South Carolina Business Owners Policy (BOP)

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

Hospital bills, treatment, and prescriptions for a work-related injury or illness.

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Claims history

A fire at a downtown Columbia restaurant. A slip-and-fall at a Myrtle Beach retail shop. A burst pipe that floods a Florence office over a holiday weekend. These are the kinds of events that can shut a small business down permanently, and they happen in South Carolina more often than most owners want to think about. The good news is that a single, well-structured insurance policy can cover all three scenarios and more. A business owners policy, or BOP, bundles the essential coverages that small and mid-sized companies need into one package, typically at a lower premium than buying each policy separately. For South Carolina businesses specifically, there are state regulations, coastal exposures, and local market conditions that make understanding your BOP options especially important. The average annual cost for a standard BOP in South Carolina is roughly $932, which is a modest investment compared to the five- or six-figure losses a single uncovered claim can produce. Whether you run a contracting company out of Rock Hill or a medical office in Columbia, getting the right coverage and limits in place isn't optional: it's the foundation your business stands on.

Understanding Business Owners Policy (BOP) for South Carolina Companies

A BOP is essentially three insurance policies stitched together into one contract. It's designed for businesses that don't need the complex, layered coverage programs that large corporations carry but still face real risks every day. Most insurers offer BOPs to companies with fewer than 100 employees and under $5 million in annual revenue, though eligibility varies by carrier. The beauty of the bundle is simplicity: one policy, one premium, one renewal date.

The Three Core Pillars: Liability, Property, and Business Income

The first pillar is general liability, which covers third-party bodily injury, property damage, and advertising injury claims. If a customer trips on your sidewalk or you accidentally damage a client's property during a job, this is what responds. The second pillar is commercial property coverage, protecting your building (if you own it), equipment, inventory, furniture, and signage against covered perils like fire, theft, and vandalism. The third pillar, and the one most often overlooked, is business income coverage. This pays your ongoing expenses (rent, payroll, loan payments) if a covered loss forces you to temporarily close. A restaurant owner in Myrtle Beach who loses three weeks of revenue after a kitchen fire will appreciate this coverage more than any other.

Why Small to Mid-Sized Businesses Choose a BOP Over Standalone Policies

Buying general liability, commercial property, and business income as separate policies means three applications, three underwriting processes, and three premiums that almost always add up to more than a bundled BOP. Most South Carolina businesses paying around $932 per year for a BOP would spend 20-30% more purchasing equivalent standalone coverage. There's also less chance of coverage gaps when everything is under one policy form. That said, a BOP isn't right for every business. Large manufacturers, companies with significant fleet exposures, or businesses with highly specialized risks may need a customized commercial package instead.

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.

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

South Carolina Insurance Requirements and Regulations

South Carolina doesn't mandate that every business carry a BOP, but the state does impose specific insurance requirements depending on your industry and structure.

State-Specific Rules for General Liability and Workers' Comp

Any South Carolina business with four or more employees is required to carry workers' compensation insurance. This is a hard legal requirement, not a suggestion. General liability, on the other hand, isn't technically mandated by state law for most businesses, but landlords, lenders, and clients almost universally require it through contracts. The state's minimum auto liability limits (25/50/25) also apply if your business owns or operates vehicles. One significant recent change: the SC Justice Act has reshaped how civil lawsuits and liability claims are handled, which could affect how insurers price general liability in the state going forward. Businesses that serve alcohol face an especially complex situation, as updated liquor liability laws took effect in 2026, creating new compliance obligations for bars, restaurants, and event venues.

Navigating Coastal Risk Factors and Windstorm Coverage

If your business operates anywhere along the coast from Hilton Head to North Myrtle Beach, windstorm and hurricane exposure is a defining factor in your insurance costs. Standard BOP policies typically exclude wind and hail damage in coastal counties, meaning you'll need a separate windstorm policy, often through the South Carolina Wind and Hail Underwriting Association. Flood damage is also excluded from virtually every BOP, regardless of your location. The South Carolina insurance market reflects these coastal realities, with premiums in Charleston or Georgetown counties running significantly higher than in upstate areas like Greenville or Spartanburg. An independent agency like CSP Insurance Services can compare quotes from multiple carriers to find the best combination of wind, flood, and BOP coverage for coastal businesses.

Comparing Coverage: General Liability vs. Professional Liability

This is a distinction that trips up a lot of business owners. General liability covers physical incidents: someone gets hurt, something gets broken. Professional liability (also called errors and omissions, or E&O) covers financial harm caused by your professional advice, services, or mistakes. A consultant who gives bad advice that costs a client $50,000 needs professional liability. A retail store owner whose customer slips on a wet floor needs general liability.

