NEXT tops our analysis of South Carolina business insurance providers because of its strong customer service and comprehensive coverage. The Hartford and Simply Business are also reliable options for small business owners across the state.
Business Insurance in South Carolina
NEXT tops our South Carolina business insurance rankings with a MoneyGeek score of 4.63 out of 5.
Find affordable coverage that protects your small business in South Carolina below.
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Updated: August 24, 2025
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Key Takeaways
Small business owners can get the best business insurance in South Carolina from NEXT, The Hartford and Simply Business.
The best business insurance in South Carolina depends on your industry risks, number of employees and desired coverage limits.
To find the best coverage, assess your risks, compare multiple quotes, research provider service quality and maximize available discounts.
Best Business Insurance Companies in South Carolina
| NEXT | 4.63 | 4 | 1 | 2 |
| The Hartford | 4.61 | 1 | 2 | 3 |
| Simply Business | 4.50 | 3 | 5 | 1 |
| Nationwide | 4.48 | 7 | 2 | 4 |
| Coverdash | 4.42 | 5 | 6 | 2 |
| biBERK | 4.40 | 8 | 2 | 5 |
| Progressive Commercial | 4.33 | 3 | 7 | 5 |
| Thimble | 4.31 | 2 | 8 | 5 |
| Hiscox | 4.28 | 6 | 4 | 6 |
| Chubb | 4.27 | 9 | 3 | 4 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best by Coverage Type
The Hartford offers the best general liability coverage and business owner's policies (BOP) in South Carolina. If you need professional liability insurance and workers' compensation coverage, NEXT offers the best options.
| Business Owners Policy | The Hartford | 4.70 |
| General Liability | The Hartford | 4.59 |
| Professional Liability (E&O) | NEXT | 4.72 |
| Workers Compensation | NEXT | 4.61 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Best South Carolina Small Business Insurance Reviews
We detailed why these three providers ranked highest in our research on business insurance in South Carolina for small business owners. If you're looking for comprehensive coverage, here's what makes each company stand out.
NEXT
Best Customer Experience
MoneyGeek Rating
4.6/ of 5
4.5/5Affordability
4.7/5Customer Experience
4.8/5Coverage Options
Average Monthly Cost of General Liability Insurance
$106This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$71This rate is are for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
3.9/5Ranked #4 nationallyOur Survey: Likely to Be Recommended to Others
4.8/5Ranked #1 nationally
The Hartford
Best for Affordability
MoneyGeek Rating
4.6/ of 5
4.6/5Affordability
4.6/5Customer Experience
4.7/5Coverage Options
Average Monthly Cost of General Liability Insurance
$84This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$71This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Survey: Claims Process
4.5/5The Hartford ranks #1 nationally for claims process satisfactionOur Survey: Likely to Be Recommended to Others
4.5/5The Hartford ranks #2 nationally for customer recommendations
Simply Business
Best for Coverage Availability
MoneyGeek Rating
4.5/ of 5
4.5/5Affordability
4.2/5Customer Experience
4.9/5Coverage Options
Average Monthly Cost of General Liability Insurance
$99This rate is for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies.Average Monthly Cost of Workers' Comp Insurance
$73This rate is for small businesses with two employees across 79 major industries or business types and focus solely on workers' comp policies.Our Research: Policy Management
3.7/5Our Survey: Likely to Be Recommended to Others
4.2/5
Cheapest Business Insurance Companies in South Carolina
The Hartford leads South Carolina's business insurance market with rates of $86 monthly ($1,036 annually). Thimble and Simply Business round out the top three most affordable options, with competitive rates of $96 and $99 per month respectively. Compare all providers and their rates in the table below.
| The Hartford | $86 | $1,036 |
| Thimble | $96 | $1,156 |
| Simply Business | $99 | $1,190 |
| Progressive Commercial | $103 | $1,230 |
| NEXT | $103 | $1,235 |
| Coverdash | $104 | $1,246 |
| Nationwide | $105 | $1,259 |
| biBERK | $108 | $1,292 |
| Hiscox | $111 | $1,331 |
| Chubb | $122 | $1,461 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest General Liability Insurance Companies in South Carolina
South Carolina business owners can find the cheapest general liability coverage through The Hartford at $84 per month. Simply Business offers the second-lowest rate at $99 monthly. The table below compares rates from all providers.
