Contractors, subcontractors, and specialty contractors who work in Missouri need not worry about a state license. In Missouri, all of the local jurisdictions are charged with licensing. Since each municipality is responsible for its licensing, you’ll need to contact the town where you plan to work to find out the rules and regulations.
Missouri’s workers’ compensation rules are pretty average. All construction businesses with one or more employee is required to carry workers’ compensation. Sole proprietors and members of a partnership are excluded from coverage, but can elect to be covered if they so desire. Contractors should visit the Missouri Department of Labor for more information about workers’ comp requirements.
License or no license, contractors operating in Missouri should financially protect their businesses from the risks of operating a business, especially if you have employees or use uninsured subcontractors. Accidents will happen and can often result in legal action which can become very expensive. Why take the chance of losing your business because of a lawsuit when you can affordably transfer your risks to a highly-rated insurance company represented by Fairbanks Insurance Brokers?
Your contractor’s general liability policy will be your first line of defense if a third-party brings a legal action against your business. The policy will pay your defense costs and cover for the following:
Contractors who have employees or uninsured subcontractors working for them will be held financially responsible for work-related injuries or illnesses of their workers unless they carry workers’ compensation insurance. Your workers’ compensation insurance will pay for medical expenses, lost wages, and even a death benefit if an employer is injured or becomes ill on the job.
Contractors and subcontractors who use multiple vehicles, trucks, and trailers at the jobsite typically find they cannot even park on a large customer’s property without a million dollars in liability coverage. For this and other reasons, we recommend commercial auto insurance to protect your business from the liability risks and your vehicles from damages and theft.
Consider what it what it would cost you to replace your tools and equipment if they were stolen from a jobsite or storage building. Fairbanks Insurance Brokers recommends an affordable tool and equipment policy (inland marine insurance) that will reimburse you if your tools or equipment is damaged or stolen while in transit, at the jobsite, or in storage.
Posting various types of bonds is typically involved in bidding on a job and completing that job. Our bond department will find the bond you require at a premium you can afford.
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.