North Carolina Business Insurance
Commercial coverage for North Carolina contractors, restaurants, property owners, truckers and professional firms. One agency comparing many insurance companies, with eight offices in the state.
Commercial coverage for North Carolina contractors, restaurants, property owners, truckers and professional firms. One agency comparing many insurance companies, with eight offices in the state.
Workers compensation is the one policy state law requires for most employers. Once you regularly employ three or more people, you need it, whether you're a corporation, an LLC, a partnership or a sole proprietor. Corporate officers count toward the three. If any work involves radiation, one employee is enough. A contractor who hires a subcontractor without getting a certificate of insurance can be held liable for that subcontractor's injured workers.
An employer that should carry it and doesn't can be fined $1 per employee per day, at least $20 and at most $100 a day, and can face criminal charges: a misdemeanor for neglect, a felony if willful. The business can also end up paying an injured worker's medical and wage costs itself.
Business vehicles need at least the state auto minimums. Trucks hauling for hire across state lines also need federal filings and higher federal limits.
Everything else (general liability, property, professional liability, cyber and umbrella) is required by the people you do business with rather than by the state. In practice that means almost every business needs it before it can sign a lease, close a loan or get on a job site.
Coastal wind. In the coastal counties, commercial property policies often exclude wind and hail. The building then needs a separate wind policy, frequently through the Coastal Property Insurance Pool, and named storm deductibles are usually a percentage of the building's value. On a $2 million building, a 5% deductible is $100,000.
Inland flood. Helene showed that flood losses reach far beyond the coast. Federal flood insurance stops at $500,000 for a commercial building and $500,000 for contents, so larger properties need excess flood above it.
Contracts that move risk to you. General contractors, landlords and shippers write insurance requirements into their contracts: additional insured status, waivers of subrogation, specific limits. A policy that doesn't match the contract can cost you the job, or leave you paying a claim you thought was covered.
Injury and property damage claims from customers and the public. A BOP packages liability with property for small businesses.
Your building, equipment and inventory, including wind, named storm and ordinance-or-law coverage.
Required at 3 or more employees. We also handle the year-end audit questions.
Business vehicles, fleets, motor carriers, cargo and federal filings.
For accountants, consultants, real estate and other professional firms.
Higher limits above general liability, auto and employer's liability.
Workers compensation is required once you have three or more employees, and business vehicles need at least the state auto minimums. Other coverage isn't required by state law, but landlords, lenders, general contractors and clients usually require general liability and property coverage in their contracts.
Three. Businesses with any employee whose work involves radiation need it with one.
Often not for wind. Many coastal commercial policies exclude wind and hail, and the building needs a separate wind policy. Flood is never included and needs its own policy.
General liability covers claims from injuries and damage to others. A business owners policy packages general liability with property coverage, usually at a lower combined price for eligible small businesses.
Yes, in South Carolina, Virginia and Maryland. See our South Carolina, Virginia and Maryland pages.
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