CSP Insurance Services was founded in 1939, when Clifford Cormell joined Earnest Streett to sell insurance in Florence. More than 80 years later, we still answer the phone ourselves. No call centers, no chatbots — just a local team that knows your name and your policy.

We compare several carriers to find a policy that fits you, not one company's products.

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80+ years local experience

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A construction project in South Carolina can go sideways fast. A summer storm rips through a half-framed commercial building in Myrtle Beach. A fire breaks out in a renovation project in Columbia. Vandals hit a job site in Florence over a long weekend. Without the right insurance in place, the financial hit lands squarely on whoever is funding the build, and it can be devastating. Builders risk insurance exists to prevent exactly that scenario, protecting structures during the vulnerable period between groundbreaking and certificate of occupancy.


Here's the thing most contractors and property owners get wrong: they assume their general liability or property insurance will cover a building under construction. It won't. Standard property policies typically exclude structures that aren't finished, and general liability covers third-party injuries, not damage to the project itself. That gap is where builders risk coverage steps in, and understanding how it works, what it covers, and how claims actually play out can save your business tens or hundreds of thousands of dollars. Whether you're a general contractor managing multiple builds or a business owner overseeing a single commercial project, knowing the details of coverage, limits, and claims before you break ground is the only smart play.

What is Builders Risk Insurance and Why It Matters

Builders risk insurance is a specialized property policy that covers buildings and structures while they're under construction, renovation, or major remodeling. It protects against physical loss or damage to the structure, materials, and sometimes equipment stored on-site. The policy period typically runs from the start of construction until the project is completed or occupied, whichever comes first.


This isn't a luxury policy. For any project with significant capital at stake, it's a necessity. Lenders often require it before releasing construction financing, and many project contracts mandate it as well.

The Core Purpose of Course of Construction Coverage

The formal name you'll see on many policies is "course of construction" coverage. The core purpose is straightforward: protect the financial investment in a building project from covered perils during the period when the structure is most vulnerable. A half-built building has no roof to keep out rain, no locks to deter thieves, and no fire suppression system.


Course of construction coverage fills a specific gap that no other policy type addresses. It covers the building as it's being built, including materials on-site, materials in transit, and sometimes temporary structures like scaffolding. Once the building is complete and occupied, a standard commercial property policy takes over.

Who Should Buy the Policy: Owners vs. Contractors

This is one of the most common points of confusion. Either the property owner or the general contractor can purchase the policy, but who buys it matters for claims and coverage continuity.


Property owners who purchase the policy maintain direct control over coverage terms and limits. Contractors who purchase it can roll the premium into their bid, but the owner needs to verify the coverage is adequate. On larger commercial projects in South Carolina, the owner typically buys the policy and names the contractor and subcontractors as additional insureds. For smaller residential builds, the contractor often carries it. The key is making sure someone has it, and that the coverage amount matches the project's completed value.

Your CSP agent

Lawson Walker, CIC

Insurance Sales

CSP Insurance Services is a fully licensed independent insurance agency serving individuals, families, and businesses across South Carolina.

From our home in Florence, we proudly serve clients in Florence, Myrtle Beach, Rock Hill, Columbia, and communities throughout South Carolina. As an independent Trusted Choice agency, our team works with a wide range of top-rated carriers to provide personal and commercial coverage — home, auto, business, life, and more — tailored to the real needs of the people and businesses we protect.

Fine Arts and High-Value Specialized Goods

Galleries, auction houses, and even corporate offices with art collections need specialized coverage. Standard property policies cap fine art at absurdly low limits, sometimes $2,500 per item. A fine arts floater provides agreed-value coverage, meaning you and the insurer agree on the item's worth upfront. If it's damaged or stolen, that's what you get paid.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Feature Admitted (Standard) Carriers Non-Admitted (E&S) Carriers
State regulation Fully regulated; rates filed with state Exempt from rate filing; flexible pricing
Guaranty fund protection Yes: state fund covers claims if carrier fails No: no guaranty fund backstop
Policy forms Standardized (ISO forms common) Manuscript or custom forms
Risk appetite Prefers low-to-moderate risk Accepts high-risk and unusual exposures
Premium cost Generally lower Typically 20-75% higher
Surplus lines tax Not applicable Buyer pays state surplus lines tax (varies 2-5%)
Speed of placement Standard timelines Can be faster or slower depending on complexity

Computer Equipment and Data Storage

Businesses increasingly rely on portable tech: laptops, tablets, external drives, and mobile servers. A computer equipment floater covers these items when employees take them off-site, whether that's a sales rep carrying a laptop to a client meeting in Columbia or a nonprofit transporting presentation equipment to a fundraiser. Some policies even cover the cost of data restoration, which can be more expensive than the hardware itself.

