Commercial Insurance in South Carolina
Being a business owner in South Carolina, Georgia, or other parts of the country can be a great idea. If you want to be a business owner, getting proper insurance for it is critical. One type of coverage that a Hilton Head, SC, or other area business should obtain is commercial insurance.
What is Commercial Insurance?
A commercial insurance plan is a specific type of coverage designed to protect businesses. This type of insurance can mitigate financial risks, protect assets, and offset liability concerns.
What is Included in Commercial Insurance
A full commercial insurance plan can have various forms of coverage. Some types of coverage typically included in this insurance include the following:
- Liability coverage – A general liability plan will support a business if they are found liable for an accident. This can help cover damages, including property damage, medical bills, or other losses incurred by another party.
- Property insurance – Your commercial plan will also include a provision for property insurance. This coverage will provide support so you can replace or repair your assets if you incur a loss.
- Worker’s Compensation – This type of insurance is valuable as it will provide overage if an employee has become hurt or ill while working on the job.
Who Requires Coverage
There are various situations when commercial insurance will be required. If you have taken out a loan or raised capital, there is a good chance the other party involved will require coverage. Further, depending on where your business is located and other factors, you could be required by law to have worker’s compensation coverage.
If you would like to start a business in either of these states, having insurance for your company is very important. When you are evaluating your options, you should call us at C & H Insurance Associates, LLC. Our professionals with C & H Insurance Associates, LLC can help you assess your needs and build an ideal policy.
