Business Insurance in North Carolina FAQ - Quick Answers

Business insurance in North Carolina costs vary depending on several risk factors that can only be determined by qualified quotes. Check out what carriers look at when rating your business coverage:

  • Type of industry
  • Number of employees
  • Gross annual sales
  • Location of business
  • Number of company vehicles
  • Safety practices in place
  • Past claims reported
  • Number of years in operation

 In North Carolina, you'll need to obtain workers' compensation when you have 3 employees or more, and commercial auto insurance if you drive any company-owned autos. All other policies are usually not mandatory but are useful to consider for more protection.

In North Carolina, multiple business policies could apply to your operation. Here are some policies that are common among business owners:

General liability insurance is your primary policy from which all other coverages stem, and it protects your North Carolina business in the following ways:

Health insurance is not required in North Carolina if you have fewer than 50 employees. However, if you still want to offer health coverage for additional benefits to your team, a local adviser can quote through carriers for free.

There are numerous commercial insurance companies when shopping for coverage. In North Carolina, Hiscox, Nationwide, and Hanover are rated among the top by peers. This is due to their superior customer service and robust coverage selection.

Do You Know What Your Business Insurance Covers in North Carolina?

Find the Best Business Insurance in Your City

National Business Insurance Stats

Number of businesses in the US: 30,819,176

Burglary rate per 1,000 residents in the US: 3.76

Auto theft rate per 1,000 vehicles in the US: 2.29

CityNo. of businessesBurglaries / 1,000 peopleAuto thefts / 1,000 cars
Asheville12,7858.895.75
Burlington4,5129.872.61
Cary14,9061.070.45
Chapel Hill6,1542.990.59
Durham21,3397.042.70
Fayetteville13,9046.511.84
Greensboro26,4997.433.31
Greenville6,5234.411.21
Hickory5,4155.733.61
High Point9,3495.483.53
Raleigh43,8952.511.57
Rocky Mount4,7137.802.03
Statesville2,66211.041.73
Wilmington14,9356.182.07
  1. Charlotte, NC
  2. Business Insurance Common Coverage Options
  3. Property: The cost of business insurance in Charlotte is affected by the crime rate, as well as your risk for other types of property loss or damage due to weather events, fires, and other unforeseen circumstances. Charlotte’s crime rate is close to the national average but higher than other cities in North Carolina. You may pay more for Charlotte business insurance as a result. 
  4. Commercial auto: If your business owns a car or a fleet of vehicles, you'll need to purchase commercial auto insurance. It protects your commercial vehicles just like your personal car insurance protects your family cars. If you live in a city with a high rate of auto theft, your commercial auto insurance rates may be higher than average. 
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most North Carolina employers. Every workplace has unique risks and hazards for its workers, which is why workers' compensation rates vary significantly depending on your industry.


  1. Raleigh, NC
  2. Business Insurance Common Coverage Options
  3. Property: Business property insurance protects your assets if robbers, vandals, or even arsonists target your business. If you experience property damage due to a property crime, your insurance will help you repair or replace your business property, and can even help you stay operational while repairs are being made. If your business is in a high-crime area, expect to pay more for commercial property insurance because of the increased risks you face. 
  4. Commercial auto: Any business that owns vehicles (cars, trucks, vans, etc.) needs commercial auto insurance. It protects your business from the financial consequences of car accidents and other mishaps, such as theft, with your company-owned vehicles. If you live in an area with a high rate of auto theft, expect to pay a little more for your commercial auto insurance because of the increased risk that you face. 
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most North Carolina employers. Every workplace has unique risks and hazards for its workers, which is why workers’ compensation rates vary significantly depending on your industry. 


  1. Durham, NC
  2. Business Insurance Common Coverage Options
  3. Property: Whether property damage comes from severe weather, vandalism, or fire, it is an expensive problem for your business. Without the right commercial insurance coverage, you'll have to pay to repair damage and replace property out of your pocket. With commercial property insurance, you can protect your assets from the financial consequences of property damage, and have peace of mind. 
  4. Commercial auto: Whether you have one company car or an entire fleet, you need commercial auto insurance to protect your vehicles and drivers. The cost for coverage will be based on the number of cars you need to insure, the make and model of the vehicles, and the risk for auto thefts and collisions in your area. If your city has a high rate of auto theft, you may be required to pay more than average. 
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most North Carolina employers. Every workplace has unique risks and hazards for its workers, which is why workers’ compensation rates vary significantly depending on your industry. 


