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.
◆
80+ years local experience
Hospital bills, treatment, and prescriptions for a work-related injury or illness.
Medical expenses
Claims history
A single slip-and-fall lawsuit from a tenant can wipe out years of rental income. A contractor injured during a renovation can trigger a workers comp claim that lands squarely on your shoulders. And if you're driving between properties using your personal vehicle, your auto insurer might deny a claim the moment they learn you were on business. These aren't hypothetical scenarios: they're the kinds of calls that real estate investors across South Carolina deal with every year. Whether you own a duplex in Florence or manage a growing portfolio of short-term rentals along the Grand Strand, the right insurance coverage isn't optional. It's the foundation that protects everything you've built. This guide walks through the essential coverage types for residential real estate investors, from general liability and workers comp to commercial auto and landlord-specific policies, so you can make informed decisions about what your portfolio actually needs.
Core Liability Protection for Real Estate Investors
Real estate investing carries more liability exposure than most people realize. You're not just holding property: you're operating a business that interacts with tenants, vendors, visitors, and the general public. A broken stair rail, a dog bite on your property, or a mold issue that wasn't addressed can all generate claims. The right liability stack protects your assets and keeps a single incident from derailing your investment strategy.
General Liability: Your First Line of Defense
General liability insurance covers bodily injury and property damage claims from third parties on your properties. If a delivery driver trips on a cracked sidewalk at your rental in Rock Hill, this is the policy that responds. Most carriers write GL policies with limits starting at $1 million per occurrence and $2 million aggregate, which is a reasonable baseline for small portfolios.
One thing to keep in mind: GL doesn't cover everything. It won't pay for faulty workmanship, professional advice gone wrong, or damage to your own property. It's specifically designed for third-party claims. South Carolina courts have been increasingly plaintiff-friendly in premises liability cases, so skimping on GL limits is a risk most investors can't afford to take.
Professional Liability and Errors & Omissions
If you provide property management services, give investment advice, or handle tenant screening, professional liability (also called E&O) fills a gap that general liability leaves wide open. A tenant who claims you misrepresented the condition of a unit, or a partner who alleges you made a negligent investment recommendation, would fall under this coverage.
E&O policies typically cover legal defense costs even if the claim is baseless, which matters because defense alone can cost $50,000 or more. Investors who self-manage properties often overlook this coverage, assuming GL handles everything. It doesn't.
Umbrella Policies for High-Value Portfolios
Umbrella liability sits on top of your GL, auto, and other liability policies, kicking in when underlying limits are exhausted. For investors with multiple properties, umbrella coverage isn't a luxury. Umbrella and excess liability costs have risen significantly in recent years, driven partly by so-called "nuclear verdicts" that can reach well into the millions.
The umbrella market has been tightening throughout 2026, with some carriers pulling back from writing policies for larger portfolios. That said, coverage is still available, and investors with five or more units should seriously consider $2 million to $5 million in umbrella limits. An independent agency like CSP Insurance Services can shop multiple carriers to find umbrella pricing that hasn't been inflated by a single insurer's risk appetite.


Your CSP agent
Lawson Walker, CIC
Insurance Sales
On this page
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.
Managing Risk During Renovations and Flips
Fix-and-flip projects and major renovations introduce a completely different set of risks. Standard property insurance wasn't designed for buildings under active construction, and the liability exposure multiplies when workers are on-site daily.
Builder's Risk vs. Standard Property Insurance
Builder's risk insurance covers a property during construction or renovation, protecting against fire, theft, vandalism, and weather damage to the structure and materials on-site. Your standard landlord or homeowner policy almost certainly excludes properties under renovation: if you start tearing out walls without notifying your insurer, you could void your coverage entirely.
Builder's risk policies are typically written for the duration of the project (six to twelve months) and cover the completed value of the property. For a $300,000 renovation in Columbia, expect to pay somewhere between $2,000 and $5,000 for the policy term. Coastal projects near Myrtle Beach may cost more due to hurricane and wind exposure, especially during the June-through-November storm season.
Workers Compensation for Employees and Contractors
South Carolina requires workers compensation insurance for any business with four or more employees. Even if you only hire one or two part-time workers for maintenance, you should understand where the threshold sits. If a worker is injured and you don't carry comp, you're personally liable for medical bills, lost wages, and potential lawsuits.
Here's where it gets tricky: even when you hire subcontractors, you can be held liable if they don't carry their own workers comp. South Carolina's Workers' Compensation Commission can assign liability up the chain. Always verify certificates of insurance from every contractor before they set foot on your property. This is one of the most common mistakes investors make, and it's entirely preventable.

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.
Operational Coverage: Commercial Auto and Equipment
Your properties don't manage themselves. Driving between sites, hauling materials, and transporting equipment all create auto liability exposure that your personal policy probably won't cover.
Why Personal Auto Insurance Isn't Enough
Personal auto policies exclude business use in most cases. If you're driving to collect rent, inspect a property, or meet a contractor and you get into an accident, your personal insurer can deny the claim. South Carolina's minimum auto liability limits are 25/50/25, meaning $25,000 per person for bodily injury, $50,000 per accident, and $25,000 for property damage. Those minimums are dangerously low for a business owner.
A commercial auto policy covers vehicles used for business purposes and typically offers higher limits. If you own a truck or van that's titled to your LLC, commercial auto isn't optional: it's required.
