Property & Liability Insurance for Lowcountry South Carolina Businesses
Businesses of all sizes need commercial insurance coverage that reduces risk, fits your budget, and protects your assets. The independent agents of Lowcountry Insurance will sit down with you to discuss the type of insurance coverage your business needs.
While businesses of all types need insurance, the combination of coverage may differ. Almost every business needs two key types of insurance: commercial property insurance and commercial liability insurance. Our agents can help you find the coverage to meet your business’ unique needs and budget.
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Commercial General Liability Insurance
One of the biggest exposures facing South Carolina small businesses is the risk of liability. For example, if someone slips and falls on your business premises, you could be found liable. If you sell tainted food that causes an E. coli outbreak, the damages could be catastrophic. If you manufacture a product that causes a consumer’s injury or death, you could be found negligent. If your employee gets in a car accident while driving in the scope of business, you could be held responsible.
These are just a few of the many types of liability claims that can impact even the most safety-conscious businesses. Unfortunately, legal expenses and damages can add up fast, deteriorating your loss ratio and making you an undesirable risk for commercial insurance company underwriters.
Do you need Employment Practices Liability Insurance (EPLI)?
In recent years, an increasing number of employees have filed lawsuits against their employers for unlawful employment practices. Any company with employees can potentially be sued for:
- Wrongful termination or discipline
- Sexual harassment
- Emotional distress
- Discriminatory hiring or promotion practices
For this reason, it’s a good idea to secure employment practices liability insurance. Ask your business insurance advisor if your business owners policy includes EPLI protection. If not, ask us for a free insurance quote.
Professional Liability Insurance
Businesses that provide advice face the risk of professional liability. For example, accountants, lawyers, real estate agents, and financial advisors all provide their clients with professional advice. If that advice results in financial loss and the client sues for damages, the business could be found liable.
If the business is not properly insured, the owner’s personal assets are at risk. For that reason, it’s important to have professional liability insurance to protect against the unique exposures of your business.
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