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.

Medical expenses

Claims history

A single tax filing error can trigger a lawsuit that costs more than your firm earns in a year. A data breach exposing client Social Security numbers can destroy decades of trust overnight. These aren't hypothetical scenarios: they're the kinds of claims South Carolina accounting firms face regularly, and the right insurance coverage is the difference between surviving them and shutting your doors. Whether you run a solo bookkeeping practice from your home in Florence or manage a mid-size CPA firm in Columbia, understanding the full spectrum of coverage for your accounting firm, from general liability and workers' comp to commercial auto and specialized policies, is essential to protecting what you've built. The professional liability insurance market for accountants has been growing at a CAGR of 5.03% through 2026, which tells you something about both the rising demand and the rising risk. This guide breaks down each policy type, what it actually covers, and where the gaps tend to hide.

Core Liability Protections for Modern Accounting Practices

Every accounting firm needs two foundational liability policies, and confusing them is one of the most common mistakes firm owners make. General liability and professional liability cover completely different risks, and carrying one without the other leaves you exposed. Think of it this way: general liability covers what happens in your space, while professional liability covers what happens in your work.

General Liability: Protecting Your Physical Office

General liability insurance covers bodily injury, property damage, and personal injury claims that happen on your premises or because of your operations. If a client trips over a loose carpet in your Myrtle Beach office and breaks their wrist, general liability pays for their medical bills and any resulting lawsuit. If your cleaning crew accidentally damages a neighboring tenant's property, it's covered here too.


For most small accounting firms, general liability premiums typically fall between $300 and $1,000 per year, depending on your location, office size, and number of employees. South Carolina doesn't mandate general liability for all businesses, but most commercial leases require it, and it's a baseline expectation for any professional operation.

Professional Liability (E&O): The Accountant's Safety Net

Professional liability, also called errors and omissions insurance, is where the real action is for accountants. This policy responds when a client claims your professional services caused them financial harm: a missed deduction, an incorrect filing, bad advisory guidance, or a bookkeeping error that led to penalties.


The CPA liability insurance market continues to expand as firms face increasing regulatory complexity and client expectations. E&O claims against accountants don't have to involve actual negligence; a client just has to believe you made a costly mistake. Defense costs alone can run $50,000 or more, even if the claim has no merit. Most South Carolina accounting firms carry between $500,000 and $2 million in professional liability coverage.

Comparison: General Liability vs. Professional Liability

Feature General Liability Professional Liability (E&O)
What it covers Bodily injury, property damage, personal injury Errors, omissions, negligent professional advice
Typical trigger Client slips in your office Client sues over a tax filing mistake
Average annual cost $300 - $1,000 $1,200 - $3,500
Required by law in SC? No (but often required by landlords) No (but required by some licensing boards)
Claims-made vs. occurrence Usually occurrence-based Usually claims-made
Who needs it most Firms with office foot traffic Every practicing accountant

One thing to keep in mind: professional liability policies are almost always claims-made, meaning they only cover claims filed while the policy is active. If you retire or switch carriers, you'll need tail coverage to protect against claims arising from past work.

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

Medical Payments and Personal Injury Protection

Medical payments coverage (MedPay) pays for medical bills for you and your passengers after an accident, regardless of who caused it. South Carolina doesn't require PIP (personal injury protection), but MedPay is a practical alternative that covers immediate medical costs without waiting for fault to be determined. If you regularly travel with family or friends, carrying $10,000 to $25,000 in MedPay is a reasonable baseline.

Essential Operational Coverage: Workers Comp and Commercial Auto

Beyond liability, two operational policies round out the core coverage most accounting firms need. These aren't optional extras: South Carolina law requires workers' compensation for firms with four or more employees, and commercial auto is critical if anyone in your firm drives for business purposes.

Workers' Compensation for Remote and In-Office Staff

South Carolina requires workers' comp for businesses with four or more employees, including part-time and seasonal staff. Even if you're below that threshold, carrying it voluntarily protects you from personal liability if someone gets hurt on the job.


The workers' comp system is in healthy condition heading into 2026, with stable rates in most states. For accounting firms, the risk profile is relatively low compared to construction or manufacturing, which keeps premiums manageable: often $500 to $1,500 annually for a small office staff. That said, remote workers present a newer wrinkle. If an employee injures themselves at their home workstation during business hours, that's potentially a compensable claim. Make sure your policy explicitly covers remote staff, especially during tax season when people are working long hours from home.

Commercial Auto for Client Site Visits and Travel

If your employees drive to client offices, banks, or courthouses, your personal auto insurance won't cover accidents that happen during business use. Commercial auto fills that gap. South Carolina's minimum auto liability limits are 25/50/25 ($25,000 per person, $50,000 per accident for bodily injury, $25,000 for property damage), but most business policies should carry significantly higher limits.


Commercial auto insurance trends show premiums continuing to rise in 2026 due to increasing repair costs and distracted driving claims. If your firm uses personal vehicles for business, a hired and non-owned auto policy is a more affordable alternative that covers liability when employees use their own cars for work errands. This is a common setup for smaller firms that don't maintain a fleet.

