Business Owners Policy in North and South Carolina

There are many entrepreneurs and small business owners taking advantage of the opportunity offered in South and North Carolina. With many of these business owners being new to ownership, there are some questions around business owner insurance and what it means. Below are the requirements and what you can expect with a business owner policy from Carolina Premier Insurance LLC in Mint Hill, NC today.

What is Required?

As a business owner in South Carolina or North Carolina, you will have two requirements for insurance in your company:

Commercial Auto Insurance
Workers Compensation Insurance

If you own a business where your employees have to drive one or more of your vehicles, then you are required to have commercial auto insurance on these vehicles as opposed to standard automotive policies. This protects your employees who are driving, whether they are responsible for an accident or not.

Also, if you have more than one employee in your business working, you are to carry workers' compensation insurance. Should the employee be hurt while on the job, they can get financial assistance for their medical needs. They may also receive a stipend or partial payment for extended absences. The benefit is that they will not sue you if they access the worker's compensation coverage.

Add To Your Policy

As a business owner, you can add other features to your policy. The following are the most common policies that business owners carry regularly:

Liability Coverage
Business Income Protection
Property Protection

Depending on the type of business you have, one or more of these policies may get you the coverage you are looking for. These policies protect everything from the structure you own or rent, as well as the property that is located within.