Comparison Table: Key Differences in Protection

Feature General Liability Professional Liability
What It Covers Bodily injury, property damage, advertising injury Errors, omissions, negligent professional services
Who Needs It Nearly every business Service-based and advisory businesses
Included in a BOP? Yes, standard No, must be added as endorsement or separate policy
Typical SC Annual Cost $400-$800 standalone $500-$2,500 depending on profession
Common Claim Example Customer falls in your store Accountant makes a tax filing error
Defense Costs Usually included in limits Usually included in limits

Most South Carolina BOPs include general liability but not professional liability. If you're a healthcare provider, IT consultant, accountant, or any business that provides professional advice, you'll need to add E&O coverage separately.

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

Determining Your Limits and Deductibles

Your coverage limits and deductibles are the two levers that most directly affect both your premium and your out-of-pocket exposure after a claim. Getting them wrong in either direction is a common and costly mistake.

How Revenue and Industry Risk Impact Your Premium

A $2 million-revenue restaurant in downtown Columbia with deep fryers, a liquor license, and 30 employees is going to pay substantially more than a $200,000-revenue bookkeeping firm with two employees working from a small office. Insurers price BOPs based on your industry classification, revenue, payroll, location, building construction, and claims history. The liquor liability insurance market in South Carolina has been under particular pressure, with some carriers pulling out of the market entirely, driving up costs for restaurants and bars. Most standard BOPs carry $1 million per-occurrence and $2 million aggregate liability limits, with property limits set to match your actual asset values. A $1,000 deductible is common, though choosing a $2,500 deductible can lower your premium by 10-15%.

Common Policy Endorsements for SC Businesses

A base BOP is a starting point, not a finished product. Endorsements let you customize coverage to match your actual risks. Here are the most relevant ones for South Carolina businesses:


  • Hired and non-owned auto liability: covers employees driving personal vehicles for work purposes
  • Equipment breakdown: covers mechanical and electrical failure of HVAC systems, refrigeration, and other equipment
  • Cyber liability: protects against data breaches and ransomware, increasingly critical for businesses handling customer payment data
  • Spoilage coverage: essential for restaurants and food retailers if power loss destroys perishable inventory
  • Liquor liability: required for any business that serves or sells alcohol


An independent agency with decades of experience, like CSP Insurance Services, can walk you through which endorsements make sense for your specific operation rather than selling you a one-size-fits-all package. South Carolina business insurance needs vary widely by industry and location, so cookie-cutter policies rarely provide adequate protection.

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.

Common Questions About SC Business Insurance

Is a BOP required by law in South Carolina?

No. South Carolina does not legally require businesses to carry a BOP. That said, workers' compensation is mandatory for businesses with four or more employees, and most commercial leases and contracts require general liability coverage. A BOP is the most efficient way to meet those contractual obligations while also protecting your assets.

How much does a typical BOP cost in the Palmetto State?

The average runs about $932 per year, though your actual premium depends on your industry, revenue, location, and claims history. A low-risk office-based business might pay $500 annually, while a restaurant or contractor could pay $1,500 or more. Premiums vary significantly across the state, especially between coastal and inland locations.

Does a BOP cover flood damage from hurricanes?

No. Flood damage is excluded from every standard BOP. You need a separate flood insurance policy, typically through the National Flood Insurance Program (NFIP) or a private flood insurer. This is especially critical for businesses in FEMA-designated flood zones along the coast and in low-lying areas of the Pee Dee region.

Can I add workers' compensation to my BOP?

Workers' comp is always a separate policy. It cannot be bundled into a BOP. You'll need to purchase it independently, and South Carolina law requires it once you have four or more employees. Some carriers offer package discounts if you buy your BOP and workers' comp from the same company.

What happens if I run my business out of my home?

Your homeowners policy almost certainly excludes business-related claims. If a client visits your home office and gets injured, or if business equipment is stolen, your homeowners insurance won't cover it. A BOP or an in-home business endorsement is necessary to close that gap. This is one of the most common coverage blind spots we see with small businesses across South Carolina.

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

The Bottom Line: Protecting Your Local Investment

Running a business in South Carolina comes with specific risks that generic national advice doesn't always address: hurricane exposure along the coast, evolving liquor liability laws, and a competitive insurance market that rewards informed buyers. A well-structured BOP gives you the essential coverage foundation, and the right endorsements fill in the gaps unique to your industry and location.


The smartest move you can make is to work with an independent agency that can shop multiple carriers on your behalf. CSP Insurance Services has been helping South Carolina businesses find the right coverage since 1939, and their team can build a policy that actually fits your operation rather than handing you a generic quote. If you're starting a new business, renewing an existing policy, or just want to make sure you're not overpaying or underinsured, request a quote and get a straightforward comparison of your options. Your business is worth protecting properly.

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.

◆

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.

◆

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.

◆

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

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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.

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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