As a business owner, you understand the importance of minimizing risk, especially when it comes to the people you depend on.

If your contractor hires a subcontractor who doesn’t carry adequate insurance, your own policy could be used to cover a workers’ compensation claim in the event of an incident. That means your business could be held financially responsible for something completely outside of your control.

When hiring a contractor or subcontractor, it’s important to remember that the cheapest option isn’t always the best option. A low price today could end up costing you much more in the long run.

At South Carolina Federal Insurance Solutions, we believe that confirming that your contractors and subcontractors are both properly insured is one of the most effective ways to protect your business. Claims filed against your policy to cover an uninsured person don’t only impact you in the short term – they can affect your rates for years to come.

One of the best ways to control exposure is to thoroughly vet your contractors and subcontractors before they start working. Here are a few tips for doing so effectively:

• Request proof of insurance. Always obtain current and valid certificates of insurance.
• Verify the insured party. Ensure the legal name of the contractor or subcontractor is listed on the policy.
• Check the coverages. Make sure workers’ compensation, employer’s liability, and general liability coverages are included so you’re not left responsible in the event of an accident.  
• Review liability limits. Make sure the contractor or subcontractor carries adequate limits for each type of coverage.
• Confirm coverage dates. Policies should remain active for the entire length of the project or service period. Schedule a reminder to follow up a few weeks before the renewal date is set to expire. Also, check the certificate issue date (usually found in the top right corner) to verify their coverage is current. If the certificate is outdated, notify the contractor immediately so they can request updated documents from their insurance provider.

Hiring a fully insured professional helps shield your business from potential lawsuits and unnecessary financial obligations. Taking these proactive steps now could help you save significantly in the future.

At Insurance Solutions, we can help evaluate your coverage and provide guidance on how to best protect your business. Schedule a complimentary insurance review today and take the next step toward safeguarding your company’s future.

Many business owners have commercial property insurance to help offset the costs of repairing or replacing their property in the event of a covered claim. But did you know that flood damage typically isn’t covered by standard commercial property insurance?

Floods are the most common and costly natural disaster in the United States, and they can happen in every state and region. And while you might think your commercial property is safe because it’s not in a high-risk flood zone, that’s not always the case. According to Neptune Flood, 25% of flood losses happen in areas where flood insurance isn’t required by lenders.

Flood insurance is designed to protect both your building and what’s inside it. It can also cover business interruption, including lost income and ongoing operating expenses if flooding forces you to close. Depending on your situation, having a customized insurance policy in place can make the difference between getting back to business quickly or taking more time to recover.

When it comes to protecting your business, our advisors can help you explore two flood insurance options:

National Flood Insurance Program (NFIP) via The Hartford*

• Provides up to $500,000 for businesses and $1 million for its contents
• 30-day waiting period

Neptune Flood Insurance**

• Provides up to $4 million for business and $1 million for its contents
• 10-day waiting period

NFIP is a federally subsidized program managed by FEMA. However, private flood insurance providers, such as Neptune Flood, offer higher coverage limits and additional benefits. Unlike NFIP, private flood insurance remains available even during government shutdowns, with waiting periods as short as 10 days.

At South Carolina Federal Insurance Solutions, we believe flood insurance is a business owner’s best protection against the financial losses of a flood. Let us help you find coverage options that fit your unique situation.

Whether you already have commercial flood insurance or are exploring it for the first time, it is important to review your coverage limits, exclusions, and applicable deductibles. To help you avoid costly surprises down the road, it’s wise to make sure your policy matches your risk level.

Schedule a complimentary insurance review today with one of our advisors and we’ll help you protect your business, employees, and peace of mind.

*The Hartford offers flood insurance through NFIP, which is a government-backed program administered by FEMA. Due to the lapse in federal funding, NFIP applications may not be processed or responded to until after appropriations are enacted.

**Neptune Flood is a private insurer backed by LLoyd’s of London.

Starting a business is an exciting milestone – it’s your opportunity to bring a vision to life and build something that’s truly your own. But before you jump in, it’s important to take a step back and make sure you’re fully prepared for what’s ahead.

From exploring your business model to mapping out a solid financial plan, taking proactive steps early on can help you avoid costly missteps down the road. A critical step that is often overlooked is making sure you have commercial insurance in place. The proper coverage can protect your business in the event of an accident.  

As you prepare to launch your business, here are four key things to keep in mind:

Understand Your Market. Before investing time and money, make sure there’s a demand for your product or service. Conduct thorough market research, talk to potential customers, and gather honest feedback. Understanding who your ideal customer is – and what they truly need – will help you position your business for success.

Get Your Finances in Order. Starting a business comes with upfront costs and it may take time before you start making a profit. That’s why it’s important to map out your expenses, create a budget, and give yourself some wiggle room for surprises along the way. You’ll also want to manage cash flow carefully; rent, payroll, taxes, and invoices will need to be paid, and planning ahead can help minimize financial stress.

