General Contractor Insurance in Mississippi
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Why do Mississippi general contractors need insurance?
The Magnolia State has a flourishing construction industry. In the construction sector, there are over 30,182 contractors who are solo.
Construction sites are dangerous places to be. An accident could lead to an expensive liability problem for small-sized businesses. Insurance for contractors can safeguard your Mississippi company from mishaps and delays.
Contractor insurance refers to different types insurance that a General Contractor may take into consideration.
- General Liability insurance
- Business Owner’s Policy
- Workers’ Compensation insurance
Find out how BizInsure helps you find the comprehensive contractor insurance for your Mississippi company.
Who may need contractors insurance in Mississippi?
A lot of companies have insurance policies that protect their businesses and personal financial assets. General Liability insurance and other forms of insurance offer a crucial security net to safeguard your company and you.
Certain clients may require certain types of coverage (this is usually stated in contract).
Select your profession to find out more about the options for insurance that are available, and then request with a quote to get a customized insurance quote.
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You can relax knowing you’ve got the most suitable insurance at a competitive price.
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What are the most common contractor insurance policies in Mississippi?
Mississippi contractors typically take a look at various types of insurance. These policies could assist you in reducing the risks that general contractors are exposed to when 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. Workers’ Compensation Insurance is required in Mississippi for all businesses that have five or more employees.
What does Mississippi contractor insurance cover?
Contractors’ insurance will cover you for a variety of risk. Based on the type of insurance you choose you could be covered for events like:
- Third-party property damage and injury claims (General Liability insurance for Mississippi contractors)
- Unexpected interruptions of business(Business owner’s policy).
- Equipment breakdown
- Workers who are injured or ill
Contractor insurance cost in Mississippi
If you’re only beginning your own business of contracting in Mississippi, you might not be aware of the costs that are associated with insurance for contractors.
Insurance companies take into account many factors when determining the premium for every business. The price you pay for your business may depend on things such as:
- The kind of insurance you want
- Your business size (annual revenue)
- How many people is the policy going to be able to cover?
- Your claims history
- What coverage you choose
How to get an insurance policy for general contractors in Mississippi?
BizInsure can help you protect your contractor business.
In just 10 minutes, you can look over a variety of quotes and select the coverage that fits your budget and needs. The policy documents will be delivered to your email inbox.
Need some assistance in your work? Our licensed agents are happy to help at any stage along the way!
Compare multiple quotes today to find the best coverage for your Mississippi general contractor company.
Learn more about insurance for general contractors in the states where you work.
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