Get the right commercial insurance for your Charleston business
Which insurance policies are recommended for Charleston businesses?
General liability insurance
General liability pays for legal costs from customer accidents, along with defamation and copyright infringement claims. Commercial leases in Charleston often require this coverage.
- Customer accidents at your business
- Damage to a customer's property
- Slander and other advertising injuries
Professional liability insurance
A professional liability policy covers legal costs related to claims of negligence, such as advice that caused a client to lose money. It's sometimes called errors and omissions insurance (E&O).
- Mistakes that cause financial loss
- Accusations of professional negligence
- Missed deadlines
Cyber liability insurance
Cyber insurance helps small businesses in Charleston recover after a data breach or a cyberattack. Every business that handles customer information should have this coverage.
- Data breach notification costs
- Fraud monitoring services
- PR campaigns after a breach
Business owner’s policy
A business owner's policy is an affordable way to buy general liability coverage and commercial property insurance together. It's recommended for low-risk small businesses in Charleston.
- Customer slip-and-fall injuries
- Damaged business property
- Theft and vandalism
Workers’ compensation insurance
Workers' comp is required for Charleston businesses with employees, with few exceptions. It also covers work-related injuries for sole proprietors, which health insurance may deny.
- Medical bills from job-related injuries
- Disability benefits
- Legal fees from workplace injuries
Commercial auto insurance
All vehicles owned by Charleston businesses must be covered by commercial auto insurance. This policy primarily covers injuries and property damage caused by your vehicle.
- Injuries from an auto accident
- Damage caused by your vehicle
- Lawsuits from an auto accident
Errors and omissions insurance
E&O insurance protects consultants and professional services against legal defense costs from dissatisfied clients. It's also called professional liability insurance.
- Errors and oversights
- Breach of contract
- Professional negligence
Commercial property insurance
This policy covers physical damage to a Charleston business's building and its contents, including any computers and equipment. You can bundle it with general liability in a BOP.
- Burglaries
- Fires
- Storm damage
Commercial umbrella insurance
An umbrella policy provides coverage once the limit is reached on your underlying general liability insurance, commercial auto insurance, or employer's liability insurance.
- Customer lawsuits
- Auto accident lawsuits
- Employee injury lawsuits
Verified business insurance reviews
Hear from customers like you who purchased small business insurance.
Which business insurance policies are required in Charleston, WV?
Workers' compensation insurance
West Virginia state law requires workers' compensation for all small businesses with employees, whether they're full-time, part-time, temporary, or seasonal. There are a few exceptions to this rule, including:
- Businesses with fewer than three employees who work temporary jobs for less than 10 days per quarter
- Domestic servants
- Church employees
- Professional athletes
- Volunteers for emergency services
- Longshore and harbor workers
- Five or fewer agriculture employees
Workers' compensation helps pay for medical expenses related to work-related injuries.
Most workers' comp policies also include employer's liability coverage, which protects the business from injury-related lawsuits.
Single-person businesses, such as sole proprietors and independent contractors, should also carry workers' comp, though they are not required by state law. This policy can help with medical bills related to work injuries, or may be a requirement for certain contracts.
Commercial auto insurance
All West Virginia small businesses with company-owned vehicles are required to carry commercial auto insurance.
This insurance protects your business if you or your employees are involved in an accident with company vehicles while performing work-related activities and errands.
West Virginia insurance minimum requirements include:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability
Certain businesses, such as trucking businesses or those that use utility trailers or cargo trailers, may require higher limits.
In West Virginia, personal injury protection (PIP) is also required as an endorsement to your coverage, and it helps provide medical payments coverage if there's an accident, regardless of who is the at-fault driver.
Businesses that use personal, rented, or leased vehicles will need another policy called a hired and non-owned (HNOA) policy.
How much does business insurance in Charleston cost?
Small businesses in Charleston don't have to pay a lot for commercial insurance solutions. Here are a few average costs for West Virginia businesses, based on policy data from Insureon customers:
General liability: $44 per month
Professional liability/E&O: $71 per month
Business owner's policy: $85 per month
The cost of business liability insurance depends on factors such as:
- Type of business
- Business operations
- Number of employees
- Policy limits and deductibles
- Claims history
Top professions we insure
FAQs about Charleston business insurance
How do I get a certificate of insurance for my business?
With Insureon, you can get same-day insurance in three easy steps:
- Fill out our easy online application to get quotes from top-rated insurance carriers.
- Choose the insurance option that suits your coverage needs and pay for it online.
- Download a certificate of insurance (COI) by logging into your account.
Our licensed insurance agents will help you get coverage for your West Virginia company that matches your specific business needs and your budget.
Most businesses can get their certificate of insurance within a few hours. With this certificate, you can demonstrate proof of insurance for contracts, bids, and other agreements.
Can my business be held liable for a data security breach?
Yes – that's why cyber insurance is so crucial. Small businesses are a common target of cyberattacks since they often have fewer security measures in place.
Small businesses are a common target of cyberattacks and ransomware attacks since they often have fewer security measures in place.
West Virginia data breach laws require Charleston businesses to notify any residents "in the most expedient time possible and without unreasonable delay" if they're exposed in a data breach.
Your business could also end up paying for a data breach investigation, a PR campaign, and other costs related to a breach or cyberattack.
Cyber insurance covers these costs and provides resources so you can get back to business fast.
Does my industry affect Charleston insurance requirements?
Charleston requires business owners to register with the state and tax department as well as obtain a state-level business license. There may also be special requirements for business insurance and bonds, depending on the type of work you do.
Here are a few examples of businesses with other obligations:
- Contractors are not required to carry contractor general liability insurance to operate in West Virginia. However, they might need a surety bond to sign a contract or bid on a project.
- Real estate agents and brokers are not required to carry errors and omissions (E&O) but the firm where they work may require it.
- Notaries public in West Virginia must carry a $1,000 surety bond and pay a $52 fee.
- Physicians aren't required by law to carry malpractice insurance in West Virginia, but some healthcare facilities require it.
When running a business in Charleston, you need to be aware of laws and regulations for West Virginia, the city of Charleston, and Kanawha County.
How can I get help starting a small business in Charleston, WV?
The City of Charleston provides ample support for new and growing small businesses.
Here's a list of local organizations available to provide guidance and resources:
- Charleston Area Alliance offers startup support for new and existing businesses in the form of workshops, directories, events, and networking opportunities.
- West Virginia Small Business Development Center provides business resources including financing support, trainings, tools, and events.
- SCORE West Virginia works with local Charleston small business owners to provide mentorship and education.
- The U.S. Small Business Administration West Virginia District offers events, guides, and education for small business owners in West Virginia and beyond.
Keep in mind that many lenders will require you to first obtain business insurance coverage before they will approve a loan.
How can I save money on Charleston business insurance?
Small business owners can save money on insurance by comparing quotes from different insurance companies.
With Insureon, you can get free Charleston business insurance quotes from top-rated providers by filling out one easy application.
There are a few other ways to save, such as:
- Bundle policies for a discount. The most popular option is a business owner's policy.
- Choose less expensive policy options, such as lower limits or a higher deductible.
- Focus on minimizing workplace exposures and risk management. Fewer accidents mean fewer claims, which helps keep your premium low.
Learn more about how to find cheap business insurance. You can also speak to one of Insureon's agents to discuss your insurance coverage needs.