| The Hartford | $84 | $1,011 |
| Simply Business | $99 | $1,183 |
| Nationwide | $100 | $1,200 |
| Progressive Commercial | $103 | $1,238 |
| NEXT | $106 | $1,274 |
| Coverdash | $107 | $1,278 |
| Thimble | $110 | $1,324 |
| Hiscox | $117 | $1,409 |
| biBERK | $117 | $1,410 |
| Chubb | $122 | $1,469 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on general liability policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Professional Liability Insurance Companies in South Carolina
The Hartford offers the most affordable professional liability insurance (E&O) at $73 monthly ($878 annually). NEXT provides another budget-friendly option for business owners in the state.
| The Hartford | $73 | $878 |
| NEXT | $75 | $896 |
| Progressive Commercial | $77 | $929 |
| Thimble | $78 | $938 |
| Simply Business | $79 | $942 |
| Hiscox | $79 | $952 |
| Coverdash | $80 | $960 |
| biBERK | $82 | $981 |
| Nationwide | $85 | $1,015 |
| Chubb | $91 | $1,096 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on professional liability/errors and omissions policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest Workers’ Comp Insurance Companies in South Carolina
NEXT offers the state's cheapest workers' comp rates at $71 monthly ($849 annually). The Hartford and Simply Business provide competitive rates, too, making all three solid choices for South Carolina businesses.
| NEXT | $71 | $849 |
| The Hartford | $71 | $851 |
| Simply Business | $73 | $872 |
| Thimble | $73 | $875 |
| Progressive Commercial | $73 | $880 |
| Hiscox | $74 | $888 |
| Coverdash | $75 | $899 |
| biBERK | $77 | $924 |
| Nationwide | $84 | $1,004 |
| Chubb | $87 | $1,047 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on workers’ comp policies. Survey results reflect limited sample data and may not represent all available rates in your area.
Cheapest BOP Insurance Companies in South Carolina
The Hartford offers the cheapest BOP rates in South Carolina at $117 per month ($1,404 annually). Other affordable business owner's policy providers in the state include Thimble, Simply Business and Nationwide.
| The Hartford | $117 | $1,404 |
| Thimble | $124 | $1,488 |
| Simply Business | $147 | $1,761 |
| Nationwide | $152 | $1,819 |
| Coverdash | $154 | $1,849 |
| biBERK | $154 | $1,854 |
| Progressive Commercial | $156 | $1,874 |
| NEXT | $160 | $1,920 |
| Hiscox | $173 | $2,073 |
| Chubb | $186 | $2,231 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus solely on BOP policies. Survey results reflect limited sample data and may not represent all available rates in your area.
How Much Does Business Insurance Cost in South Carolina?
Business insurance in South Carolina costs between $76 and $152 monthly, with workers' compensation being the most affordable and business owner's policies the most expensive. Rates vary based on the coverage type your business needs.
| BOP | $152 |
| General Liability | $107 |
| Professional Liability (E&O) | $80 |
| Workers Comp | $76 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
Cost of Business Insurance by Industry and Coverage
Business insurance costs in South Carolina vary significantly based on industry and coverage types. A speech therapist pays just $6 monthly for workers' compensation, while pressure washing businesses pay $1,401 monthly for a business owner's policy.
Data filtered by:Results filtered by:
Select
Coverage Type:Business Owners Policy
Select
Industry:Accountants
| Accountants | Business Owners Policy | $34 |
How Did We Determine These Rates?
These rates are for small businesses with two employees across 79 major industries or business types and focus on four coverage types: general liability, professional liability/E&O, workers' comp and business owner's policy. Survey results reflect limited sample data and may not represent all available rates in your area.
What Factors Influence My Costs?
Want to know why your premiums are so high? We listed several factors that impact your premiums:
Industry Risk Level
Your business type has the biggest impact on what you'll pay. Construction companies face much higher rates than consultants because insurers know construction sites have more accidents. For example, a contractor pays hundreds monthly, while a consultant pays just tens of dollars.
Geographic Location and Weather Risks
Your location in South Carolina impacts your rates, especially for property coverage. Coastal businesses in Charleston and Myrtle Beach pay more than those in Columbia or Greenville due to hurricane risks. According to NOAA data, South Carolina experienced 47 billion-dollar weather disasters between 1980 and 2023, pushing insurance costs higher for businesses statewide.
Business Size
The more employees you have, the more you'll pay. Workers' comp is calculated per $100 of payroll, and general liability considers your revenue and customer volume. A landscaping crew with 10 workers pays far more than someone working alone from home.
Claims History
Past claims stick with you for years and can spike your premiums quickly. A single liability claim impacts rates across multiple coverage types. Maintain a claims-free record, and insurers will reward you with better pricing.
Coverage Types and Limits
Your premium reflects the coverage you select and how much protection you want. Higher limits mean higher costs, though business owner's policies can save money by bundling multiple coverages into one package.