Defining Coverage: What Is and Is Not Protected

A builders risk policy isn't a catch-all. It has specific covered perils, specific exclusions, and optional endorsements that can expand protection. Understanding these distinctions before a loss occurs is critical.

Standard Covered Perils: Fire, Wind, and Vandalism

Most builders risk policies are written on a "named perils" or "special form" basis. Special form policies cover all risks of direct physical loss unless specifically excluded, which gives broader protection.


Standard covered perils typically include fire, lightning, wind, hail, explosion, vandalism, and theft. In South Carolina, wind coverage is particularly important given the state's hurricane exposure along the coast. A project in Myrtle Beach or Charleston faces very different wind risks than one in Rock Hill, and your policy needs to reflect that. Some coastal projects may require separate windstorm coverage or higher wind/hail deductibles.

Common Exclusions: Floods, Earthquakes, and Design Flaws

Every builders risk policy has exclusions, and they're often the things most likely to cause a loss. Flood damage is almost universally excluded from standard policies and requires a separate flood policy, especially critical for projects in South Carolina's coastal flood zones. Earthquake coverage is also typically excluded but can be added by endorsement.


Design defects, faulty workmanship, and defective materials are excluded in most policies, though some will cover the resulting damage even if the cause itself isn't covered. For example, if faulty wiring causes a fire, the fire damage may be covered even though the wiring defect is not. Wear and tear, mechanical breakdown, and losses due to government action are also standard exclusions.

Soft Costs: Covering Delays and Lost Revenue

Here's where many businesses get caught off guard. A covered loss doesn't just damage the structure: it delays the project. That delay creates real financial costs including extended loan interest, additional rent for temporary space, architect and engineering fees for redesign, and lost rental income if the project was pre-leased.


A soft costs endorsement covers these delay-related expenses, and it's one of the most valuable add-ons available. For a commercial project where tenants are lined up and lease start dates are fixed, soft cost coverage can be worth more than the physical damage coverage itself.

Factors That Influence Your Premium Costs

Several variables drive what you'll pay:


  • Specialty: Neurosurgeons pay far more than internists
  • Claims history: Prior claims increase your rates, sometimes dramatically
  • Location: Urban areas with higher jury awards tend to cost more
  • Policy type: Occurrence policies cost more than claims-made
  • Coverage limits: Higher limits mean higher premiums
  • Years in practice: New physicians sometimes pay less initially on claims-made policies (the "step" or "mature" rate system)


The trend line isn't encouraging. Malpractice claims data for 2026 shows continued growth in both claim frequency and severity, meaning premiums are likely to keep rising. Shopping your coverage through an independent agency that compares multiple carriers can save you thousands annually without sacrificing protection.

Comparing Policy Types and Coverage Levels

Not all builders risk policies are created equal. The differences between basic and extended coverage can mean the difference between a claim that's fully paid and one that leaves you covering a significant shortfall.

Feature Basic Coverage Extended Coverage
Fire, Wind, Vandalism Included Included
Theft of Materials Often limited Typically included
Flood/Earthquake Excluded Available by endorsement
Soft Costs Not included Available by endorsement
Materials in Transit Limited or excluded Included up to sublimit
Debris Removal Basic sublimit Higher sublimit
Temporary Structures Excluded Often included
Pollutant Cleanup Excluded Available by endorsement

For most commercial projects, extended coverage with appropriate endorsements is the smarter choice. The premium difference is often modest compared to the potential gap in coverage.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Feature Admitted (Standard) Carriers Non-Admitted (E&S) Carriers
State regulation Fully regulated; rates filed with state Exempt from rate filing; flexible pricing
Guaranty fund protection Yes: state fund covers claims if carrier fails No: no guaranty fund backstop
Policy forms Standardized (ISO forms common) Manuscript or custom forms
Risk appetite Prefers low-to-moderate risk Accepts high-risk and unusual exposures
Premium cost Generally lower Typically 20-75% higher
Surplus lines tax Not applicable Buyer pays state surplus lines tax (varies 2-5%)
Speed of placement Standard timelines Can be faster or slower depending on complexity

This is a policy feature that doesn't get enough attention. A consent-to-settle clause gives you the right to approve or reject any settlement offer your insurer wants to make. Without it, your carrier can settle a claim you believe is meritless, and that settlement goes on your record.


