Some types of Business Insurance/Commercial Insurance that you will need to consider:

General Liability – This commercial insurance coverage is fairly self-explanatory, but has some exclusions that may demonstrate an additional coverage necessity. The “tricky” part is how you represent your business to the insurance company. You must notify the company regarding all of the services you plan to cover under the business insurance policy OR there could be fatal risks to your venture.

Commercial Auto Insurance – Cover your vehicle for business use – or it may be excluded from your personal auto Insurance Policy. The Commercial Auto Policy can provide personal protection in the event of an auto accident. Unless your company is named on a Personal Auto Insurance Policy, you can expect that the cost to defend and/or settle could be the responsibility of your company. This commercial insurance is essential for vehicles used "in the field."

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Professional Liability – This commercial insurance coverage provides for payment to a 3rd party if you are liable for Bodily Injury or Property Damage arising out of the rendering of a professional service (this is a standard exclusion from General Liability Insurance)

Workers Compensation – In South Carolina, our Statutory requirement is 4 or more employees requires you to carry Workers Compensation Insurance Coverage. Click here to link to our other article regarding the types of requirements for this coverage:

https://www.lamplighterinsurance.com/news/2014/10/who-needs-workers-compensation-insurance-in-SC

Bonds – Contractors license bonds, payment and/or performance bonds, and other types of bonds may be necessary to provide someone with “peace of mind” to hire you or your company.

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