Years in Business
New businesses pay higher premiums because insurers can't evaluate their track record yet. Once you've operated for a few years with a clean claims history, your rates drop as you prove yourself a reliable risk.
Professional Certifications
Getting safety training or professional licenses often reduces what you pay, particularly for higher-risk work. OSHA certifications tell insurers you're serious about preventing accidents; many offer discounts for these credentials.
South Carolina Business Insurance Buying Guide
Running a business takes most of your attention, and getting business insurance shouldn't add to your stress. Our guide breaks down everything you need to know about business insurance in South Carolina, helping you make confident coverage decisions.
What Coverage Is Required?
We've researched all South Carolina business insurance requirements to save you time. Check the section below for a complete breakdown of what coverage your business needs.
Workers' Comp
South Carolina requires workers' compensation insurance for most businesses, with some exemptions for very small operations. You must carry workers' comp if you have four or more employees regularly employed at the same time. This higher threshold makes South Carolina more business-friendly than states requiring coverage with just one employee. Corporate officers can opt out if they own at least 10% of the company, and sole proprietors and business partners are exempt unless they choose coverage. However, construction businesses and those with government contracts may need coverage regardless of employee count.
Commercial Auto Insurance
Small businesses that own vehicles or require employees to drive for work need commercial auto insurance. South Carolina requires all vehicles to carry at least $25,000 per person and $50,000 per accident for bodily injury, plus $25,000 for property damage. You'll also need uninsured motorist coverage at the same limits, which protects you if you're hit by a driver without insurance.
Unemployment Insurance
South Carolina requires unemployment insurance for businesses that pay wages of $1,500 or more in any quarter or employ one or more workers for 20 weeks during a calendar year. Register with the the state's Department of Employment and Workforce and pay quarterly contributions based on your payroll and experience rating.
Professional Liability Insurance
If you hold a professional license in South Carolina for medical, legal, architectural or engineering work, you'll typically need professional liability insurance. Healthcare providers must carry malpractice coverage, while other professionals should check with their licensing boards for specific requirements. The coverage amounts vary by profession and practice type.
Contractor Bonds and Insurance
If you have a contractor license in South Carolina, you'll need to carry liability insurance and post a surety bond depending on your work type. General contractors need at least $100,000 in liability coverage, while specialty contractors have varying requirements. Home improvement contractors may need additional bonding to protect customers if they don't complete work as promised or follow licensing rules.
What Coverage Do We Recommend?
South Carolina keeps business insurance regulations minimal, which puts the burden on you to choose wisely. We've analyzed the best coverage options for the state's leading industries:
Manufacturing | General liability, product liability, workers' compensation, commercial property, business interruption, automotive manufacturing coverage, hurricane protection, tornado coverage, supply chain interruption | South Carolina manufacturers in automotive, textiles and chemicals face hurricane damage, tornado risks, and automotive supply chain disruptions. BMW and other automotive plants require specialized coverage for just-in-time delivery and precision manufacturing processes. |
Construction/Contractor | General liability, workers' compensation, commercial auto, builder's risk, professional liability, hurricane coverage, tornado coverage, flood coverage, coastal construction coverage | South Carolina construction faces hurricane damage, tornado risks and coastal flooding challenges. Coastal construction projects require specialized wind and flood coverage, hurricane-resistant building standards and storm surge protection for beachfront properties. |
Marine | Marine general liability, hull and machinery, commercial fishing vessel, shrimp boat coverage, charter boat coverage, hurricane coverage, storm surge protection, pollution liability | South Carolina marine businesses face hurricane damage, shrimp boat accidents and charter fishing liability. Commercial fishing and recreational charter operations require specialized coverage for vessel damage, crew injuries and tourist liability during hurricane season. |
How to Get the Best Cheap Business Insurance in South Carolina
Finding the right business insurance in South Carolina coverage feels overwhelming when running a small operation. You can cut through the noise and secure financial protection that fits your budget and business needs using these steps:
- 1
Assess Your Actual Risks First
Start by evaluating real risks specific to your South Carolina business operations. A Charleston restaurant needs strong property and liability coverage for customer incidents, while a Columbia-based web designer might focus more on professional liability and cyber protection.
- 2
Get Quotes From Multiple Insurers
Insurance companies assess risks differently, so you'll see price differences even for the same coverage. A plumbing contractor can find much lower rates elsewhere by comparing at least three providers, sometimes saving hundreds or thousands annually.
- 3
Choose Providers Based on Service Quality
Research claims handling, financial stability and industry expertise before deciding. A Myrtle Beach hotel needs an insurer with strong hurricane coverage experience, while a Greenville manufacturer wants a quick equipment breakdown response.
