Professional Liability Insurance In South Carolina

Professional liability insurance in South Carolina is an important tool for any business operating within the state. It provides financial protection against claims of negligence or wrongful acts that result in financial loss for a client. Professional liability insurance helps protect businesses from the potential consequences of errors and omissions that may occur while providing professional services or advice to clients.



In South Carolina, professional liability insurance must be purchased from an approved insurer who is licensed and authorized to do business in the state. The coverage offered can vary widely, depending on the profession and risk involved. Generally, policies will provide coverage for claims of negligence or wrongful acts that result in financial loss to the client.

The cost of professional liability insurance in South Carolina is determined by a number of factors, including the nature of services provided, the type of coverage purchased, and any claims history. Generally speaking, rates can range from $500 to $2,000 per year for basic coverage. As such, it is important to understand how these factors affect the cost of professional liability insurance in South Carolina before purchasing a policy.

The nature of the services provided is an important factor in determining the cost of professional liability insurance in South Carolina. Professionals that provide services with a higher risk will typically pay more for their coverage than those providing lower-risk services. Additionally, most insurers offer discounts to businesses that purchase coverage for multiple professions.

The type of coverage purchased can also impact the cost of professional liability insurance in South Carolina. Basic policies will provide protection against claims of negligence or wrongful acts that result in financial loss to a client, but additional coverage may be necessary for more specialized risks. Furthermore, many insurers offer discounts to businesses with no previous claims history.



Finally, more claim activity can result in higher insurance rates. This is because insurers take into account a business’s prior claims history when setting premium rates.

At Southern Insurance Group, we understand the importance of reliable business insurance, particularly professional liability insurance. We specialize in providing our customers with the best policies to meet their specific needs and budget.

Our team of experienced agents is available to assist you in obtaining the right coverage for your business at an affordable rate. Contact us today to learn more about our professional liability insurance options or to get started on a policy that fits your unique needs

Businesses that provide professional services and advice to clients in South Carolina could benefit from purchasing professional liability insurance. These include:

• Accountants – Professional liability insurance can help cover the financial losses a client may incur due to errors or omissions made while preparing financial documents.
• Attorneys – Lawyers often face claims of negligence or wrongful acts when representing clients, and professional liability insurance can provide protection against such claims.
• Financial Advisors – Professional liability insurance can help cover the potential losses a client may incur due to bad investment advice or other errors made by a financial advisor.
• Real Estate Agents – Errors in filling out paperwork or providing incorrect advice can lead to expensive claims for real estate agents, and professional liability insurance helps protect against these risks.
• IT Consultants – Professional liability insurance can help cover the costs of a lawsuit if a project fails due to an error made by an IT consultant.
• Architects – Professional liability insurance provides protection from costly claims due to errors made in the design and construction of a project.
• Healthcare Professionals – Doctors, nurses, and other healthcare providers can face lawsuits for negligence or wrongful acts, which can be covered by professional liability insurance.
• Insurance Agents – Professional liability insurance helps protect an agent if they provide incorrect advice or make a mistake while handling a customer’s insurance policy.
• Web Designers – Professional liability insurance can help cover the costs of a lawsuit if an error is made that affects a client’s website.
• Construction Contractors – Errors in constructing buildings, roads, bridges, etc., can be very costly, and professional liability insurance can provide protection from such claims.

Other service providers that could benefit from professional liability insurance in South Carolina include engineers, consultants and landscapers. As long as you are providing professional services to clients, it’s important to have the right coverage in place.

Professional liability insurance in South Carolina comes in handy when a business is sued for professional negligence or wrongful acts. Generally, this type of coverage can provide protection from claims related to errors, omissions, and breaches of duty.

This policy can also cover legal costs related to the defense of lawsuits as well as judgments or settlements that may be awarded to plaintiffs in these types of cases. In addition, it can help cover the costs of investigations and other fees associated with a lawsuit.

Furthermore, professional liability insurance may also provide coverage for allegations of slander, libel, or defamation of character. Depending on the policy terms, some policies may even cover losses related to cyber-attacks and data breaches.



In summary, South Carolina professional liability insurance can provide a business with financial protection from claims of negligence and wrongful acts, as well as other types of losses. It is important to find the right coverage for your unique needs to make sure that you are protected in case a client files a lawsuit against you. With the right policy in place, you can have peace of mind that your business is protected in the event of a costly claim.

While professional liability insurance can cover a variety of risks, it does not provide coverage for all types of losses. The following are some specific things that may not be covered by this type of policy:

• Intentional wrongful acts
• Bodily injury or property damage
• Contractual liability
• Products liability
• Workers' compensation insurance
• Punitive damages
• Criminal acts
• Intellectual property infringement
• Employment practices liability insurance (EPLI)
• Criminal fines or penalties
• Reputational harm
• Legal defense costs in criminal proceedings
• Loss of income due to business interruption
• Fraudulent activities
• Advertising injury claims, such as libel or slander

You may need special coverage such as EPLI, product liability insurance, or cyber liability insurance to protect against these types of risks.

It is also important to read the policy carefully to make sure that all the risks you are exposed to are covered by the policy.

Businesses can potentially save money on their professional liability insurance by taking advantage of discounts. Some of the common discounts offered in South Carolina include:

• Multi-policy discount – If you have other types of insurance, such as property or auto, with the same insurer, you may be eligible for a multi-policy discount.
• Claims-free discount – A no-claims discount can be earned if you have not had to file a claim in the past few years.
• Risk management – If you can show that you have implemented risk management practices, such as employee training or safety protocols, some insurers may offer discounts.
• Professional organizations – Many professional organizations will offer discounted rates for their members.
• Payment options – Some insurers may offer discounts if you pay your premiums in full or set up automatic payments.

Increasing your deductible can also help lower your premium costs. Other discounts may also be available, so it is important to shop around and compare rates.

At Southern Insurance Group, we understand that finding the right professional liability insurance policy can be a daunting task. That’s why we make it easy for businesses to compare quotes from multiple insurers and find the best coverage at the lowest cost.

We are an independent agency, meaning that we work with multiple carriers and can provide unbiased advice on what policy will best suit your needs. Our experienced agents are here to help you every step of the way and make sure that you get the coverage you need at a price that fits your budget.



So, if you’re looking for professional liability insurance in South Carolina, contact us today for a free quote!