Plan for the Unexpected. Even the most well-run business can face unexpected challenges. Having commercial insurance can help safeguard your physical assets, cover liability risks, and protect your employees from natural disasters, lawsuits, or accidents.

According to Forbes, 90% of small business owners aren’t confident their company is adequately insured. One of the smartest ways to protect your investment, employees, and peace of mind is by understanding your commercial insurance options.

Know Your Coverage Options. Commercial insurance isn’t one-size-fits all. The type of coverage you need will vary based on your industry, operations, and risk level. Whether you are planning to open a retail store, restaurant, or tech startup, it’s important to choose insurance that’s tailored to your specific business needs.

Insurance can feel complicated, but you don’t need to navigate it alone. At South Carolina Federal Insurance Solutions, our experienced advisors are here to help you make sense of your options and build a policy that protects what matters most.

Contact us at (833) 359-0725 to speak with an advisor and start exploring your coverage options today!

Source: https://www.forbes.com/advisor/business-insurance/small-business-insurance-statistics/

Our vehicles play a vital role in our daily lives – from commuting to work to transporting loved ones. They’re not just a convenience, they’re a key investment we depend on and take pride in maintaining.

At South Carolina Federal Insurance Solutions, we understand that protecting your vehicle is essential, especially when severe weather strikes.

Each insurance claim you file can potentially impact your premium. That’s why it’s important to take proactive steps to protect your vehicle and avoid unnecessary claims caused by weather-related damage.

Whether it’s pouring rain or gusty winds, driving in bad weather can be dangerous. Here are some ways to stay safe and reduce the risk of damage:

• Regularly check your tire pressure to help maintain strong traction in rain, ice, snow, and wind.
• Ensure your windshield wipers and headlights are in good condition and working properly for clear visibility during storms or low-light conditions.
• Avoid driving through deep puddles of water on the road wherever possible. If unavoidable, maintain a steady speed – not too fast where you could create a wave and lose control of your vehicle, but not too slow to stall your vehicle in the water.
• Limit nighttime driving during and after winter weather to avoid black ice.
• Don’t park under trees if a hurricane is approaching or during windstorms or ice storms, as falling branches can cause significant damage.
• Keep your gas tank at least half full to avoid running out during emergencies or having to drive in poor conditions to refuel.

Have questions about protecting your car in inclement weather or need to make sure your current policy has you covered regardless of the forecast? Call one of our experienced insurance advisors today at (833) 359-0725.

At Insurance Solutions, we’re here to help – in every season of life.

If you’re a safe driver or someone who doesn’t drive often, you could save on your car insurance with a telematics program through your insurance carrier.

Telematics car insurance programs use technology to monitor your driving habits and calculate your individual risk level. These programs typically operate through a mobile app or small device that plugs into your vehicle. By collecting real-time data, insurers can offer personalized rates based on how you drive. The safer and more consistent your habits, the more you could save – with some drivers even earning discounts of up to 20%.

Insurance carriers can track a variety of factors through telematics programs, including:

• How you drive (i.e., speed, braking, acceleration)
• When you drive (time of day)
• Where you drive (road types and areas)
• How much you drive (annual mileage)

If you’re cautious behind the wheel or are a low-mileage driver, a telematics program could help lower your insurance costs. Instead of relying solely on traditional rating factors, which is how traditional car insurance policies are priced, your carrier can use telematics data to tailor your premium to reflect your actual day-to-day driving behavior.

However, it’s important to note that some carriers may remove the initial discount – or even add a surcharge – based on your driving performance. Telematics programs provide daily feedback and an updated “grade,” meaning your rate could change as your driving habits are continually monitored.

At South Carolina Federal Insurance Solutions, we understand how important it is to get the best value from your auto insurance, and we’re here to help you select the best option for your current needs. Telematics programs can be a great way to reward safe habits with real savings.

Our experienced advisors are here to help you compare quotes from multiple top-rated insurance carriers that offer telematics programs. We’ll guide you through your options and find a plan that fits your lifestyle and budget.

Click here to contact an Insurance Solutions advisor to learn how you could save money on your car insurance with a telematics program.

After officials implemented a 25% tariff on auto parts, there is growing concern in the auto industry that it could have a serious impact for car owners across the country.  

According to MarketWatch, auto insurance premiums could increase by up to 8% by the end of 2025. Why? Because when the cost of auto parts goes up, so does the cost of vehicle repairs. As repair costs climb, insurers are likely to raise premiums across the board to help offset those expenses.

In fact, industry analysts estimate the added expense could total between $7 billion and $24 billion in additional claim costs per year. That means insurance companies may start adjusting rates within 12 to 18 months of the tariffs taking effect.  

At South Carolina Federal Insurance Solutions, we’re committed to helping you find auto coverage that fits your budget without compromising the protection you need. Our advisors can compare quotes from multiple top-rated carriers and help you select the best option for your current needs.

Click here to get personalized guidance on your auto insurance options today.