As a business owner, it's important to make sure you're protecting yourself, your business, and your employees in both a financial and legal sense. With commercial insurance from New American Insurance LLC, you can ensure your Lexington, SC business is completely protected.
When you own a business that has employees, you're required by law to have worker's compensation insurance. This is the case even if you only have one employee who only works part-time. As an employer, it's your responsibility to make sure that your employees can seek compensation if they're injured at work.
The one exception to worker's compensation insurance requirements in South Carolina is an employer whose total payroll during the previous year was $3,000 or less. Regardless of how many employees you have, you aren't required to carry worker's comp insurance if you didn't pay your employees more than $3,000 in total. Even if it isn't a requirement, it's still your responsibility as a business owner to protect your employees and business with commercial insurance.
Commercial insurance is designed to protect your business, which means it can vary based on the industry you're in. Property insurance is one of the most popular types of coverage, covering things like fire damage to a building. Liability insurance protects your South Carolina business if somebody sues you for a personal injury or something similar. You can even get auto insurance for your fleet if you have several work vehicles that you and your employees drive. Ultimately, it's best to talk with an agent about the details of your business and what type of coverage you need.
If you want to run your Lexington, SC business the right way, you need to make sure you've got good commercial insurance. Fortunately, New American Insurance LLC can help. Give us a call to find out more about commercial insurance or get a free quote today.