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Business Insurance in North Carolina
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Required insurance policies for small businesses in North Carolina
State laws can affect which business liability insurance policies you need for your small business. These policies are required in North Carolina.
Workers' compensation insurance
If a North Carolina business employs three or more individuals, full-time or part-time, it must provide workers’ comp coverage. This policy covers medical bills for work injuries and protects employers from liability over an injury.
Commercial auto insurance
All business-owned vehicles in North Carolina must be covered by commercial auto insurance. Though it's not required, personal vehicles driven for work purposes should be covered by hired and non-owned auto insurance, as personal auto policies usually exclude business use. It can be added to general liability insurance or a business owner's policy.
North Carolina’s commercial auto insurance requirements are:
- Bodily injury liability: $30,000 per person / $60,000 per accident
- Property damage liability: $25,000 per accident
- Uninsured motorist coverage: $30,000 per person / $60,000 per accident / $25,000 property damage per accident
Recommended insurance policies for small businesses in North Carolina
General liability insurance
This policy is important for all North Carolina businesses. It covers common risks, including customer property damage and injuries. Most commercial leases require this coverage.
BEST FOR
- Customer injuries at your business
- Damaged customer property
- Libel or slander lawsuits
Professional liability insurance
This policy, also called errors and omissions insurance, protects professionals whose work depends on their expertise. It covers client lawsuits over mistakes and missed deadlines.
BEST FOR
- Work mistakes and oversights
- Professional negligence lawsuits
- Late or incomplete work
Cyber liability insurance
This policy helps North Carolina businesses survive data breaches and cyberattacks by paying for client notification costs, legal fees, and other related expenses.
BEST FOR
- Data breach lawsuits
- Client notification expenses
- Fraud monitoring costs
Business owner’s policy
This policy bundles property insurance and general liability insurance in one plan. It's often the most cost-effective type of commercial insurance for a North Carolina business.
BEST FOR
- Customer injuries
- Damaged customer property
- Damaged business property
Workers’ compensation insurance
Businesses in North Carolina that employ three or more people are required to carry workers’ compensation insurance. This policy covers medical costs for work injuries.
BEST FOR
- Employee medical expenses
- Partial missed wages
- Lawsuits over employee injuries
Commercial auto insurance
This policy is required for business-owned vehicles in North Carolina. It covers injuries and property damage in an accident, along with vehicle theft and other types of damage.
BEST FOR
- Accidents involving business-owned vehicles
- Theft of a business-owned vehicle
- Damage to a company vehicle
Looking for different coverage? See more policies.
Find policies for your profession
Photographers, nurses, and lawyers need different insurance coverage. Insureon offers policies for the following North Carolina professions and more:
Don't see your profession listed? Find more professions.
How much does small business insurance cost?
Commercial insurance can be affordable for a small North Carolina business. Factors that influence the cost include:
- Your industry and risk
- Coverage limits
- Location
- Number of employees
Insureon specializes in North Carolina business insurance
In North Carolina, insurance agents, agencies, and brokers are licensed by the North Carolina Department of Insurance. Insureon is licensed in North Carolina as BIN Insurance Holdings, LLC (NPN 15752926) for property and casualty insurance and for surplus lines. You can verify our licensure with the Department of Insurance on its Licensee Look-up page by selecting “Business Entity” in the first dropdown and then entering our North Carolina state license, 1000087158, into the "License Number” field.
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