South Carolina Construction Insurance

Find the Best Construction Insurance Options in South Carolina

Contractors and construction companies in South Carolina come in all shapes and sizes, and the risks that these businesses face are equally diverse. Accidents and property damage in the course of doing business can happen at any time, and construction insurance is one way to protect against the devastating costs and disruption these incidents can cause.

With the help of an independent insurance agent in South Carolina, you can find the answers and coverage you need to protect your construction business from all the risks you face.

Best Construction Insurance Companies in South Carolina

There are many options for construction insurance in South Carolina. We recommend the following as some of the best construction insurance companies in South Carolina.

• Nationwide: Nationwide provides construction insurance and other popular types of business insurance coverage in South Carolina. The company is headquartered in Columbus, OH, and is represented by independent insurance agents in 50 states.
• Liberty Mutual: Liberty Mutual is headquartered in Boston, MA, and has been offering business insurance since 1912. Today, the company offers a flexible, multiline range of coverages designed to meet the needs of any business, regardless of size or industry.
• Stillwater Insurance Group: Stillwater is a national personal and commercial lines carrier with rock-solid financial stability. The company can help you with your construction insurance needs in South Carolina.
• Main Street America: Main Street America was founded in 1923, giving the carrier just over a century of experience in the insurance industry. The insurance company offers a large catalog of coverage options for individuals and businesses, including umbrella insurance, auto insurance, commercial auto insurance, business owners insurance, and more.
• Progressive: Progressive is based in Ohio but offers business insurance across all 50 states, including South Carolina. South Carolina residents can look to Progressive for most of their business insurance needs.

An independent insurance agent in your area can help you learn more about these and other South Carolina construction insurance companies. A local agent can help you get competitive quotes for the coverage that fits your needs.

What Is Construction Insurance in South Carolina?

Construction insurance is a catch-all phrase referring to a wide range of insurance products designed for general contractors, home builders, remodelers, masons, carpenters, framers, plumbers, electricians, and other types of construction businesses or contractors. It includes a wide range of insurance products that contractors and construction companies need to minimize the risks from employee injuries, equipment and materials damage, car or truck accidents, and all the myriad activities taking place on any construction site in South Carolina, day in and day out.

Every construction company in South Carolina needs to carry some type of construction insurance to comply with certain legal requirements, because they are required to by their customers, or to submit bids for work.

Not every type of construction company has the same insurance needs. Your construction insurance portfolio should be based on the size of your company, the size and scope of the projects you take on, the number of people you employ, and the type of work you perform.

Is Contractors Insurance Required in South Carolina?

In general, construction insurance is not required in South Carolina. However, if your business owns any vehicles or you drive your personal vehicle for business purposes, you are required to purchase commercial auto insurance (just like South Carolina drivers are required to purchase personal auto insurance).

South Carolina requires any employer who regularly employs four or more full-time or part-time workers to have workers’ compensation insurance. It protects employees who are injured on the job.

In addition, most South Carolina business owners will need commercial property insurance and general liability insurance at a minimum in order to adequately protect their assets. The specific coverage you need depends on your business and your risk exposures. What’s more, certain customers, vendors, suppliers, and mortgagees may require certain types of coverage in order to do business with you.

What Does Construction Insurance Cover in South Carolina?

Construction companies need various insurance policies, from general liability insurance to contractors bonds and more. Insurance needs vary depending on the type of business and the risks involved, but it is essential for your South Carolina contractors insurance to protect your business and livelihood from property losses, lawsuits, and so much more.

