Yes. A BOP generally combines general liability, commercial property, and business income coverage. It does not usually include workers’ compensation, commercial auto, professional liability, or flood insurance.
https://content.naic.org/insurance-topics/business-interruption-and-business-owner-policy
Cost depends on the industry, revenue, payroll, property, vehicles, claims history, policy limits, and other risk factors. Many small businesses pay under $100 per month for general liability. A $1 million general liability policy typically costs between $20 and $150 per month, although actual premiums may be higher or lower.
Businesses selling alcohol for on-premises consumption after 5:00 p.m. must carry at least $1 million in annual aggregate liquor liability coverage. Qualifying risk mitigation steps can reduce that requirement, but coverage may never fall below $300,000. These rules took effect January 1, 2026.
As a general rule, a South Carolina employer that regularly employs four or more people must maintain workers’ compensation insurance. Part-time employees and family members generally count. Certain exceptions apply.
General liability insurance is not broadly mandated for every South Carolina business. A landlord, client, general contractor, lender, licensing body, or event organizer may require it. Businesses also purchase it to protect against covered third-party injury, property damage, and personal or advertising injury claims.
https://www.sba.gov/business-guide/launch-your-business/get-business-insurance