Commercial Insurance in South Carolina

Commercial insurance is vital for small business owners in South Carolina. It helps you protect both your personal and business assets. Debts can lead to legal settlements and claims, which translates to financial ruin. As a business owner, you need information from the experts at Michael Taylor Agency in Columbia, SC to help you understand how commercial insurance is a lifeline to your investment.

What is a small business in South Carolina?

A small business is a company with less than 500 employees. Over 97% of employees in South Carolina are part of small business companies. Commercial General Liability insurance, also known as business liability insurance protects your business against injury claims and damages caused by you or your employees. It can also cover the following:

Bodily Injury

This coverage caters for physical damage to another person apart from employees at your business place. It also includes damages that you or your employee causes in a client’s home or office.

Property Damage

It covers damage expenses due to your mistakes or your employee's when introduced by a business action. Accidents do happen while working for a client. This can result in huge damage to their property, but if you have general liability insurance, you can make a claim for replacements or repairs.

Personal Injury

General liability insurance protects you against claims of copyright infringement, slander, libel, invasion of privacy, false arrests, negligence, and any similar acts which can damage the reputation of another person.

Advertising Injury

This covers any losses that occur due to your advertising.

Legal defense and judgments

Commercial insurance covers cost incurred in defending against judgments and suits, but can only cover up to your coverage limit. However, it does not cover punitive damages as a result of willful misconduct or negligence.

As a business owner, you need commercial general liability insurance that is sufficient for your investment. Talk to the agents at Michael Taylor Agency in Columbia, SC for quotes and information on what you need. We also have a rating tool on our website for home and auto insurance policies that you can obtain at home. Reach out to our agents to get started.