General Contractor Insurance in Missouri

Why do contractors need insurance in Missouri?

The Show-Me State largest industry is construction. In the construction industry there are over 52,763 employees.

Construction sites are often dangerous locations to work in. An incident of a minor nature can result in a huge liability for your small business regardless of whether you are working on residential or commercial construction projects. Contractor insurance for Missouri companies helps to prevent accidents, unexpected delays, or other issues that can ruin the hard work you’ve put into it.

Contractor insurance can be used to describe the various types of coverages that general contractors can choose, including:

• General Liability insurance
• Business Owner’s Policy
• Workers’ Compensation insurance

Find out more about the contractor insurance available in Missouri and how BizInsure can help you to determine the right insurance for your needs.

What are the most common insurance policies for contractors in Missouri?

There are a variety of insurance for contractors that Missouri tradespeople typically consider. These policies may help you to manage the most common risks that contractors face while working.

General Liability insurance

Also referred to as Commercial General Liability (CGL) or “slip and fall coverage”, this insurance can protect your business against bodily injury or property damage lawsuits from outside parties.

Business Owner’s Policy

Business Owner’s Policy (BOP) is a convenient package of insurance that protects your business against the common risks it faces every day. The BOP product includes various coverages that may suit the unique requirements of your small business. Insurance included in a BOP can vary but usually they include protection for typical small business risks such as property damage, business interruption and liability.

Workers’ Compensation insurance

Workers’ Compensation insurance protects your company and its employees. If any of your employees get injured at work or are ill, this type of insurance will cover their medical bills. It will also cover some of their lost income if they’re unable to work because of the injury, as well as rehabilitation or physical therapy to transition the employee back into the workplace.

Missouri law states that employers are required to obtain Workers’ Compensation coverage if they have 5 or more employees. Employers who are in the construction business must carry workers’ compensation coverage if there is one or more employees.