Some policies include a "hammer clause" instead: if you refuse a settlement the insurer recommends and the case goes to trial with a worse outcome, you're responsible for the difference. Understanding this clause before you buy a policy is critical. At CSP Insurance Services, their team walks clients through these policy details line by line, which matters because the fine print in malpractice policies can have career-altering consequences.

The Role of Consent-to-Settle Clauses

How the 2026 Construction Insurance Market Affects Your Policy

The construction insurance market in 2026 is actually working in buyers' favor for many project types. Global reinsurance capital has surged past $700 billion, which has increased capacity and driven more competitive pricing for ground-up construction projects. That means better rates and broader terms for many policyholders.


That said, the market isn't uniformly soft. The construction insurance outlook for 2026 shows that coastal projects, wood-frame construction, and projects in wildfire-prone areas still face tighter underwriting and higher premiums. South Carolina builders working on coastal projects should expect more scrutiny on wind/hail deductibles and may see requirements for hurricane-resistant construction methods.


The shift toward partnership-driven underwriting is also notable, with carriers working more closely with contractors on loss prevention rather than simply pricing risk after the fact.

Specialty Lines: Flood, Earthquake, and Valuable Items

Flood insurance is a separate policy, typically written through FEMA's National Flood Insurance Program or a private carrier. If your home sits in a designated flood zone anywhere along the SC coast or near inland rivers, your mortgage lender will require it. But even homes outside mapped flood zones can flood: roughly 25% of flood claims come from properties in low-to-moderate risk areas.


Earthquake coverage is less common in South Carolina, but the state sits near the Charleston fault zone, which produced a magnitude 7.3 quake in 1886. A rider or standalone earthquake policy is worth considering if you're in the Lowcountry.


Scheduled personal property endorsements cover high-value items like jewelry, art, firearms, or musical instruments that exceed standard policy sub-limits. Most homeowners policies cap jewelry coverage at $1,500-$2,500 per item. If your engagement ring is worth $8,000, you need a scheduled endorsement or inland marine floater to cover the difference.

Usually, yes. A single claim can increase your premiums by 10% to 30% or more, depending on the severity and outcome. Some carriers offer claims-free discounts that you'd lose. That said, a claim that's dismissed or results in no payout has less impact than one with a large settlement. Shopping your renewal through an independent agent can help offset rate increases by comparing offers from competing carriers.

FAQ: Will my rates go up if I have one claim?

Determining Your Limits and Policy Costs

Getting your coverage limits right is one of the most important decisions you'll make. Too low, and you're underinsured. Too high, and you're overpaying for coverage you don't need.

How to Calculate the Total Completed Value

Builders risk policies are typically written for the total completed value of the project, not just the current value of work in place. This means you need to calculate the full cost of construction including materials, labor, and contractor overhead and profit.


Don't forget to include the value of materials supplied by the owner, permanent fixtures and equipment that will be installed, and any site preparation work. If you're renovating an existing structure, you may need to include the value of the existing building as well. A common mistake is underestimating the completed value to save on premiums, which leads to coinsurance penalties at claim time.

Factors That Influence Your Monthly Premiums

Several factors drive your builders risk premium. Project type matters: a wood-frame apartment complex costs more to insure than a concrete tilt-up warehouse. Location is significant, especially in South Carolina where coastal proximity affects wind/hail rates dramatically. A project in Florence will price very differently from one on the Grand Strand.


