Contractors Insurance in Mississippi

Contractors who are planning to do business in Mississippi must be licensed if a project exceeds $500 (labor and materials). You may be required to pass a contractor’s exam depending on your trade. Contractors are encouraged to visit the MS State Board of Contractors website for complete information about contractor licensing. You can also review the MS Residential and Commercial Instruction Video.

The state of Mississippi is rather lenient when it comes to workers’ compensation insurance. Employers with five or more regular employees are required to carry workers’ compensation insurance. Here are the state’s Details/Exceptions:

Sole proprietors, partners, and corporate officers don’t count toward the employee total if they choose to not cover themselves. Employers with less than five employees or domestic or farm laborers are not required to have coverage but may be choose to provide it. Independent contractors are usually excluded from coverage but protection is given to employees of subcontractors.

Protect Your Business with Contractors Insurance from Fairbanks Insurance

Mississippi contractors, subcontractors, and specialty contractors are exposed to risks while traveling to a jobsite or working at a jobsite. These risks are typically a result of legal actions brought against your business from a third-party but can also result from an employee getting injured or becoming ill as result of work-related circumstances.

The risks that Mississippi contractors face everyday can be transferred to a highly-rated commercial insurance company at affordable prices using Fairbanks Insurance Brokers.

Here is What We Recommend:

General Liability

As the foundation of your commercial insurance package, general liability insurance provides a package of valuable coverages that every business can rely on:

  • Business liability resulting from claims for bodily injury or property damage from third parties.
  • Contractual Liability – often times contractors enter in contractual agreements with other contractors and must indemnify their business.
  • Products Completed Operations – If your business manufactures of installs products for
    customers, you could be held liable for actions that result from products and their installation.
  • Legal Costs – Every legal action filed against your company must be responded to and defended. Here is where your general liability insurance is invaluable.

Workers' Comp

Mississippi is designated as an NCCI State when it comes to workers’ compensation. This means that classes and rates are set by the National Council on Compensation Insurance. Workers’ compensation insurance can be purchased from any commercial insurance company that offers workers’ comp.

Commercial Auto

Mississippi contractors that use vehicles and trailers for commercial purposes should only depend on commercial auto insurance to cover their liability for injuries or property damage and repair or replace their vehicles in the event of an accident or theft. Contractors who make the mistake of relying on personal auto insurance will likely find that coverage will not be available if the vehicle is regularly used for commercial purposes.

Tool Coverage

Your tools and equipment are not covered under your business property or commercial auto policy while in transport, in storage, or at the jobsite. Fairbanks Insurance Brokers provides affordable tool and equipment coverage using Inland Marine Insurance coverage from many highly-rated commercial insurers.

Surety Bonds

Most states require contractors to post a surety bond that protects the state before a license will be issued. Also, many large customers and government agencies will require a bid bond before they will even review your company’s bid for a project. Fairbanks Insurance Brokers has access to multiple bonding companies and can deliver any bond required at affordable rates.

Fairbanks Insurance Brokers is a leader in providing contractors insurance and is dedicated to providing Contractors and Builders the finest insurance protection at the lowest rates throughout the construction community.

With savings up to 65% on General Liability, Workers’ Compensation, Commercial Auto and Bonds, you can count on us to do the heavy lifting and provide you the most competitive quote that includes all the discounts for which you qualify.


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