Mount Pleasant Business Insurance

(Everything you need to know -and more)

Written by Meg Stefanac
Written by Meg Stefanac

Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to

Sidney Nebraska business insurance

The historic town of Mount Pleasant, SC is growing rapidly. As the population increases, so too does the need for local businesses to meet the needs of the community. From retail stores to roofing companies, many new companies have been formed here in the last two decades. Business insurance protects these companies from large financial losses when disaster strikes.

If you are among the business owners in Mount Pleasant, you will want to be sure that your company is suitably covered by the right commercial insurance products. Local independent insurance agents can take away the guesswork and help you build a comprehensive and affordable business insurance plan. Find an insurance agent near you to get started.

Why Is Liability Insurance So Important for Mount Pleasant Businesses?

Considering that the majority of liability lawsuits against businesses in the US result in judgments exceeding $1 million, having business liability insurance can prove extremely beneficial to your company. Commercial general liability insurance (CGL) is one of the most important coverages a business can have. It is part of all commercial insurance policies.  CGL is designed to cover your business against the costs associated with many of the common liability risks it faces. Its two main coverage components are:

  • Premises liability insurance: This can cover third-party injuries, illnesses and property damage if they occur as the result of an accident on your business premises. 
  • Product liability insurance:  This can cover third-party injuries, illnesses or property damage caused by defects in products your company produces, sells or promotes.

Other types of commercial liability insurance that may be right for your particular Mount Pleasant business include:

  • Employment practices liability insurance: This can cover your business against accusations of illegal business practices such as wrongful termination, discrimination, breach of contract and harassment.
  • Cyber liability insurance: This can cover your business’s liabilities if hackers break into your computer system and steal sensitive customer data such as credit card numbers, Social Security numbers and personal data.
  • Commercial vehicle liability insurance: This can cover your business’s liability expenses if one of your drivers causes an accident while driving a company vehicle. It is required if your business owns and operates a vehicle or fleet of vehicles.
  • Environmental liability insurance: This can cover clean-up costs and damages if an accident results in toxic substances used or produced by your company polluting the land, water, or air.

These are just some of the many commercial liability products that are available to you. An independent insurance agent can help you identify all of your company’s various liability exposures and can recommend the appropriate insurance products to cover against them.


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What Kinds of Property Does Mount Pleasant Business Insurance Cover?

Commercial property insurance can pay to repair or replace your business property if it is damaged or destroyed by a covered event. Covered assets include computers, furniture, signs, display cases, inventory, supplies, tools, machinery, and more. Adding inland marine insurance to your policy package can ensure that your portable business property is covered whenever it is in transit or stored at a job site.Mount Pleasant businesses are most at risk for damage caused by such hazards as hurricanes, tropical storms, hail, and accidental fires. A fire has the potential to destroy all of your business property, so it is important to ensure that your coverage levels are high enough. 

Flood damage can also present a risk to Mount Pleasant businesses, particularly for those that are located near the Wando River, Horlbeck Creek, and Foster Creek. Of course, because this is a coastal town, every business is at risk for flooding during storm surges caused by hurricanes. It is important to be aware that property damage caused by floods is not covered by business insurance. For this, you will need to supplement your policy package with a flood insurance policy through the National Flood Insurance Program (NFIP). A local insurance agent can help you get this coverage. 

How Can Business Interruption Insurance Benefit Businesses in Mount Pleasant, SC?

Business interruption insurance is designed to provide your company with a continuation of income if it is forced to close for an extended period due to damage caused by a covered event. This insurance enables your business to continue to pay regular monthly expenses such as loan payments and employee salaries until you can resume normal business operations.

Disasters in South Carolina

  • Number of federally declared disasters in SC since 1953: 38
  • Most common reasons for declared disasters: Hurricanes 
  • Average number of tornadoes in SC per year: 27

If high winds from a hurricane cause widespread power outages that are not resolved for weeks, your business may not be able to operate. Business interruption insurance ensures that it will continue to have the revenue it needs during such times. Talk to a local independent insurance agent to learn more about this important coverage.

Does Your Mount Pleasant Business Need Workers’ Compensation Insurance?

If your employees are injured on the job or suffer from an occupational illness related to the work they do for you, your company is responsible for covering the associated expenses. Workers’ compensation insurance is designed to cover the cost of their medical treatment and lost wages. The cost of workers’ compensation depends mainly on the types of jobs your employees do. Companies where employees have a high risk of sustaining serious injuries, such as construction and trucking firms, will pay more for coverage than companies with a low risk of employee injuries, such as administrative office facilities and financial institutions.

In South Carolina, all employers that have paid at least $3,000 in overall payroll in the previous year and have at least four employees are required to carry workers’ compensation insurance. When it comes to the necessity to cover employees, there are a few exceptions. It is not necessary to buy coverage for:

  • Sole proprietors, LLC members or partners
  • Agricultural employees
  • Railroad/railway employees
  • Textile hall corporation employees
  • Certain commission-paid real estate agents

Talk to a local insurance agent to learn more about purchasing workers’ compensation insurance for your Mount Pleasant business.


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Our independent agents shop around to find you the best coverage.

What about Insurance Products for Employee Benefits?

Human resource professionals have demonstrated that offering your employees benefits such as paid vacation, life insurance and health insurance can help your business attract and retain ideal employees.

  • Annual amount spent on healthcare coverage by SC businesses: $878,428,000
  • Ranked 32nd for highest medical insurance costs in the US
  • Average annual cost of health care in SC: $5,557/person or $15,780/family

Unfortunately, rising health insurance costs often make shopping for this type of coverage seem daunting. The good news is that independent insurance agents can help.

These agents can explain the various types of health insurance coverage you can purchase for your employees so you can make an informed decision about which is the best to choose. They can then shop around to help you find the coverage you want at the most affordable rates. If you are considering adding insurance products to your employee benefits package, be sure to consult a local independent insurance agent.

Why Talk to an Independent Insurance Agent in Mount Pleasant, SC?

Business owners in Mount Pleasant can benefit from working with a local independent insurance agent. These experienced insurance professionals can help you identify the various risks faced by your business, and can recommend the right insurance policies to cover those hazards.

Find an insurance agent in or near Mount Pleasant to discover how easy it can be to build a comprehensive, yet affordable, business insurance policy package.

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