Other factors include project duration, the contractor's loss history, protective safeguards on-site (fencing, security cameras, fire extinguishers), and the deductible you choose. Premiums typically run between 1% and 4% of the total project value, though market conditions in early 2026 have pushed rates toward the lower end for well-managed projects.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Feature Admitted (Standard) Carriers Non-Admitted (E&S) Carriers
State regulation Fully regulated; rates filed with state Exempt from rate filing; flexible pricing
Guaranty fund protection Yes: state fund covers claims if carrier fails No: no guaranty fund backstop
Policy forms Standardized (ISO forms common) Manuscript or custom forms
Risk appetite Prefers low-to-moderate risk Accepts high-risk and unusual exposures
Premium cost Generally lower Typically 20-75% higher
Surplus lines tax Not applicable Buyer pays state surplus lines tax (varies 2-5%)
Speed of placement Standard timelines Can be faster or slower depending on complexity

Filing a builders risk claim isn't like filing a standard property claim. Construction sites are chaotic environments, and proving the extent of damage requires specific documentation and quick action.

Immediate Steps to Take After Property Damage

The first 24 to 48 hours after a loss are critical. Secure the site to prevent further damage: this is actually a policy requirement, not just good practice. Failing to mitigate ongoing damage can result in a reduced payout. Contact your insurance agent immediately and file a claim with the carrier.


Don't start cleanup or repairs beyond what's necessary to prevent additional damage until the adjuster has inspected the site. Take extensive photos and video of all damage before anything is moved or cleaned up. If theft is involved, file a police report immediately.

Documentation Required for a Smooth Payout

Thorough documentation is the difference between a claim that pays out in weeks and one that drags on for months. You'll need your construction contract and project schedule, detailed cost estimates for repairs, photos of the damage (before and after mitigation), receipts for materials lost or damaged, and records of any delay-related costs if you have soft cost coverage.


Working with an independent agency like CSP Insurance Services can be particularly helpful during claims because their team can advocate on your behalf with the carrier rather than simply processing paperwork. Having someone who understands construction market dynamics and policy nuances can make a real difference in your settlement.

Specialty Lines: Flood, Earthquake, and Valuable Items

Flood insurance is a separate policy, typically written through FEMA's National Flood Insurance Program or a private carrier. If your home sits in a designated flood zone anywhere along the SC coast or near inland rivers, your mortgage lender will require it. But even homes outside mapped flood zones can flood: roughly 25% of flood claims come from properties in low-to-moderate risk areas.


Earthquake coverage is less common in South Carolina, but the state sits near the Charleston fault zone, which produced a magnitude 7.3 quake in 1886. A rider or standalone earthquake policy is worth considering if you're in the Lowcountry.


Scheduled personal property endorsements cover high-value items like jewelry, art, firearms, or musical instruments that exceed standard policy sub-limits. Most homeowners policies cap jewelry coverage at $1,500-$2,500 per item. If your engagement ring is worth $8,000, you need a scheduled endorsement or inland marine floater to cover the difference.

Usually, yes. A single claim can increase your premiums by 10% to 30% or more, depending on the severity and outcome. Some carriers offer claims-free discounts that you'd lose. That said, a claim that's dismissed or results in no payout has less impact than one with a large settlement. Shopping your renewal through an independent agent can help offset rate increases by comparing offers from competing carriers.

FAQ: Will my rates go up if I have one claim?

Frequently Asked Questions About Builders Risk

Does my general liability policy cover damage to the building I'm constructing? No. General liability covers third-party bodily injury and property damage, not damage to your own project. You need a separate builders risk policy for that.


How long does a builders risk policy last? Most policies are written for the expected construction period, typically 3 to 12 months. Extensions are available but usually need to be requested before the original policy expires.


Can I get builders risk coverage for a renovation project? Yes. Renovation and remodeling projects are eligible, though the policy may need to cover both the existing structure and the new work being performed.


Who gets paid when a builders risk claim is approved? The payout typically goes to the named insured, which could be the owner, the contractor, or both depending on how the policy is structured. Mortgage lenders are usually listed as loss payees.


Is builders risk insurance required by law in South Carolina? It's not mandated by state law, but most construction lenders require it as a condition of financing. Many project contracts also require it.