Hired and Non-Owned Auto Liability
Not every investor needs a fleet policy. If you use your personal car for business errands or occasionally rent a vehicle, hired and non-owned auto (HNOA) coverage fills the gap. It covers liability when you or an employee drives a vehicle you don't own for business purposes.
HNOA is relatively inexpensive, often running $300 to $800 per year, and it can be added as an endorsement to your general liability policy. For investors who don't own dedicated business vehicles but still drive regularly between properties, this is one of the most cost-effective coverages available.
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 |
Comparing Coverage: Basic vs. Comprehensive Plans
Not all investor insurance packages are created equal. Here's how a basic plan stacks up against a more comprehensive approach:
| Coverage Type | Basic Plan | Comprehensive Plan |
|---|---|---|
| General Liability | $1M/$2M limits | $1M/$2M with umbrella |
| Property Coverage | Dwelling only | Dwelling + contents + equipment |
| Loss of Rental Income | Not included | 12 months coverage |
| Workers Comp | Not included | Included for all employees |
| Commercial Auto | Not included | Full coverage + HNOA |
| Builder's Risk | Not included | Available per project |
| Short-Term Rental | Not included | Airbnb/VRBO endorsement |
| Professional Liability | Not included | $1M E&O coverage |
A basic plan might work for someone with a single long-term rental and no employees. But the moment you add properties, hire help, or start renovating, the gaps become dangerous. The casualty insurance market has seen continued pricing pressure in 2026, making it worth reviewing your coverage annually to ensure you're not overpaying or underinsured.
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.
Industry-Specific Policies for Landlords
Standard commercial policies don't always account for the unique risks landlords face. A few targeted endorsements can make a meaningful difference.
Loss of Rental Income Protection
If a covered event like a fire or storm makes your rental uninhabitable, loss of rental income coverage replaces the rent you would have collected during repairs. Most policies cover 12 months of lost income, though some extend to 18 months for major claims.
In South Carolina, where hurricane damage can sideline a property for months, this coverage is especially relevant. A $1,500-per-month rental that sits empty for six months costs you $9,000 in lost income alone, not counting the repair costs. This endorsement typically adds only a small percentage to your overall premium.
Short-Term Rental and Airbnb Endorsements
If you list properties on Airbnb, VRBO, or similar platforms, your standard landlord policy likely won't cover guest injuries or property damage. Short-term rental endorsements address the higher turnover and increased liability that come with transient guests.
Liability insurance costs have been rising for landlords across the country, and short-term rental properties tend to see even steeper increases. That said, global property insurance rates decreased by roughly 12% in Q2 2026, with well-managed multifamily portfolios seeing reductions between 10% and 15%. The market is shifting, and investors who maintain clean claims histories are being rewarded.
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.
Common Questions About Investor Insurance
Do I need separate insurance for each rental property? Not necessarily. Many carriers offer portfolio policies that cover multiple properties under a single policy, which is often cheaper than insuring each one individually.
Can my LLC protect me without insurance? An LLC provides some legal separation, but it won't pay for defense costs, medical bills, or property damage. Insurance and an LLC work together: one doesn't replace the other.
Does homeowner insurance cover a property I rent out? No. Once you rent a property to tenants, you need a landlord or dwelling fire policy. Homeowner policies exclude rental activity and will deny claims.
How much does landlord insurance cost in South Carolina? Expect to pay between $800 and $2,500 per year per property, depending on location, age, and coverage limits. Coastal properties near Myrtle Beach or Charleston will run higher due to wind and flood exposure.
Is flood insurance required for rental properties? If your property is in a FEMA-designated flood zone and you have a federally backed mortgage, yes. Even if it's not required, South Carolina's low-lying coastal areas make flood coverage a smart investment.
What's the difference between actual cash value and replacement cost? Actual cash value deducts depreciation, so you get less money for older items. Replacement cost pays what it actually costs to repair or replace, regardless of age. Replacement cost is almost always worth the slightly higher premium.
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.
Making the Right Choice for Your Portfolio
Your insurance needs will evolve as your portfolio grows. The coverage that worked for your first rental property in Florence probably won't be sufficient once you're managing five units, running renovations, and hiring maintenance staff. The key is building a coverage stack that matches your actual risk profile, not just checking boxes.
Working with an independent agency makes a real difference here. CSP Insurance Services, with over 80 years of experience serving South Carolina investors, can compare policies across multiple carriers to find coverage that fits your specific situation and budget. You won't get that kind of objective comparison from a single-carrier agent.
If you're unsure where your coverage stands or you're expanding your portfolio and need to reassess, take a few minutes to
request a quote from the CSP team. A quick conversation with someone who understands real estate investor insurance can save you from an expensive lesson down the road.
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
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
[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
[CONFIRM bio]
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
Motorcycle
Riders need coverage built for the road. Motorcycle insurance protects your bike, your gear, and you after an accident.
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.
Commercial Auto
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.
We compare carriers
We shop options across our carriers to find strong protection at a fair price.
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
[CONFIRM bio]
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
Motorcycle
Riders need coverage built for the road. Motorcycle insurance protects your bike, your gear, and you after an accident.
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.
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
[CONFIRM bio]
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
Motorcycle
Riders need coverage built for the road. Motorcycle insurance protects your bike, your gear, and you after an accident.
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




