A construction contractor or subcontractor must register with the Montana Department of Labor and Industry only if they have employees. Electricians and plumbers are required to be licensed regardless of number of employees. For Workers’ Compensation, sole proprietors can exclude themselves from coverage, but may choose to be included. Contractors do not have to be covered under a business’ workers’ compensation policy, but must prove that they are a certified independent contractor. Without proof, your business might be held responsible for their injuries. Contractors can purchase workers’ comp from a commercial insurance company or through the state of Montana’s workers’ comp fund.
Whether or not you are required to be a licensed in contractor in Montana, your business will be exposed to certain everyday risks whenever you’re open for business. Why jeopardize your business when you can affordably transfer your risks to a highly-rated commercial insurance company?
Contractor General Liability is purchased as a shield against third party lawsuits caused by Bodily Injury and/or Property Damage that are likely to be a result of negligence by you or an employee. These potential legal actions generally arise when the Contractor’s negligence has resulted in Bodily Injury, Property Damage or Personal/Advertising Injury that has happened while a construction operation is ongoing or even several years after the project has been completed.
Without workers’ compensation insurance, your business is liable for the medical expenses and lost wages if an employee or uninsured contractor is injured or becomes ill while working for your business. You can affordably transfer this risk to a highly-rated insurance company and at the same time, satisfy the requirements of the department of labor.
Contractors in Montana use several types of vehicles for their business operations and as such, they need commercial auto insurance. Commercial auto coverage offers higher liability limits, no limit on the number of vehicles or trailers on your policy, and no limit to the number of drivers to be insured.
It’s important to know that your tools and equipment are not generally 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. Call us for affordable rates.
Many 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. Call Fairbanks Insurance Brokers to get the most affordable rates on any kind of construction bond you need.
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.