What's the typical deductible on a builders risk policy? Deductibles vary widely, from $1,000 on small projects to $25,000 or more on large commercial builds. Wind/hail deductibles in coastal South Carolina are often percentage-based, typically 2% to 5% of the insured value.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Feature Admitted (Standard) Carriers Non-Admitted (E&S) Carriers
State regulation Fully regulated; rates filed with state Exempt from rate filing; flexible pricing
Guaranty fund protection Yes: state fund covers claims if carrier fails No: no guaranty fund backstop
Policy forms Standardized (ISO forms common) Manuscript or custom forms
Risk appetite Prefers low-to-moderate risk Accepts high-risk and unusual exposures
Premium cost Generally lower Typically 20-75% higher
Surplus lines tax Not applicable Buyer pays state surplus lines tax (varies 2-5%)
Speed of placement Standard timelines Can be faster or slower depending on complexity

Immediate Steps to Take After Property Damage

The first 24 to 48 hours after a loss are critical. Secure the site to prevent further damage: this is actually a policy requirement, not just good practice. Failing to mitigate ongoing damage can result in a reduced payout. Contact your insurance agent immediately and file a claim with the carrier.


Don't start cleanup or repairs beyond what's necessary to prevent additional damage until the adjuster has inspected the site. Take extensive photos and video of all damage before anything is moved or cleaned up. If theft is involved, file a police report immediately.

Avoiding Common Mistakes When Buying a Policy

The biggest mistake is waiting until construction starts to shop for coverage. Ideally, your policy should be bound before the first shovel hits dirt. Other common errors include underinsuring the project value, failing to add soft cost coverage on commercial projects, and not understanding your wind/hail deductible in coastal areas.

Specialty Lines: Flood, Earthquake, and Valuable Items

Flood insurance is a separate policy, typically written through FEMA's National Flood Insurance Program or a private carrier. If your home sits in a designated flood zone anywhere along the SC coast or near inland rivers, your mortgage lender will require it. But even homes outside mapped flood zones can flood: roughly 25% of flood claims come from properties in low-to-moderate risk areas.


Earthquake coverage is less common in South Carolina, but the state sits near the Charleston fault zone, which produced a magnitude 7.3 quake in 1886. A rider or standalone earthquake policy is worth considering if you're in the Lowcountry.


Scheduled personal property endorsements cover high-value items like jewelry, art, firearms, or musical instruments that exceed standard policy sub-limits. Most homeowners policies cap jewelry coverage at $1,500-$2,500 per item. If your engagement ring is worth $8,000, you need a scheduled endorsement or inland marine floater to cover the difference.

Usually, yes. A single claim can increase your premiums by 10% to 30% or more, depending on the severity and outcome. Some carriers offer claims-free discounts that you'd lose. That said, a claim that's dismissed or results in no payout has less impact than one with a large settlement. Shopping your renewal through an independent agent can help offset rate increases by comparing offers from competing carriers.

FAQ: Will my rates go up if I have one claim?

How Builders Risk Fits with Your Other Business Insurance

Builders risk doesn't replace your other policies: it works alongside them. You still need general liability for third-party claims, workers compensation for employee injuries, commercial auto for your vehicles, and possibly an inland marine policy for equipment. Think of builders risk as the missing piece that covers the structure itself during the build.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Feature Admitted (Standard) Carriers Non-Admitted (E&S) Carriers
State regulation Fully regulated; rates filed with state Exempt from rate filing; flexible pricing
Guaranty fund protection Yes: state fund covers claims if carrier fails No: no guaranty fund backstop
Policy forms Standardized (ISO forms common) Manuscript or custom forms
Risk appetite Prefers low-to-moderate risk Accepts high-risk and unusual exposures
Premium cost Generally lower Typically 20-75% higher
Surplus lines tax Not applicable Buyer pays state surplus lines tax (varies 2-5%)
Speed of placement Standard timelines Can be faster or slower depending on complexity

Immediate Steps to Take After Property Damage

The first 24 to 48 hours after a loss are critical. Secure the site to prevent further damage: this is actually a policy requirement, not just good practice. Failing to mitigate ongoing damage can result in a reduced payout. Contact your insurance agent immediately and file a claim with the carrier.


Don't start cleanup or repairs beyond what's necessary to prevent additional damage until the adjuster has inspected the site. Take extensive photos and video of all damage before anything is moved or cleaned up. If theft is involved, file a police report immediately.

