Business Insurance in South Carolina FAQ - Quick Answers

Your business insurance premiums in South Carolina will be unique to your operation, making it impossible to know what your rates are without quotes. However, here are the main risk factors carriers use when calculating your costs:

  • 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

Business insurance is required in South Carolina under the following policies:

  • Workers' compensation insurance: Pays for the injuries of an employee hurt on the job. Mandatory when you have 1 or more employees.
  • Business auto insurance: Pays for a loss resulting from an auto accident with a company-owned vehicle. Must abide by state car insurance laws.

In South Carolina, your business insurance can cover a multitude of risks, and each operation will be different. Here are some policies that could apply to your business:

General liability insurance in South Carolina will be your primary policy for your business. Check out what it covers below:

Health insurance for your business can be found through a local independent insurance agent. In South Carolina, you're not required to offer health coverage if you have fewer than 50 employees. 

In South Carolina, Hiscox, Nationwide, Travelers, and Hanover are rated among the best insurance companies for small businesses. This is because of their excellent customer service and robust coverage offerings.

Do You Know What Your Business Insurance Covers in South 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
Aiken3,3855.243.17
Anderson3,4678.264.58
Bluffton2,2541.410.4
Camden1,1125.393.87
Charleston16,0502.113.59
Clemson1,1381.545.69
Clinton5476.782.62
Columbia13,0806.856.69
Conway1,8613.452.11
Fort Mill1,4551.270.09
Mount Pleasant10,0531.231.1
Simpsonville1,8903.131.61