Most South Carolina small businesses land on Silver or Gold plans. Bronze works well when paired with employer HSA contributions, while Platinum plans are typically reserved for businesses competing for top talent in industries like healthcare or tech.

Industry-Specific Risks: Cyber and Data Protection

Accounting firms sit on a goldmine of sensitive data: Social Security numbers, bank account details, income records, corporate financials. That makes you a prime target for cybercriminals and creates unique exposure that standard liability policies don't address.

Cyber Liability: Shielding Sensitive Tax and Financial Data

A single data breach affecting client records can cost an accounting firm hundreds of thousands of dollars in notification expenses, credit monitoring, legal defense, and regulatory fines. Cyber liability insurance covers these costs, along with business interruption losses if a ransomware attack takes your systems offline during the middle of tax season.


The numbers are sobering: cyber insurance claims have surged in recent years as ransomware attacks and phishing schemes grow more sophisticated. South Carolina's Insurance Data Security Act, modeled after the NAIC model law, requires certain financial services firms to maintain information security programs. While the law doesn't explicitly mandate cyber insurance, carrying a policy demonstrates compliance with your duty to protect client data. Most small firms should carry at least $500,000 in cyber coverage.

Employee Dishonesty and Crime Coverage

Here's a risk most firm owners don't think about until it's too late: what if a trusted employee embezzles client funds or steals sensitive information? Employee dishonesty bonds and crime coverage policies protect your firm against losses caused by fraudulent acts committed by your own staff. This is especially relevant for firms that handle client payroll, manage trust accounts, or have access to banking credentials. A fidelity bond typically costs a few hundred dollars per year and can save you from catastrophic losses.

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

Understanding Coverage Limits and State Requirements

Getting the right policies is only half the equation. Choosing appropriate coverage limits matters just as much. The 2026 commercial insurance market outlook shows a stabilizing rate environment, which means firms shopping for coverage now may find more competitive pricing than in recent years.


South Carolina has specific requirements worth knowing. Workers' comp kicks in at four employees. The state doesn't mandate professional liability for all accountants, but the SC Board of Accountancy can take disciplinary action if you practice without the ability to cover client losses. Coastal firms in Myrtle Beach or Charleston should also consider business property coverage that accounts for hurricane and wind/hail exposure: standard commercial property policies often exclude wind damage in coastal zones, requiring separate windstorm coverage.


An independent agency like CSP Insurance Services can compare quotes across multiple carriers to find the right combination of limits and pricing for your specific situation. Because they aren't tied to a single insurer, they can match your firm's risk profile against dozens of options, something a captive agent simply can't do.

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 Accounting Firm Insurance

FAQ: Do I need insurance if I only work as a freelancer?

Yes. Freelance accountants and independent bookkeepers face the same professional liability exposure as larger firms. One client dispute over a tax return can generate legal costs that exceed your annual income. E&O coverage is essential regardless of firm size.

FAQ: How much does a typical policy cost for a small firm?

A solo practitioner might pay $2,000 to $4,000 annually for a package including professional liability, general liability, and cyber coverage. A firm with five to ten employees could expect $5,000 to $12,000 depending on services offered, revenue, and claims history.

FAQ: Does my homeowners insurance cover my home-based tax business?

Almost certainly not. Most homeowners policies exclude business activities. You'll need a separate business policy or a home-based business endorsement to cover professional equipment, client injuries, and liability claims.

FAQ: What happens if a client sues me for a math error?

Your professional liability policy responds. It covers legal defense costs and any settlement or judgment, up to your policy limits. Even frivolous claims cost money to defend, which is exactly why E&O insurance exists.

FAQ: Is cyber insurance required by law for accountants?

Not explicitly in South Carolina, but the state's Insurance Data Security Act requires firms to maintain data security programs. Carrying cyber insurance is one of the strongest ways to demonstrate compliance and protect against breach-related costs.

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

FAQ: Do I need special insurance for a rental RV?

Yes. If you're renting an RV from a peer-to-peer platform, the rental company usually offers insurance, but read the fine print carefully. Your personal auto policy almost certainly won't cover a rented motorhome. If you're renting out your own RV, you'll need a commercial or rental-specific endorsement on your policy.

Making the Right Choice for Your Firm

The right insurance package for an accounting firm isn't one-size-fits-all. A solo tax preparer working from a home office in Rock Hill has different needs than a 20-person CPA firm in Columbia handling audits and advisory work. What stays constant is the need for professional liability as your foundation, with general liability, workers' comp, cyber coverage, and commercial auto layered on based on your operations.


The biggest mistake I see firms make is buying the cheapest policy without reading the exclusions. A professional liability policy that excludes tax preparation services or a cyber policy that doesn't cover social engineering fraud can leave you completely unprotected right when you need help most. Take the time to review what's actually covered, not just the premium.


If you're unsure where your coverage stands or you're starting a new practice, CSP Insurance Services has been helping South Carolina businesses find the right fit since 1939. Their team can walk you through your specific exposures and build a package that actually protects your firm. Request a quote to get a personalized coverage review from an independent agent who can shop the market on your behalf.

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

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.

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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