South Carolina-Specific Considerations for Construction Coverage

South Carolina's coastal exposure creates unique challenges. The SC Department of Insurance has specific regulations around windstorm coverage, and projects in coastal counties may need to obtain wind/hail coverage through the South Carolina Wind and Hail Underwriting Association if private market options are limited. Flood zone designations along the coast also require careful attention, since standard builders risk policies exclude flood damage entirely.

Specialty Lines: Flood, Earthquake, and Valuable Items

Flood insurance is a separate policy, typically written through FEMA's National Flood Insurance Program or a private carrier. If your home sits in a designated flood zone anywhere along the SC coast or near inland rivers, your mortgage lender will require it. But even homes outside mapped flood zones can flood: roughly 25% of flood claims come from properties in low-to-moderate risk areas.


Earthquake coverage is less common in South Carolina, but the state sits near the Charleston fault zone, which produced a magnitude 7.3 quake in 1886. A rider or standalone earthquake policy is worth considering if you're in the Lowcountry.


Scheduled personal property endorsements cover high-value items like jewelry, art, firearms, or musical instruments that exceed standard policy sub-limits. Most homeowners policies cap jewelry coverage at $1,500-$2,500 per item. If your engagement ring is worth $8,000, you need a scheduled endorsement or inland marine floater to cover the difference.

Usually, yes. A single claim can increase your premiums by 10% to 30% or more, depending on the severity and outcome. Some carriers offer claims-free discounts that you'd lose. That said, a claim that's dismissed or results in no payout has less impact than one with a large settlement. Shopping your renewal through an independent agent can help offset rate increases by comparing offers from competing carriers.

FAQ: Will my rates go up if I have one claim?

When Coverage Begins and Ends: Key Dates That Matter

Your policy typically starts on the date specified in the declarations page, not when construction actually begins. Coverage ends when the building is completed, occupied, or the policy expires, whichever comes first. If your project runs long, you'll need to request an extension before the expiration date. Missing that deadline can leave your project uninsured during the final stretch of construction, which is exactly when the most value is at risk.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Boat and Watercraft Coverage for Weekend Adventures

Your homeowners policy might cover a small kayak or canoe, but anything with a motor typically needs its own policy. Boat insurance covers physical damage to the vessel, liability for injuries or property damage you cause on the water, and sometimes towing and salvage costs.


Lake-specific risks differ from coastal ones. A boat kept at Myrtle Beach faces saltwater corrosion, hurricane exposure, and higher theft rates than one stored at a private dock on Lake Wateree. Your policy should reflect where you keep and operate the boat. An independent agency like CSP Insurance Services can compare quotes across multiple marine carriers to find coverage that actually matches your boating habits rather than forcing you into a one-size-fits-all plan.

Feature Admitted (Standard) Carriers Non-Admitted (E&S) Carriers
State regulation Fully regulated; rates filed with state Exempt from rate filing; flexible pricing
Guaranty fund protection Yes: state fund covers claims if carrier fails No: no guaranty fund backstop
Policy forms Standardized (ISO forms common) Manuscript or custom forms
Risk appetite Prefers low-to-moderate risk Accepts high-risk and unusual exposures
Premium cost Generally lower Typically 20-75% higher
Surplus lines tax Not applicable Buyer pays state surplus lines tax (varies 2-5%)
Speed of placement Standard timelines Can be faster or slower depending on complexity

Immediate Steps to Take After Property Damage

The first 24 to 48 hours after a loss are critical. Secure the site to prevent further damage: this is actually a policy requirement, not just good practice. Failing to mitigate ongoing damage can result in a reduced payout. Contact your insurance agent immediately and file a claim with the carrier.


Don't start cleanup or repairs beyond what's necessary to prevent additional damage until the adjuster has inspected the site. Take extensive photos and video of all damage before anything is moved or cleaned up. If theft is involved, file a police report immediately.

Making the Right Choice for Your Project

Builders risk insurance protects one of the largest financial investments your business will make. Getting the coverage right means understanding what's covered, what's excluded, how to set your limits, and what to do when something goes wrong. For South Carolina projects, paying close attention to wind, hail, and flood exposure is especially important given the state's coastal geography.


