South Carolina General Liability Insurance – SC
South Carolina General liability insurance is necessary coverage to have for most businesses big or small.
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This type of insurance shields your business against many claims stemming from injury to third parties or your customers.
The fact is that many businesses face some level of risk, which is why they must have general liability insurance.
This type of coverage can help protect your business against claims related to malpractice or bodily offenses.
General liability insurance in South Carolina is offered in many types of coverage, and the one you require will depend on the type of business you operate.
For example, if you have a construction business, then you will require a higher level of general liability insurance coverage.
5 Important Reasons Why You Need General Liability Insurance in South Carolina
One of the many common questions business owners ask is do I really require general liability insurance? And the short answer is Yes!
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As a business operator, you should already know that running any size of a business is already risky.
General liability insurance in South Carolina not only covers your business against claims arising from injury and property damage but also from any claims as a tenant if you are renting a property.
Further, it provides coverage for not only your business but also your staff against claims originating from injury or property damage to third parties.
Apart from being an all-important part of your business, here are 5 great reasons your business should have general liability insurance.
Workers’ Compensation Insurance in South Carolina
If you are a handyperson, you already are aware of the cash you can lose if you fall ill.
As a handyman, you are not covered by government workers’ compensation perks, therefore you should explore SC handyman insurance.
Research indicates that injuries to independent workers in South Carolina were increased by a whopping 12 percent.
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When you pay for South Carolina general liability insurance, you are shielded financially for medical costs related to the injury at the worksite.
Depending on the general liability insurance policy you choose, you may also be eligible for compensation for the time you are off work.
Third-Party Bodily Injury Protection
This is perhaps the most important reason to buy general liability insurance in South Carolina.
If your company runs services that can cause harm to others including customers, then getting general liability insurance should not be an option.
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One excellent example of this is SC dog walker insurance, which covers your pet sitting business if the animal causes hurt to others.
Another example is when you are fixing your client’s drywall, and they fall over your tools, then you will be accountable for their injury.
If you invest in general liability insurance in South Carolina, your policy will pay for the fees of these claims.
Third-Party Property Damage
Another significant reason to get general liability insurance in South Carolina is to shield your business from third-party property damage.
For example, you are fixing your customer’s roof, and you mistakenly spoil an expensive vase, then you will have to pay for the damages.
Depending on the cost of what you break, you may have to pay for these claims from your own cash, that is if you do not have a general liability insurance policy.
South Carolina General liability insurance can help shield your business against any lawsuits stemming from claims that you poorly deliver services as promised.
Things such as poor workmanship can be included under a general liability insurance policy.
General liability insurance can also oftentimes include professional liability insurance, so speak to your insurance agent to check if they provide this kind of insurance.
While general liability insurance covers your business against myriad different sorts of claims, professional liability insurance is more specific towards errors you make in your business services.
If you are manufacturing and selling things under your own company, then it is wise to have general liability insurance in South Carolina, and here is why!
If a client claims bodily harm due to the use of your establishment’s products, then general liability insurance will cover you against these sorts of claims.
And if you sell your products online, then it is a smart idea to check out SC eCommerce insurance to better protect your interests.
Take, for example, your organization is selling facial creams, and a customer has an allergic reaction to your product, then general liability insurance can help cover costs if you get sued.
What is Not Protected Under General Liability Insurance?
Depending on the type of general liability insurance you choose, there are few things that may not be covered under your insurance terms.
The first thing that may not be protected is against lawsuits not related to your services. Employee illnesses may also not be covered under your general liability insurance terms.
As a business, you may be hauling several expensive tools in your car or even at your end user’s property.
If these accessories do get stolen, you will have to get specialized general liability insurance.
In the incident of theft of your personal property, your truck insurance policy will not protect these tools against theft.
Another area where general liability insurance may not offer coverage is if you make glitches in your services.
When investing in general liability insurance, you should pick your coverage limit wisely. Because your general liability insurance policy will not pay costs that exceed your policy limit.
Different Forms of General Liability Insurance
General liability insurance is a broad term for many types of insurances, most notably:
General Liability Insurance
Also referred to as CGL commercial liability insurance or BL form of insurance covers your business against claims that cause bodily injury or property damage to third parties.
Furthermore, general liability insurance also covers your business against reputational harm or mistakes in your advertising.
A few examples of things general liability insurance will shield your business against include property damage, advertising errors, and reputational harm.
Professional Liability Insurance PL
Also known as errors and omissions insurance, professional liability insurance comes claims against your company that arise from errors in the services you offer.
For example, if you are a financial broker that provides a client with erroneous figures, and they sue you, professional liability insurance will cover the legal expenses.
If you provide professional services to people, then you should as your insurance agency about professional liability insurance.
Employer Liability Insurance
If your company has a lot of staff, opting for employee liability insurance is a wise idea.
This form of insurance shields your staff against any injury they may incur at the workplace.
Additionally, employer liability insurance can also pay for disability benefits, missed wages, and funeral costs.
What is the Price of General Liability Insurance?
The charge for general liability insurance varies across insurance providers. It depends on many different factors including the type of business you are operating.
For example, if you are running a roofing business, then the charge for your premiums will be above that of other types of businesses, hence you should explore SC roofing insurance.
But to give you a rough idea, general liability insurance costs $40 per month, but a little lower if you choose to pay annually.
High-risk businesses can expect to pay higher premiums such as landscaping categories.
You can save funds if you pay for your insurance policy in full annually.
Further, you can also save funds on your general liability insurance policy if you club all your policies under one insurance agency.
You should also minimize your business claims on your general liability insurance policy.
How to Find General Liability Insurance Companies in South Carolina?
When looking for the best general liability insurance provider in your area, it is important to check the organization’s reputation.
You should then select your coverage limit, where the higher the coverage, the higher the charge of premiums.
But it is critically important that you select the right amount of coverage.
If you do not know about the coverage limit you need, speak to your general liability insurance agent to help evaluate your business risks for the right coverage limit.
But $1 million and $2 million are the most chosen coverage limits of general liability insurance.