  1. Fayetteville, NC
  2. Business Insurance Common Coverage Options
  3. Property: Any number of events can cause damage to your business property, including severe weather, property crimes, or an unexpected fire. You need Fayetteville business insurance to protect your business from losses, and to help you repair the damage. You might pay slightly more for commercial property insurance in Fayetteville since the property crime rate is higher than the national average and higher than many other cities in North Carolina. 
  4. Commercial auto: Auto theft can create a major challenge for businesses that own vehicles. If a company car is stolen, your commercial auto insurance will help you replace your vehicle without taking a hit to your bottom line. Car owners in Fayetteville experience less theft than the national average, which may help to keep commercial auto insurance rates lower than average, too. 
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most North Carolina employers. Every workplace has unique risks and hazards for its workers, which is why workers’ compensation rates vary significantly depending on your industry. 


  1. Wilmington, NC
  2. Business Insurance Common Coverage Options
  3. Property: Property crime is one of the biggest threats to your business assets. If your business is robbed or vandalized, you could face a financial nightmare. Wilmington business insurance can protect you from property losses related to crime, as well as property damage due to severe weather, fire, and other unforeseen events. But be aware: If you live in an area with a high crime rate, you may pay more than average for your business insurance. 
  4. Commercial auto: Commercial auto insurance protects your company vehicles and drivers just like your personal auto insurance protects your family. Likewise, the auto theft rate in your city plays a role in what you will pay to cover your autos, including your commercial vehicles. Wilmington has a relatively low auto theft rate, which may help you save some money on your business auto insurance. 
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most North Carolina employers. Every workplace has unique risks and hazards for its workers, which is why workers’ compensation rates vary significantly depending on your industry. 


  1. Greenville, NC
  2. Business Insurance Common Coverage Options
  3. Property: Greenville is generally a safe place, but accidents and break-ins can happen when you least expect it. If your business is victimized by a property crime, your Greenville business insurance will help you pay to repair and replace lost, stolen, or vandalized property. It also helps you recover if you experience damage due to fire, severe weather, or other unforeseen circumstances. 
  4. Commercial auto: Commercial auto insurance is a necessity if your business owns a vehicle or a fleet of vehicles. Auto theft is relatively rare in Greenville, which may help keep rates low, but you still need commercial auto insurance to protect you should the worst happen. Business auto insurance also protects your drivers and your vehicles after collisions and other types of mishaps with your company cars. 
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most North Carolina employers. Every workplace has unique risks and hazards for its workers, which is why workers’ compensation rates vary significantly depending on your industry. 


  1. Asheville, NC
  2. Business Insurance Common Coverage Options
  3. Property: Asheville has a relatively high property crime rate compared to other cities in North Carolina, which may make commercial insurance rates higher than average. No matter where you do business, you need business insurance to protect your assets from the costs of theft, vandalism, and other property threats like fire and severe weather. 
  4. Commercial auto: Commercial auto insurance rates are largely determined by the number and type of vehicles you need to insure, as well as the risks you face for collisions or other types of losses. A high auto theft rate in your city may increase your business auto insurance premiums. 
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most North Carolina employers. Every workplace has unique risks and hazards for its workers, which is why workers’ compensation rates vary significantly depending on your industry. 


  1. Chapel Hill, NC
  2. Business Insurance Common Coverage Options
  3. Property: Property crime poses a serious financial risk for businesses. Would you be able to repair or replace stolen, damaged, or destroyed property if you were a victim? Commercial property insurance lets you rest easy, knowing your assets are protected. But remember, if you live in an area with a high crime rate, you may pay more than average for your coverage because of the increased risk you face. Luckily, Chapel Hill is a relatively safe city with a low property crime rate. 
  4. Commercial auto: If your business owns one vehicle or a whole fleet of cars and trucks, you need commercial auto insurance to protect your vehicles and drivers. Your premiums will be based on a variety of factors, such as the makes and models of the covered cars, what the vehicles are used for, and the risk for auto theft and collisions in your city. Auto theft is relatively rare in Chapel Hill, so business owners are likely to enjoy lower commercial auto premiums than in other parts of the state. 
  5. Workers’ compensation: Workers’ compensation insurance pays for medical bills and lost wages for workers who are injured on the job. It is required for most North Carolina employers. Every workplace has unique risks and hazards for its workers, which is why workers’ compensation rates vary significantly depending on your industry.