The smartest move is working with an independent agency that can compare policies across multiple carriers and find coverage tailored to your specific project. CSP Insurance Services has been helping South Carolina businesses with exactly this kind of customized protection since 1939, and their team can walk you through the details without the runaround of call centers or automated systems. If you have a construction project on the horizon, request a quote to make sure your investment is properly protected before the first nail gets driven.

About the author

Lawson Walker, CIC

I'm proud to be part of an agency that's served Florence since 1939. CSP Insurance Services started as Cormell-Streett & Patterson, built by people who believed insurance should be personal — and more than eight decades later, that conviction still drives everything we do. Commitment, Service, Protection isn't just what CSP stands for; it's how I approach every client relationship.


As an independent, Trusted Choice agency, we aren't tied to any single carrier. That means I work for you — shopping multiple companies to match you with coverage that actually fits your family, your business, and your budget. No call centers, no chatbots. Just a local expert who takes the time to understand what matters to you and stands by you when it counts.


Whether you're protecting your home, your car, or a business you've spent years building, I'd be glad to help you find the right coverage.

We compare several carriers to find a policy that fits you, not one company's products.

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80+ years local experience

1939

Serving SC

Meet Richard

Most Requested

Core business coverage.

The policies most South Carolina businesses start with.

Commercial Property

Protect the building, equipment, and inventory your business runs on, so a covered fire, theft, or storm doesn’t become a closed door.

Workers Compensation

Required for most South Carolina employers with staff. It covers medical bills and lost wages when an employee is hurt on the job.

Commercial Auto

Cars, trucks, and fleets used for work need more than a personal policy. This handles liability, damage, and your drivers.

General Liability

Accidents happen on the job and on your property. General liability covers third-party injury and property damage claims against your business.

Inland Marine

Tools, equipment, and goods on the move aren’t covered by standard property policies. Inland marine protects them wherever they travel.

Business Owners (BOP)

A business owners policy bundles property and liability coverage into one package, often at a better price for small businesses.

We compare several carriers to find a policy that fits you, not one company's products.

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80+ years local experience

1939

Serving SC

Insurance Sales

J. Roger Jordan, CIC

Meet Richard

[CONFIRM bio]

Personal Insurance

Coverage for your home, vehicles, and family.

Protect what matters most with personal policies shopped across our carriers.

Home

Your house is likely your largest investment. Home insurance helps rebuild after covered damage and protects you from liability.

Auto

South Carolina drivers need real protection. Auto coverage handles liability, collision, medical costs, and uninsured drivers.

Umbrella

When a serious claim climbs past your home or auto limits, umbrella coverage adds an extra layer of liability protection.

Boat

Time on the water should be worry-free. Boat coverage protects your vessel, your passengers, and your liability on the lake or coast.

Motorcycle

Riders need coverage built for the road. Motorcycle insurance protects your bike, your gear, and you after an accident.

Condo

Your association covers the building, but not what’s inside. Condo insurance protects your belongings, improvements, and liability.

We compare several carriers to find a policy that fits you, not one company's products.

◆

80+ years local experience

1939

Serving SC

Insurance Sales

J. Roger Jordan, CIC

Meet Richard

[CONFIRM bio]

Get a Quote

Boat

Your association covers the building, but not what’s inside. Condo insurance protects your belongings, improvements, and liability.

Time on the water should be worry-free. Boat coverage protects your vessel, your passengers, and your liability on the lake or coast.

Condo

Get a Quote

Motorcycle

Riders need coverage built for the road. Motorcycle insurance protects your bike, your gear, and you after an accident.

Get a Quote

Industries We Serve

Specialized coverage for your industry.

Every industry carries its own risk. We help South Carolina businesses protect what they've built.

Restaurants

Kitchens, customers, and staff create daily exposure. We protect your property, equipment, liquor liability, and employees.

Manufacturers

From equipment breakdown to product liability, manufacturers face risk on the floor and beyond. We help cover property, machinery, and goods.

Healthcare Providers

Practices and clinics carry patient, property, and professional risk. We help cover liability, equipment, and the people who run your practice.

We compare several carriers to find a policy that fits you, not one company's products.

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80+ years local experience

1939

Serving SC

Commercial Property

Protect the building, equipment, and inventory your business runs on, so a covered fire, theft, or storm doesn’t become a closed door.