Construction companies in South Carolina should consider the following policies and coverage as a starting point:

• Commercial general liability (CGL) insurance: Often referred to as contractors general liability insurance, CGL coverage protects your business against property damage liability, bodily injury liability, personal injury, and advertising liability claims. It pays for property damage expenses or medical bills for the injured party, as well as your legal defense and financial settlements or judgments if you are sued.
• Commercial property insurance: Protects you when your business property, such as equipment, tools, materials, inventory, office furniture, and other types of tangible commercial property, is damaged by someone else or by some unforeseen event (fire, vandalism, severe weather, etc.).
• Business interruption coverage: Provides income replacement if your business is temporarily unable to operate because of a covered loss.
• Inland marine insurance: Property insurance that specifically protects your equipment, tools, portable computer equipment, and other supplies or materials from theft, loss, or damage while they are in transit to and from worksites.
• Builders risk insurance: Specifically protects buildings and structures that are under construction, as well as the equipment being used onsite to complete the project. It can include coverage for construction materials, heating and air conditioning equipment, labor costs and expenses, and temporary structures like fencing, scaffolding, construction signs, and more. In many cases, the owner of the project provides this coverage, but in some cases where it is mutually beneficial, the contractor can provide this coverage in accordance with the construction contract.
• Commercial auto insurance: Protects your company’s vehicles and drivers. It covers your business cars, SUVs, vans, and trucks if they are damaged in a collision or another event. It also provides invaluable auto liability coverage, which pays for damage to other vehicles and property and medical expenses for injuries caused by one of your drivers. It covers your legal defense if you are sued, as well.
• Workers’ compensation insurance: Provides coverage when accidents happen in the workplace. Ensures that the injured worker gets medical care and income protection while unable to work. And it will provide death benefits for a worker’s dependents if there is a fatality.
• Construction bonds/surety bonds: Bonds are essential to finding, securing, and performing work on all kinds of construction projects, and are often required by the project owner in order for your bid to be accepted. They serve as a guarantee for various aspects of the bidding process and construction contract.

Not every construction company in South Carolina needs the same types and amounts of construction insurance. A local independent insurance agent can help you understand how to protect your business best.

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What Isn't Covered by Construction Insurance in South Carolina? 

Basic commercial property and liability policies spell out a variety of specific coverage exclusions, and it’s important for you to be mindful of all of them.

In many cases, the excluded property or situation can be covered with another policy or special endorsement (many of which are described above). If your general liability policy excludes coverage for pollution liability but you have a serious pollution exposure, you can purchase a pollution liability insurance policy in addition to your other construction insurance policies.

Here are some typical construction insurance exclusions:

• Pollution liability
• Claims resulting from damage to the property of others that is in the care, custody, and control of the business
• Product recall liability
• Any legal actions that do not involve a claim for bodily injury, property damage, personal injury, or advertising injury
• Most contract disputes
• Actions by a governmental agency related to failing to follow regulations
• Claims for back taxes
• Failure to provide a safe workplace/employee injuries
• Professional negligence or errors and omissions
• Employer’s liability claims
• Flood or earthquake damage
• Damage to certain property, including money, security, accounts, and bills; vehicles, aircraft, and watercraft; walkways, roads, and other paved surfaces; electronic data; and cost of restoring information in valuable records

Most of these exclusions can be covered with some other type of policy or endorsement. But remember, no policy will ever cover you for intentional wrongdoing or criminal acts.

Talk to an independent insurance agent about where you may have gaps in your South Carolina contractors insurance, so you can ensure you get any coverage you may be missing.

What Does Contractors Insurance Cost in South Carolina?

Construction insurance costs in South Carolina vary widely from company to company, and a lot depends on the policies and insurance companies you choose.

Several factors influence your South Carolina construction insurance costs. Your business's unique characteristics and individual risk factors drive your construction insurance premiums.

Some of the most important risk factors that come into play are:

• Your gross sales and payroll
• Your number of employees
• The size and physical location of your business
• Your subcontractor exposure
• Your SIC code or business classification
• The nature of your business (What do you do?)
• Your prior claims history

Even things like your city's crime and weather risks will play a role. It’s important to work with an independent insurance agent who can get construction insurance quotes from multiple insurance companies in South Carolina.

How to Find the Best Construction Insurance Quotes in South Carolina

Construction companies in South Carolina should work with a local independent insurance agent with knowledge, experience, and confidence to help them develop a comprehensive construction insurance program. A local independent agent can help you find the best policies to suit your unique needs and budget requirements, not a one-size-fits-all approach that could fail to protect you when you need it most.

Save on Construction Insurance

Our independent agents shop around to find you the best coverage.

Request a quote

South Carolina Construction Insurance FAQs