- 4
Maximize Every Discount
Combine policies where possible and maintain good safety records to reduce costs. A local retail store can save by bundling property and general liability coverage, plus installing security systems.
- 5
Review Coverage Annually
Business needs change with growth and market conditions. A small Spartanburg cleaning service that expanded its client base needs updated liability limits, while adding vehicles requires adjusting commercial auto coverage.
South Carolina Business Insurance: Bottom Line
Based on our analysis, NEXT, The Hartford and Simply Business are South Carolina's best business insurance providers. However, what's ideal for you depends on your business risks and employee needs. Research each company's service quality, maximize discounts and select coverage that fits your budget.
Small Business Insurance in South Carolina: FAQ
Finding the right business insurance in South Carolina raises many questions for small business owners. Below, we answer the most frequently asked questions:
What business insurance is required by law in South Carolina?
South Carolina requires workers' compensation insurance for businesses with four or more employees. Commercial auto insurance is mandatory with minimum limits of $25,000/$50,000/$25,000. Professional contractors must carry surety bonds.
How much does business insurance cost in South Carolina?
Business insurance in South Carolina ranges from $76 to $152 monthly, depending on coverage. Workers' compensation is the most affordable at $76, while BOPs cost $152. Actual costs depend on your industry, business size and claims history.
Which company has the cheapest business insurance in South Carolina?
The Hartford offers the lowest rates at $86 monthly in South Carolina, with Thimble ($96) and Simply Business ($99) following behind. Always compare quotes since rates vary based on specific risks.
What business insurance do I need for my small business in South Carolina?
Start with general liability to protect against customer injuries and property damage. Include workers' compensation for employees and commercial auto for business vehicles. Retailers need property coverage, while contractors require builder's risk and equipment insurance.
What is the best business insurance company in South Carolina?
NEXT leads business insurance providers in South Carolina with a MoneyGeek score of 4.63 out of 5. The Hartford and Simply Business are also excellent choices. Compare multiple providers to secure coverage that matches your business requirements.
Do small businesses in South Carolina need workers' compensation insurance?
South Carolina law requires workers' compensation insurance for businesses with four or more employees. Some government contractors must provide coverage regardless of company size.
What factors affect business insurance costs in South Carolina?
Your industry significantly impacts costs. Construction businesses pay higher premiums than retail stores. Coastal locations face steeper rates due to hurricane risks. Employee count affects workers' comp costs, while claim history and safety certifications influence rates.
How do I get cheap business insurance in South Carolina?
Assess your needs carefully and compare quotes from top-rated insurers like The Hartford and NEXT. Bundle policies and implement safety programs to qualify for additional discounts.
What's the difference between general liability and errors and omissions (professional liability) insurance in South Carolina?
General liability insurance covers property damage and physical injuries. Professional liability (E&O) covers financial losses from service mistakes, poor advice or missed deadlines. Service businesses often need both coverages.
Can I get business insurance quotes online in South Carolina?
Yes, top insurers provide online quotes in South Carolina. For complex businesses like contractors, an agent may be needed to secure specialized coverage like pollution liability.
How We Scored the Best Business Insurance Companies in South Carolina
Small business owners in South Carolina need reliable coverage that protects their operations without breaking their budgets. We designed our methodology to help South Carolina entrepreneurs navigate challenges like hurricane risks and the state's workers' compensation laws.
We studied thousands of quotes from 79 industries across four coverage types for a two-employee firm with $300,000 annual revenue and $150,000 payroll. All policies included $1 million per occurrence and $2 million total per year, with BOPs adding $5,000 business property coverage.
- Affordability (50% of score): We compare premiums across multiple coverage types, factoring in South Carolina's unique risks and state-specific regulations. Lower rates earn higher scores.
- Customer experience (30% of score): Our analysis weighs claims handling, policy management tools and customer support quality based on verified policyholder feedback.
- Coverage options (15% of score): We evaluate available endorsements, industry-specific coverage and flexibility in policy customization for South Carolina businesses.
- Financial strength (5% of score): We assess insurers' ability to pay claims using ratings from independent agencies like AM Best.
This approach helps South Carolina small business owners compare insurers on what matters most: affordable premiums, reliable service, adequate coverage and financial stability.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- National Centers for Environmental Information. "Billion-Dollar Weather and Climate Disasters." Accessed August 24, 2025.
- Trustpilot. "NEXT." Accessed August 25, 2025.
- Trustpilot. "Simply Business US." Accessed August 25, 2025.