Meet Richard View all business coverage Get a Quote

Commercial Auto

Get a Quote

Cars, trucks, and fleets used for work need more than a personal policy. This handles liability, damage, and your drivers.

How It Works

Getting covered is simple.

Four steps, one real person from start to finish.

Tell us about you

Share a few details about what you need to protect. A real person reviews it.

We compare carriers

We shop options across our carriers to find strong protection at a fair price.

We recommend coverage

We walk you through the policy in plain language and answer every question.

You get covered

Sign with confidence — and we stay on for changes, claims, and yearly reviews.

We compare several carriers to find a policy that fits you, not one company's products.

Multi-carrier choice

Claims advocacy

When a claim happens, we stand in your corner and help move it forward with your carrier.

Local SC roots

We live and work in Florence and understand the risks your community faces because we face them too.

Client Reviews

Why clients choose CSP.

Independent advice, real people, and decades of local roots.

We compare several carriers to find a policy that fits you, not one company's products.

◆

80+ years local experience

1939

Serving SC

Insurance Sales

J. Roger Jordan, CIC

Meet Richard

[CONFIRM bio]

Get a Quote

Boat

Your association covers the building, but not what’s inside. Condo insurance protects your belongings, improvements, and liability.

Time on the water should be worry-free. Boat coverage protects your vessel, your passengers, and your liability on the lake or coast.

Condo

Get a Quote

Motorcycle

Riders need coverage built for the road. Motorcycle insurance protects your bike, your gear, and you after an accident.

Get a Quote

FAQs

Questions, answered.

Straight answers about working with an independent agency.

  • What does an independent insurance agency do?

    An independent agency represents several carriers instead of one. We compare coverage and pricing across companies, then recommend the policy that fits you best.

  • Do you cover both personal and business insurance?

    Yes. CSP writes personal lines like home and auto, and commercial lines for businesses across South Carolina.

  • How long has CSP been in business?

    CSP traces its roots to 1939, with more than 80 years serving South Carolina families and businesses.

  • Will I work with a real person?

    Always. No call centers and no chatbots — you work with a local team member who knows your account.

  • Which areas do you serve?

    We’re based in Florence and serve clients statewide, including Myrtle Beach, Rock Hill, and Columbia.

  • How do I get a quote?

    Request a quote online, call us, or stop by the office. A real person will review your needs and follow up.

How It Works

Insurance tips & updates.

Plain-language guidance to help you make confident decisions.

How Much Does Business Insurance Cost for a Small Business in Florence, SC?

How Much Does Business Insurance Cost for a Small Business in Florence, SC?

6 August 2026
Learn how much small business insurance costs in Florence, SC, including GL, workers’ comp, property coverage, pricing factors, and ways to save.
What Insurance Does a Small Business in South Carolina Legally Need?

What Insurance Does a Small Business in South Carolina Legally Need?

6 August 2026
Learn what insurance South Carolina small businesses legally need, including workers’ comp, commercial auto, and essential coverage beyond state requirements.
Group Health Insurance vs. Individual Plans: Which Is Right for SC Employers?

Group Health Insurance vs. Individual Plans: Which Is Right for SC Employers?

6 August 2026
Compare group health insurance vs. individual plans for SC employers. Learn costs, tax benefits, ICHRA options, and the best fit for your team.

We compare several carriers to find a policy that fits you, not one company's products.

◆

80+ years local experience

1939

Serving SC

Insurance Sales

J. Roger Jordan, CIC

Meet Richard

[CONFIRM bio]

Get a Quote

Boat

Your association covers the building, but not what’s inside. Condo insurance protects your belongings, improvements, and liability.

Time on the water should be worry-free. Boat coverage protects your vessel, your passengers, and your liability on the lake or coast.

Condo

Get a Quote

Motorcycle

Riders need coverage built for the road. Motorcycle insurance protects your bike, your gear, and you after an accident.

Get a Quote

Get a Quote

Let's find your coverage.

Tell us a little about what you need to protect. A real person from our Florence team will review it and follow up.

2420 Hoffmeyer Road, Suite D
Florence, SC 29501

Mon–Fri 8:30am – 5:00pm