Insurance 101 For New Charleston Business Owners 

If you want to start a small business in Charleston, South
Carolina, you should not be afraid to take a few risks.  The economy in
Charleston is the best it has been in many years. In many cases, taking a
risk is the only way that you can truly achieve success. However, this doesn't
mean that you should take risks for no reason. In fact, it is smart to reduce
risks wherever and however possible. This is where South Carolina business
insurance comes into play. Read this article to learn more about the Insurance
101 for new business owners.

Is Business Insurance
Required in Charleston, South Carolina?

Business insurance is absolutely a necessity in Charleston,
South Carolina and not a luxury. This is particularly true if you have
employees. Disability insurance and workers compensation insurance are
examples of insurance policies that may be required by law if you have employees.
If you have a company car, you may be required to have auto insurance. In other
cases, insurance coverage can be necessary to get a business loan, local business
license, supplier or customer contract, or lease.

In most cases, there are no regulations, laws, or rules that
require that business owners make smart choices to protect their business. Due
to this, about 40 percent of all small businesses don't possess insurance. Some
other examples of business insurance includes, flood insurance, renters
insurance and car insurance.

What's The Risk?

Many small businesses don't have insurance due to the cost.
Please remember, these costs can vary by state and each state can offer
different insurance discounts. These businesses haven't taken into
consideration what the cost of not having insurance might be. The truth is that
all businesses potentially face risks that could be devastating financially
without insurance protection. Of course, the business risks depend on the type
of business. However, there exists no business that is 100 percent immune to
risks, even here in Charleston, South Carolina. Some examples of risks include
employee accidents, theft by an employee, malpractice or negligence, data
breaches, death of a key executive or business partner, and more.

If you don't have the correct insurance coverage, any of these
situations could end up ruining your business or jeopardizing your assets. The
last thing you want is to close your business as quickly as you started it.

What's the solution for insurance in Charleston South Carolina?

Let Harrell Insurance be your goto insurance company in South
Carolina. We guarantee the best coverage, competitive insurer rates and down
home customer service to protect your home, business and all of life's valuable
assets.