professional errors that cause clients financial harm.
- Cyber Liability Coverage: This covers the business and clients in case of data breaches or cyber theft.
- Directors & Officers (D&O) Coverage: This insures business leaders if they face liability charges.
- Employment Practices Coverage: This pays for claims of misconduct towards employees.
Commercial Auto Insurance
If you operate a business vehicle, or if your employees drive for work (besides commuting), then you might need this coverage. It will help you meet South Carolina’s laws that require most drivers to carry car insurance, while also protecting your business’ investment in a company car. Coverage can include:
- Liability Insurance
- Collision Insurance
- Comprehensive Coverage
- Uninsured/Underinsured Driver Coverage
- Hired/Non-Owned Vehicle Insurance
- Roadside Assistance
If you operate a commercial truck, you might need other protection, such as motor truck cargo insurance.
Workers Compensation Insurance
This insurance is required of most businesses in South Carolina. It will compensate employees if they get hurt or sick on the job. It might provide them with supplementary income, help with medical bills, and a disability income. Policies might also provide death benefits if an employee dies in an accident.
Business Owners Policies
As you can see, business insurance isn’t just one policy. Still, you can obtain several types of coverage in one place by buying a business owners policy, or BOP. BOPs often contain:
- Property & Possessions Coverage
- Business Interruption Coverage
- General Liability Coverage
BOPs are competitively priced, and they will offer tailored limits to suit almost any small business owner. You can also usually add other types of protection to the BOP.
Frequently Asked Questions
Why do I need business insurance?
Your business is one of your main sources of income. So, if something happens to the business, you might face a big problem with money. By getting business insurance, your various policies will act as resources that can help you with the costs of accidents or other damages. You’ll be able to protect your capital, profit and assets from the financial loss that might come with accidents or other damages.
What insurance do you need for a small business?
Small business owners usually need at least the coverage a BOP will provide. Still, you’ll often need to expand the basic BOP to include more-specific coverage. You’ll also probably need other coverage, like workers compensation and commercial auto insurance, which cannot come as parts of BOPs.
How do I choose small business insurance?
We recommend that you carry at least enough insurance for your company’s net worth. You’ll also have to get coverage as required by law. Your Select Insurance agent can help you determine the right way to make an appraisal of your risks and assets to get necessary coverage.
Do sole proprietors need coverage?
Sole proprietors need insurance as much as any other business. Since your personal assets often relate closely to your business assets, then you’ll need the right policy that will apply comprehensively to all of your assets and risk factors in your industry.
Get Started Today
Select Insurance LLC. strives to provide the best advice and customer service in South Carolina. Please feel free to call one of our offices to speak with an insurance professional:
Or, email your questions and an agent will reply promptly.