With over 50 classifications of licenses, Utah requires all contractors to be licensed by the state regardless of the value of the contract. All the information a contractor needs in order to secure your license can be found here. The easiest method to determine your requirements is to click on the “licensing” tab and then “find a profession” to be taken to a page about your specific business operation.
The state of Utah also requires all businesses to carry workers’ compensation insurance for their employees. In Utah, you can purchase workers’ comp from a commercial insurance provider or Utah’s state workers’ compensation fund. The workers’ compensation is regulated by the State of Utah Labor Commission.
Although your Utah license requires a licensing bond and proof or workers’ compensation insurance, Utah contractors should mitigate (reduce) their financial risk of a claim using a an affordable commercial insurance portfolio from Fairbanks Insurance Brokers.
Having General Liability insurance from Fairbanks Insurance Brokers places a financial hedge around your business that protects your company with the following coverages:
A contractor’s tools and equipment are always at risk for damage or theft. Contractors in all trades can depend on our Contractor Inland Marine policy to provide coverage for their tools and equipment and their employees’ personal tools. They may also use the policy to cover their “installation” risk.
Surety bonds come in many forms and are regularly required for licensing, bidding, payment, and performance. Bonds should not be confused with insurance because they are more like a credit line (that must be repaid) than an insurance policy. Fairbanks Insurance Brokers represents multiple bonding companies and will make sure that your business will pay the most affordable rate possible.
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.