Owning your own business comes with an incredible amount of risk. Most small businesses fail within 10 years. The best protection you have is commercial insurance. At Ingram Insurance in Cheraw, SC, we know commercial insurance, and we are in a position to find the best policies to meet your needs. We can offer more choices, and we will match you up with the right coverage.

Important commercial coverage options

Commercial property insurance

It is an absolute necessity for any business to have commercial property insurance. Commercial property insurance covers the building if you own it, but that isn’t all it covers. It covers all the things that you need to do business. It can be tools, machines, office equipment, display units, inventory, raw materials, etc. With this insurance coverage, you will be able to get back into business quickly without having to lose a lot of income. 

Commercial liability coverage

Businesses get sued, it is the nature of being in business. It can be a dissatisfied customer, a disgruntled employee, or someone who gets injured while visiting your location or by a product you produce. If you are involved in legal action, it can be expensive for legal assistance as well as having to pay any judgment there might be against you. It could be enough to put you out of business if you don’t have the available cash to pay for it. 

Commercial auto insurance

If your business owns even one vehicle, you need to have commercial insurance. If you use a personal vehicle to transact business, your insurance may not cover you if you are in an accident. It isn’t worth the risk. 

Workers Compensation 

In South Carolina, if you have four employees or more, you must cover them with workers’ compensation insurance. 

Give Us A Call

Contact Ingram Insurance in Cheraw, SC when you are ready to get the coverage your business needs. 

Are you interested in getting liability insurance? If you are, it’s important that you understand the difference between general liability and professional liability insurance. Knowing this will help you get the liability coverage that is right for you. We at Ingram Insurance, serving the greater Cheraw, SC community, want to help you make the right liability insurance choices. 

Here we break down the difference between general liability and professional liability insurance:

General Liability Insurance

To start off, liability insurance covers your company against liability risks. It provides you with protection against claims resulting from situations where you could be held liable.

As for general liability, it covers physical risks.

General liability helps cover:

• Bodily injury claims 
• Medical payments
• Property damage
• Reputational harm
• Advertising errors

Therefore, most small business owners will benefit from general liability insurance coverage. It covers the common risks that may occur in business. 

Professional Liability Insurance

Professional liability insurance covers you if you’re found liable for the professional services you provide. This includes professional advice and contractual services. In addition, it will cover you against claims of negligence or misconduct. 

This includes:

• Negligence
• Bad advice
• Delays
• Errors
• Loss or theft of service

The Main Difference

Basically, the main difference between these two liability coverages comes down to what is covered. While general liability covers physical risks, professional liability covers more abstract risks. 

Furthermore, professional liability covers your business from risks not covered by general liability insurance. Therefore, if your business provides contractual services or offers professional advice, you should consider professional liability. 

When choosing liability coverage, you need to consider your business services and needs. You want to protect your business in case of liability. 

Get The Right Coverage Today

Contact our team of insurance experts at Ingram Insurance in Cheraw, SC to find out more about general liability and professional liability.